Ownership Report #19: Inner Table (@theinnertable) Inner Table is building offline poker studios in India, and we got founder Kirat (@Kirat_tw) two days into the raise, the second on @backabledotbiz by @MetaDAOProject. It's already 94 percent filled, with a $150K minimum and a $250K cap. Online poker was banned in India a year ago, but offline games of skill are decided state by state, and poker is now legal in five to six states. Day one takes $100K: $60K for setup, $20K for licenses and $20K for salaries and hiring. Even the worst case, one table and 18 players a day, works out to around $25K a month, while most local studios do $75K to $100K and the top ones do up to $300K. Plus why the smallest, worst located studio in town wins, dealers earning $3,000 a month, and a studio under 2,000 square feet that made $1.5 million in under six months. Full breakdown below: 0:00 Welcome, and a raise 94 percent filled in two days 1:07 Raising $150K to $250K for poker studios in India 2:01 Why online poker was banned but offline poker is legal 4:24 Regulation as the only real risk, and the plan if it turns 6:16 Where the first $100K goes 8:25 Why the smallest, worst located studio wins 10:05 A team of 12 to 15, and dealers on $3,000 a month 12:12 The supported by tag, and MetaDAO vetting founders 13:41 Anonymous backers putting in $10K to $15K 14:58 Why raise for an offline business 16:09 A small studio that made $1.5 million in under six months 17:14 Commoditized software and licenses as a moat 17:45 What the January 2027 mainnet date means 18:14 The worst case: one table and $25K a month 20:06 Average and best case, up to $300K a month 21:43 Do your own research, and don't feel pressured This show is sponsored by @MetaDAOProject

Ownership Report #19 w/ @kirat_tw from @TheInnerTable xitter.cf/i/broadcasts/1YGNrbMLM…

Ownership Podcast S2 E2: Kirat (@TheInnerTable) "Taking poker mainstream, one studio at a time." 00:00 Intro 01:00 @kirat_tw's background: Superteam, Backpack and a 600K YouTube channel 02:16 From Goldman to Gather Town to Backpack 04:56 Surviving FTX and going all in on YouTube 06:02 What The Inner Table is and why poker 06:49 How India banned online poker but legalised offline studios 08:03 The economics of a poker studio 09:43 Kirat's poker history and what the game teaches founders 13:29 Bigger ambitions beyond one studio 15:52 What makes The Inner Table different 18:48 Community, licensing and the launch timeline 19:56 Why Kirat chose MetaDAO and Backable 21:29 The raise: terms and what $100K builds 23:11 What early success looks like 24:15 The biggest risk: regulation 26:22 Where crypto could fit: token perks and freerolls 28:01 Why back The Inner Table and closing thoughts This show is sponsored by @MetaDAOProject

Something that went quite under the radar with @ripcarsio is how the team managed to ship a fair valuation engine for collector-grade Hot Wheels. Ahead of launch, this was one of the core problems they had to solve. Users would only trust instant buybacks and the marketplace if the platform could accurately price each model. And that problem was harder than it sounds. Unlike Pokémon cards, Hot Wheels didn’t already have a mature pricing market with multiple trusted sources to rely on. When we interviewed co-founder @allocateur on Ownership Report before launch, he was very clear about the stakes: “A very important thing for the secondary market and for our business is to develop a fair market valuation engine that people actually trust.” A few months later, Rip Cars is live, platform buybacks are working, and Hot Wheels can even be used as collateral on Jupiter Offerbook thanks to a reliable valuation engine.