Yesterday I sent a note out to all of the crowdfunders who backed Balance in 2017. The vast majority of responses were incredibly kind & supportive. A few people were angry & upset. Several people were unforgivably rude.
Over 1,000+ people gave Balance just over $1m in 2017 (after fees & Wefunders cut). We deployed that capital over 3 years and failed to raise more capital. I poured a significant amount of my own money into the company. So did my father.
No one lost more than the Burtons. I am proud of that fact. We put our skin in the game. We did our absolute best to keep this show on the road. That is how we roll.
The people who complained fall into three clear buckets:
People who have never started a business
People who have never invested in a startup
People who have no understanding of cryptocurrency
I cannot fault anyone for not having these experiences. The kindest notes were from people who understand how tough this game is. The people who actually start things.
This is the most glaring example of how hard startups are: Wefunder is down.
Wefunder is probably on its last legs. It went down when we launched our funding in 2017. The team mean well but they are also struggling to keep the project going.
I want to make some things clear to all the Wefunder investors:
Balance the company is just doing consulting. It is alive.
I never paid myself a regular salary from the company.
You are going to get a share in what I am doing next. More to come.
Please be patient. I am never giving up. I am not stopping.
Investing in DeFi
The world is heading into a huge Coronavirus-induced recession. Lots of people are going to lose their jobs. Lots of people have already lost a lot of money.
I am going to invest the remaining capital I have into the one thing I think I understand better than most investors, the decentralised financial system emerging on top of Ethereum:
I think this is the best way for me to generate a return for myself (and my investors) over the long term. I think this system is going to grow while the traditional economy implodes. If I am right, we will all benefit together.
What I want you to do
My plan is to give back to people using the Ethereum network. I will share more soon. First, I would like you to do three things:
Register for the Argent Ethereum Wallet: argent.xyz
Install the MetaMask Wallet in Chrome: metamask.io
This will give you a mobile wallet & a desktop wallet that we can use to manage any distribution in the future.
Just reply to this email & I will follow up ASAP.