Kieran Daniels 🎩 on Warpcast

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woj ツ pfp

let's say the only requirement for supercast to have a mobile app and a free plan is $200k in the company bank account what's the best way to obtain the $200k, if: - i don't want to fundraise from VCs - i don't want to take loans - i don't want to launch a token i keep hearing about crypto projects getting more than this in grants but somehow it was never an option for supercast

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the best way would be through an accelerator program (YC, Alliance, Orange DAO) but that still falls in the VC bucket. highly unlikely to get $200K from a grant unless it's multiple grants (4 to 5). but challenge is each grant will want you to build on their platform so not that feasible.

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woj ツ pfp

yeah accelerators not applicable since they only want you to funnel to take more vc money in the future

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Kieran Daniels 🎩 pfp

Kieran Daniels 🎩

Accelerators don’t control you, you can do whatever you want and say no to any deals. They will take 5-7% that never dilutes though.

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woj ツ pfp

i never engage in a relationship that is not a win-win

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nicholas 🧨 pfp

zapier took YC and never any more vc. i would imagine YC is happy. a good crypto accelerator would be happy to have a share of a solid project, so long as there is an opportunity for them to sell within the lifespan of their fund (10yrs from fund start)

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woj ツ pfp

yeah if a reputable fund wants to give me $200k on a $10m, but i keep the company as an LLC that is never supposed raise any funding again i'm down to consider we can also add a SAFT to the deal

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Kieran Daniels 🎩 pfp

Kieran Daniels 🎩

Imo try and get a lead for $200k and then fill it to 500k or 1m with angels checks. You can 100% make this happen with your product and you wouldn’t have to give very much %. This would give you the runway you need to not need to raise again in 6 months (this will be why people are wary of 200k) and you will be still completely in control without any money big enough to have any influence. Maybe 1 conf?

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Kieran Daniels 🎩 pfp

Kieran Daniels 🎩

You’ll have to do an s corp tho, but that’s way better for you cause you can then have a personal LLC and run your s corp back to your personal. You also want a corp to be able to defer stock option taxes.

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woj ツ pfp

@kdaniels.eth you are 100% right, i could definitely do all of this im playing a different game though, i want to stay lean, independent and very lightweight operationally supercast can flourish as a self funded farcaster paid only saas web app but i also think how i can contribute to the ecosystem the best

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