The first step in the process of raising venture debt is a quick, introductory filtering phone call between you and the potential lender that’s an equal amount selling and listening — on both sides.

All forms of money are not equal. The highest rung is occupied by cash. The only digital asset capable of replicating such a safe position is a CBDC. Safe in terms of liquidity and counterparty risk.

Historically, the main actors in venture capital have been a specialized set of tech investors who themselves came from the technology industry. They understood it well because they were the ones who ...