How a Traditional VC Could Approach Crypto / Web 3

0/ How to get started in Crypto - the Playbook. I have a lot of new followers, and a ton of web3 curious who have DMed me we. So I wanted to share some lessons learned from my 18-month journey going all in. These are notes I took for myself. 🐇 🕳 A multi-thread thread 🧵👇

By definition, you will likely succeed a vanishingly-small percentage of the time, but—as the saying goes—that’s a feature, not a bug. The point is to venture—fistfuls of money in hand—at the furthest extremes of capitalism, hoping to stumble upon that rare, proper intersection of technology and commerciality.By design, most investments will miss t... See more

This means crypto is democratizing access to otherwise private investment opportunities — I think this is pretty cool. But crypto projects still want access to VC capital and expertise. Good VC investors can provide a lot of value and help projects grow and succeed.

The Three Components of Crypto Success: Product/market fit, Community participation, Sufficient decentralization (community ownership)

The need for product/market fit is obvious. Without a product people want, there are no users, no business, and it will be difficult to sustain a community for long. Community participation and decentralized control

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