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1/ An accidental change in fund structure doesn’t mean the mindset changed.
2/ To be clear, it's a good thing for #crypto that more people are structuring as VCs than HFs, as the incentives are better geared for long term value creation.
Hence this prediction last year 👇
Hence this prediction last year 👇
3/ But I don’t see how an investor that profits from going long & short (many HFs) can later claim to sincerely support a #cryptonetwork over many years, as a VC should.
4/ There are "long-only HFs," with prolonged lockups, and those are better designed (in structure and ethos) to be a partner to a young #crypto network.
Whether investor, or founder seeking investment, choose the structures you wed yourself to with intent.
Whether investor, or founder seeking investment, choose the structures you wed yourself to with intent.
