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Deep Dive with Lindsey Maule, CEO & GP at Luna Capital

CEO & GP of Luna Capital Fund | @lindzjm

posted 8 months ago

with or if you'd like to join the discussion.
Dennis Stücken
Whats the latest ICO you invested in, and which was the first?
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Lindsey Maule
[DELETED]
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Val Klump
How do you approach ICOs? Any favorites from last year? Any future ICOs that look promising to you?
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Lindsey Maule
@valdean

I like projects that have built out a prototype, and then really great ideas with highly intelligent, experienced founders that are solving a problem that will attract a developer community. At this point, execution is really important, so it shouldn't be that different than traditional seed funding.

A famous accelerator actually had a time where they tested out mostly investing in founders at the idea stage, and it seemed to fail. I like to see founders put in work beforehand.

I think it's too early. Tokens are quite easy to predict how well they are going to do in the short-term of a few months. I do believe projects that are going to actually have enterprises use their products first will be very successful.
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mahoney turnbull 马甜甜
when is this deep dive happening?
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Ben Tossell
@Mahoney-Turnbull todayyyyyy :)
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soona
What's the best piece of advice you've received? (for investing and/or trading in general)
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Lindsey Maule
@soonaorlater

Trading:

- Be disciplined.

Investing:

- look at market trends and look five years ahead.

- see what's trending in the younger generations.

- invest in founders you believe in with great and wild ideas. Sometimes the idea is so absurd but if the founding team is passionate about it and can show execution, sometimes that's what it takes to build a successful company. Ideas will develop, grow over time if the founding team is strong.
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Gary Coover
What are the most persistent business needs you're seeing from early stage bloackchain/crypto startups? Obviously the core tech is critical, but are their critical business roles needed that may be unique to he space?
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Lindsey Maule
@c00v

1. Token Economics person
2. CFO, someone who can manage the money and can help liquidate assets in a structured and timely matter. I'm seeing a lot of founders struggle with money management and it takes away from their time building.
3. UI/UX designer.

Maybe these aren't unique sounding but I think it's important.
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Gary Coover
@c00v @Lindsey-Maule thanks so much for the response! Is the token economics role focused on adoption incentives or something else?
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Ben Tossell
what is your advice for crypto-newbies?
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Lindsey Maule
@bentossell

- Educate yourself on the tech and know your risks. Youtube tutorials are great.

- Find a community of crypto investors. It's good to know what other people are excited about.

- Read the whitepapers and if you don't understand something, ask someone who understands the tech. I think it's great to follow thought leaders in the space on Twitter to see what they're up to but not everyone is perfect or right, and it's okay to question or push back.

- Don't 100% trust someone's every investment, no matter who they are.
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Ben Tossell
What is grabbing your attention most in this space?
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Lindsey Maule
@bentossell
- Projects that are solving scalability, like DAGs (not every dag), and those that have the potential to build a large developer network around them, like Deco Network, which allows developers to license their code.
- Mobile apps that have a simple, sleek UI/UX. I do think better UI/UX that is more user-friendly and more reachable to users will take this technology mainstream.
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Stanley Hataria
@bentossell @Lindsey-Maule what would be some example projects you are looking in this space?
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mahoney turnbull 马甜甜
@bentossell @Lindsey-Maule What are some of the best, most beautiful UX/UI examples of crypto apps that you've seen recently??
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Ben Tossell
What do you do to analyse crypto investment opportunities?
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Lindsey Maule
@bentossell

For ICOs, I sometimes write business reports that rate the project by their founder experience, total market, idea/uniqueness of it/is it solving a problem, community (I will stay in a chatroom and read what other people are saying about the project), advisors (make sure they are meaningful and that the advisors aren't those who hop on everything, which devalues a project to me), etc.

This sounds very VC but everyone should be doing this type of analysis in a non-liquid investment.

Regarding public tokens, I look more so at trends and sometimes choose tokens that are way undervalued, which are very useful when there is a market correction.
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Val Klump
Does your fund invest entirely in coins and tokens? How do you pick which ones to buy and sell?
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Lindsey Maule
@valdean Luna invests in only tokens right now.

Regarding ICOs, we narrow down to the projects that solve the limitations in blockchain technology today, and where we want to see disruption happen first, like the traditional financial industry.

As for our investments in public tokens, we look at projects that have made real progress and continued to build their developer community over time. There are many sleeping giants that are heads down building and paying less attention to marketing. I want to find more of those.

In regards to selling, consider your taxes. Also, if the team blows up, gets lazy, and there's liquidity -- sell.


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Val Klump
What small coin / token (say, under $5b market cap) do you think has the best team in crypto?
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Lindsey Maule
@valdean

Teams look really great on paper, in the press, and can look great during first impressions. I can answer this a few months to a year from now when I see more progress :) It seems like everyone is on roadshows doing marketing right now.
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Stanley Hataria
Which projects do you think would survive 10 years from now?
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Lindsey Maule
@Stanley_Hataria

Companies will probably survive because now they have a ton of money. Projects may be floating for a while and pretend they tried.

Regarding token value, I see a lot of teams failing to execute because they get lazy and investors will start to question them, which may cause lower consumer confidence in the token.

Overall, I don't know which projects will survive 10 years from now. That all depends on the team. With a lot of money, there's not much incentive for founders to continue building out their project in 10 years. It may be the ones with the most user growth with a real business model behind it and/or those with growing developer communities.
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Stanley Hataria
What portion of ones net worth should be in crypto according to you?
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Lindsey Maule
@Stanley_Hataria

I am not a financial advisor, and I do not follow the rules of a conservative one. It depends on your risk tolerance and what your life would be like if you lost everything and how easy it will be for you to start over.
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Stanley Hataria
Favorite crypto podcast, people, books, tools?
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Lindsey Maule
@Stanley_Hataria

I honestly do not listen to a lot of podcasts and occasionally look at my Twitter feed to keep up with people because I try not to let a few people influence my outlook. It's really easy to fomo.

It's really hard to get strictly educational use out of things online because a lot of things are heavily biased. I like YouTube, only because I am a listener and am visual. I often review topics from good and bad reviews and come up with my own interpretation.
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