Let’s imagine that you are the founder of a company that has successfully raised an angel or institutional round and are currently in a situation where you have 12 months or less of runway.
The hardest part of dealing with a low runway situation is managing your own psychology. You have to simultaneously manage your own anxiety to not be overly negative about your prospects, but also not be irrationally positive. It’s a delicate balance.
The first step is to understand exactly how much cash and runway you have.
If you are Default Dead then it is your responsibility as a founder to immediately take actions to become Default Alive. The mechanisms by which you can move from Default Dead to Default Alive are straightforward: Either you need to grow revenue more quickly, cut costs, or both.
Exploring how we can bridge the Web 2 and Web 3 ecosystems in the long run and how identity plays a big part in it.
I think Web 3 is here to stay. By Web 3 I mean the philosophy, concepts and technologies that prioritize user choice and ownership, and can be used to build decentralized services. Blockchains (e.g. Ethereum, Solana), tokens, protocols (e.g. IPFS, TheGraph, Lit), services (e.g. ENS, Filecoin), dApps and users’ keys make up Web 3 (not meant as an exhaustive list).
Now, decentralization is emerging across biotech in various ways: Startups are launching outside the major hubs, sharing lab space, hiring across borders, and collaborating on research projects.
We’re even seeing new types of organizations beyond traditional companies, such as decentralized autonomous organizations (DAOs), enter the drug-development game — with funding to boot.
Decentralized models are still experimental. But they lower the barrier to entry for smaller companies and harness the talents of a more diverse pool of scientists, potentially hastening the development of new drugs and, hopefully, effective cures.
