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justin.framedl.eth
@ahn.eth
spoke with a serious crypto vc who said he's sick of seeing pump & dumps, that he wants to invest in meaningful apps that leverage useful innovations like USDC (his specific example) i then asked about recent investments he could share and he unironically replied: Catizen ... this is Catizen: https://catizen.ai/
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Cassie Heart
@cassie
Every "serious crypto vc" that says they want to "invest in meaningful apps that leverage useful innovations" still ends up doing the same thing as always: demand token warrants they dump on retail. I don't know if they've gotten so used to saying the line that they actually believe it or they just enjoy lying to founders, but either way the malignancy on the industry needs to be excised, and the only way to do that is to stop giving them the time of day. "But our LPs demand it!" they cry. But to issue a token that fulfills the warrant also triggers securities laws, meaning it will never happen, or at least not accessible to U.S. residents, so they're either lying to their LPs too, or they're okay with stripmining other countries' retail populace.
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justin.framedl.eth
@ahn.eth
inclined to agree with you and i get that any & all "no's" require justifications and shouldn't be taken personally just miffed when the contrast in revealed vs stated preferences are so stark! the "we want more apps" but then only end up investing in another defi lending protocol crowd also give me whiplash 😆
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~sarlev-sarsen
@sarlev.eth
the trouble is the only sustainable returns (actual revenue generating application) investors have seen are the tokenized defi projects. and the founders that they work with are ‘in it for the tech’ and like messing with wild algorithms and novel smart contract systems. the tech is already there now: you’ve got erc20 tokens. the big wins here are in making it *insanely easy from a ux perspective* to use them in the context of an actual software application—most of which has nothing to do with financialized assets or crypto trading. there’s a fair question of monetization strategies, but like with original saas companies, the exact revenue strategies will be sorted out after you build an exceptional product experience.
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