Welcome to Remote Start Podcast!
Oct. 10, 2022

E28: How Community Ownership (DAO) Can Supercharge Your Brand And Understanding Of Web3 with Tyler Morrey

In this episode, we have a special guest, Tyler Morrey. Tyler is the CEO of Upside DAO and On Chain Community Collaboration platform that enables private companies to transform their communities into DAO and reward individuals with tokenized owner. We.. See show notes at: https://www.remotestartpodcast.com/e28-how-community-ownership-dao-can-supercharge-your-brand-and-understanding-of-web3-with-tyler-morrey/#show-notes


In this episode, we have a special guest, Tyler Morrey. Tyler is the CEO of Upside DAO and On Chain Community Collaboration platform that enables private companies to transform their communities into DAO and reward individuals with tokenized owner.

We are going to be discussing how community ownership can supercharge your brand. Something I'm super excited to dig deeper in with you. I bring on someone who's trying to change the way that brands think about community.

Tyler and his team believe that distributing tokenized ownership of a brand transforms community members into vested and passionate ambassadors and contributors. This concept is new to me and I couldn't be more thankful to be sitting across from Tyler today, hoping he can share his journey with the rest of the Remote Start Nation and drop some serious value with us on his business and this concept.

Remote Start Nation…

Let’s get into the show!

 

Learn more about Tyler Morrey at: https://theupsidedao.com/

Learn more about Remote Start Podcast at:  https://www.remotestartpodcast.com/

Transcript

Jim: What is up Remote Start Nation! Let's get something started. I'm Jim Doyon and I wanna welcome you to another episode of Remote Start, where I bring you stories and strategies on how to start a business, build a brand, and create your desired lifestyle.

On today's episode, we are going to be discussing how community ownership can supercharge your brand. Something I'm super excited to dig deeper in with you. In order to do so, I brought on someone who's trying to change the way that brands think about community. Tyler is CEO of Upside DAO and On Chain Community Collaboration platform that enables private companies to transform their communities into DAO and reward individuals with tokenized owner.

Tyler and his team believe that distributing tokenized ownership of a brand transforms community members into vested and passionate ambassadors and contributors. This concept is new to me and I couldn't be more thankful to be sitting across from Tyler today, hoping he can share his journey with the rest of the Remote Start Nation and drop some serious value with us on his business and this concept. Remote Start Nation, without further ado, I would like to introduce you to Tyler Morrey. Tyler, what's up man? Welcome.

Tyler: Hi, Remote Start Nation. How's it going everybody?

Jim: Dude, thanks for joining us, I do, I'm very excited. I believe, and you and I talked on the phone before this interview and I got to express my passion for community and how I think a brand can go out, and just by doing the right things within their community and getting attention and growing and giving back to their community, they can grow their brand to another level. And so when I came across your profile and you and I talked, I was like, this is perfect, I've gotta get Tyler on to talk about his brand, to talk about community, so here we are, my man. I'm very stoked to have you and actually welcome, thank you for welcoming him into your office here. This is where Tyler gets to work every day and his team. I don't know, I think I'd be a lot more productive, I got to come into somewhere like this every day.

Tyler: Yeah, we like it.

Jim: That's awesome. It's nice, you know. How long have you been in here?

Tyler: Oh, like five months. Okay. Five months, yeah. Before that we were, you know, we were at Kiln. you know, had a small, like 12 person office before that, yeah, we had like a little corner, you know, four person like a hundred square foot closet at Kiln that we were in basically, before that it was me and Jordan and Sampson in my basement. So Nice, it's been quite a journey and we just hit a year, so.

Jim: Well, congrats. That's a lot of growth in a year.

Tyler: It's, I mean, you know, it's hard to deal with sometimes, but you look back at it, it's crazy how much things can change and how quickly.

Jim: Now, I want to get more into upside, do I want to get into community, but let's get this started off by, tell the Remote Start Nation something about yourself that maybe was a little bit of a different journey in your business or something that they wouldn't know if they just met you.

Tyler: Yeah, so I would consider myself an artist to an extent, I think that creativity and you know, propensity for art are actually, I incredibly important when you're building a company, a brand, you're doing something new, right? You know, I used to play the drum a lot did some jazz drumming for a while got into oil painting at one point, but just, you know, finding a creative outlet, that it's a big part of who I am and I think it should be a big part of anyone trying to start a company. It just, it gives you an opportunity to get outta the box.

Jim: So I couldn't agree more, along with art and music, lately I found mountain biking to be kind of like my getaway and you know, trying to clear my mind on the path and not hurt myself at the same time. Yeah, so our music, Upside DAO, talk to me more about Upside DAO and your mission behind the brand.

Tyler: Yeah. so I mean you know, mission behind Upside DAO really stems from, you know, my previous experience working with lots of companies being a consultant and you know, recognizing that there are so stakeholders in the brand and you know, we'll refer to as community, but you know, anything from customers to suppliers to, you know, even your law firm, right?

Like yeah, the people who actually help you build that they do contribute so much value that, you know, we as business owners and you know, people who start a new business and we can't do it alone and you know, when you start recognizing that you know, all these people help you along the way, there's so much value that often, you know we end up taking for ourselves that really is built off of the contributions and the help that we received from the entire community and you know, I thought there's gotta be a better way to build a brand, there's gotta be a way for those people to get you know, a piece of that value they create, you know, we around here we call it upside, right? But it, for them to get a piece of that and for that you know, that ownership, yeah, and that novel experience to really drive them to contribute even more, right? Like I often, you know, Quasi jokingly refer to it as radical capitalism, them but the idea that, you know, your money doesn't generate returns in isolation, like your value should generate returns, your contributions should generate returns, and then if we all get to participate in that, we will build much better, stronger, he and bigger brands and businesses because of it.

Jim: That's incredible. And you started your previous career, you worked in the typical finance world, you did valuations, you've looked at a hundred different startups and more and got to see what they've done great, seen how they've failed. Did you take a lot of out of that in coming up with upside down in the model?

Tyler: Yeah, that's where it all comes from. like it you, I saw a lot of cap tables, right? Well, I saw a lot of those spreadsheets that have, you know, all the owners down their shares and you know, I you start to recognize, you know a when you look at a. startup that is generous with employee options, right? And giving ownership to their team, you see a lot more retention, right? Your employees stay longer, they care more, and they're more productive, they do a lot better at their job, and you know, you extend that and look at the company, you know, I looked at the companies that I worked with that had really good community initiatives, right? That fostered that community, they have, you know, their Discord server or like a Facebook group, you know, or subreddit where, you know, they really got people involved in talking about things and you see how much value that community actually drives and when you put two and two together and you recognize that, you know, if we have the right incentive structure here, right? If everyone is on an equal playing field, so to speak, in that what you do and what you contribute, drives value for you and drives value for everybody, people contribute even more and I mean significantly, right? That's in the end, that's how we ended up in what, three, two, cause that's, it's really the ethos of what people you know, focus on user and distributed ownership and what has that done? It allows companies to scale very rapidly, right? Like, you would never think that a company where it's value is literally just its brand, which is, you know, what NFTs are, you'd never think that that could really grow and then you look at and then you look at some projects like the, you know, board eight yacht club, which, you know, people can joke all they want about selling monkey pictures, but in the end it was at one point of 15 dollar billion business. And they did that in less than a year, right, that's what really empowering community with ownership can do.

Jim: Yeah, so talk to me for a second, I wanna get deeper into like web three and some of the more stuff with the business, but, you know, you're working for, in the financial industry and you understand there could be a big difference and make a change. Talk to me more about like, what was it that made you start and say like, I'm going to start my own thing, I've got something here. Did you know at first you just want to go off on your own and do your own thing or did you have this idea and then you went like, talk to me about it, tell us all about it.

Tyler: That's a journey in and of itself, right? Never, I would say yes, I always knew that I wanted to do something on because I wanted to build something, right, that I could, that I could look at look back at and recognize like you know, I put in so much work and created something beautiful, hopefully. I always knew I wanted to do that. I had so many different ideas, in the end I think really what drove me to finally, you know, step off the edge and do something about it, was that I found an idea that it felt like I could do something more than just build something, I could do something more than make money, I could step in and change the way the world operates and you know, hopefully, actually make it a better place.

