Cryptocurrency index fund

For the last six months there has been hysteria about ICOs and cryptocurrencies. I have had several approaches to this market with different levels of success. The biggest one was two years ago, when I wrote an article about how Russia was missing a chance, that there was as good an opportunity as if Russia was given a chance to print the dollar. Yes it is possible to ban the entry of the dollar into the payment system, but to ban the printing of dollars in Russia is stupid. This article caused a certain resonance.

Around the same time, we made our first investment in this technology – distributed storage on blockchain, protected from certain external data. We were still in the ITI project then, there was no concept of an ICO yet. They came to us about a year ago and said that we needed to hold an event called an ICO. We would gather investors, invite them to invest in us, to buy our future tokens. I thought this was a weird gamble, but I gave them a room to do it. They threw a party, we watched it work. They raised over $30 million at that party. It was one of the biggest ICOs at the time. We used that to build a partnership scheme with some investment banks and funds and started investing, working out a strategy for ourselves.

After many years of experimentation, we decided for ourselves that we will not participate in ICOs that we do not understand and invest in tokens, because they can first take off, and then fall. We can make money on it, but our reputations can suffer.

If our intuition says, we don’t believe in it, as a venture capitalist, if it doesn’t pass venture capital expertise, we won’t invest, even though everyone around us may go crazy. If we like it, we’re willing to go big. We were very big investors in Telegram, up to 2 million in funding and several other projects. In parallel, we found a strategy related to an index fund.

We made a fund built on an index of cryptocurrencies. The idea is that conventionally there are all currencies from the first hundred of capitalization, they can be divided into groups. The first is bitcoin, ripal, etc., which have the bulk of the capitalization, but their growth rate is limited to certain currency markets. All investors enter these currencies, they are more or less liquid and less risky. 

On the other hand, there is a long tail – all sorts of junk, and in the middle of it, from positions 2-15, there are those coins, which conditionally create an economic effect in this market. Behind them are the serious use scenarios, behind them are the companies that have the biggest growth scenarios. They have not yet been evaluated by big investors, the public opinion, the so-called public crowd, already considers this project a done deal. This crowd is rarely wrong because people in the general mass, especially at the tail end of the system, they are more susceptible to euphoria or conversely hysteria. And in the middle the volume of participants is so large that by common decisions they create positive decisions in the dynamics. Focusing on this portfolio, you can organize quite a good yield than even just investing in cryptocurrency.

We are experimenting with an index fund. It is still small, consisting of our close investors and our own funds. We are also doing large ICOs. Another interesting niche that we have found for ourselves is at the intersection of startups and corporations. This is a major problem in the blockchain world. Many of them have raised a lot of money, they have interesting technology, but they have absolutely no real examples of how to use that technology. Consequently, there are companies that have a capitalization of billions, but it has 50,000 users. In terms of the venture capital market, a company with 50,000 users should be worth 10 million, not a billion. And those that get a real scope, they have a better economy, higher turnover, and according to the law of the network effect – their value is directly proportional to the number of participants. And on the other hand there are large corporations that are biting their elbows about the fact that they can’t do anything, for example, lawyers won’t allow them to do an ICO.

Telegram raised 1.5 billion and will raise another 1 billion this year and can afford to build any system they want. Yandex, on the other hand, is just as well capitalized, but can’t do it because the lawyers won’t allow its own currency to come down. Google, Facebook also can’t do it. They want to try, to experience and there can be very interesting combinations. On the one hand, there could be joint ventures or outside individual startups that leverage big business audiences and their capabilities, and on the other hand, there could be blockchain technology. At the same time, big companies are not touching these bitcoins with their hands.

The first such pilot has launched, just now. Like everything in this world – the best technology started with porn. The value of this cryptocurrency has tripled in the last month. It’s a very understandable scenario for users, people don’t want to pay by credit card so no one will find out later. Last year in the U.S. for the first time in 20 years of the Internet, non-porn website traffic exceeded porn traffic. Blockchain technology is ideal for any merchant where there is a loyalty program, an internal marketplace of value exchange between people. It’s easier for a company to launch its own blockchain to make that kind of partnership. We know how to do it, how to structure it. Plus we have learned how to accept cryptocurrency investments from cryptoinvestors in order to invest in real assets, accept dollars in order to invest in cryptocurrency. We do everything legally, transparently, in accordance with the requirements of American legislation. In general, we are now growing on such opportunities and adding at least 10-20 million new investments per month.

