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The crypto venture market is painfully slow
Sep 19, 2023
Mike Dudas, experienced investor in the crypto industry, discusses the painfully slow pace of dealmaking in the crypto venture market. He attributes the slowdown to dwindling real users and unrealistic founder expectations. However, he sees hope in the uptick of developer activity, promising better experiences and products for future crypto users.
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Quick takeaways
- The crypto venture market is currently experiencing the slowest pace of dealmaking ever seen, attributed to dwindling real users and unrealistic founder expectations.
- Announcements of funding rounds in the crypto market are being delayed, sometimes up to a year later, as companies wait for market conditions to improve and generate more progress.
Deep dives
Slow Pace of Deal Making in the Crypto Venture Market
The podcast episode discusses the current slow pace of deal making in the crypto venture market. According to the speaker, it is the slowest pace of deal making they have ever seen, even slower than previous months. They mention that many rounds done in the current market don't make economic sense, with companies raising funds without significant progress. The speaker also highlights that there has been a significant amount of pivoting out of crypto by some companies. Overall, the episode reflects on the challenges faced by founders in the current slower market environment.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode