I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.
Naval RavikantRead
If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.
Interpretation
What this quote means
The quote highlights the dynamics of fundraising where startups trade equity for investment capital.
In this quote, Naval Ravikant explains the transaction between startups and venture firms, illustrating that entrepreneurs are essentially purchasing capital in exchange for ownership stakes in their companies. He emphasizes that venture firms must find ways to stand out in a competitive market, as their main product—investment funds—needs to appeal to potential investors who are seeking value beyond financial support.
Themes
Venture CapitalEquityInvestmentStartupsCapital
In practice
Example use cases
During a startup pitch, this quote can be used to explain the relationship between entrepreneurs and investors.
More from Naval Ravikant
All quotes →Having a million-dollar net worth doesn't make you a genius, and having less than a million-dollar net worth doesn't make you a fool.
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Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.
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Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.
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Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.
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It's almost always possible to be honest and positive.
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