When I didn’t quite understand how artificial intelligence worked, I asked the head of artificial intelligence at Google, Facebook, and a number of other companies. In response, with a deep sigh, they gave me a book to read. The essence of the book is that it explains that the principles of the stock exchange are only subject to the laws of statistics, there is no regularity. Consequently, any attempt to teach artificial intelligence to regularities leads to the fact that robots find regularities where they do not exist. If you are asked what a sequence of random numbers is, you will say 1, 2, 2, 1. And if you give that to a robot, it will give the sequence 1,1,1,1,1,1,1,2,2,2,2, not because it’s such a sequence, but just a large number of randomness and any of them can be created. Using such data to train robots or artificial intelligence will give the false illusion that you can build a winning strategy on this pattern. 

Artificial intelligence is used for robots, they have neural networks behind them, that is artificial intelligence. They look for some inefficiencies in the market. You can see it clearly in the crypto market. Conventionally, on Monday morning the Chinese market wakes up, they go to buy bitcoin, the price of bitcoin on Monday morning almost always goes up. If you buy on Sunday and sell on Monday, you always win, but just a little bit. You have to have a lot of leverage. If one day it’s announced that someone has run away with 600 million, no one buys the currency, the market crashes, and you lose everything you’ve earned through hard work for 2 months. Unfortunately, there are no winnings here and no robots will help.

My first idea, when I started working with artificial intelligence, was to automate the trading profession on the stock exchange. But as it turned out later, it does not work very well. There are a lot of factors, for example, some news that changes the market. If you do not have access to all the information, you cannot forecast and there is nothing to do. That’s why we decided that we won’t get into speculative trading, we are, after all, long-term investors. Our value is to assess the quality of the product, the possibility of its development on a 1-2-3 year horizon. We invested, we wait a year or two and then we start to sell. After that, it’s up to you, if the project does not shoot out in 2 years, then there is nothing to feel sorry for.


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постановка целей через OKR

OKR — цели и ключевые результатыЦель в том, куда (к чему) я хочу прийтиКлючевые результаты — это все, что нам нужно знать о том, как и когда мы планируем достичь нашей цели. Стандартные цели и показатели против OKR Метрики и KPI ориентированы на прошлые показатели.OKR нацелены на результат в будущем.Управление через стандартное целеполагание = годовое управление эффективностьюУправление через OKR = непрерывное управление эффективностьюСтандартные цели и показатели против OKRЦели и основные результаты Основные принципы: Максимум 3-4 цели на команду/сотрудникаМаксимум 3-5 ключевых результатов на одну цельФормулируйте так, чтобы было понятно другим людямКлючевые результаты должны быть конкретными, измеримыми, амбициозными и в то же время в пределах зоны контроля.Формула на 3 месяцаСтавят на 1 год, в идеале на 3-4 месяца, но не на каждый месяц. Мы можем отслеживать результат каждый месяц. Контрольный список для создания OKR— в моем списке не более 5 целей— по каждой цели определяется 3-5 ключевых результатов— каждый из ключевых результатов может быть оценен в цифрах или процентах или может быть однозначно идентифицирован как достигнутый или недостигнутый результат через ответы да/нет— У меня достаточно ресурсов, навыков и возможностей для достижения ключевых результатов— В моем календаре запланирован еженедельный или раз в две недели анализ прогресса на основе зазубренных результатов.— мои OKR могут быть достигнуты за 3 месяца— по крайней мере, некоторые из моих OKR амбициозны и выводят меня из зоны комфортаАлгоритм работы с...


