822 sats \ 2 replies \ @MoritzK 21 Dec 2022 \ on: Fulgur Ventures AMA bitcoin
Are there different metrics that founders need to show to investors when raising money starting with a pre-seed round to a series A round? And are these metrics different for bitcoin focused VCs?
Metrics can vary based on individual investor lenses but in general user engagement, monetisation and evidence of opportunity to scale may be a few metrics that highlight how sustainable is the enterprise and how much value it delivers and as well captures
It is a bit more difficult with bitcoin as there is a monetary system and internal economics that impact how value is produced, accumulated and distributed.
And there are also metrics that are simply a derivative of the scale of adoption.
And there may be new metrics fundamental to how bitcoin economy works (especially metrics related to the lightning network, but also onchain and mining)
But in theory a startup should be able to produce metrics that resonate with both bitcoin and non-bitcoin VCs
Metrics are a means to making business decisions so they should be relevant for the dimension about which decision is being made
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Metrics for earlier rounds can be less formal and about the team performance in general, speed of learning and execution. Metrics for later rounds can be more about scaling and value
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