Empire

What It Takes To Build In Crypto | Stani Kulechov & Jack O'Holleran

Mar 24, 2025
Stani Kulechov, founder of the leading DeFi protocol Aave, and Jack O'Holleran, founder of Scale Labs, dive deep into the intricacies of building in the crypto landscape. They contrast the challenges of Web 3 versus Web 2, emphasizing the significance of long-term vision and community engagement. The duo also discusses the dual nature of tokens and the need for collaboration in a multi-chain ecosystem. Their insights include strategies for effective fundraising and the importance of balancing innovative goals with community expectations in this rapidly evolving industry.
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ANECDOTE

Empire's Pilot Episode

  • Jason Yanowitz launched the Empire podcast solo but struggled to gain listeners.
  • He strategically invited Stani Kulechov and Santiago Santos onto a "pilot" episode, ultimately leading Santos to become his co-host.
INSIGHT

Iteration in Crypto

  • Building crypto companies requires iterating on products and finding what users like, which can take years.
  • Stani Kulechov's experience with ETHLend pivoting to Aave exemplifies this.
INSIGHT

Web2 vs. Web3 Founding

  • Building in crypto presents unique challenges compared to Web2.
  • It combines traditional company building with tokenomics, decentralization, and community management, demanding expertise in multiple areas.
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