equity should be diluted

Every traditional company in the last 300 years, has always diluted equity in return for capital. That is how businesses are run, and we believe that should continue onchain. 

The reason we give 50% to founders is so that they can gradually dilute, and sell it to either retail (or) the right institutional investors in return for capital. 

We don’t believe buybacks are the most optimal way to spend money until you’re sitting on great profits (or) a lot of raised money. In both cases, it makes sense to drive value to shareholders. 

But in 99% cases, all revenue is best spent to expand your team & business till you arrive to pmf.