sari

DAOs might be the next evolution of the firm. They have some advantages that will inspire their growth, such as ease of creation and a current lack of regulation. It is likely that DAOs will gain many analogues of the legal structures enjoyed by the C-corp. I imagine banks will offer traditional fiat accounts where access is gated by multi-sig smar... See more

Raising a lot of money did not necessarily mean a company’s exit value would be higher: 79% of the companies raised less than $50 million in total funding before exiting.

Tokens that get their value from "governance rights" are mostly bullshit. In order to assess whether the governance rights are actually valuable, look at 3 related areas: - Scope - Scale - Selfish Benefits Quick 🧵

The open secret about business is that all the experts communicate in frameworks but don't think in frameworks.

While big funds need to have sharp elbows -- they need to prove to founders that their money is better than their rivals’ -- solo GPs can pull together Liquid Super Teams of other solo GPs who, together, would give the company a better chance of success. Companies like Party Round will make this even easier and more common.

The way of the tourist is to consume; the way of the pilgrim is to be consumed. To the tourist the journey is a means. The pilgrim understands that it is both a means and an end in itself. The tourist and the pilgrim experience time differently. For the former, time is the foe that gives consumption its urgency. For the latter, time is a gift in wh... See more