
Laura Inamedinova, Chief Ecosystem Officer at Gate.io and principal at Gate Ventures, shares unfiltered insights into what crypto investors are really looking for, why most founders get it wrong, and how she became one of the most influential voices in Web3. From ICOs to personal brand burnout, this is a masterclass in modern venture capital.
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Laura Medinova
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Zoe Saldana
Welcome back to Founders Story. Today we have Laura Ina Medinova, an award winning serial entrepreneur investor keynote speaker, just got the Forbes 30 under 30 which is huge and currently serving as the Chief Ecosystem Officer at Gate IO and Principal of Gate Ventures. And Laura, I'm really excited to dive into all things about investing in companies right now because I'm curious as to what does an investor look at? How do they see see this and your whole story with how you got to where you are today because I'm sure it's going to be super inspirational. So let's just kick it off with what was the spark in your life that made you say, this is the industry I want to be in.
Laura Medinova
So first of all, happy to be here. Thank you, Daniel, for inviting me. How did I went into crypto, actually? I mean, I'm in crypto for almost 10 years and I got here by accident. So back in my day in college, I was studying physics and all my classmates were geeks looking for, you know, interesting things, and they stumble upon bitcoin, the magic Internet money. And I remember I was in one of the last years of College, I was 2016, and they were telling me how there's going to be new currency on the Internet that's not going to be tied to any government or central bank. And it was very interesting for me. I was very curious about it. Unfortunately, I was a broke college student and I couldn't tell my parents, yeah, sell the house, get a second mortgage, let's go all in bitcoin.
Daniel
And.
Laura Medinova
But I purchased a little bit and that was kind of the first step. And then after I graduated, I worked a lot with tech companies and startups, helping them go to market. And so it happened that I was approached by a few founders who were founding a business in crypto that was one of the first ICOs back in 2016. I remember they come, they came to me and they were like, hey, Laura, we're going to have three WS website, white paper and a wallet. And trust me, we going to make it. We going to phrase. Do you want to be part of it? It sounded crazy. I was like, who are these people? Why they're building this weird structure of ico? Like, it was absolutely not what I was used to, working in startups, understanding, you know, how to do fundraising, go to venture capital and so on. And, you know, something clicked in my brain. I was like, I just graduated, I have nothing to lose. I might as well guys help you out. Because it was interesting and I already had some exposure into crypto. And so it happened. That worries seven figures in a week. And that was the point. I was like, that's it, I'm going all in. And I was 21 back of the day. And I realized if I'm going to go into Trad 5, I'm going to be working in tech. I will always have to compete with people who will be 10, 20, 30 years older than me, and they would have that advantage. Whereas a crypto was such a young industry back in the day, was just emerging. If I go together with the industry in couple of years, I could be already considered og, basically. So this is how I Enter. It was completely by accident, but me being a little bit adventurous back in the day kind of helped me to get exposed to it and now have almost 10 years experience.
Zoe Saldana
I think a lot of people might look at an industry and if an industry is maybe less mature, they might be concerned about going into it. What advice or suggestion do you have looking back to when what was, you know, there was some motivation that made you say okay, this is safe enough for me to do it. Because I think a lot of people, they're held back by this fear of doing something when it's less mature or, or the industry is just not old enough yet.
Laura Medinova
So crypto already now is quite mature. We have regulations in a lot of countries, we have a lot of big funds, pension funds coming in and buying bitcoin as part of their strategy. So this industry maturing quite well. Plus a lot of major banks are already using stables for cross border payments. So blockchain as a technology and crypto as a currency is not new anymore. But when it comes to entering new emerging industries, yes, it's a risk. When I went to crypto is always a very, very risky industry because back in the day everyone associated bitcoin with buying illegal goods through, let's say Darknet. But the thing is if you want to get a competitive advantage, you have to be early, you have to make some sort of compromises and going to industry that is not yet developed because if it's already developed, there are a lot of places going to be very hard to enter. The barrier of entry is going to be very expensive, expensive. Whereas the industry that has nothing, if you're coming and building basic products, providing basic services, you're going to be miles ahead. So that is the risk people need to take in order to achieve something more. Or they can go into mature industry. For example real estate, very good example. It's a very mature industry for thousands of thousands of years but the returns are very low. Whereas crypto where it's very risky, their turns are much higher and their higher because there is risk involved. So it's up to every person's risk profile and risk tolerance, what do they prefer and do they want to, you know, risk it with their career, not necessary with investment, with their career going that might, yes, go to channels down the line or they want to have a more secure path.
