/ Insights
The best way to capture alpha as an investor is to create it. Private equity firms have practiced this for decades: groups like TPG acquire businesses and devote significant management resources to improving the business prior to selling.
On October 5, 2018, Yale, the iconic long-term investor that other endowments look to for guidance, made a historic investment in two funds dedicated to crypto, signaling to many that institutional floodgates are officially open.
Today I’m extremely excited to announce that we led a $9.65M investment round in SKALE.
Today I’m very excited to unveil a secret project that some people inside of Multicoin have been working on for a few months: Aurora EOS.
/Debunking Market Narratives: Litecoin ($LTC) Edition
Narratives are an immensely powerful tool, so much so, that experts generally attribute civilization’s rapid development to humans’ ability to efficiently tell stories. Due to their impact on human behavior, narratives can significantly affect our perception of value. In the current crypto market climate, reality is often overlooked in favor of narrative propagation. As such, it is important to evaluate the accuracy of popular beliefs, and separate the signal from the noise.
/Token Curated Registries: Features and Tradeoffs
Token Curated Registries (TCRs) are an idea that gained a fair amount of traction within the cryptocurrency community throughout late 2017 and early 2018. While the idea has yet to be implemented at any meaningful scale, there are a few TCRs live on the Ethereum mainnet and over a dozen projects are considering building TCRs in some form.
/Aggregation Theory, Thin Protocols, and Recentralization: Augur Edition
Joel Monegro of PlaceholderVC wrote Fat Protocols in 2016. Based on the data at the time – specifically that Union Square Ventures would have generated higher returns by simply buying and holding Bitcoin rather than investing in each of Coinbase’s funding rounds – the fat protocols theory made sense.
I have yet to see an actual illustration of the Web3 stack. So this is an attempt. Given how expansive the Web3 ecosystem is, this diagram is almost certainly incomplete, and likely has a few inaccuracies.
/Podcast: Tushar and Kyle on Invest Like the Best Podcast With Patrick O'Shaughnessy
Kyle and I recently joined Patrick O’Shaughnessy on the Invest Like the Best podcast. Patrick is a great interviewer who approaches this space with a skeptical investor’s mindset.
/Multicoin Summit: the State of Dapp Development
At the Multicoin Summit, we had the good fortune of bringing together entrepreneurs who’re building both dapp infrastructure and actual dapps to discuss the state of dapp development.