Unchained
The Chopping Block: VC vs. Liquid Funds, Friend.Tech’s Decline, Crypto Startup Exits - Ep. 704
Sep 13, 2024
Join Jason Choi, co-founder of the crypto startup Tangent, as he dives into the current ups and downs of the crypto landscape. The discussion hits on Friend.Tech's dramatic 96% token crash and the ethical challenges of early token launches, prompting debates about 'rug pulls.' They also tackle how airdrop farming skews user metrics, inflating perceived success. With the booming venture capital scene, they question if VCs add real value to crypto projects or just inflate valuations. Get ready for a candid look at the chaotic world of cryptocurrency!
01:06:40
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Quick takeaways
- The recent downturn of Friend.Tech's token emphasizes the importance of sustainable product planning and user retention in crypto.
- There are growing ethical concerns around early token launches, especially as accusations of abandonment and exit scams increase among teams.
Deep dives
The Quality of VCs in Crypto
The landscape of venture capital in crypto has seen an influx of participants since 2019, leading to a proliferation of substandard projects and valuations. Many VCs have been criticized for self-selecting projects that are not viable, resulting in an environment where valuations do not reflect actual value. This has fostered a cynical view of VCs, as the focus often seems to be on short-term cashing out rather than long-term project viability. Selective partnerships, such as with reputable firms like Dragonfly, are emphasized as necessary to counteract the saturation of poor-quality investments.
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