Zoe Saldana
You mentioned all the things that have happened within crypto. You have a lot of big players coming in, traditional players. How do you see this in the next, know, two, three years and then the influence of all These other emerging technologies, with AI advancing and quantum computing company, all these things are coming. How do you, how do you see crypto being intertwined?
Laura Medinova
So with every year crypto as an industry becoming more and more mature, and I would say within more years, the kind of the gap between crypto and trad phi is going to be shrinking and shrinking. In the end, we're going to be part of traditional finance probably in 10, 15 years. AI is, I would say AI is a good addition to crypto. AI can be as a standalone industry, but crypto is leveraging it a lot for trading, for easier payment solutions. There are a lot of ways how crypto can utilize AI same way as AI companies can utilize crypto, for example, for payments. So their interests are going kind of side by side. Quantum computing, again, there are these kind of conspiracy theories that once quantum computing becomes accessible, crypto is going to be basically dead because then you can mine bitcoins at the very quick speed and you're not going to need miners. But I think that's more conspiracy theories than reality.
Zoe Saldana
There's always a lot of conspiracy theories. So I'm very interested about the VC and investor space. What is the pulse right now of how VCs and funds like the one that you are a principal of? How are you looking at investments and is there money that is flowing?
Laura Medinova
So VC space right now is very interesting. I would say there is definitely more money than good projects and VCs are struggling to find the right founders to back. The issue is a lot of people who come into crypto space, they come without prior crypto experience and they live all these stories that read in media, especially 1718, where you could come in, write a white paper and have an ICO and raise no 7, 8 figures overnight. Unfortunately not the case anymore. The industry matured and now these are bagging projects, have experience in this space, have built something, a track record, clear strategy of go to market, how, especially if they're doing a token project, how they're going to sustain the token price after the listing. And a lot of founders don't have this experience and then they come into space expecting for quick money, quick VCR rounds, because that was kind of the misconception we had and then get unfortunately sidelined because again, it's not happening anymore. So money is there. The founders are not number two right now. A lot of founder, a lot of sort of VCs are looking into liquid strategies. That means rather than investing into early stage projects because the ROIs are not good, they're looking into liquid tokens and that is top 50 largest coins like Solana, Ethereum and others where they can easily go in and go out, stay with a coin for a couple of months up to a year rather than locking in their money for a couple of years or more investing in a project.
Zoe Saldana
Do you think that there should be a mixture of somebody who has had business success before mixed with someone who maybe understands crypto combining forces? Because I hear this a lot around what you were saying is people come, they don't really have much success before, maybe they're doing the same thing as everybody else or they're trying to do something that would have been, you know, maybe successful many years ago and there's just not enough good projects. Do you think there needs to be more marrying between co founders or partners of different strengths, but maybe somebody who had at least some sort of business success in the past or maybe a successful exit in a non crypto industry?
Laura Medinova
Yes and no. Of course any prior track record is always a plus. The only issue is web2 works very different to web3 and building a successful product in web2 takes very different skill sets and very different Strategy compared to Web3. As majority of Web3 investors, business models are tokens. They're raising not for equity but for token means. Their whole strategy would be of sustaining the token price. And token price can be very roughly, that's not exactly very roughly compared to stock price of the company. It's not the same but kind of we can build a parallel there. So if the founder has an experience of maintaining a stock price, yes, that's a very, very good kind of added value. But the problem is majority of founders have successes in let's say B2P businesses and building a B2B sense business. We see a lot of founders coming into crypto is very different to build a community driven business where it's all about B2C and and the token price. Crypto businesses invest way more money into marketing, into creating hype, creating excitement because you need to sustain the token price. Also it's about token utility. Where we see a big issue is that founders have token for the sake of having token because it can bring you more liquidity or capital when fundraising rather than because there is an underlying need for a token. So when they do that kind of product for sake of having it, of course there's going to be no success in the token price is going to crash the moment get listed. So key thing is understanding how crypto narratives works, how crypto industry works and what it takes to sustain a token price. Whereas also what I, what I always say when we talk to founders is you don't usually need a token. 80% of crypto project don't need a token. Just have a good business model with good revenue, optimize for profit, build the company, be happy, don't put in the token. The problem is token is easy to fundraise. Token gives you liquidity. So this is this double edged word there's a lot of founders choose to do but in the end that is why they fail.
