Why I won’t be late to any party anymore (thanks to bitcoin)

Today we are pleased to announce that Coinbase has raised $75 million in Series C financing, the largest funding round to date for a Bitcoin company. This brings our total capital raised to $106 million.

I wonder whether this news will cause the buy price of bitcoin to climb.

I use Coinbase to buy bitcoin. Big fan actually, but lately I’ve started associating it with nosediving. When I bought bitcoin, I think the buying price was around 300 euros, now it’s a mere 180 euros.

In 2011, I worked as chief digital at NRC Handelsblad, a Dutch newspaper company. During that time, almost every developer there bought bitcoin. Had I done so too, I would’ve been close to a millionaire now.

(I’m afraid those developers sold too early, by the way)

Bitcoin, my personal history of shame
Bitcoin, my personal history of shame

Bitcoin pushed me over the edge: I’ll never come late to a party anymore. It happened to me with Twitter, I joined in October 2007 after laughing about it for months. Right when the happy days had ended. And it happened to me with bitcoin. My current policy is to try *everything* that my friends or colleagues consider worth while and see whether it has value for me too. Also, I subscribed to Product Hunt.

As for bitcoin. Smart people like super VC Fred Wilson are believers and I’m impressed by the possibilities of the blockchain and how it can help us to identity ourselves online (without selling our souls to Facebook). I joined in because bitcoin just wouldn’t disappear, and that intrigued me. Is this currency and the technology behind so grand that mere mortals like me won’t understand? So I don’t mind the low value. I just see it as a stake in the future of the web.

I guess that’s the main reason I don’t want to arrive late at a party anymore. It’s not about the money or the number of followers, I just want to understand why these services (or currencies) are so loved by people I know.

Richard Linklater’s films are like therapy

This weekend, I watched three films in a row: Before Sunrise (1995), Before Sunset (2004) & Before Midnight (2013). I had heard about this trilogy, but never got around watching it. Then I found out director Richard Linklater also directed Boyhood (2014). I wanted to see whether these three movies would also captured ‘love’ in the way Boyhood captured the ‘start of our adult lives’.

The Before-trilogy revolves around Jesse (Ethan Hawke) and Celine (Julie Delpy) who meet each other on a train to Vienna. They fall in love right away and Jesse invites Celine to hop off the train in Vienna, even though she’s headed to Paris. She does. What happens in the next eighteen years, is something you should find out yourself.

Part 1 made me feel old, part 2 made me feel glad for the choices I have made in own life and part 3 prepared me for what’s next.

Linklater’s films are like therapy. They help you reflect on your own life and make you realize some of the best things are already behind you, and that you should have enjoyed them more. I don’t regret this, it will just help me appreciating the current beautiful things in life more.

I guess all art helps you reflect on your own life, it’s just that Linklater isn’t very subtle about it. He doesn’t ask a lot from his audience, and I could really appreciate that on a binge-watch Saturday night.

‘Self-respect has nothing to do with the approval of others’

Last night I finished reading Joan Didion’s classic essay collection Slouching Towards Bethlehem (1968). I especially liked the first stories about the stranger side of American society, which she wrote for The Saturday Evening Post. She sings praises for John Wayne, who many considered old-fashioned then, and explains America’s fascination for airplane tycoon Howard Hughes. But the essay that really made a lasting impression, the one that still comes back to me a week later, is On Self-Respect:

“The dismal fact is that self-respect has nothing to do with the approval of others — who are, after all, deceived easily enough; has nothing to do with reputation, which, as Rhett Butler told Scarlett O’Hara, is something people with courage can do without.”

It serves as a constant reminder that ‘character — the willingness to accept responsibility for one’s own life — is the source from which self-respect springs.’ You can read the essay on the site of the magazine it originally appeared in: Vogue.

(Photo of Didion taken by the great Jill Krementz, copy/pasted from the Writers at Work collection.)

In response to @ev: these are our metrics for success

I want to go as far as saying that this article by Evan Williams alias @ev – who (co-)founded Blogger, Twitter and Medium – is already a classic, even though it appeared online today.

Because I haven’t seen anyone else explaining the difficulty of measuring the success of a new media company in such a clear way as Williams does.

He shares a great example from his own experience:

Medium had its biggest week ever last week — or so we might claim. By number of unique visitors to medium.com, we blew it out of the park. The main driver was a highly viral post that blew up (mostly on Facebook). However, the vast majority of those visitors stayed a fraction of what our average visitor stays, and they read hardly anything.

That’s why, internally, our top-line metric is “TTR,” which stands for total time reading. It’s an imperfect measure of time people spend on story pages. We think this is a better estimate of whether people are actually getting value out of Medium. By TTR, last week was still big, but we had 50% more TTR during a week in early October when we had 60% as many unique visitors (i.e., there was way more actual reading per visit).

TTR is essentially the least worst metric for Medium, Williams writes. And he concludes to say how hard it is to find the right metrics for your new media company.

De Correspondent’s metrics for success

At De Correspondent, we focus on three metrics. We trusted, like Williams says, ‘our gut’ by determining them. Because we’re a subscription-based outlet, this is probably a lot easier for us than for a service like Medium.

  1. How much people sign up for a membership every month (which costs 60 euros a year).
  2. How many members read at least one article per month.
  3. How many members stay with us after year one.

The last couple of months, the average of new members is around a 1,000 per month. And 60 percent of our members read at least one article per month (when logged in). 80 percent of the members don’t cancel their subscription.

Our goal for 2015 is to double the growth of new members per month and to improve the user experience of our platform. We need better navigation, dossiers and, yes, a search feature other than Google. These improvements will hopefully lead to even more active members and a lower cancel rate.

How to become an effective writer. These five steps worked for me

I used to spend too much time on writing. Sometimes it took me a whole day to write a post of only 500 words. When I look back on these days of toil, I realize the actual writing had only cost me around an hour. The other hours were devoted to staring at the screen and relentlessly editing the article. My mistake? I had mixed two writing processes:

  1. the writing process
  2. the editing process

I think the second process is easy to get started with. It feels like a job that has to be done. A check mark in a box. But the first process, the writing itself, is a different matter. That’s what they’ve invented procrastination for. That’s why there are so many web sites and magazines about productivity. Coming up with the right story and words is incredibly hard.

No, let me rephrase that. Getting in the flow for coming up with the right story and words is incredibly hard.

I used to allow all sorts of things to distract me while writing. My phone and desktop notifications were obvious culprits. But the biggest distraction of all didn’t seem like a distraction. Actually, I thought it was part of my productive behavior.

Well, no.

Because there’s nothing more distracting during the act of writing than editing.

I behaved like a menacing editor

You might recognize my old behavior. I wrote a sentence and hit the period key. But before starting a second sentence I already found my cursor back at the second word and replacing it with a better synonym.

I kept repeating this. I behaved like a menacing editor criticizing every sentence seconds after I had written it down. No wonder it sometimes took me a day to come up with a short blog post.

By separating the writing and editing process, I’ve become an effective writer. No more staring at blank screens. No more cursing at my text. I get in a flow and the words just come streaming out.

Here’s how I work these days.  Lees verder How to become an effective writer. These five steps worked for me

Finally watched ‘The Internet’s Own Boy’

Last night, I watched this documentary about Aaron Swartz (1986 – 2013). He was the co-founder of Reddit, RSS and the Stop Sopa campaign.  Impressed by how relentless this wunderkind lived. Basically he died because he wasn’t interested in the start-up money and fame, but pursued his ideals for a better world. Both a very tragic and inspiring documentary.

(Thanks to Tim and Erik for the HT)

Getting past the dynastic Bush Clinton narrative

In a delightful honest and transparent post, The New York Times’s public editor Margaret Sullivan expresses 17 hopes and dreams for her newspaper in 2015. She kicks off with this one:

“Presidential campaign coverage that does not seem based on the idea that the presidency is dynastic, and must be handed down to a Clinton or a Bush.”

This is a very important hope for all journalists. To not give in to the seductive narrative of the two dynasties, but to cover the ideals and ideas of the candidates. Whether they’re called Bush, Clinton..,

or Warren.

The Problem With The King Of Clickbait

This The New Yorker profile of a young ‘viral guy’ shines a light on the supply side of the ‘ads race to the bottom’. It’s hilarious. Especially when the journalist visits his childhood home and meets the dad, who ‘speaks in passionate bursts that sound like unrelated fortune-cookie aphorisms spliced together’.

But it’s also a depressing article. It shows how the viral guy, whose name is Emerson Spartz, obsesses over getting pageviews and then plastering his sites with ads. Originality doesn’t meet his business standards, he says, because copy/pasting viral hits from your competitors generates more revenue for less effort.

“We’ve stopped doing that as much because more original lists take more time to put together, and we’ve found that people are no more likely to click on them.”

Here’s a screenshot to give you an idea what you’ll end up with if the above is your business ethos:

Dose.com, a site by Emerson Spartz

I don’t mind that Spartz has chosen this business model and I’m impressed he has built a company around it.

The problem with the king of clickbait though, is that a growing amount of journalists think they should compete with him. They adopt his tactics. They start preaching the viral Evangelic in their editorial offices.

Thinking about how you can reach your audience is fine. But lowering your journalism standards to go viral isn’t.

And that’s exactly what happens when you – as a journalist – look at Emerson Spartz as a source of inspiration.

You’ll then only focus on getting pageviews. You won’t worry about building relationship with readers. You just want to trick them in clicking on your next listicle. You’ll simplify stuff.

It’s a short-term strategy. And if you’ve chosen it, there’s no way back. When the advertisement revenues dry up, you won’t be able to ask for a donation or a subscription fee.

Because you have no loyal readers left.

You’ll end up hoping that you’ll have another hit on Facebook. As Spartz says, ‘Facebook should be eighty per cent of your effort’.

It will probably be right around that time when the audience is getting fed up with the click bait and will be looking for a thoughtful alternative. Deep reads, analysis. A news site that only serves their needs. That’s focused on getting them informed  rather than addicted.

A site they’ll probably be willing to pay money for.