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  • talk to me about how you choose investments.

  • If people go to Pantera, your website, they can look at your portfolio companies and you know, it's an impressive list.

  • I listed off some of them earlier audience was in the news yesterday I think with the Tiktok deal.

  • So congrats on that.

  • I know you had a big price spike.

  • I know you're in for the long run, but that's amazing.

  • I mean zero ax one inch, not to mention the coin buses and the bit stamps, you know, how do you look at these things?

  • How do you invest in these things And how do you stay calm when like audience pops like that and in the day and you say, OK, but we're here for the 20 year look like, how do you manage all that?

  • Yeah.

  • So, uh, you know, the space is getting more interesting.

  • I have to admit, you know, back in the day was fun because there's only one thing Bitcoin and even that's kind of hard to get your head around now.

  • There's thousands of different things to look at.

  • Uh, so one of the things we've done is we've grown our team that 50 people used to be, you know, just a handful of us.

  • So we're looking at tons of deal is trying to figure out which ones have value occasionally become remarks with a view kind of like a global Microsoft view that we, we want, you know, uh, this type of cross border running movement company and we want, you know, scalability company, but mainly it's just, we get pitched all kinds of fascinating things and we try and see if, you know, the product can work, you know, the team's gonna be able to do it.

  • Uh, you know, a great example, I got a cold email from Brendan Eich and he said, hey, we've never met, but I invented javascript and I was the chief architect of Netscape and the co founder and Ceo of Mozilla and I'm doing a Blockchain browser, you know, you want to talk, I definitely want to talk and so, you know, we just keep hearing interesting ideas like that and trying to figure out whether they do a book.

  • You know, we've seen a lot of projects that come up with something in their white people that we ultimately conclude literally is impossible.

  • Even if you have 1000 developers and 1000 years you actually can't build what's in there.

  • But if it is buildable and team seems like they're going to be able to motivate a community to help them build out the project.

  • You know, then we took a strong look and interpersonal, we were trying to invest in what we think is gonna happen kind of in this serial era.

  • Um, you know, there are each, each, we've done three venture funds were doing our fourth right now.

  • Um, each of those first three is kind of like a geological strata, like, you know, like a snapshot of the time.

  • Our first fund was all about how to buy Bitcoin, like stamp how to store it like Zoppo kind of primitive, like ripple labs uh circle kind of just the very basics of the industry.

  • Uh And then that kind of got built out.

  • So the second fund was about cross border money movement and mainly using just Bitcoin, not black chains.

  • So invest in a bunch of regional cross border money movement companies, things we've got, but then that kind of got built up because most countries have a pretty good dominant player now.

  • And then the third fund was much more about other or other live chains scalability, non financial use cases.

  • So each funds kind of snapshot and that's what we're looking for now, we're just starting to raise money for our next fund and there's all kinds of new non financial use cases uh that we're investing in scalability so important.

  • Um and in looking at those entrepreneurs projects, you know, that can really make an impact audience, you know, being a great example, building a decentralized version of the music sharing sites we're all used to and that's a huge uh theme for us and for our whole industry is so good.

  • But three point out, you know, doing what we're doing with companies like Uber Airbnb, but doing a decentralized version of them and it seems pretty obvious that in the future.

  • Right?

  • And so audience isn't D5 per se, but it's Web 30 where it's kind of Blockchain based, is that how you would describe it to someone on the streets.

  • Yeah.

  • You know, all these uh web two point applications that Like Airbnb people with excess capacity for housing with people who need accommodation, match them up.

  • It's a great idea, but it might not need to be a 30% attacks for the rest of eternity, right?

  • So you can build a decentralized version of many of those businesses and the music is sharing business is a great example.

  • The artists actually get very small cut of the amount of money spent on their production and all these middlemen music sharing sites, you know, take most of the value.

  • And so if you can use Blockchain to connect the artist with the consumer, you can give both of them a much better experience at a lower rate.

  • Right?

  • And they can buy equity with tokens at the same time, Right?

  • Yeah.

  • So the community can participate, you know, in the in the value creation.

  • That is a big difference between protocol tokens and equity which is funded the dot com boom.

  • Like you were mentioning that none of the value went to the community, none of the value went to the people who built the protocols that drive um drive the internet, All of it went to the handful of companies, you know, like the Facebooks and googles that got control certain areas.

  • And so very little goes to the producer.

  • The content.

  • Facebook is a great example, 2.4 billion people spend 50 minutes a day producing content for facebook, they don't get any value, and they actually end up paying about half of people's data bill that they're paying is paying for ads and malware, they're being down while they're waiting for what they actually are searching for.

  • So doing in a decentralized way with the community itself shares in a success, you know, I think is I was more equitable way, I think, you know, the way their future will go.

talk to me about how you choose investments.

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A2 kind fund decentralized blockchain border snapshot

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    林宜悉 posted on 2021/09/04
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