Zoe Saldana
Pitch deck or no pitch deck, you.
Laura Medinova
Always need to have a pitch deck.
Zoe Saldana
What is the perfect pitch for you? If you could think of the company, you don't have to say like a company name or this could be a hypothetical. What's the perfect pitch?
Laura Medinova
So one thing founders fail to understand is that VC are giving money not because it's charity. We're not giving grants, we're not philanthropic organization to fulfill your dreams. We are business as here to make money. And what does it mean? It means we need to provide our returns for either our piece or ourselves. Depending on our fund structure. We invest our own money. So we need to basically give returns for ourselves. And that means we're here to make money. And founders need to focus when they're pitching all around that. And again, VCs are not in the business to make 2X. They're not in a business to make, you know, 10% per year because 10, 15% per year you can get in the stock market.
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Laura Medinova
Per year you can get in yield bearing strategies. So we're here to make multipliers. So the founder needs to basically tell these venture capital firms they're raising or an angel as wherever they're raising from, how will he or she make those returns for the, for the investor? How you gonna get those 10x? What is the proprietary knowledge? You have access? What is your competitive edge? And I wrote a lot about it in my LinkedIn. Then people come and approach me and pitch me and I'm like, so what's your competitive edge? We're faster, we're better, we're cheaper. That's not a competitive edge. Being slightly cheaper than someone else is not a competitive edge. Competitive edge is something that's never done before. It gives you unique access to whatever audience you're asking. It's something very different to what is in the market. And founders forget, forget that. And then they pitch you a project that is some kind of knockoff. We call it the fork from something else. And we just don't see money here. And they're like, no, but we have a dream. We're going to figure out, we're going to pivot. No, you need to tell me how you're going to make 10x with my money. And if you have this mindset, when you're pitching, when you're creating pitch deck, when you're reaching out to investors, how I'm going to make 10x for them, that's going to be the best pitch. And how you're going to make them is 10x is how you're going to launch a token. How are you going to sustain the token price? How you going to sell your product if you're, how you're going to generate revenue and it has to be very specific and exact and if everything is around how you're going to bring money to investors, that's going to be a great pitch.
Zoe Saldana
Thank you for sharing that. I think everyone needs to know what is the perfect pitch and if they've never heard it before, you need to hear it straight from the investor like yourself. So you've had great success. You've made it to this executive position you're also running or the principal of the fund. How has personal brand and personal brand Building on whether it's LinkedIn or other social media played into that, it's again double edged sword.
Laura Medinova
On one hand I get incredible opportunities because of my personal brand. I'm very active on LinkedIn, I educate a lot through LinkedIn for founders on how to pitch, how to prepare, meeting investors because I want to get really good projects. But on the other hand, when you're on the buy side of the equation and people know you are there, if you go to a conference, everyone knows who you are and on one hand it's very nice to, to come in a comment, be like oh excuse me, are you Laura? Like yes. But then after a 10, 15 person comes and you want to be nice and kind to them and listen, don't give them advice, your social battery kind of gets drained. So on one hand it's amazing for opportunities. On the other hand, in my particular venture capital position it's a little bit hard because sometimes I like to be unknown and invisible.
Zoe Saldana
I could see it being exhausting, you know, depending on. So when you go to an event, are you someone who needs to go and then recharge back or are you someone who could just talk all day? Because some people love it. They could just go to an event five days, they still have energy where like my wife for example, after you know, 30 minutes of talking she needs to go back and recharge and then she can go back to the event.
Laura Medinova
I love events, I can definitely spend quite some time there. Like people approaching me. But when everyone approaches you with the energy of take because they want to take something, they want to take an advice, they want to take capital, it gets tiring. It's definitely get darring. And now last week I was in a conference in Dubai. It was whole week, had nine panels throughout the week in different side events. At the end of this week I was drained and people would approach me. And again I want to be kind, I want to be nice to everyone. But when you have no energy, I'm like I'll give you my email, I'll give you my, just please send me things like I don't have the energy to like it's not about you, it's it's me problem. So on one hand personal buying is really good for you because you get a lot of opportunities but, but it also comes at a cost.