CHECKLIST of Apple, Google, Facebook processes

Modern corporations have abandoned management to come to leadership. Management - you hire people to set tasks for them and control the execution. Leadership - you gather people for an idea, with whom you formulate goals and, instead of monitoring execution, you are engaged in freeing the team's paths from obstacles, most often in communications with other departments. Management - puts on positions, writes instructions, where a hierarchy of positions arises. LEADERSHIP- management at the level of interest for the joint achievement of goals, in order to develop first and second, to make money, where a hierarchy of goals arises, for which leaders take responsibility In other words, the leader manages through the mission, vision, principles of the organization, so that the team within internal agreements achieves its goals I digitized the most relevant processes at the start of the transformation of organizations, turned them into a mind map, which can be downloaded from the link in my profile @malikone In fact, here are the main points: Mission, vision principles and communication processes to the teamTeam - how do we find people like us, whom do we hire, adapt?Goals - how we set goals so that they are transparent at all levelsCommunication - how we conduct daily meetings, retrospectives, what channels we use, as task books, automationDevelopment - what processes help us understand who gets the promotion for what? So that the best find development inside, and not leave to look for a place for development on the sideOne-on-one meetings - the process of meetings every two weeks between the leader and team members, in order to sort out current goals, any other questions from personal life - is carried out in a coaching...



OKR are objectives and key results The goal is where (to what) I want to come Key results are all we need to know about how and when we plan to achieve our goal. Standard goals and metrics vs OKR Metrics and KPIs focus on past performance. OKR focus on the results of the future. Management through standard goal-setting = annual performance management Management through OKR = continuous performance management Standard goals and metrics vs OKRs Objectives and Key Results Basic principles: 1. Maximum 3-4 goals per team/employee 2. Maximum 3-5 key results for one goal 3. Formulate in a way that is understandable to other people 4. Key results should be specific, measurable, ambitious, and at the same time within the control area 5. Formulate for 3 months 6. They are put for 1 year, ideally for 3-4 months, but not for every month. We can monitor the result every month. Checklist for creating OKR — there are no more than 5 goals on my list — 3-5 key results are identified for each goal — each of the key results can be assessed in number or percentage or can be unambiguously identified as an achieved or unreached result through yes / no answers — I have enough resources, skills, and capabilities to achieve key results — I have a weekly or biweekly progress analysis scheduled on my calendar based on barbed results — my OKRs can be achieved in 3 months — at least some of my OKRs are ambitious and take me out of my comfort zone Algorithm for working with...


Hiring process

Before you start, you need to register and add employees to the service: instructions Where: Catalog - category “HR and staff development” - process “Hiring. Remote interview and candidate assessment ”link to the process This process will allow the bot to independently conduct a preliminary interview with candidates, then send their responses to the team for evaluation and suggest options for further actions for the candidate. Create this process and get a link that you can send to all applicants who applied for your vacancy - using this link they will have access to the remote interview process. How to add a process: Click the “Add” button to add the process to your personal account. It will be copied to the Processes section.Click the "Go to Process" button to open its settings How to set up a process: Who will evaluate the candidate - select the employees who will evaluate the candidate after he passes the interview through the bot before the answers are sent to the decision-maker (manager, owner, HR)Candidate Evaluation Questions - Questions that the bot asks your employees to evaluate a candidate. You can edit existing questions or leave as is 3. Questions for the candidate - questions that the bot will ask the candidate. Leave existing questions or edit them 4. The decision-maker will receive the results of the candidate's survey and his assessment by other employees 5. Selecting a bot, starting date and a group for the candidate - you can leave it by default 6. Link for an invitation - you can click on it to copy and send to candidates. However, the process must be running (Run button) for the link to work How do I set up notifications about candidate replies to private messages? Open the recruitment process (tab "Processes") and click the "Notifications" button Click the "+ Add notification" icon to create a new notification, come up with a name Select an employee who will receive the interview results Check the interview questions that will be answered by this employee Click the "Add" button How do I set up notifications for candidate responses to a specific group? Create a notification and switch to the “group” tab, then press the “Find” button and follow the instructions Press the button "Check" and...


