The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why VC is a Ponzi Scheme Today | Why Most VCs are Bankers | Why Big VCs Ruin Startups | Why Incentives in VC are Broken | Why American Dynamism is a Tool for VCs to Raise Money with Nick Chirls, Asylum Ventures
Nick Chirls
Tezos proved that proof of stake compared to proof of work was a much more efficient way to run blockchains. And within 18 months, there were 40 or 50 blockchains that either had changed or had launched with a proof of stake consensus algorithm rather than proof of work. So you're investing in a company where no one cares. The market is tiny. How big was the round that you did?
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