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ted (not lasso)
@ted
after a few years full time crypto since transitioning from the family office space, i still feel culture shock re: most family offices earned their wealth through insane sacrifice to build a company VS most of (loud) crypto earned it by being early to click a button to me FC feels like the former, not the latter
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J Finn 🎩
@jdotfinn
this is def true, few in the FO space that I have met like “crypto.” but FOs are in wealth preservation mode, whereas a lot of people in this space had nothing to lose. a lot of the FOs were started by much older entrepreneurs who themselves were ‘pioneers’ in their heyday too. the younger scions are mostly there to not piss it away (given the 3 generations rule). so to become a FO you still gotta have the wild risk-taking DNA anyways, imo.
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ted (not lasso)
@ted
eh, disagree based on my experience working with hundreds of FOs. i was helping set up and build family offices for newer entrepreneurs, including some crypto founders. they were friendly towards crypto, just not launching tokens too early. also, at one point, most family office principals also had nothing to lose.
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J Finn 🎩
@jdotfinn
oh wow fair enough. it must be different in the Valley then other jurisdictions, but also I mostly know the scions of the FOs whose goal is not to piss it away (diff. mindset). on your last point is the point I was making; they normally are the LPs into various funding vehicles, and it is hedged by major investments in the stock market. they don’t need homerun returns because they have a large capital base, where most people in crypto are swinging for at least 10X on every play.
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