0 sats \ 5 replies \ @k00b 15 Nov 2021 \ on: I'm Jimmy Song. AMA bitcoin
You've been podcasting and writing about VC quite a bit lately which I've been appreciating greatly. Did anything prompt that?
(I might also just be suffering from the frequency illusion given that I'm trying to raise money for SN.)
I'm a startup guy, just like you, so I've been around the block a few times when it comes to VCs. I'm now fully convinced they've taken the function that banks used to have, just with a more money-printing, fiat-centered model.
I wasn't always this down on VCs, but the more I examine the current monetary system, the more it's clear they are the essential gatekeepers. Very few players make it without VC money.
Anyway, I know you didn't ask, but if you can, keep the equity yourself, do what gets you profit and don't rely on VC money. They'll make you grow too fast and work too hard. You really don't want to be enslaved to them if don't have to be.
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Thanks Jimmy. I really respect your POV.
I'm hoping to find the right VC's assuming I can identify them. I'm also considering open source grants or some kind of community seed raise where users get real equity or a bitcoin denominated dividend (KYC-free).
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Honestly, if you can find something people will pay for, you can skip the VCs. Maybe it's a recurring lightning-based patreon or turning this into a question/answer service. Whatever the case, I think your time is better spent making cool stuff people will use instead of decks that will get 15 minutes of viewing time.
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Along those lines, many Bit Devs ago when Sphinx Chat was first announced, you mentioned you were waiting for some kind of Q&A system. Can you provide detail on that? It's something I have planned but I imagine you have something specific in mind.
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I don't remember, but I can see questions being answered for money being useful. As in, you pay and then you get to see the answer, that sort of thing. There are Lightning bots on Telegram that already do this sort of thing.
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