Avichal Garg, a renowned venture capitalist and founding partner at Electric Capital, dives into the pitfalls of legacy Big Tech and the promising role of cryptocurrency amidst the weakening dollar. He shares his optimism for the AI revolution, discussing its impending impact on our daily lives and the job market. Garg underscores the urgent need for clear regulations in the crypto space to restore trust and tackle fraud. He highlights how innovation in AI should be viewed, questioning whether it can truly create or just repackage existing knowledge.

Nothing tests your conviction like a bear market. This is an opportunity to test what you think you know, refine your thesis, and make your bets for the next leg up. Avichal and Sanjay are long time crypto investors and at VC fund electric capital. What are they betting on during the bear market? We discuss 5 of the most pressing questions facing crypto investors during the bear market including… 1) L2 tokens - Are L2 tokens they worth something or they just worthless governance tokens? 2) AltL1s…Will the ETH killers make a comeback? 3) Multichain world - Millions of L2 chains or a few big winners? 4) Restaking - big deal or overhyped? 5) What Avichal things are this cycle’s alt-coins. Episodes like this are an opportunity to sharpen your insights as a crypto investor. Don’t take these ideas as gospel. Wrestle with them. Test them. Make them your own. We’ll have other Bear Market Bets episodes with other perspectives, so this isn’t the last. ------ 🚀 Join Ryan & David at Permissionless in September. Bankless Citizens get 30% off. 🚀 https://bankless.cc/GoToPermissionless  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2 🦊METAMASK PORTFOLIO | TRACK & MANAGE YOUR WEB3 EVERYTHING https://bankless.cc/MetaMask  ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 👾POLYGON | VALUE LAYER OF THE INTERNET https://polygon.technology/roadmap  ------ Timestamps 0:00 Intro 8:00 L2 Value Capture 15:12 How Rollups Make Money 20:20 Harmful vs. Good MEV 25:00 Transactions Fees & L2s 38:05 Are L2s Valueable? 40:00 Multichain L2s or Few Winners? 43:05 Multichain Applications 49:09 Multichain Friction 59:02 Are NFTs Dead? 1:06:45 Investing in NFTs 1:10:00 RSA’s Worst Fear 1:15:10 Ethereum Killers & Modular/Monolithic Chains 1:19:22 L1s Playing the Monetary Premium Game 1:22:00 RSA vs. Avichal Moneyness Debate 1:24:30 Is Restaking Overhyped? Risky? 1:29:35 Crypto’s Antifragileness & Are We Lost? 1:33:40 Closing & Disclosures ----- Resources Avichal Garg https://twitter.com/avichal  Sanjay Shah https://twitter.com/sanjaypshah  Read https://mirror.xyz/electriccap.eth/SD0wT7qSSfis9gLT_Ki1gY6_oTYEqgwcGE0hDw7kMDY https://www.developerreport.com/developer-report  ------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:  https://www.bankless.com/disclosures⁠ 

Special guest Avichal Garg joins to discuss EigenLayer's airdrop controversy, LayerZero's Sybil strategy, and Robinhood's challenge against the SEC. They predict the future of SocialFi and the impact of VC-backed tokens vs memecoins on the market.

Join Avichal Garg, a partner at Electric Capital focusing on crypto investments, and Santiago Roel Santos from SRS Family Office as they dive into a spirited debate with Ben Sparango of the Solana Foundation about Solana and Ethereum's future-proof potential. They dissect the strengths and weaknesses of each platform, highlighting Ethereum's robust network effects and Solana's superior scalability. They also delve into the challenges of miner extractable value and the evolving preferences in the blockchain landscape.

Michael Anderson, a partner at Framework Ventures specializing in crypto investments, joins Avichal Garg from Electric Capital, known for his expertise in DeFi. They explore Uniswap's Unichain and its potential effects on Ethereum and the DeFi ecosystem. The duo discusses investment strategies in an evolving market, addressing the competition between applications and infrastructure. They also analyze how U.S. politics and upcoming elections could alter crypto regulation, revealing the unexpected impact of stablecoins on national security.