My best advice for founders struggling to raise from VCs right now is to raise from angels. They are price insensitive. They got wealthy (again) after 15mo of bull market. U can raise a decent preseed with just angels now.
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really don’t understand why preseed investors make founders go through 10 hours of due diligence. they end up falling prey to analysis paralysis while wasting founders’ time. an hour max is enough to tell if a founder is the real deal
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Top casts
Every successful consumer product in crypto I’ve observed closely grew in a staircase fashion. They chew glass with no or little growth over an extended period of time - 6 to 24 months - then reaches escape velocity and explodes - then does the cycle again
Farcaster is the latest example of this
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Founders are worried about losing to competitors who raised more money. In actuality I’ve only seen counter-examples:
Tensor beat magic Eden with 2 orders of mag less $.
Solana beat other L1s with 2 order of mag less.
Jupiter raised 0, all VCs passed.
Less money = more sense of urgency more chip on the shoulder.
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I used to tell our founders that in general the 2 best avenues to get your first 100 users for crypto products are
- friends and family
- ct
Farcaster has always been on my radar, but triangulating various anecdotes and data points, I can now confidently add farcaster to the trifecta of best gtm avenues.
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I spent hours this weekend trying various frames ppl built
The ones where I “felt the magic” were the financial ones, eg, minting nft, claiming airdrop, paying someone.
They r mostly toys now, but I think we’ll see some “real” apps wrapped in frames soon
