The relationship between projects and VCs often comes with a fundamental misalignment. When venture capital steps in, projects typically view users as exit liquidity rather than true partners. This creates a conflict in incentive structures.

Consider the difference: if users are treated purely as liquidity sources, they become disposable—value is extracted when the project exits. But what if the model flips? What if projects genuinely positioned users as owners rather than exit fodder?

This is where the philosophy diverges. Most projects chase VC backing because it offers faster scaling, credibility, and capital. Yet this capital often comes with expectations: achieve metrics, find your exit, return multiples. Users become means to an end.

Some projects, however, are charting a different course. They're choosing to prioritize user ownership—building genuine stakeholder relationships rather than speculative funnel funnels. When users feel like owners, not exit liquidity, the ecosystem strengthens from the foundation up.

The question isn't whether VCs are necessary, but rather what kind of relationship a project wants to build with its community.