Jim: Yeah. What was your first step once you, once you realized that and you knew that's what you wanted to do, what was the following steps what did it look like?

Tyler: I mean, I don't know, man. I just went for it, yeah. I first step was I needed people, I needed someone to help me with, there was no way we were gonna do, I was gonna do this alone, right. So, I talked to, yeah, the best people that I could think of and you know, it ended up being two of my coworkers and you know, Sampson was the chief operating officer at scale of the company we worked with and so was not an easy thing to do to convince him or you know, the others, but you know, in the end, me, Sam, and Jordan, we I mean, they were the two guys that sat down with me and said, you know this is possible and we actually care about the same thing, right? Like, we want to do this with you once I felt like I had that validation like I belonged to a that was really willing to push it forward I mean that gave you the confidence know that we could, we really could believe it.

Jim: Yeah, and so you brought them, brought them on board and I mean, did you have a business plan right now and said, Hey guys, this is what we want to do, this is why, what I want to accomplish, or is it more like, Hey, I've got this crazy idea that I think we can turn into something huge, like who's on board?

Tyler: That was it.

Jim: That's awesome.

Tyler: It was, there was no business plan, not even close.

Jim: That is fantastic. So then you, you're like, all right, basement my house, this is our office, let's get this going, and they both were on board.

Tyler: Yeah, and I mean's been a year and things have changed a lot, but, you know, without the right team, it is never possible.

Jim: That's, putting the right people around you is one of the biggest things you could do to grow your company, that's for sure. So you're at that point, you've got your team, now what?

Tyler: Well, that is a great question, right? No business plan, just an idea and you know, something to work on research, that's really all we did for like a month and a half, you know, I was reading the Investment Company Act and the Securities and Exchange acts, I was, you know, reading into anything I could get my hands on that you know, was either research about community and distributed ownership or like the actually reading the like, legal code and like understanding how it even would be viable, that was first steps, right, was just really seeing how we could actually pull it off, once we had, yeah a way to do it and go forward which obviously and by the way was not where we ended up and that's what you really need is that first step, that first proof that the idea could work, right? Yeah that and in our case, that we could even do it legally because it's not like we're the first ones to have an idea like this, right? We're not the first ones to say let's get a community on the cap table, right? We are at this point, one of the only people who's like, I actually have an idea where it's possible and where, you know, like it's legally viable at least, so I mean, you know, getting to that point was, was the toughest part and the most boring part to be honest, the like, the Securities Act is not riveting, Rule 7 0 1 is not riveting but you know, once you get past that it's a lot easier to, you know, then start convincing other people, right? Cause like for a business, like what we're doing software, we needed money, right? We couldn't just do this alone. And so, you know, we had to take an idea, go on the road and try and get people to invest in it, right? And that was not an easy thing either you know, when you come to it showing that you've really done the homework it makes it a lot easier.

Jim: You've done the homework, you've got a background in seeing what's, yeah, been successful with other companies, what hasn't been, you built a team that has a background like that's impressive.

Tyler: That's how you get started.

Jim: That's how you get started, and the fact that you just went out and did it, I applaud you. A lot of people sit there, they're sitting there right now and going, I have this awesome idea and I'm sick of what I'm doing, but you know what, they're not out there doing it.

Tyler: No. I mean, everyone can do it. That's the one thing that is the difference between someone who doesn't, doesn't, is just trying, honestly, like just getting out there and giving it a go is the most important thing you can do.

Jim: Just start it, right? Like, just get going and start it. So talk to me about let's get into more upside DAO, and let's talk about, you know, Web Three and Block Chain and like some of these new, these new things that are coming out that are changing business and has helped you to get into this new business that you're doing, like, tell us about it for the Remote Start Nation that doesn't know anything about it, let's hear it.

