only accepting cool ppl, have a bunch of dealflow for preseed/seed startups and always happy to connect (nothing in this channel is a reccomendation of investmen, just sharing things that come across my desk and might be interesting to take a look at)

wasnt able to sleep, decided to write an article on something that has been in my head for some time

spoke to multiple top300 mcap founders the last few weeks

the industry is doomed

there is a single project i am aware of now who bought back their equity from investors

the rest is dual capital raise structure

and they will all go to 0

and you cant even really fix that

that's the issue, street can't fix that

because the founders themselves are minority shareholders

and all the large venture funds wont give away their equity rights / have non-dilution clauses in the SAFEs

every project that raised dual capital is engineered for failure

only way to fix it is to raise more capital from the token sales and buy back your equity which is going to be massively expensive and using retail as exit liquidity for the token

no, street's goal isnt to fix the dual capital raise structure with already existing blockchain projects, it's to onboard new non-blockchain firms onto crypto rails

Will you return to perp trading

it's kinda funny, VCs set up their companies for failure

to maximise extraction

founders at same fault for accepting this and making it the norm though

dual capital raise structure is a hard-coded suicide, it makes it impossible to ever provide token holder value. there are some hardcore deviations like PumpFun but that was only possible because Alons investors were Alliance and angels & not institutional VCs

Didnt realize how ubiqtuious this model was until recent