📶 the death of the opportunity funds

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Good morning 👋

And welcome back to work.

We asked on Friday how many of you are using management fees to hire engineers. The results were a little different than what we were expecting (results at the bottom).

Today we’re covering opportunity funds, why they got popular, why they’re currently unpopular, and what we think happens next.

Let’s get into it.

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Today’s highlights

• What’s next with opportunity funds

• The 2024 state of crypto

• The absurdity of being cheap when hiring

• Chart of the day: Nobody wants to invest in LatAm anymore