Tyler: Yeah, all right. Well, I mean, it goes by many names, you know, these days, we gravitate towards calling it web three, but yeah, I mean, what it's blockchain, it's cryptocurrency, right? That has evolved pretty significantly over the last, you know, 12 years since inception, and I mean, you can argue that it's incepted long before that, but, I mean, you know, from Bitcoin to now things have changed pretty dramatically and it's pretty hard to keep up with too, because there's just a lot of innovation going on in space, I mean, what it really means is, you know, for the first time in human existence using code, using data, we have a way to verifiably transfer ownership of something, right? Like we have a way without a bank standing in the middle to say like, Okay, well you have this, if you send money to this person, they have that money now, right? Like, we as a collective can determine that, so, you know, removing those intermediaries and the fact that it's all built on code, you know, allows you to also do that very scalably, right? And like also do new novel things that couldn't be done before, so I mean, really what Web Three is about, is about, I mean it's user sovereignty, it's putting the power back into the hands of the user and you know, like the fact that the social media giants of our world control all of our data and sell all of our data, we've lost our ability to have privacy you know our phones listen to us and when you talk about you know, Walmart, all of a sudden you have a notification from Walmart, right? That it's time to buy something, it's just we have been taken so advantage of and now we have a world in which we can change that, right? Where we have the power to do that, you know, it still requires trust though, like it still requires the people building those things to share that ethically and to try and build you know, software and products that actually align with that but at least now we have a space to do that, right? Where we can actually work with each other as people and peer to peer rather than, you know, through structures that take advantage of us. I think the last thing I would add though is that, you know what web three is, what it has become and what it really embodies is the fact that ownership itself has always been gated and now we just wanna remove those gates, right? Like if you think back, I mean, hundreds of years, we didn't even own the land we farmed on, right? Like feudalism, we owned nothing, it was all loaned to us, and you know, we lived and survived just by continuing to work until we died, right? And things changed, and then all of a sudden, you know, we have this beautiful thing called capitalism that allows us to, you know, build a war chest to retire, right? But then even there, when you have intermediaries, when you have people standing in, you don't end up getting the full value, right? There's always something that's gonna be taken, and so Web three is just saying, Hey, if you create value, you should participate in that, right? You shouldn't just be creating value for others, we together as a group, should be creating value for ourselves.

Jim: And so with that concept, you've talked to me about how community plays a role in that with brands and how you're leveraging that with upside DAO.

Tyler: Yeah, so I mean I think the best example is you know when you are a brand new startup brand that you know, you're just trying to make a name for yourself, get your product out there, marketing in the general sense is generally pretty ineffective. How do you build a good sustainable business from zero to one? It's you go out, you find those first five customers that just love what you're doing, they love your product or service, and then what you do, you focus on them so that it, what you're building for them is perfect. And then they go and they tell people about it, right? It's word of it like that is how you get from the zero to one stage and I think we often forget about the fact that those people who are the ones that the foot soldiers going out and sharing, you know, their love and their passion for your product or brand, like they're the ones helping you build that business, right? And you know, the at its core upside DAO is,  like about altruism, right? It's not like I'm gonna give you some shares because you know, you're you know, you're doing what you would already do, you know, it's about accelerating that, right? It's about saying, Hey, you know, I know you, one of my first five customers who loves this product is probably gonna go tell your friends about it, right? But you know, what if you were an owner with me, right? Like, what if you had a small piece of and then if we really build this to be a big thing, it could be significant for you. That community member, that customer, that person who actually cares about that brand, is gonna go do a heck of a lot more than they would otherwise, right. What that means is you build much faster.

Jim: Big time, it's a way of incentivizing them on a level that they're gonna see hopefully rewards from a long time to come.

Tyler: Exactly.

Jim: You know, in what we do in my business and in my past, building a lifestyle apparel brand like that was a big way that we built our community, was incentivizing the anybody that was wearing our product or talking about our product, you know, we would there was different rewards that we would give them and helped completely to build it to another level.

