this is the whole thesis attention and capital will inevitably only concentrate around good coins bad will just end up into irrelevancy and no amount of marketing spend will save them
Tulip King says VCs will get called out by their LPs if they don’t buy good, revenue-generating coins “They’ll say, ‘You invested in Aave, but it made no money,’ or, ‘The team kept all the money for itself and threw parties at Token2049. You invested in a team that was just enriching itself.’” “They’ll ask, ‘What about this $PONS thing? It ran up to $100 million and bought back 30% of the supply.’ I’m excited for these projects to either suffer until they fix their behavior and start accruing value, or suffer enough that the capital reroutes into good projects.” “If the bad coins go down, the good coins can go so high because they’re so under-owned. I’m making up numbers, but I bet three-fourths of the institutional and professional capital in crypto is completely offside. They’re exposed to the wrong class of vomitous crap”
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