Founders

it can be a marketing/growth engine and gives you a way to reward early contributors

also, launching it later on signals “this is the end, they’re cashing out”

i used to think token = ipo, think now it’s more like token = cap table

I think the problem with this analogy is that it’s a cap table that you have no control over

yes there are success cases (some projects on farcaster are a good example)

but crypto traders are extremely short minded. and in most instances having a cap table of short sighted investors will nuke your project if you’re playing a long term game.

building @revealcam @alfaca @offmarket @perl | alum South Park Commons | previously cofounder SBLY.com, eng at Stripe | peter-kim.com

I agree and, I think people are less short minded  if they've had access to something and seen it organically grow.

Also - the earlier you launch the token, the more time those that arent in for the longer term have to sell and get out, without affecting the project massively, whilst the project builds