Crypto’s sad paradox is you can raise too much on big promises & little to nothing on a low fidelity prototype. https://twitter.com/joeykrug/status/1020833447848259584 …
The scale of what can be raised and how early is unique, but that paradox applies to most of tech investing
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Fair but do you think a prototype will raise lesser in equity funding than just a pitch deck all else equal? cc
@lpolovets (what do you think?) -
Well, the similarity is that in all cases once you see a prototype or early revenue then you must switch from pitching potential to pitching how people should extrapolate from now to the future. Regarding a prototype, it depends on what is being built.
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Fair point. But I do think the bar for raising money in crypto is extremely low. Savvy investors & accreditation play a meanginful role after all. I agree w you that the scale is very unique in crypto.
End of conversation
New conversation -
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