Founders

A second not immediately obvious impact of Merkle’s raise is the signal it sends to the market about how to build/fund a successful business in web3:

Not everything requires a token

Not every investor requires a near term token liquidation event

Building something new. 🟪 Host: /venturecapital /adventures /theitinerant

I like this take. If we are taking the goal of a billion users onchain seriously then every flavor of company/investor/investment needs to be welcomed to participate. Tokens are a hard stop for many/most and that isn't going to change in the near term. Prioritization should be enabling the builders and a bigger tent.