Panic with Friends – Investing for Profit and Joy
I’ve got Kyle Samani back for his third appearance on Panic with Friends. As usual, Kyle does a fantastic job of breaking down crypto with compelling use cases that will leave you with a better understanding of where we’ve been and where the promise of Web3 will take us. I’ve been a personal LP in his fund since it started in 2017. This episode piggybacks last weeks episode with Tushar Jain, Kyle’s co-founder at Multicoin Capital. Listen to them both. You’ll walk away realizing the inevitability of Web3 and where the major trends in technology are developing.
You can listen to the podcast here on Spotify or Apple podcast and now all the episodes are on my YouTube channel as well.
You can also listen right here on the blog:
Guest: Kyle Samani
Profile: Co-founder Multicoin
Where to Find Him:Â LinkedIn, Twitter
What’s Kyle Panicked About?: Panicking on the show for the third time
Previous Panics:
Kyle Samani Joins Me On Panic With Friends to Talk the Past, Present and Future of Crypto (October 2020)
Related:
Tushar Jain, Co-founder and Managing Partner of Multicoin on Crypto: Sovereign Software, Surviving a Brutal Winter and Seeing Through the Fog (February 2022)
The Takeaway:
It’s important to understand the crypto market structure is unlike any other market that’s ever existed. One important difference is the number of individuals who own crypto compared to those who own individual equities–and how fast that number is growing worldwide. The number of people who own crypto could grow to 400 or 500 million over the next several years. How those who will own crypto (and will probably never own equities) access information and how they decide what to buy is different from other markets. The adoption of self-sovereign software systems will accelerate. Composability will be key to reducing latency and increasing through-put. The hope is we can use crypto systems to preserve the benefits of the internet–open access to information with sovereignty for end users. Finance is part of that. NFTs are part of that, and applications like Helium will help disseminate information in a way that maximizes human autonomy. Web3 compliments Web2 in many ways: there will be new classes of apps that will be purposefully decentralized for a variety of reasons. It could be a function of persistence or a function of trust mitigation or a function of permissionless access. Many kinds of decentralized systems and apps will leverage one or more of those functions–like compute, indexing, or telecommunications.
Show Notes:
- (00:37) – Intro
- (03:38) – The biggest changes from 9 months ago
- (04:45) – Growth and estimates of individual crypto holders
- (05:30) – Changes in how people access information
- (07:48) – Trading platforms are a commodity
- (09:23) – The ‘flippening’ from stocks to crypto
- (10:27) – Composability explained
- (13:45) – Building higher order apps on top of existing things
- (16:11) – Importance of latency and throughput
- (17:45) – Accelerating the adoption of sovereign software
- (19:54) – How things are different now
- (23:04) – The case for compute (Render)
- (28:20) – Designing a token system that captures value
- (32:07) – Fleshing out the Web3 infrastructure
- (32:17) – Defining Web3
- (34:25) – Web3 compliments Web2
- (35:41) – Understanding competing blockchains
- (38:47) – Binance, FTX, and Coinbase
- (43:46) – Closing thoughts
Links:
Multicoin Summit | 2021 | Defining the Next Generation of Crypto Apps with Composability
How many Americans own Stock? (Directly 15%, Indirectly 56%)