Zoe Saldana
It's like being a celebrity.
Laura Medinova
I would think I honestly I can tell you this. Before when I would hear the stories of celebrities like oh my God, paparazzi, oh my God, people approach me, I just Want to have my meal? We're like, why are you complaining? You are like famous. You should be happy. You wanted this. And now when I in like very specific small niche am known for the like for very specific kind of function and, and people the same way approach me. I had this one conference where I literally had a line of 15 people waiting, talk to me. 15 people waiting. Each one of them talked to me. I understand, I genuinely understand. It's nice first five times, but the sixth time you're like, damn, I still have another nine people. I need to be at the good energy, nice, kind, appreciate. You know what I mean? It's like I get when senecity starts. You only get it when you are in this position.
Zoe Saldana
I could see that. I know it's hard not to judge people until you're in something. Then you realize like how people feel. If somebody thinks of the same for you and you could be at these event that you, you know, they might be the hundredth person that you've talked to and you're already tired, how can they add value to your life before they ask you for something?
Laura Medinova
So you know, in my case, I don't mind them asking for something because again, I need to look for good projects to invest in. But I would better say how to talk to vc. So every VC has some sort of thesis how they invest. There are specific narratives, stages, types of companies they invest in. And there are usually these like 5, 10 criteria, I.e. black and white, yes or no, Is it in this narrative or not? Is the company the size or not? Are they raising valuation? We comfortable investing it or not? It's like five ton. So what you can do as a founder, when you go to these events and you grab a bc, you tell them in five sentences who you are, why when you're raising, what you're raising for one sentence, what's the asset, what is the valuation, how much you're raising, who is on your cap table, because that's very important. And then any sexy statistics, partners or anything you can brag about. And that should be five maximum seven sentences. Very certain point, let's say, hey, I'm Janiel, I have this podcast, we have hundred thousand listeners every month. We had these notable people coming to space. We have, let's say Ellen Musk coming in often. We're looking for sponsorship that is $10,000 and in return we'll sponsor, we'll give you five minutes of our time straight away like this. So like it has to be very much straight to the point because then it saves your time and investors time. And then they can say, is it interesting or no? And then if it's not interesting, that's fine. You didn't waste 30 minutes because the big issue is founders come and then they start pitching you 30 minutes. They are telling you all the backstory, how they were the kids and they saw this need and then they were. I'm like, I know you have an amazing story. I have 20 people with an amazing story. I cannot go for every one of them. So if you could save your time and you need to probably talk to 20 investors and you don't have an energy to talk with 20% at the same level. Give me these five sentences. If it's a win for us, let's exchange details. Then we can set up a call. If it's not, well, you didn't waste your time and you didn't waste my time.
Zoe Saldana
Well, thank you, Laura, because one, you just gave me the perfect pitch. I'm going to use that, by the way. And then two, everyone needs to hear this. We do. You know, when we were first growing our team, we needed help fast. We had big opportunities but not enough hands to handle them. We wasted weeks on job boards that barely moved the needle. Looking back, I wish I just used Indeed from day one. Because when it comes to hiring, Indeed is all you need. Stop struggling to get your job post seen Indeed sponsored jobs help you stand out and hire fast. Your post jumps to the top of the page for relevant candidates so you connect with the right people faster and it works. According to Indeed data, sponsored jobs on indeed gets 45% more applications than non sponsored jobs. One of the things I love about Indeed is that it makes hiring so fast because there are no monthly subscriptions, no long term contracts, and you only pay for results. How fast is Indeed? Well, in the minute I've been Talking to you, 23 hires were made on Indeed Worldwide. There's no need to wait any longer. Speed up your hiring right now with Indeed and listeners of this show will get a $75 sponsored job credit. To get your jobs more visibility@inn Indeed.com founders story, just go to Indeed.com founders story right now and support our show by saying you heard about Indeed on this podcast. Indeed.com founders story terms and conditions apply. Hiring Indeed is all you need.
