founders asking me for $500K without even MVP? WTH? guys, such checks will NEVER happen in Web3 anymore
I get pitched almost every week. Pre-seed, big number, zero product.
and the first question I always ask is: what are you actually spending this on?
answer is always the same recycled list: team, development, marketing, runway.
Real conversation from my TG this week: someone pitches me a Pre-Seed round - $500k. I ask what it's for. They say they don't know, still discussing with the founder. Then offer to create a group chat so me and the founder can talk directly.
come on!
any prototype today gets built with a $500/month AI subscription. I'm not exaggerating.
you need a working MVP? Weeks, not quarters. A few hundred dollars, not half a million.
market already figured this out. Investors stopped writing those checks. And founders who are still pitching like it's 2021 are wasting everyone's time - including their own.
no product = no serious conversation. That's the new baseline.
What do you think bout it?