Talking Tokens
Tom Schmidt | Evaluating & Finding Opportunities in Crypto Startups
Aug 8, 2024
Tom Schmidt, a general partner at Dragonfly Capital and former product manager at Instagram, dives into the world of crypto startups. He shares insights on trends in decentralized finance and consumer applications, emphasizing the user experience. The conversation highlights regional differences in crypto innovation, notably between Western and Asian markets. Schmidt discusses the impact of regulation on opportunities and advises on navigating the evolving venture capital landscape. He also reveals valuable lessons from his investments and the qualities needed in successful founders.
45:07
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Quick takeaways
- Tom Schmidt emphasizes the importance of a global marketing strategy in crypto investments, particularly recognizing the influence of Asian markets.
- The podcast highlights a shift in venture capital towards early-stage investments, focusing on product utility and user engagement instead of formal investment theses.
Deep dives
Journey into Venture Capital
Tom Schmidt outlines his unique path to venture capital, highlighting his academic background in computer science and early career experiences in product management at Instagram. His reintroduction to crypto stemmed from rediscovering the space through connections like Hunter Horsley from Bitwise, ultimately leading him to product leadership at ZeroX. At Dragonfly Capital, he was attracted to the firm's global approach, recognizing the importance of Asian markets in the crypto narrative. With offices in both New York and Singapore, Schmidt emphasizes that crypto is a global story that requires a worldwide marketing strategy for success.
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