Having worked at and invested in number of ‘bitcoin’ companies, the great problem you will always deal with is fiat people, fiat policies, and fiat politics. While this isn’t a problem when the company is small, it becomes more acute with growth for various reasons until it pretty much becomes unbearable. Then it becomes a fiat company that just happens to do bitcoin stuff, and usually sacrifices the real ethos and values that started the company in the first place.

The only real solution is to build totally bitcoin-only (as in no touching fiat) ‘companies’—which there are very few, and as it becomes more successful, the harder it is to keep it that way.

The good news is that soon there will be more of these ‘companies’ if we can really call them that. Over the next epoch, these will provide some of the greatest opportunities (and risks) to build extraordinary new products and services for the whole world and will truly be ‘bitcoin-only’ services that will likely be real pieces of infrastructure of the future internet. These will also provide the greatest investment opportunities ever, as they will be ‘forever’ and ‘everywhere’ companies.