The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Why Market Matters So Much More Than Founding Team | Why Crypto Investing is Less Collaborative Than Ever | Why Bitcoin is Not a Hedge Against Inflation | Why Solana Will Beat Ethereum | The Network Effects You Need To Understand with Kyle Samani, C
Jul 22, 2022
Kyle Samani, Co-founder of Multicoin Capital and a former healthcare startup founder, shares his insights from the crypto landscape. He discusses the decreasing collaboration in crypto investing and the challenges facing token issuances. Samani argues against temporal diversification and emphasizes a no reserves model for crypto portfolios. He explains why he believes Solana will outperform Ethereum, while revealing the misconceptions about Bitcoin as a hedge against inflation. His deep dive into network effects also sheds light on critical growth strategies.
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From Healthcare to Crypto
- Kyle Samani's healthcare startup, Pristine, built software for Google Glass for surgeons.
- After Google discontinued Glass, he pivoted and eventually the company was acquired.
Tokens as Assets
- Tokens are assets that can be priced and valued, similar to gold which lacks a DCF.
- While many crypto assets don't have a clear DCF, down the CoinGecko list, most should have one.
Token vs. Equity Value Accrual
- Avoid investing in companies where both tokens and equity accrue value.
- These often conflict, similar to diverging interests in preferred equity and common stock.