Tell us how you really feel 😂


haha, ten31 is yours, innit?

also, anyone knows that VC mostly loses money


:pepeclown:


He's complaining or praising? 🤷♂


Onward 🫡


if only you knew how bad things really are


another feather ser


What was the actual point of this message though. Genuine question. I may never understand the VC system.


What is going on? Is there a run on Swan? They insolvent?


https://www.investopedia.com/terms/b/burnrate.asp

i hear this expression "vc burn" from my boss, who is a former gartner associate analyst, a lot, and the whole business of the company he runs is about trying to find VCs to build a decentralized social network for work collaboration


They had mass layoffs today, probably killing their managed mining operations soon, and canceled their IPO plans


Odell is smoking that swan pack rn


Vocabulary I guess. But specifically, why post that?


Odell is managing partner in ten31, a bitcoin first VC firm, and proud to show off that his choice to invest (other people’s money) in Swan might actually start paying off for the investors. Rare.


because VC companies basically take money from investors and burn it trying to find a zinger that makes them a profit, and usually they all loose, it's like some kind of weird betting game


Not that we see, but they are laying off at LEAST 6-7 employees so far. Both public facing and non public facing employees


Mass layoffs? Do you have numbers?


Nah they didn’t mention numbers


AHHHH

I completely misunderstood the tweet! I know of Matt, and his operations/positions, but unsure of the relationship with Swan other than chatter here and there.


Yeah thanks, I misunderstood the original image.


LOL


Onward 🫡


How ‘bout them 🍎s?


Loll


Play fiat games. Win fiat prizes.


73 allegedly


Halving of bitcoin podcasts is upon us


Like milk
https://i.nostr.build/MZ6we8vV9oY2YKfM.gif


vc rug


Nah, this is Odell pointing out Corey's hubris. In His previous, Corey, is saying that, like ten31 (O'Dell's vc fund) they used to lose money, but now they've grown smarter and will make loads of money. Today's announcement, Swan pulling out of mining and laying off loads of good bitcoiners, suggests Odell was right to be skeptical of Corey's claims.


HE DIDNT STAY HUMBLE


A company can be profitable and also be spending too much.


Hey brother unfortunately I don't have working nostr DM's at the moment. Hopefully soon. Although I keep saying that.


The What Bitcoin Did curse continues 🤣


Community Adjusted EBITDA


Layoffs and closing their mining


The power of WE


not sure why people sh*t on Swan. is it a dev thing.


⚡ LIVE FREE ⚡