Social Capital
In an effort to revive my original blog, suryad.com, I've decided to share more of my thoughts and reflections. One concept that has been occupying my mind lately is social capital. While I plan to delve deeper into this topic in future posts, here are some initial thoughts:
A common misconception among young adults, particularly those in their early 20s, is the pursuit of financial wealth above all else. Whether it's investing in trending stocks or making decisions primarily based on financial incentives, this mindset can be detrimental in the early stages of one's career.
Unless you're in dire need of cash, striving to get into prestigious institutions like Stanford, only to land a job at Stripe or a similar tech giant, and spend your days tweeting, is not the most beneficial career move. This is not to say that working at such companies is inherently bad. In fact, you could be having a fulfilling career at Google, for instance, working on projects like Google Fiber. However, I believe that the focus should be on accumulating social capital, which is not something you can achieve by working at these companies.
Understanding Social Capital
In my view, social capital is about forming close relationships with a diverse range of interesting individuals and attracting like-minded people. The key to increasing your social capital is to engage in meaningful conversations with people who share your interests or work in similar fields. The best platforms for this include Twitter, small online communities, universities, and face-to-face interactions.
Twitter stands out as a non-intrusive social network where tech enthusiasts converge. It's an excellent platform if used correctly. Engaging with others, sharing insightful thoughts, and building interesting things can help you gain social capital. Direct messaging can also be a powerful tool, especially if you have a significant number of followers.
Small Online Communities
Being part of small online communities like genzmafia can be beneficial as they often consist of interesting individuals who are likely to know other interesting people. Contributing to these communities without constantly promoting your product can help you build social capital.
University/Real Life
Nothing beats the power of personal interactions. Most people crave meaningful connections and would appreciate getting to know interesting individuals. It's a mutually beneficial process.
Case Studies
Cory Levy and Lachy Groom serve as prime examples of individuals who are doing intriguing things behind the scenes and attracting interesting people.
The Value of Social Capital
The beauty of social capital is its longevity. Once you form a strong connection with someone, it can last a lifetime. Unlike money, social capital is not quantifiable. It's impossible to predict when an opportunity might arise from a connection, but the knowledge that people are aware of your existence is invaluable.
The Impact of Social Capital
A friend of mine went from having 50 followers on Twitter to 2k and raised a million dollars from Clubhouse in a matter of weeks, simply by sharing his ideas.
I am confident that if I chose to, I could drop out and raise seed funding on the same day, simply by reaching out to a few key individuals. This would likely trigger a domino effect, as investors often follow the crowd.
The Potential of Social Capital
The best part about social capital is its accessibility. Anyone can acquire it by engaging in meaningful conversations and providing value to others. Just like stocks, those with a lot of social capital recognize the long-term potential of individuals who provide value. Almost no one would turn down a conversation with a potential Brian Chesky, and
there are many such individuals reading this newsletter right now.
Remember, you are the 10x stock. Your value isn't just in what you can offer now, but in your potential for growth. By investing in social capital, you're not just building relationships, you're also investing in your future. So, start those conversations, engage with your community, and watch as your social capital grows.