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Connor, Mahesh, Santi, and Jason are joined by Amir Haleem of Helium to explore the evolving landscape of decentralized networks. They dive into Helium’s impressive revenue growth - from $400K to $2.7M per month - driven by its mobile subscriber base, and discuss the complexities of blending off-chain and on-chain revenue. The conversation covers tokenized equity, sustainable business models beyond token sales, and the convergence of crypto with traditional finance. Amir shares how Helium has shifted from a crypto-first approach to prioritizing service delivery and user satisfaction, offering key lessons in product distribution, user retention, and innovative tokenomics.
Timestamps:
00:00 - Introduction
02:25 - Microstrategy and Digital Asset Accumulation
03:42 - Market Trends: Crypto and Wall Street
05:03 - Santi's Perspective on Market Efficiency
06:19 - DePIN Projects and Public Market Strategies
06:41 - Helium's Potential for Going Public
08:50 - Cash Flow and Tokenomics in DePIN
12:07 - Helium's Recent Revenue Growth
12:55 - PMF for DePIN Networks
18:03 - User Engagement and Helium's Growth
19:05 - Helium's Revenue Sources Explained
21:06 - Convergence of Off-Chain and On-Chain Revenue
24:12 - Learning from Helium's Evolution
25:03 - Focus on Distribution Over Product
27:27 - Daily Active Users and Their Interaction
31:26 - Valuable Users and Helium's Ecosystem
33:45 - Cloud Points and User Experience
36:44 - Retention Curves: Crypto vs. Traditional Users
39:59 - Aligning Token and Equity Interests
Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.
