
Writing about how protocols acquire market power. Founder @auditless. Clients raised $450M+.
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Joined November 2009
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We started collaborating with the @UniswapFND in late 2023.
At the time, @unichain wasn't even a project.
It's amazing to see @unichain reach $1B in TVL and become the place where teams like @euler and @renzoai go to design net new protocols.
Time to share more about our grant.
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Great benchmark to think about.
Subsidizing tokens is dangerous, but also charging a flat premium over underlying token costs is not a good business model.
Replying to @parkerconrad
Many (most?) investors disagree with me on this, but they are wrong. Gross margins on token spend, *at full utilization,* is the single most important metric for AI application companies. It's the purest measure of your value-add on underlying intelligence. 2/
.@auditless is expanding beyond crypto because AI has changed what we're interested in building.
We are using AI internally more and more in our projects... not just in development work, but in research as well.
More importantly, we are also working with companies outside of crypto... We are taking our offerings (strategy & implementation) and applying them much more broadly (PE).
Catch the full interview with James here:
One of the most productive software teams pre-AI is undeniably @37signals.
Here's what @dhh revealed about how they are working post-AI.
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I hope you've found this thread helpful.
Follow me @p_e for more.
Like/Repost the quote below if you can:
One of the most productive software teams pre-AI is undeniably @37signals.
Here's what @dhh revealed about how they are working post-AI.
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