Composable Membership and its Role in Generating Social Capital — Mirror

Composable Membership and its Role in Generating Social Capital — Mirror

"How to Create Luck"

Luck is a concept that has fascinated humans for centuries. It seems like some individuals are just naturally lucky, always finding themselves in the right place at the right time. But is luck really something that we have no control over? Can we actually create our own luck?

In the world of blockchain and cryptocurrencies, there is a concept called composable membership. This idea suggests that having a token brings a community together loosely with a financial stake, but it is composable membership that holds a community together long term with social capital. In other words, composable membership allows individuals to form deeper connections based on shared values and goals.

In the Web2 era, membership was often centered around services. People would join a platform or organization to gain access to certain services or benefits. But in the Web3 era, services revolve around membership. This shift in perspective is crucial because it means that no one is fighting to be at the top of the membership hierarchy. The ownership of tokens, the building blocks of composable membership, is decentralized and not controlled by any single platform.

So how does composable membership relate to the concept of luck? Well, if we define social capital as the ability to build trust, experiment, and be flexible within a community, then composable membership becomes the key to creating luck. By fostering a sense of ownership and shared decision-making, composable membership prevents a social fork and allows for more creatively weighted incentives.

But composable membership is just one piece of the puzzle when it comes to creating luck. Another important factor is what Jason Roberts calls "Luck Surface Area" (LSA). LSA refers to the activities and areas of focus in our lives that increase the likelihood of positive random events. According to Roberts, the more things we do and the more people we tell about it, the larger our LSA becomes. This embodies an active attitude towards luck, where we actively seek out opportunities and make ourselves more visible to them.

Naval Ravikant, a well-known entrepreneur and investor, breaks down luck into four categories. The first is hope luck, which is when we passively wait for luck to find us. The second is hustle luck, which is when we work hard and stumble into luck by chance. The third is preparation luck, where we prepare our minds and remain sensitive to opportunities that others might miss. And finally, there is the ultimate form of luck, where we become the best at what we do. Naval suggests that by refining our skills and becoming experts in our field, we attract opportunities and luck becomes our destiny.

So, how can we actively create luck in our lives? Here are three actionable pieces of advice:

1. Expand your umbrella: Just like Roberts' concept of LSA, it's important to broaden your horizons and try new things. By exposing yourself to different experiences and areas of focus, you increase the chances of stumbling upon new opportunities.

2. Focus on what matters: While expanding your umbrella is important, it's also crucial to have a strong focus on what truly matters to you. By honing in on your passions and dedicating time and energy to them, you increase the likelihood of catching luck in a specific area.

3. Prepare yourself: Luck is not just about chance; it's about being prepared when opportunities arise. Take the time to sharpen your skills, stay curious, and remain open to possibilities. By preparing your mind and being sensitive to chances that others might miss, you position yourself for luck to find you.

In conclusion, luck is not something that is entirely out of our control. By embracing the concept of composable membership and fostering social capital, we can create an environment that nurtures luck. Additionally, by expanding our umbrella, focusing on what matters, and preparing ourselves, we can actively increase our chances of encountering positive random events. So, let's take ownership of our luck and create the opportunities we desire.