There’s something off about ApeCoin
by Casey Newton from The Verge - All Posts on (#5XDWE)
Image: ApeCoin DAO Today, let's talk about an evolution in the way that startups are being funded, and what it means for the companies working to replace the current internet with blockchain technologies.
For a long while now, the basic deal in venture capital has been simple. Investors give founders money in exchange for equity in a company; they recoup that investment when the company is sold or goes public. (Or, if the company dies, not at all.)
A downside of this arrangement is that companies can take a very long time to arrive at these exits. Most VC funds assume it will take 7 to 10 years to know how well their bets are paying off, and in the meantime they face risk and uncertainty.
The arrival of blockchains over the past decade created a new option...