Forget VC: Founders Turn to "Internet Capital Markets" | Internet Explorers Ep. 80

Will the concept of "Internet Capital Markets" reshape how founders raise capital?

This episode explores the implications of platforms like Believe, which enable app developers to bypass traditional VC funding. Featuring guest co-host Jarrod Dicker, the discussion delves into the challenges and opportunities of this new paradigm, including the tension between short-term speculation and long-term value creation. The conversation examines the evolving dynamics between founders, investors, and users in the crypto ecosystem, and considers how consumer crypto apps might redefine the role of blockchain platforms in the future.

This episode unpacks

• How "Internet Capital Markets" might redefine fundraising
• Believe's app-store-style token launch approach
• Tokenomics: bonding curves, AMMs, and "quote pair" models
• Speculator demand versus compounding network value
• Lessons from 2017 ICOs and current regulatory gray areas
• Retail token buyers as long-term investors—or not
• The extraction dilemma in high-velocity markets
• Stablecoins and RWAs as on-ramps to mass adoption
• B2B integrations fueling broader crypto consumer apps
• Designing token incentives for emotional engagement

Chapters:

0:00 — Intro: Bullish outlook on crypto space

5:21 — Internet Capital Markets and token launchers

10:57 — Challenges of expanding the crypto buyer pool

16:14 — Balancing consumer needs with blockchain expectations

21:54 — Potential of micro-transactions in crypto products

27:22 — Impact of consumer crypto apps on market dynamics

32:09 — B2B as gateway for broader consumer adoption

37:55 — Importance of expanding beyond existing crypto users

43:52 — Metrics and transparency in crypto companies

50:40 — Consumer apps challenging L1/L2 blockchain narratives

56:48 — Speculative demand as driver for new users

1:02:16 — Optimism for crypto space despite regulatory challenges

Internet Explorers is a weekly rundown show where extremely online individuals broadly explore (romanticize, even) new consumer Internet experiences.

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