Thread by @acecreamu

For the last 3 weeks, I didn't have any days off and usually got back home around midnight. The reason – a new #startup. It's tough, but it's fulfilling.

What is it like starting a fundraise when the market crashes and what mistakes I've made – read in a thread:

Being YC-alum with industry insights and a team behind me, I hugely underestimated how difficult it will be. It seems that everyone around raises money easily, others may tell you how easy it will be, but, in reality, it's never easy, man.

I had too much confidence in my connections and their power. What each friend can make, 3 intros? Should be enough to close a small round! In reality, it's 0.2, and more ghosting than intros.

(Appreciate all those who really tried to help 🙌 I value it more than ever)

Whatever your perceived chance that something will work out with funding – in this market divide it by 10, it most likely won't. You can only rely on yourself, and only time is on your side.

With the new idea being in #ecommerce and #web3, I tried to capture the benefits of both and find an optimal point in between. In reality – there is no in-between and you end up with a story that doesn't fit either group.

The valuation gap between classical and crypto VCs is so large that it makes no sense to try to bridge them. You should know whom you target and speak the language they understand.

There is a clear decline in VC activity today, especially in web3, but there always will be money for great projects.

That being said, the market decline may as well decline your self-esteem. It's tough to keep conviction in a no-positive-feedback world. But when you don't have any way back, the only way is forward. So, since there are no options, my new favorite skill is silencing doubts.

A highlight of this week: a new pack of cigarettes. Hopefully, in the next weeks, all the effort and endless writing will start paying back. Will keep you posted. WAGMI

P.S. Yessss, the new project is in web3 space, so crypto-founders, crypto-investors, and those who buy jpeg's because they like art – hit me up, I'm open to exchanging ideas and hearing your stories.
Okay, maybe not the last ones.