An open letter to investors

This is the actual letter to keep VCs that contacted me so far up to date.

Dear [%investor_name%]!

I’m thinking how to make venture capital aligned with the web3 style organization. I came up with a draft and for further thinking/building I need to verify with you a couple of assumptions.

TL;DR

If you agree/disagree with the assumptions in bold chose an action item in the end.

Assumption: The way a project is made matters a lot in web3

Assumption: Intrinsically motivated team is better than highly payed stars

There is a choice: go fast from day one with money and strong devs VS go slower and build motivated AND strong team along the way. I believe the second option is better. Though certainly harder, in the long run it would be faster.

Or is there an even better way?

The plan is to start paying devs with tokens (1 token = $1). Mint them on the go. No real value until launch. After launch convert them into ownership. Hope to catch intrinsically motivated people this way.

Assumption: Multiple investors is a must

I think having investors in a decentralized project is good. Business professionals with large participation will help to make better decisions. But we need a number of them. Not just in rounds, but simultaneously.

Is it okay to have multiple investors from the start?

That would mean splitting the investment. You probably have a minimum threshold sum. Would it be a problem?

Assumption: Investor is a part of the community

Open discussion with investors brings a lot of value. It shows how the project is made, adds trust. Even the fact of having an investor in the community adds a lot of value. Join Upala’s discord!

Can I tell your name to other possible investors?

Action items

Join Upala’s first community call this Wednesday (March 24) 05:00 PM CET.

Check out Macine DAO draft — an organizational structure for Upala and its evolution

Join patrons channel in Upala’s discord

Answer the questions in the text (in italic)

If you think that I’m can do something better/faster/stronger or my assumptions are wrong please let me know.