Content pfp
Content
@
https://warpcast.com/~/channel/splits
0 reply
0 recast
0 reaction
🎀 sonya (in theory) 🐰 pfp
🎀 sonya (in theory) 🐰
@sonyasupposedly
Project coins are capital formation at internet speed and scale. Okay, first: what is capital formation? It's when money becomes machinery for making more things happen. Various funding sources are combined into a single "pot of gold" dedicated to a particular purpose. Before capital formation, you have disparate financial resources sitting in different accounts, proverbially twiddling their little money thumbs. After capital formation, you have a Real Thing: a startup with runway, a factory with equipment, etc. For example, two founders might combine $50k personal savings, a $100k angel check, and a $25k customer pre-order. Before: hobbyists with a side project and day jobs. After: they can quit those jobs, hire another developer, and focus full-time on executing. Same people, same idea — but now they have the economic ammunition to make it real. That's capital formation. 1/2 👇
3 replies
1 recast
14 reactions
Colin Charles pfp
Colin Charles
@bytebot
The immediate capital thru trading fees/creator rewards doesn’t actually have you building stuff that is a long term play though :( If you want to build something of substance, you really do have to look at the typical seed rounds - like $350-450k before you manage. This is the minor detail not quite addressed but otherwise good post.
1 reply
0 recast
2 reactions
🎀 sonya (in theory) 🐰 pfp
🎀 sonya (in theory) 🐰
@sonyasupposedly
it's a good point! was just talking about this with @jake today — with a successful project coin at today's ecosystem size, you can do lean bootstrapping, but you can't really proceed down the typical startup path. should have been more clear about that in the essay
2 replies
0 recast
1 reaction