New Angles on Crypto - Kyle Samani and Tushar Jain - [Invest Like the Best, EP.92]

My guests this week are Kyle Samani and Tushar Jain, both managing partners at Multicoin Capital. I’ve taken a bit of a break from crypto because I hadn’t sensed many new angles to explore in this forum, from an investor’s point of view. I felt that while things keep evolving, the major investment theses have been established and explored. Kyle and Tushar are interesting because of their often divergent views. For example, Kyle has been an outspoken supporter of Ethereum relative to bitcoin. This conversation, which is meant for those still curious about crypto, offers lots of new food for thought. We discuss smart contract platforms, network effects, the coming platform wars, and why blockchains may not matter in ten years. Please enjoy my conversation with the partners of Multicoin Capital. Hash Power is presented by Fidelity Investments For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Links Referenced Paths to Tens of Trillions An (Institutional) Investor’s Take on Cryptoassets On the Network Effects of Store Value If SaaS Products Sell Themselves, Why Do We Need Sales? Money, blockchains, and social scalability Nakamoto Institute Token Economy Multicoin.capital Crypto Cannon Show Notes 2:11 - (First Question) – What would get the entire cryptocurrencies ecosphere to 5-10 trillion dollars 2:53 – Paths to Tens of Trillions 4:37 – What will be the effective uses for crypto currencies, store value vs utility value 4:38 – An (Institutional) Investor’s Take on Cryptoassets 8:48 – Why they are negative on bitcoin and more positive on Ethereum 10:07 – Where will start to see widespread adaption of the utility value of cryptocurrencies 14:44 – What is the major breakthrough that cryptocurrencies create 21:21 – How do we gain confidence that a utility token will become a sound investment 25:16 – The different type of network effects 25:47 – On the Network Effects of Store Value 31:18 – How do you convince institutional investors to consider the crypto space 34:21 – Factors that they care about when first evaluating a crypto currency 39:21 – How does technological development and marketing factor into their decision when picking a crypto currency 40:31 – If SaaS Products Sell Themselves, Why Do We Need Sales? 41:42 – Where these two men disagree the most right now 44:07 – Why there’s a chance blockchain technology as we know it today could be irrelevant 44:25 – Money, blockchains, and social scalability 47:56 – Most compelling trends in this world today 51:51 – A favorite resource or person people can look into if they want to learn more 52:22 – Nakamoto Institute 52:57 – Token Economy 53:24 – Multicoin.capital 53:30 – Crypto Cannon 54:14 – Kindest thing anyone has done for them Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag