Hi, I’m William Mougayar from Toronto, Canada. I'm an investor & author of The Business Blockchain – the first business book that fully explains the blockchain’s implications on business.
This is my first AMA, and I’m looking forward to it. You can start asking questions, and I will start responding at 8pm EST!
Proof: 
Announcement thread: https://steemit.com/steem-question/@cryptoctopus/get-ready-for-the-first-ever-ama-on-a-blockchain-powered-social-media-platform-with
My new book: http://www.amazon.com/Business-Blockchain-Practice-Application-Technology/dp/1119300312
Hi William! I am curious about your insights regarding the marketing of cryptocurrency projects. It seems that educating the public is a very expensive process since it requires people to think in ways they are not used to.
What kind of advice to you have for startups in the blockchain world in regards to marketing their projects? What has worked and not worked in your experience?
If it's complicated, then it is the entrepreneur's job to simplify how you message it to the market.
That said, it could be really complicated and difficult to explain, and maybe you are too early, then you need to be patient. But if you're on to something, and you can simplify the messaging, then test it out with others around you to see how it resonates.
There is a learning curve no doubt. Consumers aren't even educated on Bitcoin, and when you throw blockchains, cryptocurrencies in general, DAO concepts, crowdsales, crypto equity, etc...then most normal people will get lost.
Sadly, we are in the early days of getting educated first. It took a good 3-4 years before the Internet became widely understood even by the largest corporations- i.e. from 1994-1997 at least, the Internet was foggy for many.
Advice to startups: use metaphors to describe what you are doing, and be realistic. Don't shoot for the moon and don't promise the moon either. Vet your pitch around you.
Thank you William. Let me ask you a follow up question:
What kind of advertising avenue would you choose first?
Hi William, interested in having you on my show "Keiser Report" to talk about your book and STEEMIT - DM me on twitter, thanks
Welcome @max-keiser !
is this real?
I certainly want a proof it is really you @max-keiser !
Like @wmougayar did by posting his picture with a paper that shows he has written "I am on steemit" above....
Hi Again William - we taped a few Keiser Reports ahead of our trip to the States - but still want you on . . . STEEM has had incredible growth . . the model is great.. much needed... for proof this is me... suggest something for me to post on my twitter handle...
post about steemit!
Max when will you start posting here?
It depends on each situation. Tough to answer well without the context. But that said, generally:
3 because it's the proof that users give you
4 to amplify #3
1 to further explain your message to new audiences and it can sandwiched before and after #4
2 you need to have a really polished product for them, or they will kill you initially. startups doing business with the big companies is not an easy task.
This book is timely, I own an investment company in Zug, Switzerland and I can tell you that business is having a struggle to understand the implications and application of blockchain technology, so well done on this effort!
What, in your understanding, is the business model of Blythe Master's new company?
Why don't you ask them?
My understanding is that they have a deep knowledge of the banking industry and of the segments they are targeting, while trying to match that with a given technology platform to deliver blockchain-based solutions that help financial institutions move into the blockchain world and improve themselves. It seems like a product/services business model to me.
Thanks for joining! What are your thoughts on the governence issues faced by DAO's?
It is a reality that they are pondering what they got themselves into, and it's a positive sign they are aware of it. They have a good problem on their hands, which is to decide how to adjust and proceed. It is a good problem to have.
We are all learning and testing the boundaries of what is possible, and DAOs in general have been aggressive in testing these limits. In typical fashion, some will overshoot, and then re-tract and adjust. I expect that will happen. At the end of the day, nothing beats a good business model, a good product and a great team, whether are on DAO auto-pilot, managed traditionally or semi-autonomously. You need to show a value system that is credible inside those DAOs and the ideas they are generating. The governance issues will take care of themselves I think, over time.
Welcome, William! How has the early internet era of startups been similar or different from the blockchain era?
wow....in so many ways...many many ways, and I cover that a lot in my book where I refer to that analogy, because I was there from Day 1 with the Internet/Web and had a similar role, ie. to explain its evolution to businesses and the market.
Startup-wise specifically, there is as much money and attention as there was in 2000 during the Internet days, BUT with an inventory of startups that look more like what we had in 1996-1997.
I'd like to see more quality in blockchain related startups, and we are starting to see improvements across the board.
Interesting how the capital and number of startups compare. I wonder if ultimately Blockchain will have a bigger impact than the Internet wave, even if it takes longer to get there?
Yes and Yes.
It will have a bigger impact, but perhaps over a longer period of time.
But I reserve the right to re-assess this answer in 2 years, depending on how it develops :)
William, thank you for taking the time to answer our questions. Obvious first question, how do you see blockchain-based Steemit affecting the future of social media? What are your feelings on rewarding content creators via this method?
I'm still learning about Steemit, so I can probably better answer this question in a few weeks.
I think if they can manage the potential gaming of the system (and I understand they do), the potential is interesting.
Rewards are a good incentive, as long as they are real and the effort to earn them is balanced, and that it is repeatable.
Glad to hear you'll be sticking around with us for a bit! Thanks again!
Hi William! This one might be out of theme, but how do u think the overall crypto community is affecting the spread and growth of the technology?
The crypto community is like the cheer leaders for the market. They are doing a fine job in my opinion, even if there are extreme bouts of over exuberance or public feuds. The transparency is good, and it yields to a certain resiliency in the market, a sort of antifragility. Bullshit will get detected earlier, and called on, accordingly. We didn't have that during the Internet days, and this is a good thing for the crypto-tech related market.
William, thank you for joining us tonight, you had great responses! Thank you everyone who asked questions. This was a very successful, first ever, Steemit AMA, and it will forever live on the blockchain!
Thank you Ned and everybody. Great questions overall. Thank you, Steemit.
Feel free to email me, anyone. You can AMA on email too [email protected]
And don't hesitate to get The Business Blockchain book on Amazon and write a review if you like it.
Thanks for joining us William! Which cryptocurrencies do you invest in and why? Just curious. Thx!
Haha.. ETH and BTC are my only holdings...kind of like the blue chips of crypto :)
Like it or not, you've just earned some STEEM holdings as well! We hope you'll come back here and continue to participate in the evolution of this site.
steemit is in beta right now... Just curious if you would change something on the whitepaper and/or if you would come with an idea to make the steemit platform better? Do you think the existence of bots that autovotes will help the platform or will harm it? And what are your suggestions?
I'm a newbie to the Steemit platform and read the white paper yesterday quickly. But I need to wrap my head further around it. I will just say that I have had pleasant and positive experiences so far from the site and the staff at Steemit.
As in any startup, part of getting there is the result of small iterations and improvements, and what's more important is being nimble at recognizing what needs to be tweaked, changed or abolished.