Origins - Inside Venture Capital, Hosted by a GP and an LP Internet Capital Markets with Kyle Samani
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Nov 12, 2025 
Kyle Samani, Founder and Managing Partner of Multicoin Capital, shares insights on the future of finance and blockchain technology. He discusses how traditional banks may be disrupted by the rise of on-chain trading and the emerging concept of Internet Capital Markets. Kyle explains why he prefers productive blockchains like Ethereum and Solana, and he highlights the potential of embedding trading platforms in everyday media. He also emphasizes the importance of execution over novel ideas and the promise of decentralized finance in reshaping markets.
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From Google Glass Startup To Multicoin
- Kyle discovered Ethereum in 2016 after his first startup failed and dove into the space full-time.
- He launched Multicoin in October 2017 with a hedge fund after the Gnosis ICO convinced him crypto was the opportunity to pursue.
Prefer Productive Protocols Over Fixed Supply
- Kyle says he's financially long but intellectually short on Bitcoin's fixed, unproductive supply thesis.
- He prefers assets like Ethereum and Solana that combine predictable supply with economic productivity.
Internet Capital Markets Defined
- Internet capital markets equal permissionless, 24/7 trading of any asset from any software interface.
- Kyle frames this as applying core internet properties to finance.