Tyler: Yeah. Changes it and I mean, ownership is really the piece that I mean, totally changes the game, allows you to do that at a completely different level, right? Like what, when you are building the business and you're giving, you know, rewards and things like that to people incentivizing them through traditional means, you know, the whole point of what you're doing is to build the equity of your business, right? Like for you as the person building that business, the thing that matters the most is that ownership, right? Like that's what you're working towards is making that valuable and when you say, you know, I can now incentivize you this way, where you get that same, in same incentive structure, and we call it the ownership mentality, but it's real, right? Like people all of a sudden start truly caring about it, those incentives are so much stronger, right? So much more effective and I mean it's important to note that like, part of the reason you don't see this is it just wasn't possible, right? Like as a private company, I mean for those listening that don't know the s sec controls you pretty significantly when it comes to how ownership is structured, right? Like, you know, if it's a partnership or if it's like an LLC or something, like you're limited on how many owners you can even have when, when it's, you know, a private company, you can only have 500 non-accredited shareholders and you know, we could talk about accreditation laws, but it's just totally bogus. The fact that we, you know, are now in this modern age and still limit what people can put their money in, right? That the greatest wealth generation event that has happened in the history of the world is technology, it's Silicon Valley, and for the last four or five decades since things really started getting built up there, if you didn't have more than $5 million in net worth, you couldn't even participate in that, right? Like you had to buy into the stocks that are, you know, publicly traded that are already at scale companies and your reward period is so limited, because you know, how much more can they actually, the whole point of going public is that you've grown to that size that now, like you're at scale and it's slow growth and it is in this rewarding and you know, we have all been forced to follow that and just watch as the I mean, the wealth gap has increased more over the last 20 years than it has in, I mean, decades. It's absolutely ludicrous that, you know, that we're all limited to what we can actually own or what, you know, where we keep and put our money in, and so, you know, that's why we wanted to step in and say, well, you know what everyone should have the opportunity to have equity in an early stage company.

Jim: So, if I'm starting, if I have a brand already started and I want to take it to the next level. Tell me how upside do can do that with what you're, what you're talking about right now.

Tyler: Yeah. So, you know, the way we structure things is you know, a private company can use our platform and we will create a DAO for them, right? What a DAO is then, DAO is an acronym. D-A-O stands for Decentralized Autonomous Organization, you know, conceptually what that really means is that, you know, it is decentralized in the fact that, you know, there's no limit to how many people can be involved, any, you know, it's open, people can just come in and start getting involved, and it's really, you know, there's no centralized entity controlling things, autonomous, it's built on code, right? Like it's built on smart contracts and on the blockchain and you know, everything that someone does to contribute through the platform, right? Like, they can be they can have a guarantee that they're gonna get that right, like the amount of times I've heard about people, joining a startup and being offered employee options, and like, Hey, we're gonna give you a percent of the company, and then like seven or eight months go by and you're like, Hey when is my option grant coming, and they're like, Oh, yeah, we can only give you a quarter or a 10th or percent, right? Like everything's done off like handshake agreements that hold no value, and so like autonomous is important, organization, we all pretty much understand that term, so, but that what the whole idea is that it removes the barriers to entry and allows community members to go into a space where they can communicate with each other, have discussions and help build this together, right? Like the huge value unlock here is not, I as the company incentivizes all of you, not this one to many connection,where, you know, I say if anyone goes and does this, I'll give you Amazon gift card, you know, you could say, because you are then the bottleneck. The value that the Dow provides is like they just do things on their own, right? Like talk with each other, they know what the goal is, they know the goal to build the business, and they're incentivized to do so, and so they just go out and they do that as a community, as a collective. Well, just finishing then the thought, you know how you know, someone uses it we set up  that DAO for your community, it is the legal entity is a limit limited cooperative association, so, you know, all these people are members, right? There's not, it's again, not handshake agreements like it's based of a ownership themselves in legal entity. So the members of the Cooperative, I own directly the cooperative, right? And then the company takes, you know, whatever portion that is, you know, let's say, you know, I mean, 5% could be anything, you could do 1% of the business that you wanna use to incentivize, but you take that ownership you know, and you know, through a financial instrument commonly that's gonna be restricted stock units, but you're going to issue that in exchange for services, right? So the co-op acts is like the service organization that is working for you, the business, right? And that work can be anything from discussing the product and, you know, helping you by giving product feedback, helping refine the product, they you know, use the platform, take to social media, spread the word anything that's gonna help build the business, make the product better, they're incentivized to do so. You don't have to worry about managing a community of possibly thousands of people, you are managing your relationship with the community as a whole, and then, you know, we also set certain guardrails to make sure that like, it's not a runaway issue, right? Like that the community, you decide for that, however much ownership you're giving, what that's worth, and then you set performance indicators, right? And metrics on the platform, so they hit certain targets in order to actually earn.

