Naval Ravikant claimed that the majority of crypto projects will collapse in the future because their leaders are getting rich quickly.
Naval Ravikant is a prominent angel investor and entrepreneur based in Silicon Valley, best known for his insights on startups, investing, and personal development. He co-founded AngelList, a platform that connects startups with investors, and has invested in numerous successful companies, including X (formerly Twitter), Uber, and Postmates. His influence in the tech community and investment space has made him a respected figure among entrepreneurs and investors alike.
On November 4, 2024, Naval Ravikant took to his personal X (formerly Twitter) account to share his views on crypto projects. Ravikant stated that the majority of crypto projects will die because the founding team gets rich too early, which is why they will not try to contribute their strong efforts to make new developments.
In response, Multicoin founder Kyle also expressed his agreement with this claim, stating that the best founders are not solely driven by financial gain.
Many crypto experts shared their opinions on the concerns raised by Ravikant regarding the future of the majority of crypto projects. There are numerous examples of crypto projects that entered the space with strong concepts aimed at igniting a significant revolution but became stagnant after a bull run cycle, showing little effort to push development activities to the next level. For instance, we are seeing a lack of continuous development efforts in projects like Ethereum, Solana, Cardano, and Polkadot but the same things are not visible in the other major projects.
If such trends continue, only a limited number of crypto projects will survive. While this may benefit the crypto space overall, the disappearance of any project could lead to significant losses for innocent crypto investors, which is detrimental to the reputation of this innovative and maturing space.
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