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If you're building for crypto startups, make sure you're solving a problem that enables PMF (i.e., infra, auth, payments, treasury, distribution) vs. a problem they have after achieving PMF.
I recently explored some building tax and compliance tools for crypto startups and was reminded of this.
Here are a few lessons:
- Tax and compliance are important but are post-PMF problems. Most crypto startups do not have PMF and don't think about these issues at all.
- For the few startups that think about these issues, spreadsheets, block explorers, and traditional accounting software work just fine.
- Competition is good, too. Stripe Connect is positioned well to solve user tax and compliance challenges (i.e., tracking, generating, and filing 1099s), and Integral.xyz has built a world-class QuickBooks alternative for crypto teams. 1 reply
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