I’ve been talking with a lot of founders about tokens and my takeaway is that we learned the wrong lessons over the past decade and need to re-learn a lot: > minting new tokens is not a bad thing when done right. having a startup with a fixed token supply is retarded > if you’re a startup that’s growing, doing buybacks is retarded. reinvesting the money you make is better > launching a token early solves a surprisingly large number of problems. a lot of the bad rep associated with tokens is downstream of launching a token too late > not every business will benefit from having a token but the few that do shouldn’t use it as a ‘growth tactic’ but as a ‘find PMF faster’ tactic > giving tokens away for free (airdrops) is giving people ownership without skin in the game. this creates the wrong incentive and is retarded