ACQ2 by Acquired Managing a Crypto Fund (with Kyle Samani from Multicoin Capital)
Jul 22, 2021
Kyle Samani, co-founder of Multicoin Capital, shares insights from one of the leading crypto investment firms. He discusses their three key "mega-theses" and the innovative structures behind their hedge and venture fund. The conversation dives into the challenges of decentralized finance (DeFi) and the revolutionary Helium network, which empowers personal internet hotspots. Samani also explores social tokens and their potential to meld financial value with community identity, plus the complex dynamics of managing a crypto fund in a fast-evolving market.
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DeFi Innovation
- DeFi's core innovation is making financial assets interoperable and composable.
- This allows for rehypothecation and capital efficiency previously impossible.
DeFi's Casino Nature
- Current DeFi systems are circular, resembling a casino where speculation drives token value.
- Bridging DeFi to real economic activity requires easier on and off ramps.
DeFi Saturation
- DeFi is no longer the best place for exceptional returns.
- Valuations are too high and there are too many competitive startups.