Jim: So who's matching, who's watching those targets? Who's making sure that they're hitting that?

Tyler: Codes.

Jim: The code is, yeah. Nice, so that's one less thing that you have to worry about as the brand owner.

Tyler: Yeah. No, the only thing you have to worry about as the brand owner, once you've, you know, issued that equity that then is vesting based off of their performance as a community, the only thing you have to worry about is you've gotta participate, right? Like, you've gotta be involved, you've gotta share your face, you've gotta be there talking with them, like that is what really makes people feel that sense of belonging is when like they feel like they're on the same level, right? Like they're, and often it's feeling like they're a part of, you know, a group with a shared purpose that has some sort of often exclusivity to it like it feels, you know, you're a part of a club. And, you know, that's your job, your job is to be there with them to help direct them to say, you know, that's a great idea, this is how it could affect the business, you know, just, just participating is all you really have and then they take care of the rest of it.

Jim: And so with a brand, and, and you and I had talked a little bit about community strategy, right? Like so, and the space concept.?

Tyler: Yeah, Space framework.

Jim: Yeah. So talk to me a little bit more about that cause I wasn't familiar with the space framework before.

Tyler: Yeah. No, Space framework is I mean, it's again another acronym, but it's a way for you to have a mental map of how to value community, right? It's understanding what sorts of things community can do that, that actually have business value, right? So, let's go down the line SPACES, you know, starting S stands for support, meaning a community can be, you know, a group of like, It's a bad comparison to like the call center, right? Like the community can be those people that really understand the product, they know what problems people have, and then customers, you know, can go to the community for answers, right? Product is the P that's, you know, I kind of mentioned it, but it's getting product feedback, it's refining the product it's giving the people what they want because they're all there incentivized to spend time to tell you exactly what they want. A is acquisition, you know, that's word of mouth, that's the community is going out and creating a larger customer base because they're finding, inviting and bringing on new customers. The C is contribution you know, again, that's similar things like they're I mean, even through our platform, people will be able to like, contribute to code, like help you build a website, right? Like you can use the community to, you know, bootstrap a business by you know them providing the services they do in their regular life, right? E is engagement. That's it's more of a open concept but, you know, people and I mean consumers, consumers make purchasing decisions often based off identity these days, right? Like, identify with that product. Therefore, you know, I purchase it because, you know, if it's apparel right? I want to show everyone what my personality is and I do that through my clothing, right? And engagement and driving, the engagement in the space that creates a culture that's valuable, right? That where people aren't just talking about business but they're, you know, posting, if it's outdoor peril, they're posting pictures about and telling stories about their adventures outside, you know, they're with their stuff, it's sharing those stories, it's creating content that, you know, we all want to consume, that's also not content, you know, like from an influencer that's targeted eventually towards, buying something, because the incentives are different, right? Like, I'm not just gonna get cash if you buy this crappy product, right? Like, I believe in this, this is what, you know, this, this product is my identity, and if you vibe with that, then come join us, right? It's creating engagement, creating that space. S, I don't know why success is at the end, because again that's it's more related to like customer success, it's you know, definitely important, you know, I think product acquisition and engagement are really the strongest concepts there to drive value.

Jim: But especially when you're talking about a community in general. So for the Remote Start Nation, I mean, we've talked about web three, we've talked about DAOs, it's a lot.

Tyler: There's so much.

Jim: There's so much to think about and so for, you know, those out there right now listening, what advice can you give them to do now that can change their business and the way they're looking at their community, the way that they're looking at growing and engaging with their community? What advice can you give them.

