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Eric Chen

04/08/25

@ EO

During the crypto winter, we witnessed Bitcoin drop below $6,000, leading to a loss of VC and institutional interest. We had to learn to be extremely efficient and scrappy with our limited incubation capital.

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A College Dropout Builds $1B Startup at 22 | Injective, Eric Chen

@ EO

A College Dropout Builds $1B Startup at 22 | Injective, Eric Chen

04/08/25

Related Takeaways

Chandan Lodha

04/03/24

@ Y Combinator

Going through a crypto winter is brutal; it's probably the lowest point I've experienced as a founder.

Chandan Lodha

04/03/24

@ Y Combinator

During a crypto winter, we must hunker down and use our resources effectively to continue building, so we can ride the next wave of crypto adoption.

Konstantin Richter

05/03/25

@ EO

During the second crypto winter, we had to make hard choices, including letting go of team members, to ensure operational efficiency.

Chandan Lodha

04/03/24

@ Y Combinator

As the crypto market began to cool, we received feedback that we were losing our product edge and failing to keep up with the evolving needs of users in the crypto space.

Eric Chen

04/08/25

@ EO

I had to earn every single user and every single dollar that came in, which taught us to be extremely efficient and scrappy with our incubation capital.

Aadit Palicha

04/18/25

@ Y Combinator

In March 2022, we faced a significant challenge when capital markets fell, and we had to create as much efficiency as possible to survive against competitors with much more cash.

Chandan Lodha

04/03/24

@ Y Combinator

Building crypto companies is challenging, but using the downturns intelligently can help you emerge as a stronger company.

Sequoia Capital Cast

12/19/24

@ Sequoia Capital

During the pandemic, trends that previously fueled business growth suddenly reversed, leading to a dilemma about how to engage potential investors.

Eric Chen

04/08/25

@ EO

During the 2019 period, we learned that capital might be very hard to come by for an extended duration, which shaped our conservative mindset during optimistic times and our optimism during fearful times.