The relationship between equity and tokens in a successful token sale may blur, as the company's value could derive more from its token holdings than from traditional equity.

As infrastructure for asset-backed tokens develops, it may make sense for companies to raise equity through tokens that represent that equity.

Yes, every startup doesn't necessarily need a non-technical co-founder, but it can be beneficial depending on the context.

The ultimate goal of blockchain and tokens is to create a trustless system where no party has to trust another, achieved through proper incentives.

Airbnb is not a suitable candidate for a token model because it relies on trust in a central intermediary, which contradicts the need for a decentralized trustless system.

The most valuable applications of blockchain technology are those where parties do not trust each other and seek to create a trustless system, which is not applicable to many traditional businesses.

In the future, I expect a relatively small number of blockchains but a high number of tokens, as many token networks allow for other tokens to be issued on top of them.

Being part of a team that trusts each other and feels treated fairly is essential for survival in a startup environment, rather than being a distraction from it.

After launching a token, it's important to view it as day one of ongoing work, not the end point, as the dynamics of community and market perception will significantly impact the project.