venture funding is consolidating around short-term positioning

Cycles rhyme, but the plumbing underneath keeps changing.
Useful frameworks survive longer than seasonal slogans.
Put beside current chatter on “What Are Privacy Coins? Bitcoin, Monero and Zcash Compared,” the incentive problem looks clearer.
Ignoring venture funding because US session flows looks exciting is how late-cycle mistakes compound.
In that environment, patience is a position, not a slogan.
Cycles rhyme, but the plumbing underneath keeps changing.
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