https://www.investopedia.com/terms/b/burnrate.asp

i hear this expression "vc burn" from my boss, who is a former gartner associate analyst, a lot, and the whole business of the company he runs is about trying to find VCs to build a decentralized social network for work collaboration

Odell is managing partner in ten31, a bitcoin first VC firm, and proud to show off that his choice to invest (other people’s money) in Swan might actually start paying off for the investors. Rare.

Nah, this is Odell pointing out Corey's hubris. In His previous, Corey, is saying that, like ten31 (O'Dell's vc fund) they used to lose money, but now they've grown smarter and will make loads of money. Today's announcement, Swan pulling out of mining and laying off loads of good bitcoiners, suggests Odell was right to be skeptical of Corey's claims.

They had mass layoffs today, probably killing their managed mining operations soon, and canceled their IPO plans

Not that we see, but they are laying off at LEAST 6-7 employees so far. Both public facing and non public facing employees

Layoffs and closing their mining

The power of WE