Geoff Golberg
@geoffgolberg
Merkle aside, what startups have raised at billion dollar valuations where founders have conceded they’re still searching for PMF?
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kompreni 🚂
@kompreni
Most new L1s
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HH
@hamud
All these LLM companies that have raised billions to create god and replace labour.
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rish
@rish
truth >> spinning narratives
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Steve
@sdv.eth
https://en.wikipedia.org/wiki/Essential_Products My former employer!
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Inceptionally 🎩
@inceptionally
🤣 Love that Merkle catches a stray in your cast
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Zach
@zd
Most don't concede that they're still searching for PMF - that's the hard part about answering this question. But fwiw, I respect the hell out of Dan for conceding and publicly sharing that Farcaster doesn't have PMF yet - I think it's the intellectual honesty that's needed in a space like ours. I also think: 1. It's *totally* reasonable for Farcaster to raise at $1B+ val pre-PMF. Social networks end up being really huge (e.g. Facebook) or worthless. So 1B val is basically the weighted average probability of the future outcomes (0 or 1T+) 2. 150m raised on 1B val is just 15% dilution - so that's reasonable too 3. Dan and Varun have a great track record, and have committed to work on Farcaster for as long as they can - so that's reasonable too
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hellno the optimist
@hellno.eth
all crypto startups except maybe Safe?
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