Script training

Before you start, you need to register and add employees to the service: instructions Script training is hidden from the personal account of new users. To connect them, write a request to the support service The service has a salesperson voice training system that analyzes the manager's responses to the client at different stages of sales - for compliance with scripts (speech modules). You only need to add your scripts to the system and come up with a training script through a bot, after which you can launch this process for a sales department of any size. How to add your scripts: 1. Go to the "Scripts" tab and click on the "+" sign, in the "name" field write the name of the script stage (for example, "greeting" or "objection handling") 2. In the window that opens, click "add script text" and write a script that the manager should speak when communicating with the client. If the manager uses words in the script that should change in each dialog (for example, the manager's name), then instead of this word, several spaces or "_" characters are inserted in the script, for example, "Hello _ my name is _"‎ How to create a training: 3. Go to the "Training" section, press the "+" sign and follow the further instructions. 4. When you reach the item "Training questions" - click on the line "new question" to edit it. This question will be received by your manager, to whom you will set up the training. Set the question type to “Audio” to receive only voice responses. After that, in the “Script:” field, be sure to select the reference script previously entered into the system that corresponds to this question. After each question, you can create the next one by entering it in the "next question" column according to the same principle, and then click "save" to make it appear. You can create very long workouts that include a series of scripting questions. In this example, the first message will contain a greeting and an invitation to click the "Yes!" to receive the following message prompting you to train your welcome script: 5. Specify the date and time for starting the workout, select the default bot, and set up notifications if you need them, after that, you can start the process - the manager will receive a notification about the workout at the time that you specified. Process algorithm: 1. When the manager receives a question from the bot that you configured, for example, "Imagine that the client said" expensive "to you, what will you answer to him?", Then he must answer using the script that you previously added to the service and associated with it a question. The task of the manager is to hold down the microphone icon and speak the script for working out this objection, as closely as possible matching the script in the system. 2. The manager's voice message is sent to the service, the voice is transcribed into text and the analysis of the correspondence of its contents with the reference script is carried out. As a result, the answer is evaluated on a scale from 10 to 100, where 100 is in full compliance with the script. 3. If there are several questions in the training that involve the answer with a voice message with the analysis for compliance with the script, then as a result the arithmetic mean of the compliance is calculated for all stages of the script that were used in the training 4. The arithmetic mean is formed into points and displayed to the manager in the form of a training report, for example: 5. Manager's voice messages, as well as the results of his training, can be sent to any employee of the company or in a separate chat, depending on how you decide to set up notifications 6. Additionally, the manager's response is analyzed for the presence of parasite words and stop words, for example, "Well ... I don't know ... damn it ..." if they are found, they are automatically included in the generated report View and listen to the results of managers' training for a specific period or specific...


Meetings 1: 1

Before you start, you need to register and add employees to the service: instructions Where: Catalog - category “HR and staff development” - process “Meetings 1:1” How to set up a process: Add a process from the catalog Choose a mentor to conduct a meeting with your menteeDialog - opens the message builder, which already contains a template for all the questions needed for this process. Click on the first message to provide the name of the employee with whom the meeting is scheduled, and also insert a link to the document in which you collectively record the arrangements for these meetings (e.g., a google docs document) Choose the date and frequency of this processYou can leave the default bot and nameNotifications can be set upStart the...


Peak Experience Exercise

What is a 'Peak Experience'? Peak experiences are joyful and energizing moments in someone's career that give the employee a sense of value and purpose. What are they needed for? The Peak Experience Exercise is a coaching tool that allows training participants to look at their own values and career experiences through introspection or self-reflection. They will then be able to assess their current situation and determine what their career path might look like. Who can host this seminar? Within the framework of the seminar, the Peak Experiences Exercise can be conducted by HR teams or managers with their teams. What is my role as a mediator? Use this guide to guide your training participants through peak experiences and help them develop their careers. Ask open-ended questions and encourage the exchange of views between participants. This will help participants discover their own values and a potential path forward. How does it work? Participants will be asked to identify 3-5 experiences in their careers when they felt they were at their "peak" and 3 experiences that they felt like failures. The most important part is thinking about your discoveries. Can the participant identify any common themes or characteristics of their experience? For example, does time matter? Do they like working in a team environment more? Have they identified specific or abstract objectives? What are peak experiences for? Peak Experiences is a coaching tool that allows training participants to self-observe or self-reflectively look at their own values and career experiences. They will then be able to assess their current situation and determine what their career path might look like. Then the participants define their core values. Participants can value everything from financial rewards to recognition. The important thing is not to judge them and to make them honest themselves. If someone is motivated by the recognition, position, and job they want, they should be able to make it happen. If they are motivated by financial rewards, they can choose a job that has a quota or bonus incentive associated with it. Finally, the practice of peak experiences forces participants to reflect on how their current role or projects meet their values and how often they reach their peak of the experience. Is there a role that naturally fits? Is there an opportunity for them to experiment multi-functionally? Download questions for conducting training on peak...