Richard Karn
Hi, I'm Richard Karn and you may have seen me on TV talking about the world's number one expandable garden hose. Well, the brand new pocket hose Copperhead with pocket pivot is here and it's a total game changer. Old fashioned hoses get kinks and creases at the spigot, but the Copperhead's pocket pivot swivels 360 degrees for full water flow and freedom to water with ease all around your home. When you're all done, this rust proof anti burst hose shrinks back down to pocket size for effortless handling and tidy storage. Plus your super light and ultra durable pocket hose. Copperhead is backed with a 10 year warranty. What could be better than that? I'll tell you what. An exciting radio exclusive offer just for you for a limited time. You can get a free pocket pivot and their 10 pattern sprayer with the purchase of any size Copperhead hose. Just text water to 64,000 that's water to to 64,000 for your two free gifts with purchase w a t e r to 64,000 by texting 64,000 you agree to receive recurring automated marketing messages from Pocket host. Message and data rates may apply. No purchase required. Terms apply. Available at pockethost.com terms nearly home isn't.
Daniel
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Zoe Saldana
I can totally see Think back to many conversations I've listened to of people going through their whole Life story for 45 minutes. And we already know people have the attention span of just a few minutes on top of having to think about all these other people that you you also have to listen to. So get to the point. Make it I I'm I'm going to break down this whole thing later. We'll put it in in the notes. I think that was really good, so thank you for sharing that. But Laura, if people want to get in touch with you, maybe they can send you something so they're not exhausting you at an event. Or they can maybe plan something at an event to meet you to talk to you about something so you're not exhausted at that time. But I'm sad I missed Token by the way. I heard it was epic. I think I might see you out in the Philippines, which I'm excited at Philippine blockchain week in 2025. But people want to get in touch with you. How can they do so?
Laura Medinova
So we first of all, we invest only in tokens, no equity. And we're mostly excited about stablecoins DeFi infrastructure pay, interested in early stage evaluations under 50 mil. And if you're building that project, reach out to me at Laura at Gate IO Laura Gate IO Well Laura, this has been great.
Zoe Saldana
I know we've been chatting back and forth for a while trying to set this up, so I'm glad we were able to make it happen today. And thank you for joining us on Founders Story.
Laura Medinova
Thank you for having me here, Daniel.
Daniel
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Podcast Summary: Founder's Story - Episode 228 with Laura K. Medinova, Chief Ecosystem Officer at Gate.io
Podcast Information:
In Episode 228 of “Founder’s Story”, hosted by Zoe Saldana, IBH Media delves into the entrepreneurial journey of Laura K. Medinova, the Chief Ecosystem Officer at Gate.io and Principal of Gate Ventures. This episode explores Laura’s early investment in Bitcoin, her accidental entry into the crypto industry, insights into the evolving landscape of cryptocurrency, venture capital dynamics, and the importance of effective pitching and personal branding.
[02:31] Laura Medinova shares her unconventional entry into the cryptocurrency space:
“How did I go into crypto? Actually, I was in crypto for almost 10 years and I got here by accident.” [02:31]
Laura recounts her college days studying physics, where her enthusiasm for Bitcoin, termed the "magic Internet money," sparked her initial interest. Despite financial constraints, she made a modest investment in Bitcoin in 2016, marking her first step into the crypto world. Post-graduation, her involvement with tech startups led her to collaborate with early ICO founders, culminating in a significant funding milestone that solidified her commitment to the industry at just 21 years old.
[05:26] Laura addresses common concerns about entering less mature industries like crypto:
“Crypto already now is quite mature. We have regulations in a lot of countries, we have a lot of big funds, pension funds coming in and buying bitcoin as part of their strategy.” [05:26]
She highlights the maturation of the crypto industry through regulatory frameworks, institutional investments, and the adoption of stablecoins by major banks for cross-border payments. Laura emphasizes that entering emerging industries inherently involves risks but offers substantial rewards for early adopters. She contrasts the lower returns of mature industries like real estate with the higher, albeit riskier, returns in crypto.
[07:32] The conversation shifts to the interplay between crypto and emerging technologies such as AI and quantum computing:
“With every year crypto as an industry becoming more and more mature, and I would say within more years, the kind of the gap between crypto and traditional finance is going to be shrinking and shrinking.” [07:32]
Laura envisions a future where crypto becomes integrally part of traditional finance within a decade or more. She discusses the synergistic potential of AI in enhancing crypto functionalities like trading and payment solutions. Addressing quantum computing concerns, she dismisses prevalent conspiracy theories about crypto's demise, suggesting that such fears are more speculative than factual.
