THIS IS ABSOLUTELY INSANE.
If you had invested $14,000 in SanDisk $SNDK last year, you would have over $1 MILLION today.
SNDK is now up 7,500% in the last 14 months.
Crypto VC Funds: How LPs Get Rekt
My $100K, vaporized into $56K within 4 years (3% mgmt + 30% carry) by this Early-Stage Token Fund
During those 4 years, BTC 2x’d and numerous seed deals did 20-75x. Yet this fund charged fees to erase half of LP capital. [Vintage matters, sure, but vaporizing 50% in any cycle is elite-level underperformance.]
Takeaway: Most early-stage crypto funds grew too big for the tiny pond of real winners. LPs deserve better oppties to deploy at scale (emphasis on "at scale"), and early-stage crypto just isn't it.
Synergy, the sum of two separate groups or individuals to produce a greater effect rather than the sum of their separate effects. Moral of the definition is that life cannot exist without coexistence.
2022 has been a constant reminder that life is too short and can end in the blink of an eye. Hold your loved ones tight and appreciate every moment. Be good to people before you're gone.