Michael Egorov: Yield Basis - Bringing Real Yield to Bitcoin

Join Tommy Shaughnessy as he speaks with Mike McCormick, founder of Halcyon, about the urgent intersection of AI acceleration and safety. Mike shares his path from venture capital to launching a hybrid nonprofit–fund model focused on securing advanced AI systems. They dive into mechanistic interpretability, global competition for AGI, and what a safe superintelligence future could look like. Can we build superintelligence safely? How do we balance innovation with existential risk? And what happens to humanity when AGI arrives?Halcyon Futures: https://halcyonfutures.org🎯 Key Highlights▸ Leaving VC to focus entirely on AI safety and security▸ Why Halcyon flipped the model: nonprofit first, fund second▸ Multi-layered “defense in depth” approach to AI biosecurity & cyber risk▸ The acceleration vs. safety debate — finding middle ground▸ Good Fire case: career grants into interpretability research▸ The 2×2 dilemma — speed vs. slowdown, centralization vs. decentralization▸ U.S.–China dynamics and fast takeoff scenarios▸ AI underwriting: how insurance can drive safety standards▸ Founder-market fit and mission orientation in AI startups▸ Risk, diffusion, and the uncertain path to AGI💡 Subscribe for more crypto & infrastructure insights! 🔔🧠 Follow the Alpha▸ Mike's Twitter: @MikeMcCormick_▸ Halcyon's Twitter: @HalcyonFutures🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Mike’s background & pivot to AI safety03:00 — The realization: AGI could change everything05:00 — Why VC wasn’t enough to solve the problem06:00 — Halcyon’s hybrid model and early mission08:00 — AI security concerns: misuse, bio, and control12:00 — Defense in depth: pre-training → deployment15:00 — The creativity vs. restriction trade-off17:30 — Pause AI vs. Build Baby Build20:00 — Speed vs. centralization: the 2×2 framework24:00 — Good Fire: career grants & interpretability27:00 — Writing to neurons: alignment and insight30:00 — How insurance markets can enforce safety36:00 — Mission-driven founders & conviction filters44:00 — Geopolitical race: U.S., China, and compute50:00 — Diffusion limits, adoption, and energy costs57:00 — Mass unemployment and meaning after AGI01:05:00 — What “winning” AGI means for humanity01:12:00 — Critical thinking, sycophantic AI, and engagement traps01:20:00 — UBI, adaptation, and new work paradigms01:30:00 — Three AGI futures: scale, shift, or stall01:36:00 — 20% catastrophic risk & asteroid analogy01:40:00 — Final message: talent is upstream of everythingDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast.

9 Okt 1h 42min

Join Ashwath Balakrishnan and Neel Daftary as they explore the future of DeFi infrastructure with Connor Howe, co-founder of Enso. After nine years of building in crypto, Connor has created what he calls "the shortcut to building on-chain applications" - a developer tool that abstracts away the complexity of integrating with hundreds of DeFi protocols. From powering Berachain's $3.1 billion launch to enabling developers to reduce build times from seven months to just days, Enso is positioning itself as the Unity engine for Web3.Enso: https://www.enso.build🎯 Key Highlights▸ Connor's nine-year journey from writing Solidity in Mist Wallet to building crypto infrastructure▸ How Enso powered Berachain's $3.1 billion DeFi launch behind the scenes▸ Reducing developer build times from 7 months to 1.5 days through abstraction▸ Why crypto needs more apps (4,800) than blockchains (1,000+) for mass adoption▸ The "fat engine thesis" - how abstraction layers will control blockchain routing▸ Enso's upcoming network model: action providers, grafters, and validators▸ The "Enso Drop" - accessing 370+ potential airdrops through network participation▸ Security through simulation: 4ms response times vs industry standard 2.6 seconds▸ Chain abstraction vs. application abstraction: the real path to user adoption▸ Why product beats paper in crypto's current critical juncture💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Connor's Twitter: @connor_enso▸ Enso's Twitter: @EnsoBuild🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Intro: Connor Howe, Enso co-founder01:15 — Nine years building in crypto: from Bitcoin to Ethereum03:00 — Early DeFi development challenges and the birth of Enso05:00 — Chain abstraction vs. application abstraction philosophy08:30 — Serving 8% of Web3's developer mindshare (2,250+ developers)11:00 — Berachain's $3.1B launch: Enso's behind-the-scenes role13:15 — AI agents, automation, and new use cases emerging15:00 — Reducing build times: from 7 months to 1.5 days case study17:30 — Security through simulation: 4ms response times21:30 — Why we need products people actually want to use23:15 — New developer onboarding trends and product directions26:30 — The Enso Network: action providers, grafters, validators30:00 — Self-service protocol integration and scalability33:00 — Enso vs. Yearn comparison and strategy differences35:15 — Network economics and fee distribution mechanisms39:00 — Upcoming TGE and token utility design41:00 — The "Enso Drop": accessing 370+ protocol airdrops42:00 — Developer relations strategy: YouTube, universities, incubators45:15 — Keeping developers away from crypto Twitter for innovation47:15 — Fat protocols vs. fat apps: the abstraction layer thesis51:30 — "Product beats paper" - crypto's critical junctureDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

26 Sep 53min

Join Alex Golding as he sits down with Austin Federa, Co-founder of DoubleZero, to explore how they're building permissionless high-performance fiber infrastructure that could revolutionize blockchain performance. Austin shares the technical vision behind creating a parallel internet for distributed systems, starting with Solana validators as their initial market.DoubleZero: https://doublezero.xyz🎯 Key Highlights▸ The internet bottleneck: why high-performance blockchains are hitting infrastructure limits▸ Building a parallel internet with dedicated fiber, FPGAs, and multicast technology▸ Proof of utility: weaponizing greed and capitalism for positive-sum network outcomes▸ 16% of Solana network already running on testnet despite limited infrastructure▸ Technical deep-dive: signature verification, packet deduplication, and jitter reduction▸ Token economics and bandwidth contribution models vs traditional staking▸ Long-term vision: replacing IP addresses with public-private key routing💡 Subscribe for more crypto & infrastructure insights! 🔔🧠 Follow the Alpha▸ Austin's Twitter: @Austin_Federa▸ DoubleZero's Twitter: @doublezero🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Intro: Austin Federa and the internet bottleneck problem02:00 — Building a parallel internet for distributed systems06:00 — The Firedancer project and million TPS potential09:15 — Technical architecture: fiber, FPGAs, and multicast technology13:30 — Signature verification and packet deduplication explained17:15 — Proof of utility: Shapley values and economic incentives23:45 — Validator onboarding and network connection process29:30 — Testnet success: 16% of Solana network adoption33:15 — Latency, jitter, and bandwidth improvements explained39:00 — Token economics: 2Z token and payment models44:45 — Access models vs staking requirements for enterprises51:30 — Validators.app badges and network transparency59:15 — Governance roadmap: from mainnet beta to full decentralization01:05:45 — Long-term vision: replacing IP addresses and DNS01:09:15 — Lightning round: most misunderstood aspects01:12:30 — Five-year vision: parallel internet for high performance systemsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast.

25 Sep 1h 15min

Join José Maria Macedo as he co-hosts with Matt O'Connor from Legion and Filip Wielanier from Cookie3 to explore "Attention Capital Markets" - revolutionizing token distribution by linking social influence with capital commitment. Fresh off Legion's funding from VanEck and Brevan Howard, discover how they're moving beyond airdrops to merit-based investing that rewards genuine community builders.Legion: https://legion.ccCookie3: https://www.cookie3.com🎯 Key Highlights▸ Legion's funding: VanEck and Brevan Howard backing crypto innovation▸ Attention Capital Markets: Linking mind share with financial commitment▸ Cookie3's attribution tech: Measuring on/off-chain value creation▸ Merit-based token distribution vs "whoever pays most"▸ Almanac case study: 400% oversubscribed using attention metrics▸ Retail investor access beyond accredited gatekeeping▸ IPO/ICO convergence on-chain infrastructure▸ Data-driven distribution with Web2 sophistication▸ Fighting airdrop farmers with genuine supporter identification▸ SEC progress toward disclosure-based regulation▸ Creator monetization through tokenized influence▸ Mobile-first social trading infrastructure💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Matt's Twitter: https://x.com/mattytokenomics▸ Filip's Twitter: https://x.com/fwielanier🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 - Introduction and Legion funding announcement01:15 - Matt O'Connor: TradFi to crypto token design03:00 - Filip Wielanier: Cookie3's attribution mission04:30 - Capital attribution in Web3 vs Web207:30 - Attention Capital Markets explained09:00 - MicroStrategy analogy: Money where mouth is11:00 - Almanac presale implementation13:30 - Legion scoring and merit-based selection16:00 - Current ICO problems17:30 - Merit-based investing vision21:00 - IPO/ICO convergence outlook25:00 - Market effectiveness through tokenization28:45 - Information markets and creator influence32:30 - SEC regulatory progress37:00 - Regulation compliance concerns40:30 - Retail protection vs access43:00 - Project funding selection problems45:30 - Pseudonymous contributors vs VCs48:00 - "Nanny state" and risk-taking52:30 - Cookie3 roadmap54:30 - Proof of humanity considerations55:30 - Cooperative network ownership58:00 - Platform locations59:30 - Closing thoughtsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

