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

that’s not true. you choose how much of your cap table you have control over. bad examples in the past is not a problem with the model, it’s a problem with the examples.

also post IPO, when the shares are fully liquid, a company with stock doesn’t control its cap table either.

design @splits | /wireframe /latenightcrew /event-pass /feud

i don’t disagree with that, but not controlling too much is different than having no control at all.

also i agree with you that FC is the place to do it

if you control too much of the supply you’re at the danger of your project being deemed too much of an dev execution risk

post IPO it doesn’t matter because you’re at escape velocity so that’s not relevant in this discussion

overall if there’s a place to do it it’s farcaster, the ICM/AI meta on solana is an additional data point here