The Driver's Seat #4

Issue Four - The History of Web3 in Chicago and Chicago People Getting Promoted

Author

Landon Campbell
April 10, 2023

Hey friends,

We’re back with Issue #4 of the Driver’s Seat.

Before we dive in, I wanna thank the students and faculty of University of Connecticut 🐺 and University of Michigan 〽️ for the hospitality this past week.

During my time on each campus, I discussed our newly-launched $80M Seed Program at Drive and highlighted the distinctive features of Chicago's tech ecosystem.

Visiting with Hillside Ventures (a student-run VC) at UConn

📍 Today’s Topics

  1. Becoming a Community Builder in Chicago 🫂

  2. Chart of the Week 📊

  3. The History of Web3 in Chicago 👾 

  4. Chicago People Getting Promoted 🎉

  5. Events around the City 🗺

Have feedback? Just hit reply — I’d love to hear from you.

Let’s dive in!

🫂 Becoming a Community Builder in Chicago

Chicago's startup and tech ecosystem is characterized by a refreshing absence of hierarchy, which is one of the things that I personally appreciate the most.

There’s no need to wait for your turn in line to contribute and make an impact towards the growth of the ecosystem; you can start doing so right away.

Becoming a community builder in Chicago's tech ecosystem requires a combination of passion, dedication, and effort.

Here are five steps (with cheesy driving puns) that can help you get started:

Find Your Lane:

Start by identifying your niche and determining what's lacking from our ecosystem (in your eyes). Look for others with similar interests and curiosity to join you on your journey.

Drive into the scene:

Attend local events and meet with people to start building relationships and trust within the community. Provide value to others and connect with those who share your vision.

Form Your Pit-Crew: 

Once you've established some connections, identify the initial 10 people who fit the profile of your ideal community members. Work together to lay the foundation for your community.

Rev Up Participation: 

Bring your crew together for a small gathering that can scale over time. Encourage participation and engagement by providing opportunities for members to connect, collaborate, and contribute.

Listen and Accelerate:

Keep your ears open and listen to feedback from your community. Use this feedback to refine your approach, make adjustments, and accelerate the growth of your community.

Maintain Momentum:

Keep the momentum going by hosting regular events and activities that bring your community members together. This will help to strengthen relationships and build a sense of community.

📊 Chart of the Week

According to a recent report by Carta, workers at startups in Chicago earn 92% of the base salary as workers in similar roles in San Francisco, but the cost of living in Chicago is significantly lower.

This means that workers in Chicago can expect to devote a smaller portion of their salary to rent and other essentials compared to a worker in San Francisco in a similar role.

In fact, Chicago is just one of many cities where startup employees can earn a comparable salary while enjoying a better quality of life. Houston, Dallas, and San Antonio in Texas also have a cost of living that is 51% or less than San Francisco.

So if you're a startup employee looking for a great city to work in, consider Chicago – we offer a fantastic balance of salary and cost of living.

👾 The History of Web3 in Chicago

When it comes to Web3 innovation, cities like Dubai, Miami, and Singapore often come to mind, but Chicago is also making its mark in this space.

Let’s explore the history of web3 innovation in our city:

After making their first bitcoin trade in 2010, Cumberland DRW was officially launched in 2014 to become a global leader in crypto-asset trading, specializing in institutional-sized liquidity for spot and futures products.

In 2021, Cumberland DRW executed Goldman Sachs' first-ever block trade in crypto.

The Chicago Blockchain Institute was established in 2018 to provide free education to the public and promote the use and development of blockchain technology.

They began with workshops and attended conferences before launching their first online courses in 2019 and obtaining status as a public charity.

In 2021, they introduced their Demystifying DeFi Course and started teaching their courses to an international audience via webinars, with plans to expand their educational offerings.

ImnotArt is Chicago’s first physical NFT art gallery, featuring digital art by a rotating selection of artists. They use an array of 12 horizontal, vertical, and square displays to provide an immersive art experience, allowing for still and moving images in high resolution.

According to co-founder Matt Schapiro, they hope to create first-of-its-kind digital/physical experiences, and give the NFT art community a place to gather and grow.

Decasonic is a venture and digital assets fund focused on building blockchain innovation. They leverage their extensive experience as both tech investors and operators to help blockchain founders accelerate product market fit and scale growth.

The firm has been investing in and building blockchain since 2013, with a systematic approach to growth, prioritizing people, data, and relationships as the core of their investment philosophy.

ETHChicago

ethchicago.xyz

To help showcase the amazing innovation and development happening here in Chicago, the local Web3 community is getting together to host ETHChicago, which is a three day conference and hackathon focused on bridging the gap between Web3 technology and traditional businesses.

Starting on September 15th, ETHChicago will be Chicago’s first blockchain based conference bringing blockchain based companies (from the financial sector and others) and non-blockchain based businesses together to highlight Chicago on the global Web3 stage.

You can learn more about the event by visiting [ethchicago.xyz]

🎉 Chicago People Getting Promoted

Congratulations are in order for a few of my friends that recently announced new roles in Chicago!

Keep going!

🗺 Events Around the City

Ethereum and NFTs Hangout

  • Tuesday April 11th

  • Hosted by ImNotArt NFT Gallery

  • Sign up here

2023 Cozad New Venture Challenge

  • Thursday April 13th

  • Hosted by University of Illinois Champaign

  • Sign up here

Supply Chain Tech Talk: Last Mile Drone Delivery

👋 See you next time!

Thanks for making it this far! 😎

Any feedback on how I can improve the Driver’s Seat would be greatly appreciated.

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