born too soon to explore the stars, born just in time to trade tokenized stocks with flying cars

Tokenized equity supercycle.

I can tell if you’re in crypto based on how you act at the airport

Tokenization is a bigger opportunity than all prior bull markets combined

It feels like we’re bottoming on the era where the world perceives crypto as a joke/scam, and entering the era where the world starts taking crypto seriously again.

The future of finance is tokenized

i paid $5.5k for this NFT in 2022 it's currently worth 18$

💸 You think this is crazy low but ~5% ownership probably the most common final % most VC funded startups will have when they work out, especially when you have a co-founder Raising money is not free, people don't give you money out of charity, they buy a little slice of your company every time they invest, so in every funding round you sell a share of your company's ownership for money, that money you use then to grow more, in the hope that your part becomes more than the ownership you just gave away Median ownership for single founders (via @cartainc): Seed: ~56% Series A: ~36% Series B: ~23.5% Series C: ~16.5% Series D: ~10% Series E: <10% Now if you have one co-founder (most startups!): Seed: ~28% Series A: ~18% Series B: ~11.75% Series C: ~8.25% Series D: ~5% Series E: <5% What if you're one of 4 co-founders: Seed: ~14% Series A: ~9% Series B: ~5.875% Series C: ~4.125% Series D: ~2.5% Series E: <2.5% Now imagine you get acquired after one of these funding rounds for $1,000,000,000 ($1 billion is a lot!), how much are you left with? Money made with $1B sale for single founders: Seed: ~$560 million Series A: ~$360 million Series B: ~$235 million Series C: ~$165 million Series D: ~$100 million Series E: <$100 million Now if you have one co-founder (most startups!): Seed: ~$280 million Series A: ~$180 million Series B: ~$117.5 million Series C: ~$82.5 million Series D: ~$50 million Series E: <$50 million What if you're one of 4 co-founders: Seed: ~$140 million Series A: ~$90 million Series B: ~$59 million Series C: ~$41 million Series D: ~$25 million Series E: <$25 million But let's be more realistic, the median acquisition value for a VC-backed startup sits at approximately $71 million: For single founders: Seed: ~$39.8 million Series A: ~$25.6 million Series B: ~$16.7 million Series C: ~$11.7 million Series D: ~$7.1 million Series E: <$7.1 million Now if you have one co-founder (most startups): Seed: ~$19.9 million Series A: ~$12.8 million Series B: ~$8.3 million Series C: ~$5.9 million Series D: ~$3.55 million Series E: <$3.55 million What if you're one of 4 co-founders: Seed: ~$9.95 million Series A: ~$6.4 million Series B: ~$4.2 million Series C: ~$2.9 million Series D: ~$1.8 million Series E: <$1.8 million Okay last one (this post is getting too long 😊), we know 1) the median time of acquisition is around Series A (quite early actually), and 2) we know the median acquisition value is $71M, so now we can tell you the median expected outcome for a startup that gets acquired: Single founders: ~$25.6 million One co-founder: ~$12.8 million One of 4 co-founders: ~$6.4 million Getting acquired itself is a remarkable event though as most startups are by definition doomed to fail, only ~15% of startups ever get acquired, so the expected outcome with probability included is: Single founder: ~$3.84 million One of two co-founders: ~$1.92 million One of four co-founders: ~$960,000 P.S. we did not include taxes and liquidation preferences, the investors may receive their preference before common shareholders receive anything, meaning founders receive even less, but we also didn't include taking money off the table in earlier rounds by founders to be fair, so they balance each other out a bit Not saying this is bad btw, it's just how the VC game works but good to write it out and be aware of how it works VC-backed startups shoot for the moon, it's one of the few ways you can have a crazy big payout and become an actual billionaire which is very rare as a bootstrapped founder with your own money!

I think what is pretty clear is that the Chinese labs are far more capital efficient. In a world where scaling labs are intelligence is proportional to effective capital (buys compute, data, & talent) that may be the greatest strength your AI industry could ever have.

We're rolling out a small tweak to boost visibility of your posts to your mutuals (people who you follow back). We noticed this data was missing from the algo and it made your friends appear less in your replies. This resulted in the reply section feeling more like a battleground with people you don't recognize. This should also help clusters form around interests more easily, which many people have asked for.