[08:55] Laura provides a candid overview of the current venture capital landscape in crypto:
“VC space right now is very interesting. I would say there is definitely more money than good projects and VCs are struggling to find the right founders to back.” [08:55]
She explains that while capital is abundant, the scarcity lies in exceptional projects with experienced founders. The maturation of the industry has shifted focus from easy fundraising through ICOs to more sustainable investment strategies. Laura notes that many new entrants lack the necessary crypto experience, leading to a mismatch between investor expectations and project viability. Consequently, VCs are gravitating towards liquid strategies, preferring investments in top-tier cryptocurrencies over locking funds into early-stage projects.
[10:26] Zoe Saldana probes into the importance of diverse founding teams:
“Do you think that there should be a mixture of somebody who has had business success before mixed with someone who maybe understands crypto combining forces?” [10:26]
[11:13] Laura responds by acknowledging the value of prior business success while emphasizing the unique demands of the Web3 space:
“Web2 works very different to Web3 and building a successful product in Web2 takes very different skill sets.” [11:13]
She argues that while traditional business acumen is beneficial, the crypto industry requires specialized knowledge, particularly around tokenomics and community-driven models. Laura underscores the pitfalls of integrating tokens without inherent utility, which often leads to project failures post-listing.
When asked about the ideal approach to pitching, Laura provides actionable insights:
“VC are giving money not because it's charity... We're here to make money.” [13:38]
She advises founders to concentrate on demonstrating how their ventures will generate substantial returns, specifically targeting a 10x multiplier. Key elements of an effective pitch include:
Laura emphasizes brevity and precision, advocating for concise pitches that quickly convey the venture’s potential without delving into exhaustive backstories.
[19:45] Zoe Saldana explores the impact of personal branding with Laura:
“On one hand I get incredible opportunities because of my personal brand... but on the other hand... it gets tiring.” [20:11]
Laura discusses the dual-edged nature of personal branding. While it opens doors to numerous opportunities and positions her as a thought leader in the crypto space, it also leads to constant solicitations which can be draining. She highlights the importance of managing one's energy and setting boundaries to maintain effectiveness and personal well-being.
Discussing networking strategies, Laura offers practical advice:
“Tell them in five sentences who you are, why you're raising, what you're raising for one sentence, what's the asset, what is the valuation, how much you're raising... maximum seven sentences.” [24:24]
She recommends a streamlined approach to networking, where founders succinctly present their value proposition to investors. This method respects both parties' time, enabling efficient identification of potential investment opportunities without exhaustive dialogue.
For founders and entrepreneurs interested in collaborating or seeking investment, Laura provides clear directives:
“If you're building that project, reach out to me at Laura@GateIO.” [30:31]
She specifies that Gate Ventures focuses exclusively on token-based investments, with a keen interest in stablecoins, DeFi infrastructure, and projects under $50 million in valuation. Laura encourages entrepreneurs to present well-thought-out pitches that align with Gate.io's investment thesis.
In this enlightening episode, Laura Medinova offers a wealth of knowledge drawn from her decade-long experience in the crypto industry. Key takeaways include:
Laura’s experiences and insights provide invaluable guidance for aspiring entrepreneurs and investors navigating the dynamic world of cryptocurrency and venture capital.
Notable Quotes:
Laura Medinova [02:31]: “How did I go into crypto? Actually, I was in crypto for almost 10 years and I got here by accident.”
Laura Medinova [05:26]: “Crypto already now is quite mature. We have regulations in a lot of countries, we have a lot of big funds, pension funds coming in and buying bitcoin as part of their strategy.”
Laura Medinova [13:38]: “VC are giving money not because it's charity... We're here to make money.”
Laura Medinova [24:24]: “Tell them in five sentences who you are, why you're raising, what you're raising for one sentence, what's the asset, what is the valuation, how much you're raising... maximum seven sentences.”
This episode of “Founder’s Story” provides a deep dive into the strategic thinking and practical advice from a seasoned entrepreneur and investor, making it an essential listen for anyone involved in or aspiring to enter the crypto and venture capital landscapes.