zlacker

>>donsup+(OP)
The last few weeks (months, really) has highlighted an incredible lack of discernment in the VC-verse wrt the thing we call web3. Now. I have no experience doing what YC does and don’t claim to, but the jig here was so transparent that the smallest drop of “street smart” should’ve been enough to set off some alarms.

We’re approaching a point where being passed over for “culture fit” is a compliment. Hopefully the embarrassment is enough to expand the founder vetting checkboxes.

>>okwubo+x7
Or, they knew all that but thought they would probably personally benefit anyway?

You can get rich in a gold rush selling shovels. And it doesnt really matter if there's no gold, or not enough for all the miners to make a living. And why would a shovel salesman focus on the negative like that?

>>ZeroGr+AB
Frankly the shovel salesmen were relatively small time, since some miners brought their own, some quit and sold theirs (whether bought or brought), and some shovels were, um, just found lying around, "Goodness, whatever could have happened to that poor miner?"

The real money was in services (brothels, gambling, baths) and consumables (food, booze).