Surviving crypto cycles
AI summary of the linked articleFred Ehrsam, co-founder of Coinbase, writes in a private note to portfolio companies that crypto cycles are natural and that founders should build resilience during euphoric times. He says crypto has exited every past cycle stronger than it entered, citing metrics such as developer activity and corporate adoption. He recommends keeping the core mission, stress-testing for 10-100x usage spikes, and raising cash before a downturn, noting Coinbase fundraised before the 2017 winter and put half of one raise in a separate account. |
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2 comments  This was a great read, thanks for sharing! It also reminded me of an article I wrote at the time of the last bull market‘s height which might serve you as a time capsule of the sentiment back then in comparison to, for example, today macbudkowski.ethSubmitter "The bull market has lasted so long that certain bullshit qualities and behavior now managed to persist into the sphere's "culture" without market participants being aware." That's so true. I remember that bull run feeling like it was never going to end. And the longer it lasted, the more weird ideas — like Multicap buying 8 figures of Loot spread without too much criticism. BTW has the HackerNews sentiment towards crypto changed in the last bull? |