Chainlink did their presale at $90 million FDV. Their ICO at $110 million. People who bought, believed and held made enough to be a Link Marine until they died.
Now, companies raise at multiples of this and give a morsel of value to a mercenary community in the form of an airdrop that will get dumped.
More narrow distributions to those people who understand your value prop and giving them the ability to build a more meaningful position is a winning recipe, and I’m not sure why we’ve deviated so far from it.
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