Patrick McKenzie+ Your Authors @patio11 I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own. Sep. 06, 2020 1 min read + Your Authors

Cryptocurrency is wild, exhibit #893528:

 https://www.theblockcrypto.com/linked/77090/sushiswap-founder-converts-portion-of-developer-fund-to-6m-in-eth 

I feel like I both want to describe what this actually means, why people are mad about this, why it doesn't happen in the grown-up economy, and similar, but I already regret the number of brain cells spent learning this topic and don't want to infect non-carriers among you.

Something like "I raised a ~$10M seed round at a valuation of $200M with some representations about what the plans were then did an unplanned ~$13M secondary with treasury stock to my own pocket then sold the company for $1 to an unaffiliated (?) party because YOLO idiots."

Literal quote:

"Maybe you don't think I deserved that [money]. I think my contributions justified that. I wrote the migration code. I did all the audits. I coordinated the largest [liquidity] pools ever. I created a large community... All in 1 week."

Predictably, there is a code-is-law, if you didn't expect me to do this then I guess you should look closer at the source code next time because it was not physically impossible to do vibe from the founder here.


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