A founder just informed me that they ran out of runway and have to wind down their business. Paying himself $212k a year, in a bear market, with a pre revenue startup. And somehow it’s “the market’s fault.” Can’t make this shit up. — Simon Dedic (@sjdedic) on X People often ask what makes Silicon Valley culture so special and hard to replicate. It’s not the talent or the capital....
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@SemiAnalysis_ recently found something bizarre in the economics of AI coding subscriptions. If you run them at max usage limits, you’re actually paying 20x-70x cheaper than you would buying tokens through the API. Many people looked at this and said: oh my god, look how much the labs are subsidizing tokens, the bubble must be about to pop soon. This is the wrong response. The reason why labs are willing...
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I have this bad habit that whenever I accomplish something, I’m compelled to write about how I did it. We just launched Dragonfly Fund IV, a $650M crypto VC fund (at a time that half of the media seem to believe that crypto is dead–again). We have ~$4B under management, we have about 45 people across NYC, SF, and Singapore, and we’re now one of the largest VC platforms in...
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We’re a crypto fund. If anyone should believe in crypto, it’s us. And yet, when we sign a deal to invest into a startup, we don’t sign a smart contract. We sign a legal contract. The startup does the same. Neither of us are comfortable doing the deal without a legal agreement. Why? We have lawyers. They have lawyers. We have engineers who can write and audit smart contracts, and...
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