19 Sep 1h 6min

Join Tommy Shaughnessy as he sits down with Mike Dudas, Managing Partner at 6th Man Ventures, to discuss one of the most successful seed investments in crypto history. Mike shares the inside story of backing Pump.Fun years before it became a cultural phenomenon, generating over $800 million in fees and reaching a $5.5 billion FDV. From cold DMs to billion-dollar outcomes, this conversation explores venture capital strategy, founder evaluation, and navigating the intersection of AI and crypto investing.6th Man Ventures: https://6thman.ventures🎯 Key Highlights▸ The untold story of Pump.Fun's seed round: from cold outreach to billion-dollar success▸ Why regulatory risk-taking paid off in the Trump administration▸ How to evaluate crypto founders differently than traditional startups▸ The creator economy revolution: streaming meets tokenomics▸ Digital Asset Trusts (DATs): the new MicroStrategy wave▸ AI's impact on venture capital processes and decision-making▸ Why attention spans are killing crypto Twitter's excitement▸ From Bonk to Pump: lessons in meme coin investing▸ Building conviction in contrarian bets during bear markets▸ The importance of speed and decisiveness in early-stage investing💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Mike's Twitter: @mdudas▸ 6MV's Twitter: @6thManVentures🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Intro: Mike Dudas, 6th Man Ventures00:30 — The Pump.Fun origin story: cold outreach and magical moments03:45 — Regulatory risk-taking and the Trump administration impact06:30 — Why other VCs backed out over legal concerns08:15 — Being hands-on with portfolio companies without being pushy10:30 — Pump.Fun's evolution: from bonding curves to creator streaming14:00 — The Bonk vs Pump competition and market dynamics17:00 — How AI and AGI are changing venture capital investing20:15 — Digital Asset Trusts: the new wave of crypto investment vehicles26:00 — Why crypto Twitter seems less excited despite regulatory clarity32:15 — Using AI in venture processes: market research and founder support38:45 — The most common path from DM to investment42:00 — Founder evaluation: red flags and green flags47:15 — When to tell portfolio companies it's time to move on51:15 — Decision-making under pressure: the "hell yes" principle54:00 — Staying entrepreneurial as a fund grows and succeedsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

15 Sep 56min

Anil Lulla and Yan Liberman host Sapijiju, co-founder of Pump.fun. Sapijiju shares Pump.fun’s bigger vision: beyond meme coins, it’s aiming to be the most rewarding social platform, revolutionizing creator monetization, and building a $2B-backed financial ecosystem.Pump.fun: https://pump.fun🎯 Key Highlights▸ Pump.fun’s vision: TikTok + Robinhood + Twitch in one▸ Streamers earning 100–300x more than on traditional platforms▸ 9 failed products before finding product-market fit▸ Why most crypto firms are just riding Bitcoin▸ New fee model: $2.4M to creators on day one▸ Mobile-first: beating desktop crypto apps▸ $2B balance sheet for smart capital moves▸ 100% revenue buybacks (Hyperliquid/Binance playbook)▸ Roadmap: stablecoin + full financial stack▸ Young founders vs. traditional finance▸ Why social media’s incentives are broken▸ Targeting 16–24s ignored by incumbents▸ Stats: 70 staff, $1.6B locked, billion+ daily volumes▸ Aggressive M&A, Facebook-style💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Sapijiju's Twitter: @sapijiju▸ Pump.fun Twitter: @pumpdotfun🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 – Intro & Sapijiju’s crypto journey04:45 – 9 failed products → Pump.fun success07:15 – Product-market fit & anti-rug mechanism09:15 – Scaling team to 7010:30 – Vision: social trading super-app13:00 – $2.4M to streamers on launch day14:15 – Why social platforms fail creators16:45 – 300x better monetization18:15 – DMs, streaming & mobile-first19:30 – Competing vs. Coinbase/Binance21:45 – User patterns: TikTok + finance24:30 – Network effects via creator rewards26:30 – $500k creator starter kits28:00 – Mobile strategy for viral growth29:15 – Zora vs. Pump.fun (content vs. coin)31:15 – Small changes → 5x streaming growth33:30 – Sandbox for creator freedom35:15 – Telegram + crypto-native tools36:30 – Democratized ICOs38:15 – $1.6B locked, billion+ daily volumes39:15 – Stablecoin vision40:15 – Long-term: global takeover42:30 – $2B balance sheet strategy44:30 – ROI-driven capital deployment45:15 – M&A playbook46:15 – DAT & institutional access47:15 – Revenue buybacks model49:15 – VCs missing meme culture51:15 – Story Protocol critique53:30 – Meme coins vs. infra “scams”54:30 – Generational wealth cycles57:45 – Crypto as last frontier59:15 – TradFi as modern slavery1:01:30 – Black Mirror & moderation1:02:30 – Mobile growth engines1:03:30 – Scaling to $200M daily revenue1:04:30 – Post-token comms lessons1:05:30 – Open DMs & next episode1:06:15 – Closing thoughtsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