Tyler: Study, right? Like, get out there and read, honestly, like and I'm not a huge fan of this whole thing where, you know, you've gotta read so many books a week to be a founder or something like that, that's generally people who write books about what it's like to be a founder and how to be a successful founder, right? And that's it's not actually gonna get you there, right but you know, there is certain research you've gotta do, right? Like, you really have to know, do you really know the industry that you're in, know the key players in the industry. Understand who your competition is, who the compliments are to your business and, I mean, you gotta keep up on trends, you've gotta keep up on web three, right? You've gotta start researching it, right? You gotta know what all of this means for the rest of us, because in the end, there's so much to web three that is gonna change how we do business, that I mean, half of it's not been invented yet, and you know, staying up on that is gonna be super important. One, it's gonna help you cut costs because you're getting rid of in intermediaries, right? You're gonna make more money when you do this, right? When you get involved in what, three, you're gonna have a better relationship with your community when you go the what, three route, and you're gonna have so many more opportunities for digital aspects of your business, you know, even if you know you're not a software company, you're you know, sewing patches on shirts in the garage, right? Like you're building something cool. Some, some, you know, apparel company. Like even then, the, like, you don't just sell it out of a storefront anymore either, you know, you want to do direct to consumer and you know, digitally web three's gonna change a lot of how we do commerce so I'd say study know everything about your industry, know as much as you can about how Web three is gonna affect that, and know everything you can about building strong, healthy community because you know, you build that right foundation that is going to propel you forward when you hit headwinds, when you fall down that you have something that picks you back up because I mean, if you don't build it on the right foundation, you know, one manufacturing hiccup, right? Like one recall and it can completely destroy the entire business. But when you've got those people vested to care, you know, you're not alone and you don't just fail because of one thing.

Jim: I couldn't agree more, it's super important. Is there one place you would recommend to learn more about Web three? Where someone could go to and read?

Tyler: Oh man there is no one place that can get you everything you need, you know, there are so many different things to learn and in so many places. To be honest, if I had to pick one place, it'd be Google just right? Like, it's just get on and start searching, right? Like, what is web three? How does Web three affect my business, right? Like anything you can think of any questions you might have find answers that is the best way to do it.

Jim: Cool. There you go, Remote Start Nation, you heard it. Tyler, I wanna know what is your daily routine? Talk to me about what you do when, from you get up to, you know, the end of the day when you're done, and what are you doing over this last year on a daily level to help get to where you've grown this company from zero to, you know, 20 plus people.

Tyler: I mean, daily routine is pretty simple, I wake up, I get the twins out of bed, we feed them breakfast, I get ready and I head out to the office. I come home, we put the kids in bed and then, you know, have a glass of wine and watch Netflix or something with my wife, but the key I could say to you know, building something and focusing on, you know, how your daily routine affects that, it's different for everybody, I don't like all the stereotypes of like, you know, if you're not in the gym, you're not a good founder, right? If you're not, you know you're not exercising, you're not reading books every day, you're not doing all these things, then it's not gonna work, I think, you know, you find what works best for you and you take care of yourself, and by that I mean like you take care of your mental state, right? Like you, the one thing you can't lose is your excitement and your drive and your motivation, so whatever it takes to keep that, that's what you know, formulate your daily routine right now.

Jim: I to that and I agree with that completely, like I look at it and I talk about it in one of my earlier episodes, but you know, when you're starting a business and then also throughout, like as you're growing, I think it's so important to go back and look at it and say, what makes me happy? What is it that I can do to make myself happy, and if it's changed from where you started, then make the changes in your business to get that back, because too often I feel as founders as owners, we get so into the day to day routine and we're worried about the company and then we're worried about our home life and the fact of the matter is if we're not happy, the team understands it, they see it, it's different, the family definitely feel, so I'm with you, like, it's not, it's different for everybody, but it comes back to that one for me, that one glaring thing, and it's making sure you're happy and I go back to like, you know, understanding your why, why is it that you're doing this?

