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VCs are unfortunately, on the whole, all too discerning when it comes to Web3. It's a meme now in the community that when a VC and tokens are involved, there's
by JofArnold 4y ago
VCs are unfortunately, on the whole, all too discerning when it comes to Web3. It's a meme now in the community that when a VC and tokens are involved, there's a good chance they are getting preferential treatment and using the end users as their exit liquidity. That's not necessarily the case here but "greed" has become a general theme and the motivations behind otherwise-puzzling investments become clear when viewed through that lens.
- rchaud 4y agoWithout wanting to defend the VCs, this is the same deal they would strike by buying equity in a company. It's in their interest to take a stake at lowball prices so they can 100x or whatever when it's time to IPO.
- redisman 4y agoThis scheme is certainly faster than an IPO which usually takes 10+ years
- cycrutchfield 4y agoThank goodness the SEC is protecting people and their money… by sitting on their hands and doing jack shit.
- JumpCrisscross 4y ago> the SEC is protecting people and their money… by sitting on their hands and doing jack shit It’s unclear if they have jurisdiction. The likes of Coinbase’s Armstrong have certainly been lobbying hard to constrain it. In any case, it’s hard to be sympathetic when escaping regulation is the rallying cry of so many crypto enthusiasts.
- rchaud 4y agoWhat legal jurisidiction do they have to intervene?