The vocal *minority* prefers moonboi “feel good” content
The silent *majority* prefers data driven analysis seeking truth
We work for the silent majority
The reason we are debating Finance 101 is that the ETH community doesn't want to admit that this chart is the reason that ETH has underperformed, relative to Solana.
The faster we accept the truth, the faster we force leadership to fix this.
Valuation frameworks for equities in the 1920s *did not come from the companies themselves.*
They came from the bottom up.
If ETH holders don't think the chain should return value to them, guess what?
Neither will leadership.
That doesn't feel like a bright future.
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P.S. We shared our valuation framework for L1s today with readers of @the_defi_report
If you'd like to check out the latest research, see the comment below 👇
As always, opposing views are more than welcome.
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