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3min chapter
Crypto’s 2023 “Health Check” | Vance Spencer
Forward Guidance
Uniswap, FedEx, and Kerb - What's the First Thing That Gives You Pause?
Vance: We started in a bear market. In the last bear market, it was just so embarrassing. There were no use cases. Everyone basically hated us. Nobody wanted to talk to us about the fund. Let alone give us capital. And I got a little bit of red flags sticking up at that point. When SPF and the FTX guys got in, it just felt like there was sharks in the water and there was they smell blood. That was kind of the vibe that I got"
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