When I participate in a Series A deal with VCs, entrepreneur-friendly terms go out the window. VCs remain attached to age-old traditional industry terms. 'Ratchet,' 'carry,' 'vetoes' - you name it.

Startups are all about breaking the rules and changing the 'natural order' of things. So let's do that for Series A terms.

While seed deals have gotten easy, Series A negotiations still often feel like the death of 1,000 cuts.

Crypto today is a libertarian paradise. If you send your money to the wrong place, it's gone. If you send it to a merchant and don't receive the goods, you have no recourse. This is cash. Treat it as such.

I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory.

Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem.