Daily insights for city builders, delivered every morning at 6 AM ET. I’m Brandon Donnelly — a Toronto-based real estate developer and founder of Globizen. I’ve been writing here since 2013.
When you have an idea for a startup, ask yourself: who wants this right now? Who wants this so much that they’ll use it even when it’s a crappy version one made by a two-person startup they’ve never heard of? If you can’t answer that, the idea is probably bad.
Paul Graham (@paulg)
You want to know how to paint a perfect painting? It’s easy. Make yourself perfect and then just paint naturally.
Robert Pirsig (Zen and the Art of Motorcycle Maintenance)
The Millers have invested the last two years and nearly a million dollars in trying to answer this question: Why can’t small-time investors put their money in their own communities? Then, finally, in August, they successfully took a single property on H Street public. Under a new company called Fundrise, the Millers invited anyone in the area – accredited or not – to invest online in this one building and its future business for shares as small as $100, in a public offering qualified by the Securities and Exchange Commission. By the time the deal closed last week, 175 people had together invested $325,000, for just under a third of the whole project. If the rest of this experiment works like the Millers hope it will, the idea embedded in this one unassuming storefront could have an impact on communities everywhere.
The Real Estate Deal That Could Change the Future of Everything
