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Content
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https://warpcast.com/~/channel/openventures
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alex
@proxystudio.eth
Met a founder tn of a project I respect a lot. He told me the story of how they got funding in 2021 by contributing meaningfully, and early to a hot sector. Later they received grants and some vc backing too. Today they’ve built a bunch of cool stuff, and they also have 6 months of runway left. I don’t think they’ve done anything wrong, he emphasized how much they’ve learned, and how the growth trajectory of crypto has been different than maybe expected. #1 lesson I’ve learned in crypto: survive. It’s true for traders, but it’s equally true for companies or protocols. I want to go big and be aggressive, but we are actually being fairly conservative with our capital - at current burn with, 4 FT + 3 PT salaries, service costs we have years of runway. Most importantly we’re earning rev daily. 1 of my biggest fears since I joined FC was simply being too early. Survival is key, we’re laying the groundwork to do something significant here, and I want to make it last. play to win. Survive
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Apex777
@apex777.eth
Good advice, too easy to receive funding + have no income and burn through it in months not years. Runway is your friend - Particularly in this market.
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alex
@proxystudio.eth
Yes! I’m thinking about this a lot too re: our creators. How can we make moments of attention more generative for them financially, would it be better for them to earn only eth fees? Allowing them to vault tokens that they could use later to raise capital, etc etc Accumulate power, apex, bit by bit. Privacy is important, we like having you here pushing it all forward with us, keep it that way!
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