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**Techmeme** @Techmeme@techhub.social · Apr 4, 2023

Apr 4, 2023

Web3 messaging protocol developer LayerZero Labs raised a $120M Series B at a $3B valuation, up from $1B in March 2022 when the startup raised $135M (Brandy Betz/CoinDesk)

https://www.coindesk.com/business/2023/04/04/crypto-protocol-layerzero-raises-120m-series-b-at-3b-valuation/
http://www.techmeme.com/230404/p13#a230404p13

Tim Bray @timbray@hachyderm.io

@Techmeme
Are they crazy? Am I crazy? Is everyone crazy?

Apr 04, 2023, 01:54 PM··Fedilab

2boosts·25favorites

**Quinn Norton** @quinn@social.circl.lu · Apr 4, 2023

Apr 4, 2023

Quinn Norton @quinn@social.circl.lu

@timbray @Techmeme they are crazy, and also have very short memories.

**Zac** @lolzac@home.social · Apr 4, 2023

Apr 4, 2023

Zac @lolzac@home.social

@quinn @timbray @Techmeme We all tend to forget that there were people who made a *lot* of money before the big web crash. It was retail investors that were left holding the bag. Not the VC folks

**Quinn Norton** @quinn@social.circl.lu · Apr 4, 2023

Apr 4, 2023

Quinn Norton @quinn@social.circl.lu

@lolzac @timbray @Techmeme oh absolutely, though the winners and losers in that were a little more wide spread, because it happened so fast. not a lot of VC (a couple for sure) and some retail investors, but it was institutional investors that took the biggest bath.

honestly, it was money that needed to be spent to built infrastructure the whole world benefits from, but it should have just been built by govs, not pension funds.