Content pfp
Content
@
https://warpcast.com/~/channel/openventures
0 reply
0 recast
0 reaction
alex pfp
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
16 replies
9 recasts
98 reactions
agusti pfp
agusti
@bleu.eth
as long as the burn rate is lower than the income/growth rate i think u safu
1 reply
0 recast
6 reactions
alex pfp
alex
@proxystudio.eth
We’re definitely fine, Bryce has some good projections. But I remember 2021, I remember when this founders project first launched - using it! Easy to forget that was four years ago, and that many of these projects have entire, big teams on payroll. It’s good to think on multiyear time frames I think, look at Ted for example. Has been here for a long time, now is working for WC! Having an impact. That impact will play out over a longer period of time, just like the path that brought her here
1 reply
0 recast
7 reactions