nobody wants to talk about it, but crypto is facing a massive crisis for a simple reason

*everyone* decided to value companies on token price mimetics instead of revenue

which meant nobody bothered to get revenue

and now the whole space is running out of money

Meanwhile @proxystudio.eth and @dish just wondering where in the sheep’s meadow they can set up a inflatable pool to enjoy the next warm day.

Moisturized…

took russ haneman’s advice too seriously

not just a crypto problem...kind of a general startup/VC culture problem too! no emphasis on revenue/profitability

Only a very small number current crypto founder or executives planned for this because all of the ZIRP era leadership drilled that prices only go up, and VC funding is infinite.

and couldn’t run more airdrops to keep folks engaged