Before you start, you need to register and add employees to the service: instructions The process helps the team to recognize achievements, plan a new work sprint and ask ourselves the question: how can we become better? It is important to use the principles of good feedback, not to criticize, but to help colleagues and the team find solutions. Where: Catalog - Project Management category - Team retrospective How to set up a process: Add a process from the catalogSelect who will participate use a ready-made question template or make changes to any of themChoose the date and frequency of the launchSelect the name of the process and bot (you can leave the default)Set notifications (optional)Start...


How to increase employee engagement?

The world is currently experiencing a crisis of employee engagement, and the latest data show that only 13% of workers worldwide actually do their job in the workplace. The Gallup Organization, an American Institute of Public Opinion, has tracked employee engagement in the United States since 2000. In 2018, they noted that in the United States, engagement was only 34%. The remaining percentage of employees were categorized as “uninvolved”, who are generally satisfied with their place of work, but not emotionally connected with it; they just come to work, do the minimum, and leave the company quickly if they get the best deal. In Russia, in 2019, the Theory and Practice project published a study of the corporate training and development industry, during which 270 respondents from 237 Russian companies were interviewed. 30% of respondents said that for them the key challenge of the personnel market is the low involvement of their employees in achieving business goals. So why aren't employees involved, and what can organizational leaders do about it? After all, numerous surveys and studies show that employee engagement has a positive effect on a company’s bottom line and increases customer satisfaction. Here's what Gallup offers: Include involvement in your human capital development strategy Gallup research shows that fast-growing companies have clear goals for increasing employee engagement. These include broad and active management involvement, a communications strategy, dedicated systems that enable leaders and managers to obtain and use employee engagement data, and training and development of team members. The best approach to engaging staff is not just "start and finish." Engagement needs to be an ongoing process that works in parallel with your day-to-day business processes. Use science-based tools to measure the engagement Since the study of employee engagement began in the late 1990s, many have started offering their own tools to measure and measure it. Almost every employee survey, regardless of its purpose, is called an “engagement survey”. But few tools have been validated or peer-reviewed. As a result, many companies are trying to increase engagement by focusing on issues that do not affect employees in any way and, as a result, waste their time. Understand where the company is today and where it wants to be in the future Many companies aim to increase employee engagement in a month, a year, or two. But the capabilities of each company are different. On average, companies are advised to outline a 3-year roadmap. However, it all depends on the needs of the company. The main thing is that the goals are realistic and achievable. 4. Focus not on specific numbers, but on the process Some companies focus on changing the overall percentage of employees involved, ignoring tactical elements that drive productivity. Engagement is the result of specific performance management activities, such as clarifying work expectations, providing people with what they need to do their job, ensuring development, or working on positive communication with colleagues. 5. Make engagement on par with other workflows Engagement means investing in day-to-day work and incorporating the concepts of engagement into the workflow, even as the organization changes and takes new initiatives. When leaders prioritize new initiatives, managers must provide employees with new resources and enable them to do what they do best. Building a culture of engagement requires more than just completing annual employee surveys. This requires the company to take a close look at the critical elements of engagement that will align with the organization's performance and human capital strategy. Managers and leaders should always keep employee engagement in mind because every interaction with employees can affect their engagement and the effectiveness of the organization as a...