Lightspeed Crypto Needs More Product, Investing In Great Founders | Craig Burel
Mar 12, 2024
A discussion with Craig Burel on his journey into crypto, investing in Solana, building consumer products, backing great founders, investing in SOL vs applications. Topics include crypto gaming, token incentives, finding product-market fit, and the convergence of traditional finance and DeFi.
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Early Bitcoin Skepticism
- Craig Burel's colleague tried to convince him of Bitcoin's potential early on.
- Initially skeptical, Burel later recognized the potential of Ethereum and smart contracts.
Ethereum's Potential
- Burel's "aha moment" with crypto came when he learned about Ethereum.
- He realized the potential of a shared compute database and building new protocols on smart contract platforms.
Discovering Solana
- Reciprocal Ventures invested in 0x and Radar Relay, leading to a meeting with a large quantitative hedge fund.
- This meeting highlighted Ethereum's limitations regarding fees and throughput, prompting the search for alternatives like Solana.