I just finished re-watching the playlist "Why I Use Jaxsta" on the Jaxsta YouTube site, and it reminded me what I've invested in.
I want to avoid comparing Jaxsta to other companies, and making outlandish statements, and revisit some of the principles of my "investment thesis". I would like to point out a marketing term known as top-of-mind awareness, which refers to a brand or specific product being first in a customers' minds when thinking of a particular industry or category. There are many examples of how much marketing spend name companies drop to stay TOMA amongst consumers, and how important it is.
It's continuously drummed into us that Jaxsta is building TOMA for "Official Music Credits". When you give the YouTube playlist a watch, listen to how each individual knows to go straight to Jaxsta. When thinking about comparable and related companies, think about what Jaxsta's effect on these companies are, and what risks it poses to them, and of course, vice-versa.
An oft phrase I seen on here is, "but Jaxsta is just the same as freemusiccredits dot com". But there is no "freemusiccredits dot com" with TOMA, reputation, trust, or brand.
Another way to track how brand awareness is going, is to simply take a look at their engagement on socials. Their socials where shocking maybe a year ago, but I have noticed a new theme on Instagram specifically. Individuals are starting to thank Jaxsta, and are starting to recognise the brand. It's important to note that while engagement is still low, top tier candidates for "pro" and professionals in the industry are happy to engage with Jaxsta via the video series I've referenced and their Humans of Music podcast, or direct on their socials. Another, similar interesting development is the claiming of profiles by high profile individuals. You can counter both these points by saying that as shareholders we're probably paying these individuals to participate, or maybe that it's just a secretary that is claiming the profile.... But either way the company is starting to build a reputation, and all contribute to the all important words of TRUST and REPUTATION
Sure, the SP action has been absolute garbage, and I anticipate it will stay garbage for some time to come, but JXT is following the same path as all the others, just before they hit TOMA for consumers. Our consumers, unlike other big name comparable tech companies, aren't "everyone that can afford iPhone" or "everyone that has access to a browser and a job", so the initial numbers are low, but consider that the numbers are a percentage of the total addressable market, and you might start to frame the adoption a little differently.
But our TAM is tiny, how are we going to monetise, even if we hit 100% on TAM we're not going to be worth much blah blah blah
What we're talking about, is establishing trust, by bringing value, bankable value, direct to consumers, which in turn drives organic trust, reputation and brand loyalty. Jaxsta's play is on the money, and it's absolutely absurd to think that they won't be able to pivot to increase TAM. I won't make any outlandish statements about what's possible, but use your damn imagination.
There is an interesting value proposition when you consider just who the individuals are in our current TAM when comparing it to other companies. I will leave you all with one outlandish statement. LinkedIn started an explicit Influencers program in 2012, I vividly remember how absurd it was to think that about Bill Gates and Richard Branson on LinkedIn. Whenever anyone on this forum makes outlandish claims about celebrities making profile claims on Jaxsta, sure, it sounds absurd. But what is going to be more absurd, is the day that we hear the words "Jaxsta" come out of the mouth of someone like Ice Cube on a YouTube video somewhere.
(20min delay)