venturecapital

hottakes

// vibe architect \\

host of vibe check podcast ▶️ 
https://pods.media/vibe-check

icebreaker.xyz/dawufi

fair distinction

I'm not as confident about the consumer funded apps tho (unless you're talking about ALL consumer).

In crypto, being attractive as VC investment is mostly at odds with building something people want.

THIS is the reason why we don't have 1B users in crypto yet. 

Also not even trying to dunk on VCs here, it's a natural outcome of incentives and the accelerated + inflated payouts enabled by tokens

Building something new. 🟪 Host: /venturecapital /adventures /theitinerant

My two cents:
- web3 has been synonymous with tokens since 2010, its going to take more than a few years to buck that trend

- VCs have a fiduciary responsibility to their investors based in what is outlined in their fund documents, and most LPs want high risk / high return potential from tokens 

- If VCs want to compete and get funded, most have to offer the expected type of investment strategy

- The tide will change once someone builds the first $1B consumer app with no token, or people will refine the tokenomics model so benefits generally outweigh harm

To build a proper consumer app in crypto you have to really think long term.

That essentially means:
- build a product people want to use first.
- gain traction without a token. 

The core incentive to use should be the product, not a token.

And only after that you can also understand proper mechanics to develop a tokenized incentive system to 10x or 100x that, building a stronger and positive cycle of growth.

Most crypto VCs are not interested in this. It takes too much time, and it's not narrative based.