One of the underappreciated secrets to winning in any new sector is: just stick around. If you just stick around long enough, the losers blow up early. Then the winners retire early. So eventually you win by just doing the work when nobody else can or wants to. When people ask me how we built Dragonfly to became one of the biggest VCs in crypto, this is mostly the answer. We didn’t start with a big brand or any obvious advantages. Few people in the crypto world knew who I was before Dragonfly. But we just kept doing the work. While others got too rich and retired, or just got bored or distracted, we kept doing the work. For 7 years. It’s kind of that simple. (This insight shamelessly stolen from @naval)