who wants to give up more equity of a wildly profitable and growing business? and I think finance people like funding finance things because they understand them

Venture debt is like a delicious sandwich that only costs ten cents, but occasionally explodes in your face. 

If I were running a startup, I don't think I'd ever take it.

Paul Graham

Building global interoperable roles @ hatsprotocol.xyz | DAOs are the endgame of crypto

https://x.com/paulg/status/1225764602086076416

nm nothing to see here https://mercury.com/blog/inside-mercury/natixis-credit-warehouse-announcement

turned out not to be venture debt at all https://warpcast.com/w/0x0d855d90

He obviously has seen a lot more late stage stuff than I have. But something about mercury being an incremental innovation in an existing market seems relatively low enough risk for it to make sense here. Especially if you’re applying capital to a working funnel that spits out LTV > CAC