Couldn’t disagree more here
$PUMP raising at a $4B when they earn more than $500m/year in rev is more than fair
They raised this much bc they plan to compete with the biggest social companies in the world (not our tiny little crypto eco)
And they didn’t airdrop bc honestly, airdrops are a pretty stupid thing for any company to do
This is an old thing that crypto projects thought they needed to do to decentralize and not get in trouble by the SEC
Those days are over. Now we can just build companies and raise capital onchain when we need
We don’t need to give 50% of our companies away at the same time just so we don’t go to jail
Time for crypto to grow up and learn how REAL companies are built
We are entering a new era of crypto. People need to stop living in the past.
I rarely criticize projects but the $PUMP launch was horrific and should be a literal model of what not to do
Raising this much money isn't necessary if your project narrative is growing
Meme coin launchers are not special and there is no moat
Best of all they didn't drop to their power users because they know 100% those users would insta nuke
PUMP must now figure out some new biz model they can control, I give it a 1/100 shot
Again, this might mark the bottom but the fact we've even dropped this low indicates the public sale was dramatically overvalued
Grotesque in every single way
Oh and I think $PUMP is crazy undervalued here
They have almost as much capital in their treasury as their market cap is worth
and yet, are still generating more than $500k/day and using 25% of that to buy back the token
Always go against CT narrative, always
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