Zach
@zherring
Honestly I view this as admitting that they don't have the expertise to invest in more exotic crypto plays. Stablecoins has clear PMF w/ the size and vol that's needed for a VC win in terms of equity vs token warrant. I respect that they're honest with the game they're playing.
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Jayeharrill.eth
@ferns
It’s because a startup working with stablecoins are more likely to find a path to liquidity via equity vs tokens.
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Zach
@zherring
Agreed! That's what I was trying to get at re: equity vs. token warrant. They don't want 5% of BodenWifHat, they want 5% of Circle.
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Jayeharrill.eth
@ferns
Right but they take equity no matter what, so the ones that tokenize rug YC
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Jayeharrill.eth
@ferns
**only tokenize
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Zach
@zherring
I thiiiiink YC's been including token warrants for a little while, but can't say definitively, merely heard that circa 2021-2022. How binding theirs is, idc. Ours seems really binding to me.
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Zach
@zherring
Then again, not a lawyer, and I'm sure less scrupulous teams can get around it.
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Jayeharrill.eth
@ferns
Interesting, you’d think they would have figured out crypto at this point
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