Shaun Maguire and Michelle Bailhe, partners at Sequoia, discuss their long term view and thesis about crypto, what do they look for to invest in a crypto project, the takeaways from the blowup of Terra, the insolvency of crypto companies, and much more. Show highlights:
- what is Sequoia’s long term view and thesis about the crypto industry
- how different our lives will look in 20 years from now due to blockchain technology
- how Sequoia had to adapt to invest in this new asset class and what are the similarities and differences with investing in traditional startups
- when a product or service on the internet should be offered in a decentralized or centralized way
- how Sequoia decides whether to invest in the entity behind a project or in the tokens
- whether having venture capitalists involved at all goes against the ethos of decentralization
- why Shaun believes that Ethereum proved that decentralization can be achieved even when you start being centralized
- whether people underestimate the value that VCs can add to a project
- why Shaun believes that Solana is moving towards decentralization
- Sequoia’s thesis about privacy in crypto and the potential of zero-knowledge proofs
- how Michelle sees the macroeconomic environment impacting crypto and whether this cycle is different from the previous ones
- the importance of product market fit in crypto projects
- what crypto projects should be focusing on and the business model they should be pursuing
- the main takeaways of the Terra collapse and how it was a major setback for algo stablecoins
- how crypto founders should always do the right thing even though there is no clear regulation
- whether SBF is the Berkshire Hathaway of crypto today
- the lessons to be learned from the potential insolvency of some crypto lenders and investment firms
- how demand for blockspace will keep increasing and whether a single blockchain could supply all that space
- the future of the metaverse and how it can be defined
- Michelle’s mental model for crypto and the phases for achieving worldwide adoption
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Beefy Finance: https://beefy.finance/
Ava Labs: https://www.avax.network/
EPISODE LINKS
Shaun Maguire:
Michelle:
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