Ego Death Capital: Jeff Booth, Preston Pysh, et al launch a Bitcoin-only fund \ stacker news ~bitcoin

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Ego Death Capital: Jeff Booth, Preston Pysh, et al launch a Bitcoin-only fund egodeath.capital/blog/letter-from-jeff

42 sats \ 13 comments \ @k00b 14 Apr 2022 bitcoin

10 sats \ 7 replies \ @k00b OP 14 Apr 2022

Based on the sound of it - the positioning and immodest-ish-ness - I'd say they were in the middle of raising the fund. It's beginning to feel crowded with money up in here. Hopefully it encourages more builders.

10 sats \ 5 replies \ @kc_hodl 15 Apr 2022

Agreed. Getting crowded on the allocator front for sure. Every startup I’m involved w needs devs, not more capital.

10 sats \ 3 replies \ @k00b OP 15 Apr 2022

It's nice that founders get more choice on who to work with though. Most of the investors I've met in the space are great, but choice is always nice.

I'm not sure what the answer is to the dev problem in the space generally. Some attribute it to lack of high paying positions relative to web3, which might be helped by more allocators entering. But devs have always been the main source of scarcity in software overall.

We also have this issue in tech right now where there's so much liquidity relative to talent that most devs don't have to work hard to get paid well. I have big tech co friends making 400k+/year working 2-3 hours/day. Even if startups could pay competitively, there are plenty of people who'd rather not do the work.

10 sats \ 1 reply \ @kc_hodl 15 Apr 2022

Easy money eras breed complacency and laziness. Bitcoin will fix this, in time. Totally agree that it takes a special kind of person and a deep level of commitment to live the startup life. Certainly not for everyone.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 3 replies \ @cryptocoin 15 Apr 2022

With the almost free and instantaneous transactions offered by the Lightning Network, not only can Bitcoin be used for everyday transactions by every person in the world, but the Bitcoin network is now open to a range of use cases, which we can only begin to imagine. As more entrepreneurs realize that building on top of a base layer that is immutable is the ONLY way to create a long term business, I suspect they will focus their time and efforts in building amazing use cases on top of Bitcoin. This becomes the focus of the fund. An asymmetric opportunity that is not widely understood today and it is this ecosystem building creative and innovative solutions to real world problems, that ego death capital will invest in.

0 sats \ 1 reply \ @cryptocoin 15 Apr 2022

We are a transformative bitcoin ecosystem venture fund investing in bitcoin layer 3 projects. Our ambition is not to own the bitcoin ecosystem but to support its creation and as a result, invest in solutions that will change the world.