Using Galaxy as a counter example for dumb money is one of the wildest things I’ve seen in crypto, and eth pumped 20% this week.
In Vienna, I briefly spoke about our decision at Sonic Labs to refund a VC’s 7 figure check because of their failure to contribute meaningful value (or at least attempt to) to our Sonic Ecosystem.
Yes, VCs can help propel your project, but make sure to draw the line when it comes to blatant abuse and disregard for your team’s fundamentals.
There is a lot of $ to go around in this industry. Daily, we see 7,8,9 figure venture rounds for products that have zero demand. Why? Because they fit the narrative of the month and increase exit upside from VCs.
We dare to be different and push the boundaries within reason without selling our soul for checks. Glad to have partnered with @galaxyhq for the latest fundraise, as they have provided more than any VC I have experienced thus far. Thank you for being real.
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