Retail are not the only ones losing money in this market. Based on recent data, VCs benchmark return for this cycle is ~1X. Most investments barely broke even ↓ → @zama: Raised $229M at $1B FDV, current FDV is $394M. Down 60%. → @plumenetwork: Raised $30M at $1B FDV, current FDV is $110M. Down 89%. → @JupiterExchange: Raised $137.5M at $3.78B FDV, current FDV is $1B. Down 74%. → @build_on_bob: Raised $29M at $230M FDV, current FDV is $68M. Down 70%. → @wardenprotocol: Raised $4M at $200M FDV, current FDV is $122M. Down 39%. → @fragmetric: Raised ~$13M at $125M FDV, current FDV is $1.5M. Down 99%. → @reddio_com: Raised $300K at $80M FDV, current FDV is ~$1M. Down 99%. Retail isn't absorbing VC exits like in 2021 anymore, and it's unlikely we see big returns like that again. The market doesn't discriminate.