8 Sep 1h 6min

Join Tommy Shaughnessy as he hosts Pondering Durian (Lead at Delphi Intelligence) and José Macedo (Co-Founder at Delphi Labs & Founding Partner at Delphi Ventures) to introduce Delphi Intelligence — Delphi’s new open research initiative focused on artificial intelligence. Learn why Delphi is going deep into frontier models, robotics, reinforcement learning, and the intersection of crypto and AI, and how this initiative aims to uncover transformative opportunities across emerging tech.Delphi Intelligence: https://www.delphiintelligence.io/🎯 Key Highlights▸ Why Delphi pivoted to AI after years in crypto research and investing.▸ Inside Delphi Intelligence: free, high-quality research on AI, RL, robotics, and more.▸ How the team blends deep research with deal sourcing — like early crypto days.▸ The three phases of AI scale: pretraining, inference, and the RL renaissance.▸ José and PD on decentralizing RL and building “The World’s RL Gym.”▸ The case for open AI: modular design, public reasoning, and collaboration.▸ How LLMs are learning to “think longer” — and what it means for training.▸ Open-source vs. proprietary AI — and China’s growing lead in open models.▸ Why José believes AGI may already be here with GPT-4o.▸ Where early AI startups can still win — from robotics to edge hardware.▸ Why this AI moment feels like crypto in 2017 — and why it’s still early.▸ The team’s views on AI safety vs. acceleration, including visits to Anthropic.▸ A geopolitical view: US vs. China in AI, talent flows, and capital differences.▸ What the next “Mag 7” of AI could be — and why Big Tech might not lead.▸ How Delphi plans to find early winners in AI, like they did in crypto.💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Delphi Intelligence's Twitter: @delphi_intel▸ PD's Twitter: @PonderingDurian▸ José's Twitter: @ZeMariaMacedo🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 - Introduction to Delphi Intelligence01:30 - Why AI Feels Like Crypto in 201703:30 - The AI Research Gap Delphi Aims to Fill06:30 - Robotics Deep Dive: Humanoids vs. Specialization10:00 - AI’s Impact on Traditional Tech Moats14:30 - Can the Mag 7 Be Disrupted by AI Labs?17:00 - Google, Meta, OpenAI, and the Race for Interface21:00 - Crypto as a Hedge Against AI-Driven Inequality24:00 - Safety vs. Acceleration: Anthropic vs. OpenAI28:00 - China’s Open-Source AI Strategy31:30 - Zero-to-One vs. One-to-X Innovation Models35:00 - Open-Source Models: Strategic or Suicidal?38:00 - Early-Stage Edge: Where Startups Can Win42:00 - Verticalized AI Apps, Context Engineering, and GPTs46:00 - US vs. China in Robotics: Software vs. Hardware50:00 - The Role of Simulation, Sensors, and Real-World Feedback53:00 - Delphi’s Dual Approach: Deep Research + Early Deal Flow55:00 - The Vision for Delphi Intelligence 10 Years OutDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

21 Jul 57min