Re projects „overraising“ in crypto: The elephant in the room is that crypto norms create absolutely no incentive to be efficient with capital - quite the opposite. In web2, the less money I spend, the less equity I have to sell as owner and the more I can retain for myself and the team. In web2, everyone understands that founder-owned companies are a good thing. No one is more aligned and driven to lead a company to success. Founders being diluted too much is a common reason why investors stop giving money and companies fail. In web3, if someone launches a token they own 75% of, the result is online rage. Instead of efficient being rewarded, it’s heavily punished. If the market forces you to give away most tokens anyway, you might as well sell them, whether you need the money or not(Hasu⚡️🤖)