Silicon Valley’s respected angel investor and philosophical entrepreneur, Naval Ravikant, shared his views on why many cryptocurrency projects fail.
According to Ravikant, “Most crypto projects die because the founding team gets rich too early, and you can’t find a way out of that by hiring.”
This statement, which had a wide repercussion in the crypto community, was also supported by Multicoin Capital co-founder Kyle Samani, who stated that the best founders are not only after financial gain.
Ravikant, who has invested in industry-defining companies like Twitter, Uber, and Ethereum, is known for blending business acumen with deep philosophical thought. Born in India and raised in the United States, Ravikant’s path to success was not easy. Growing up in a lower-middle-class family, he developed the resilience, reading, and self-education that would define his career.
After finding success in the tech industry, Ravikant’s curiosity led him to blockchain technology. In 2014, he co-founded MetaStable Capital, one of the first cryptocurrency hedge funds to invest in emerging digital assets like Bitcoin and Ethereum. His long-term approach emphasized backing projects with real potential, even if mainstream interest had not yet materialized.
Ravikant’s understanding of blockchain went beyond financial speculation; he saw it as a force that could reshape society. His belief in the transformative power of decentralized systems is summed up in his claim: “Blockchains will replace networks with markets, they are merit-based, tamper-proof, open voting systems.”
*This is not investment advice.
