Splinterlands Townhall (layoffs) notes
The townhall recording:
It's a sad period in Splinterlands history, where the team had to lay off a lot of good people due to the weight of the 2022 bearmarket.
These are my notes/paraphrasing's of Aggroed and Matt's main points from the townhall addressing the event.
Aggrod:
- We've laid of really good people.
- Many suggested to continue helping out for free.
- Two ways to pick up speed again:
- Raise money.
- Wait for bullmarket.
- Current runway is 12-18 months considering low or no revenue.
Matt:
- We are looking to raise capital - but not debt.
- Debt kills companies.
- Raising capital by diluting our shares of the company's equity instead.
- No matter what happens, we will still keep things running, even if it's just me and Aggroed left.
- We expect a bullrun will come again (personally am almost 100% sure).
- Our main goal is too still be around for that, and not just be around but be prepared.
- Last bullmarket we were not prepared. We didn't have processes, infrastructure, products or staff. We had to rush >scaling everything up while the bullmarket happened.
- Next time we will have everything ready to go. Features, games, products + the team and infrastructure to support that >will all be there from the beginning.
Aggroed:
- I believe FTX was the blackswan event that might signal the end of this bearmarket.
- But we wont run the company based on my hopes and believe.
- We intend to run a frugal and efficient company that can survive a bearmarket that lasts for another 2 years.
- Our main 5 priority:
- Cut costs (mostly done).
- Raise capital.
- Increase revenue.
- Get more efficient.
- Communicate what we are doing.
- For raising capital we have two different groups helping us find capital.
- Investment banker (Moelis)
- Accelerator (Blockchain Founders' Fund). Their founder sits on our board.
- Increasing revenue:
- We won't be targeting selling additional products to our current community (as we did with packs, nodes, runi, etc.)
- Focus on outside money:
- B2B deals:
- Selling our tech to other companies that want to do what we are doing.
- Single sign-on service. Log into other dapps with Splinterlands login (can expand our community).
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Appreciated.
I always request people to post relevant discussion here on hive. That was we keep a record and can refer back to it in future. Discord conversation gets lost.
Many thanks
Interesting and sad in a way. I was under an impression that they've raised enough funds with various pack sales and everything...
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Hello, @larsjensen! This is @traciyork from the @ocd (Original Content Decentralized) curation team. We noticed you shared your first post here on Hive - congratulations and welcome!
Excellent idea to have those notes from the Town Hall here on the blockchain. While I'm not a Splinterlands player, I've been seeing some of the buzz about the layoffs. I appreciated seeing the salient points from the TH laid out so clearly, so thank you for sharing.
It would also be awesome if you could do an introduction post, so our community can get to know you better. For information on how to write an intro post, please check out the SELF INTRODUCTION section of the post 3 things Newbies should do in their first week on Hive.
Speaking of community, we have many different ones here on the blockchain, devoted to all kinds of interests. Here's a link so you can check them all out - Hive Communities . I see you already found (no surprise...lol) Splinterlands, and you might be interested in the Hive Gaming Community as well.
Also, as Hive can sometimes be quite confusing, the newly launched Newbies Guide should be helpful to you, as it is a growing repository of useful and easy to understand posts about how the Hive ecosystem works.
Please be aware that Hive is a bit different from other social media platforms since you are monetizing your blog, so it is important not to include content that you don't own without sources (and it shouldn't exceed 50% of the post). For more information, check this post - Why and How People Abuse and Plagiarise by hivewatchers.
For now, @lovesniper will follow your account and we are looking forward to seeing your intro post. Also, please mention (also known as tagging) @traciyork & @lovesniper in your intro post in order for us to be notified, so we can consider your post for OCD curation. Lastly, feel free to hop into the OCD Discord server if you have any questions!