With Electric v3 we think we’ve built something valuable, and important. As you know, Electric has not just been a passion project for me, it is the business of my company Hyperfiddle. We are a team of four engineers dedicated to making Electric the best it can be, and building out the next frontier of abstractions on top of it. We’ve historically used venture capital to fund Electric’s development costs—4 team years, do the math!—but the seed market has tightened, and we realized that it’s in everyone’s interest to maintain a strong and ongoing investment in Electric that is decoupled from VC. That’s why with v3 we’re changing the licensing model to a source available business license: