Ether.Fi CEO: 10 Absurd Behaviors of Crypto VCs When Discussing Partnerships
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Ether.Fi CEO: 10 Absurd Behaviors of Crypto VCs When Discussing Partnerships
Self-promotion, delusion, stealing techniques...
Navigating Web3 tides with focused insightsAuthor: Mike Silagadze
Translation: TechFlow
The fatal mistakes of crypto VCs:
1. Repeated First Meetings
You meet with a partner or associate, and the meeting goes well. They schedule a follow-up call with another partner. But during that call, this new partner has no idea who you are, wasn't briefed beforehand, hasn't read any notes, and ends up conducting another first meeting all over again. If this happens three times or more, even better.
2. VC Rug Pull
A partner reaches out, says they heard you're fundraising, and requests a meeting. However, during the scheduled call, the partner doesn't show up—instead, they send an associate. If this happens repeatedly across multiple fundraising rounds, it's even worse.
3. Anonymous Investors
You're introduced to a VC firm that seems excited. Meetings are arranged. During the video call, the investor appears anonymously, using a silly Wassie avatar. I’ve heard these anonymous investors often turn out to be the sanest and most helpful ones on the cap table.
4. Mysterious Disappearance
You have multiple meetings with a VC, they ask endless follow-up questions, request more data, financials, and your development roadmap—then suddenly go completely silent. Truly eerie.
5. Fake-Out Moves
You spend two weeks meeting with a fund, answering questions, doing due diligence. Then radio silence—you assume you've been ghosted. Suddenly, you get a message: "How’s the round going? Let’s hop on another call." After the call, nothing again. This cycle repeats. Not a full disappearance—just free intelligence gathering.
6. Self-Promotion Marathon
A thirty-minute call with a partner, during which they spend 25 minutes bragging about themselves.
7. Knowledge Theft
A fund holds a meeting, deeply probing your strategy, tech stack, and analytics—then vanishes. One week later, they announce an investment in your direct competitor. You've been used!
8. Psycho Mode
Within thirty seconds of the meeting starting, you’re nearly certain the VC is high. As time passes, they grow increasingly combative, arguing against everything you say—yet still manage to end with, “Let me know how I can help.”
9. Side Questing
The partner has zero understanding of what you’re building. The entire meeting is spent trying to convince you to pursue a completely different business. It gets even more interesting if they actually succeed.
10. Self-Proclaimed Gurus
You're on a call with a 22-year-old associate whose experience consists of a 3-month internship at Goldman Sachs and losing his bonus gambling on meme coins. Yet during the meeting, he lectures you endlessly and offers unsolicited advice.
Alright, that’s enough for now.
We’ve seen every one of these—and many more—during our seed and Series A fundraising rounds.
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@MikeSilagadze
