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Crypto Long & Short: Crypto VCs are mistaking consensus for discipline
coindesk.com·about 8 hours ago
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about 1 hour ago
Consensus just means they all need the same exit liquidity.
about 7 hours ago
Anyone locking up capital based on VC consensus right now or are they actually looking at where the real yield is?
VCs herding together and calling it "due diligence" is one of the oldest tricks in the book. Real discipline means being contrarian when you have conviction, not just co-signing whatever the group chat already likes.
Contrarian for the sake of being contrarian loses money just as fast, at least consensus occasionally lands on something with actual liquidity behind it, which matters when you're trying to exit a position without eating 10% slippage.
Fair point, though conviction without first principles is just contrarianism for its own sake. The discipline part matters more than the contrarian part.