by billdecker | May 19, 2026 | Market Notes
Regulatory clarity used to be treated as a cost of doing business — a compliance checkbox, at best a defensive move. That framing is out of date. In the deals we’re seeing now, clarity is showing up as a genuine competitive advantage, and the projects that got...
by billdecker | May 15, 2026 | Token Economy
Airdrops were supposed to build communities. Mostly, they’ve built mercenaries — wallets that farm, claim, and sell within the hour, leaving the project with a lower price and no more real users than it started with. Distribution can do better than this. Why the...
by billdecker | May 12, 2026 | Venture Playbooks
Your best investor from the last round is often the one most likely to sit out the next one — and it’s rarely about you. Here’s the mechanic behind the “follow-on trap” and how to read it correctly. It’s fund math, not a verdict on your...
by billdecker | May 8, 2026 | Investor Education
Before you wire money into any early-stage deal — equity or token — run it through these fifteen questions. Most diligence failures aren’t from asking the wrong questions; they’re from not asking any of them out loud, because it felt awkward to interrupt...
by billdecker | May 5, 2026 | Founder Stories
A founder we worked with closed a down round eight months ago — a valuation cut that felt, at signing, like a loss. It turned out to be the best negotiating position the company has had since its Series A. Here’s how a down round became leverage instead of a...
