Cryptocurrency-linked startups attract record seed funds, with blockchain infrastructure plays commanding $50M+ Series A rounds. Investing in startup blockchain firms could align with broader Web3 adoption forecasts of 40% CAGR through Reality: “It’s (mostly) not true. I lived in California before I started business school, and I was terrified that I would get hypothermia on my way to class. But you bundle up well, you get used to it quickly, and everybody understands the main mission when you’re this far north – function over form in -20-degree weather. Ross has lockers in the basement where I stash a business casual outfit if I need one, but beyond that, everybody is on the same page that you just wear whatever keeps you warm. I will confess that there are consistently one or two weeks every year (usually in January) when it gets COLD, but beyond that, the weather is practically perfect.” Mark O’Connell , University of Michigan (Ross) A cap table is one of the first documents reviewed during venture due diligence. It shows how control, ownership, and incentives are distributed between founders, employees, and investors. If it’s inaccurate or incomplete, investors can’t assess how much equity founders and employees will hold after a new round — which directly impacts motivation and long-term alignment. Investors are focusing on payment infrastructure innovators offering scalable solutions to emerging markets.