Dan Tapiero on why he doesn’t invest in any tokens
We’re not really in meme coins. We don’t invest in any tokens at all, just because I think the value accrual mechanism is not clear yet. Anybody can wake up, who has a token one day and just say, hey, OK, now we’re gonna have equity. Or the equity can say, oh, you know what, we think having a token is a better idea. Clarity in the US, and whether it gets done piecemeal, as it seems to be the case now, or whether it’s being done in one bill, is going to be very important. It’s just because you just don’t know. So we don’t take that kind of existential risk. We leave that for the venture capitalists, who are likely going to outperform us. We take less risk, but we’re still shooting to make a 4-5x return over the ten-year life of our funds. But we’re just not in it to make a 100x.
#Crypto #Investing #Tokens #Markets #VC
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