Founders

I have major respect for founders who return capital to investors if they realize what they're doing isn't going to work or be venture scale

Will only raise for Bountycaster if we feel confident about venture scale in the future and we need the capital + help to accelerate

Co-founder @bountycaster (bountycaster.xyz). Co-producer @ethereumfilm. Previously co-founder of Scalar Capital and product at Coinbase

Totally, but also worth acknowledging that every startup doesn’t work until it does.

The only “failure modes” are running out of money or giving up.

So if you have venture scale ambitions, you might as well give it a shot!

For sure, this is when they've tried everything or decided to pursue a business they know isn't venture scale. I've had a number of founders that did this after several years e.g. https://x.com/HarshOnInternet/status/1873565908787998754

Alternative I've seen a lot is founders who know this and use the VC funding to fund their lifestyle

3 years ago we raised $6.3m from @1kxnetwork, @coinbase, @kaiynne, @richardchen39, @delitzer, @shl, @6thManVentures, @FurqanR, and many (138) more for @0xMacroSecurity

this year we got it profitable, and concluded that it was unlikely to offer a venture-scale return

so, we gave…

harsh

The former is totally the right move (esp for a company like Macro - great business, just not big enough, seems like the founder felt this was right for all involved)

The latter is gross, and makes me upset for all of us trying our hardest to build something big