hottakes

Founders

This week, Q Inc has changed course with speaking with investors. Given I receive a lot of cold opens from investors on Farcaster, I would like to share that change with everyone publicly, and why.

Moving forward, we refuse to even begin conversations with funds who have ever (or intend to) engaged in token warrants. It is clear our values and beliefs are diametrically opposed, and this is a far easier filter to save ourselves the time. 

It has been a long path to fundraising principally because we are operating from a perspective that as a company collaborating on a fair launched project, we can not and will not do token warrants. Despite being upfront about this, this topic has resulted in a lot of time wasted in talking with crypto funds, because they do not believe equity has a path to return for them, and ultimately decline.

This is very telling because if they don't believe the company will be successful what use are the tokens, unless...?

fact: most crypto VCs are mid and opportunistic, not visionary with high conviction or operating experience

evidence: how many crypto VCs that were active on farcaster at peak in may are still here today? if they’re not active, where did they go?

:)

a true tier 1 VC is rare in crypto. founders, choose wisely.

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina