Over the last 15 years working as an operator, I’ve seen many different kinds of projects. Some succeeded. Some didn’t. Some had great products, others didn’t. Some teams kept moving forward, while others eventually collapsed. For the past six years I’ve been working inside the Web3 ecosystem, and one pattern keeps repeating itself. The reasons for failure are always complex. Markets shift, teams break, funding dries up. But there is one factor that appears far more often than people like to ...

Over the last 15 years working as an operator, I’ve seen many different kinds of projects. Some succeeded. Some didn’t. Some had great products, others didn’t. Some teams kept moving forward, while others eventually collapsed. For the past six years I’ve been working inside the Web3 ecosystem, and one pattern keeps repeating itself. The reasons for failure are always complex. Markets shift, teams break, funding dries up. But there is one factor that appears far more often than people like to ...