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This is why, when pitching, it is often better to have zero revenue than subpar revenue

I also am excited about the use of on-chain software systems by issuers and intermediaries to eliminate economic frictions, increase capital efficiency, enable new types of financial products, and enhance liquidity.

Apple has officially run out of ideas

THE ONE BIG BEAUTIFUL (CRYPTO TAX) BILL Last night, I reviewed not-yet-public crypto legislation slated for inclusion in the Trump megabill. The legislation is promising, but requires clarifications in some respects. Here’s a summary thread that includes my observations (1/24).

A good product idea != a good business idea

Can you imagine Steve jobs signing off on this? Or Jony Ive?

One of the all-time worst market maker deal structures is back from the dead The same old characters are back in the MM game, and they're pushing the same old deals on founders who weren't around the first time Don't want to get swindled? Read on 👇

I love working with aerospace / hard-tech teams, especially pre-seed

This is why I find it ridiculous when some VCs unilaterally write off YC companies as being "too expensive" You're missing out on generational companies

US Treasury Secretary Bessent: Stablecoins could lock in dollar dominance.

I run a fund & angel invest, and agree with a lot of the points in this thread. My angel investments have done way better than my fund investments.

Privy acq is exciting because it shows that building real companies is still possible not just token grifts

This 5000x return has to go down in the history books $3M -> $15B

Privy acq. by Stripe and Linear becoming a unicorn shows that there is a premium on Craft.

Biggest winner of the summer is Accel, which invested in: – Circle 2013 Series A (~500x return) – Scale AI 2017 Series A (~1000x return) Each probably returned at least 2-3x their respective funds

Everyone needs to start somewhere. Shitting on a founder for getting some sort of traction is lame. Bitch ass mentality right here