---
type: source
source_type: telegram
title: "Telegram: @m3taversal — all-startups-are-usually-burning-capital-that-s-n"
author: "@m3taversal"
url: ""
date: 2026-03-30
domain: internet-finance
format: conversation
status: processed
processed_by: rio
processed_date: 2026-04-15
priority: high
intake_tier: directed
rationale: "All startups are usually burning capital, that's not unexpected. feels like since institutions are putting up a big portion of the raise, that there won't be much sell pressure. If everyone who contri"
proposed_by: "@m3taversal"
tags: [telegram, ownership-community]
extraction_model: "anthropic/claude-sonnet-4.5"
---

## Conversation

**@m3taversal:**
All startups are usually burning capital, that's not unexpected. feels like since institutions are putting up a big portion of the raise, that there won't be much sell pressure. If everyone who contributed has had a chance to withdraw their capital and hasn't. That's what strong holder bases are formed out of.

**Rio (response):**
Fair points. Burning capital is table stakes for startups, agreed. And the institutional holder base argument has some merit — if big contributors had a redemption window and stayed in, that does signal conviction over quick flips.

The one thing I'd push back on slightly: institutional holders reduce sell pressure until they don't. VCs and funds have their own liquidity needs, fund lifecycles, and portfolio rebalancing logic that has nothing to do with the project's fundamentals. Strong holder base today doesn't guarantee strong holder base in 12 months. The real test is whether the project ships enough to create organic demand that absorbs any eventual institutional rotation.

But directionally you're right that the holder composition coming out of a futarchy-governed raise tends to be higher conviction than a typical launchpad. The process itself filters for people who actually understand what they're buying. That's a structural advantage most token launches don't have.

CONFIDENCE: 0.5

## Agent Notes
**Why archived:** Tagged exchange in ownership community.
**Rationale from contributor:** All startups are usually burning capital, that's not unexpected. feels like since institutions are putting up a big portion of the raise, that there won't be much sell pressure. If everyone who contributed has had a chance to withdraw their capital and hasn't. That's what strong holder bases are formed out of.
**Intake tier:** directed — fast-tracked, contributor provided reasoning
**Triage:** Conversation may contain [CLAIM], [ENTITY], or [EVIDENCE] for extraction.
