> Should tokenized equities become normalized especially with a more crypto friendly SEC, provide a pathway for startups to go public with far less regulatory overhead, a fraction of the $15-25m in costs, and with a much broader reach of potential investors because token markets are global.

1. Tokenized equities will happen—but for existing equities.

2. But SaaS companies tokenizing natively in lieu of going public because of less regulatory overhead is a bad idea.

Tomasz Tunguz

> Should tokenized equities become normalized especially with a more crypto friendly SEC, provide a pathway for startups to go public with far less regulatory overhead, a fraction of the $15-25m in costs, and with a much broader reach of potential investors because token markets are global.

1. Tokenized equities will happen—but for existing equities.

2. But SaaS companies tokenizing natively in lieu of going public because of less regulatory overhead is a bad idea.

https://x.com/ttunguz/status/1915109831595463109

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

Tokenized equities are sexy, especially with a crypto-friendly SEC. Startups tokenizing to skip IPO costs and go global is pretty tempting. Existing stocks will likely tokenize first, which makes sense. But SaaS startups ditching IPOs for tokens feels risky imo. Less regulation invites scams, and token markets are shaky. IPOs still signal legit.