VC | E326 | Richard Muirhead, Fabric Ventures on decentralizing the future - Web3 x AI and why does it matter

In this episode of the EUVC podcast, Andreas discusses, with Richard Muirhead, Managing Partner at Fabric Ventures, the transformative potential of Web3 and AI.

Richard shares insights into how these technologies will reshape the internet, the power dynamics between big tech and decentralized communities, and Fabric Ventures' role in this evolving landscape. They also discuss ethical considerations, the development of decentralized finance, and the challenges and opportunities facing venture capital in Europe.

Fabric Ventures is a 125M EUR fund, with 250M under management, anchored in Europe around Paris & Zurich, but investing globally. They are actively investing in WEB3, which has become a global phenomenon, and they have incredible investments in their portfolio so far, such as Sorare, Ramp, Near, Immutable, Polkadot, Flashbots, and many more.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:30 Richard’s Journey into Venture Capital
07:20 The Evolution of the Internet: Web1 to Web3
09:20 The Role of Blockchain and DAOs
14:35 The Intersection of AI and Web3
22:32 Challenges and Opportunities in Web3 Adoption
26:59 Disrupting Centralized Powers with Web3
29:20 The Future of AI and Web3 Integration
33:43 AI Safety and Ethical Considerations
35:28 The Case for Open Source AI
37:19 Challenges of Open AI Systems
37:59 Business Models in Open AI
40:48 Token Economics and Incentives
42:35 Decentralized Systems and Network Effects
50:35 Operational Challenges in Venture Capital
53:57 Building a Successful VC Firm
57:34 Advice for Emerging Managers
01:05:04 Concluding Thoughts on Venture Capital