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AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
During the FTX crisis, many believed Solana was dead, but the teams building on Solana were resilient and managed to keep their funds safe, allowing for continued development.
Video
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Inside Solana: Near-Death Brushes and a Need for Speed (with Solana)
@ a16z crypto
06/13/25
Related Takeaways
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
The early struggles of Solana, including a small team and limited runway, ultimately helped in building a strong community and onboarding developers during tough times.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
Building on Solana was initially challenging, but developers willing to tackle those difficulties were able to create innovative solutions that attracted users.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
We attracted developers who were looking for new capacity and were willing to endure the challenges of building on Solana, which ultimately led to successful projects.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
Our vision for Solana has remained remarkably consistent, which is surprising given the amount of uncertainty and luck involved in the startup journey.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
Solana's willingness to iterate quickly and make significant changes to the protocol while it's operational sets it apart from other blockchain projects.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
The launch of Binance Smart Chain led to many low-effort projects that crowded the market, but those unable to overcome the friction of building on Solana were filtered out, allowing for more capable developers to thrive.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
The platform's design reduced developer optionality, making it harder to code but ultimately lowering business risk, which contributed to the success of memecoins on Solana.
KR
Konstantin Richter
05/03/25
@ EO
The resilient part of being a founder is to continue working on a problem while others tell you it’s not worth solving, and I had to put everything I have into Blockdaemon without a clear promise of a better market environment, just to make it last as long as possible.
AY
Anatoly Yakovenko
06/13/25
@ a16z crypto
I had to make tough decisions during a crisis, including shrinking the team and raising funds, which ultimately extended our runway and allowed us to launch successfully despite market challenges.