Cassie Heart on Warpcast

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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...?

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Cassie Heart pfp

So, they do not believe it or get it, and I do not have any more time to spend trying to explain how a company can help build a protocol and make money without being a scheme for dumping on retail for revenue. And so they're out, permanently. Don't let the door hit them where the bad thesis split them. But wasted time does not warrant a diatribe, rather a pithy "pick investors that align with your principles", so why this post? Because founders on here should understand what some of the funds are doing, as I and others, who I will keep anonymous, have learned the hard way that "no" is not the worst that can happen.

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Nico Gallardo 🍄 pfp

Nico Gallardo 🍄

thank you for sharing Cassie i couldn’t relate more to this, we’re currently facing similar dilemmas and looking for solutions… im curious, what’s keeping you from just selling the token to the community as a fair launch? e.g. using @juicebox im happy to share an approach we thought about and what we think are pros and cons of doing that all in all, count on me on the crusade to make the industry cypherpunk again

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ted (not lasso)

admire you, respect you, love you, support you always in your corner

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say the word, queen. we ready.

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antimo 🎩 pfp

I still struggle to believe that any VC would prefer tokens to equity

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ted (not lasso)

unless…? 💯

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Ivy pfp

ty for being you 🖤

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links 🏴 pfp

Thanks for sharing your perspective - it's really valuable for other founders.

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Darryl Yeo 🛠️

Unfathomably based.

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↑ antaur ツ pfp

Dear @laurashin and @camirusso FYI I am sure you have heard many such cases? Since you are (imho) two of the few proper *journalists* in this space, I would love to hear about this in an episode or even series. Why? This VC behaviour could also be a key reason why crypto has such a terrible standing in politics, mainstream media and thus society at large? Even if Cassie wouldn't want to spend her precious founder energy on going more public than here already, I think you'd find a few founders who would. Plus, there is always one (VC) *whistleblower* who hates this practices but is somewhat locked or blocked and won't speak unless anon, not using real names. They could even have their voice changed for total anonymity. Irrespective of / especially bc it's election season this *truth* (big word ik) is worth a bigger audience. Ii would go as far as putting 50 USDC /skininthegame to fund a bigger *investigative piece* to be published asap.

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Catch0x22 pfp

few realise how big of a problem this is and you're a legend for speaking out preciate u

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pretty cheeky these vcs asking for tokens, besides equity which is written in paper, they get an additional $ from the token's potential value. good deal for them, very greedy. considering the potential of Qs tech, they're asking a lot.

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↑ antaur ツ pfp

Thanks for sharing! Comes across as brave and audacious given the power VCs have in the space. Good on you and good for you - it might eventually attract the 'right ones' to let in. Just out of curiosity, have you ever spoken with https://greenfield.xyz/portfolio/ idk if they have ever done token warrants but they are a Germany-based early stage VC that took bets on many a company that are not typical dump on retail. I might be naive but I know one of the founders who (at least 20 years) ago had strong morals and values (have lost contact since then)

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Petra ⊙ pfp

@federicocarrone @0xtoucan @worthalter are contrarians possibly interested to go against the tide 🤔

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Payment Bot pfp

@cassie, you just received 10 DEGEN from @ghg5161!

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Ox Bid pfp

Cassie, thank you so much for sharing this🙏 It means a lot to me. I often blame myself for not being good enough and hearing 'NO’ but sometimes it's not about us—it's about them. I wish you the best of luck with everything you do.

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EulerLagrangodamus - bank/acc

@eulerlagrange.eth

Hope I have the balls someday 🫡

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ernest @ GC pfp

unless...? 😂

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Les Greys pfp

I really enjoy your passion! Thanks for always putting it out for us to consume.

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