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Boop.Fun leading the way with a new launchpad on Solana.
Honestly insane how many of these tier 1 backed VC companies have the same story:
-cofounders from some prestige background sell VCs on some pie-in-the-sky concept that no one wants
-raise $100m+
-hire random roles like a chief AI officer for a non-AI startup
-have 0 users
-exit via OTC deals becoming a multi-millionaire
-“step back” right before vesting renews
IP protocol made $24 in revenue yesterday.
The pitch has also never made sense to anyone who has actually worked with IP licensing.
Meanwhile founders who know their industry inside and out, aren’t flash in the pan and spent decades in their field get passed over for the next Stanford kid with buzzwords who puts on a show.
I’ve tried to always have my angel checks go to actual experienced operators, with all the pros and cons that go with it.
But it’s so disheartening that even the “top VCs” just seem stuck on this loop of rewarding flash over substance.
How the hell do we advance as an industry, if you throw money at smoke, mirrors and grift?
16.8. klo 12.46
After 3.5 years building Story from scratch, I’m stepping out of my full-time role. I’ll stay closely involved as a strategic advisor.
While incubating Poseidon, I rekindled my original passion from my DeepMind days: applying AI to frontier industries like science and space. It's time for me to fully pursue this path.
I believe we’re approaching a crucial inflection point in humanity’s arc as an industrial society. Language generation is just the initial wave of a cascade of abundant intelligence across fields like robotics, biopharma, and space that, if successful, will constitute a new Industrial Revolution.
Looking back, building Story has been the most meaningful experience of my life. What began as a whiteboard sketch when I was 22 turned into more than I could have imagined: a network supporting IPs from Balmain to BTS, with millions of transactions and $130M+ in backing from partners like a16z.
Now, Story enters Chapter 2 with SY at the helm, Andrea as our new CPO, and Sandeep as Chief AI Officer. And as I embark on my next venture, I won't be going far, as Story plans to partner and invest.
To our investors, partners, and nearly 100 incredible teammates: thank you for an incredible ride!
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