Rethinking Valuation Metrics in the Crypto Market

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The chapter explores the shift in the crypto market away from traditional valuation metrics like PE ratios towards a focus on attention and narrative. It delves into how community engagement and market momentum are driving investor decisions, contrasting the approaches of retail investors and traditional funds. The conversation discusses the importance of education, the role of VCs in innovation, and challenges posed by regulatory constraints in the crypto space.

✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-the-regan-bozman-interview

------ Today we explore the frontier of Venture Capitalists vs Retail Investors, are they at war? That’s exactly what we debate on the show with crypto writer and VC Regan Bozman.

Lots of questions to be asked on this episode: - Is crypto experiencing an identity crisis? - Are memecoins a reaction to VCs - Why is the current wave of Airdrops broken?. - Is attention more important than fundamentals? - Where do we go from here?

It’s about time to gain some clarity into what’s really happening in the crypto space.

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------ TIMESTAMPS

0:00 Intro 6:10 Crypto Identity Crisis 17:15 Stories 25:18 Terminal Liquidity 20:14 VCs vs Retail 38:33 Token Sales 46:22 Airdrops 52:27 The Attention Economy 1:02:03 Solutions 1:09:31 Regulatory Hurdle 1:12:28 The Weirdness of It All 1:14:41 Memecoins 1:16:17 Where do we go from here?

------ RESOURCES

Regan on X https://twitter.com/reganbozman

Regan on Farcaster https://warpcast.com/regan

Regan Thread https://twitter.com/reganbozman/status/1776293611036197059

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