Crypto founders and VCs alike unconsciously underestimate the time needed for startups to work

Startups are hard and it’s common for time horizons to be 5-10 years until a liquidity event

Because liquidity could be achieved before PMF (ie. prematurely) in crypto, mindsets became warped and disconnected from reality

I suspect we’re returning to a phase of more realistic liquidity timeline expectations and incentives aligned towards long term value creation.

👇

Principal at Cobalt Ventures. Write @ TheItinerant.io ; BenErsing.com Host: /venturecapital /finance /adventures

I really do hope we return to that phase where there’s realistic expectations on startups and more priority is given to value creation 

By the way, do you agree that when VCs funds projects, it might have its positives but often leads to mediocre, unsustainable and low value-adding projects, as compared to projects with internally generated revenue ?