Tyler: Yeah. So, yeah, and I mean, I would say, understand your why, and you sure as hell should make sure that like your why also involves the other stakeholders and the people participating there, right? Like your why should be your community too, right? Your why should be, you know, what am I actually doing for people, right? That, I mean, we all know that, like, that actually is more powerful, right? When you're really focused on yourself, you know, the why can move around and like you can find opportunities to make money other ways, like there's always, the grass is always greener, but if you find the people in the cause, if you find the people in the cause that that doesn't go away, those people need and want what you have to offer and if you're focused on doing that and you know, not taking advantage of it, like you're always gonna be driven, you're always gonna be motivated because there's it's not just you.

Jim: Yeah, exactly. That's great advice. I know we're coming to an end here. I wanna make sure we let the Remote Start Nation know where they can find you, what they can do if they're interested in learning more about upside DAO, they wanna reach out to you personally, where can they find you?

Tyler: Yeah, so finding me is easy, I'm on Twitter, most of the time, that's funny enough, Twitter, not LinkedIn is where Web Three does Business but, you know, I'm also on LinkedIn, you know, we'll probably drop those in the show notes if you want. People can get ahold of me, you wanna learn more about, upside DAO go to the upsidedao.com you know, sign up for the wait list, that would be, you know, a great first step, we also have an incredible blog with, I mean, some team members and advisors who've written up a ton on how to start getting so, I mean, I said Google earlier, even Google the upsidedao.com and go to our blog that, place to start too.

Jim: Awesome. There you go to the upside DAO first, learn everything you can and then go Google everything else.

Tyler: You're probably gonna have to Google half of what you're reading, the articles anyways.

Jim: Well, you've dropped a ton of knowledge today, man I can't thank you enough.

Tyler: I mean, it was a surprise hearing from you. I'm so glad we did it.

Jim: Me too, man. And listen, I'm new to the area, so I look forward continuing our relationship and having you back on the episode and, you know, totally get the families together and drink some wine.

Tyler: Absolutely. That sounds beautiful.

Jim: Awesome. Well, Remote Start Nation, I hope you learned as much today as I did from Tyler. I hope you can put that what you heard into action from the bottom of my heart, I want to thank you so much for joining me on this journey. I can't thank you enough for spending the time here as you did today with Tyler and I.

Remember to leave a comment, subscribe, and share with the people in your community who you think can learn something from what you heard today.

So from that, I want to tell you and remind you, go start something, Start today, get up and do it. Thank you. Till next time.

Jim Doyon Profile Photo

Jim Doyon

Entrepreneur

My name is Jim Doyon. I'm a father to three awesome kids, husband to an incredible wife and the oldest sibling to a large split family.I'm currently on a mission and I can't wait to share with you. We sold our house back in 2020, and we've been traveling this beautiful country in a 42-foot Travel trailer ever since. We visited 34 states, and are about to embark on our second loop around the country, stopping at some of our favorite spots again, but also getting to see new areas that the US has to offer.We are trying to experience this life to its fullest spending quality time together. I'm running a business and building brands along the road. We've been fortunate enough on this journey to meet new friends, catch up with old friends and family on many of our stops. We love exploring each City from downtown's to the natural resources it has to offer. I'm passionate about mountain biking and it's not only in my way to get out and explore but to exercise, clear my head, think, and strategize.

Tyler Morrey Profile Photo

Tyler Morrey

CEO

Formerly a valuation professional and consultant specializing in complex financial instruments and complex capital structures. I worked with 100+ companies ranging from startups and small businesses all the way up to multi-billion dollar public companies consulting on valuation, fundraising, and strategy. With a background in valuation and securities, I made the move to being a founder in web3 focusing on the intersection of community ownership and regulatory compliance.

Currently, I'm the CEO of pieFi, and along with my team, building the UpsideDAO platform. UpsideDAO is a platform for forming community DAOs (Decentralized Autonomous Organizations) that enable a company to give equity to their community in exchange for accelerated upside. We're putting community on the cap table and creating positive-sum connections with brands and their biggest fans to help them grow faster and healthier than they ever thought possible.