source project and bring to investment committee months ago, they end up passing because project was "too early."  Fast forward a couple months they hear that the same team closed "blue chip" funds and now they want to re-engage. Clown world

When VC’s say they are thesis-driven, what they really mean is that they are driven by someone else’s thesis

It’s crazy how many investors out there do no DD before writing a check and ape into an industry/sector only because everyone else is fomoing

For an industry that’s apparently so non-consensus, so much of web3 crypto is consensus, bunch of people buying the tops and fading the bottoms

I love investing in founders but god I hate the venture industry

bytebyte

@bytebyte