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Avichal - Electric ϟ Capital Profile picture
@avichal
Jun 4, 2019 • 7 tweets • 2 min read • Read on X
sec.gov/news/press-rel…

"The SEC charges that Kik sold the tokens to U.S. investors without registering their offer and sale as required by the U.S. securities laws."
Will collect some of the interesting discussions here

The full filing is here: scribd.com/document/41237…
Kik's response: prnewswire.com/news-releases/…

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More from @avichal

Avichal - Electric ϟ Capital Profile picture
May 25
1/ @elonmusk's realization that he can't cut enough govt spending mirrors the insight that led us to go all-in with crypto at @ElectricCapital in 2018.

The simple framework we used to grow from $0 to $3 billion in assets under management is below.

👇
2/ The macro lens: Western govts carry $36 Trillion in US federal debt and face aging populations (or $175 Trillion if you follow @balajis math -- )

The world has flipped from monetary dominance (rates) to fiscal dominance (deficits).

Demographics + debt > Fed tweaks.balajis.com/p/americas-175…Image
3/ There are four exits from a fiscally dominated trap:
a/ Hike taxes (massively)
b/ Slash entitlements
c/ Inflate the debt away
d/ Grow GDP dramatically via tech

There is no way A and B can politically happen in the US.

The only paths forward are C and D.
Read 9 tweets
Avichal - Electric ϟ Capital Profile picture
Feb 9
1/ The 2nd San Francisco gold rush has finally come to an end.

Gone is era of walking into a $200K job at 22 and saving a million by 30.

For decades, a 70th percentile engineer was guaranteed multiple offers as soon as they interviewed in SF.

That era is over. Image
Image
2/ Software engineers were top of the world from 2000-2020

But the easy path to wealth for the median software engineer is over

There were 100k+ people laid off from big tech in 2024, with more layoffs coming. Remote work has globalized salaries, AI is automating more jobs. Image
3/ We saw this in the 80s with traders, 90s with hedge funds, & investment banks prior to 2008.

ChatGPT was the 2008 moment for software engineers. The market regime has forever changed.

But it’s not all bad news — if you’re exceptional.
Read 8 tweets
Avichal - Electric ϟ Capital Profile picture
Jan 29
1/ This screenshot is floating around and I know the back story.

How did a Groupon PM go on to build a supersonic airplane company?

Here is the little-known and tremendously inspiring story of how @bscholl started @boomaero (and my very small part in it)

👇 Image
2/ How Blake started Boom is one of the most inspiring founder journeys I know.

It’s proof of what’s possible if you:

a) Think from first principles

b) Find something you believe in so much that you'd be proud to try - even if you might fail (a Blake quote)
3/ I’ve known Blake since I was 13.

He ran an ISP in high school and gave me my first job writing a JavaScript menu for a website gig he had.

Look at this high school photo and tell me that doesn't scream future founder? Image
Read 25 tweets
Avichal - Electric ϟ Capital Profile picture
Jan 23
🚨1/ President Trump just issued a MAJOR executive order that touches on everything crypto.

This is a BIG deal: stablecoins, Operation Chokepoint, developer protections, a new Crypto Task Force, and a Digital Asset Strategic Reserve

A breakdown of what @realDonaldTrump signed:
2/ Protecting economic liberty

Americans are guaranteed the right to:
Use open blockchains without fear of persecution.

Self-custody digital assets.
Develop and transact freely.

This directly counters tactics like Operation Chokepoint
3/ Promoting the dollar through stablecoins

The order prioritizes the growth of dollar-backed stablecoins to ensure the U.S. dollar remains the backbone of global commerce.
Read 12 tweets
Avichal - Electric ϟ Capital Profile picture
Dec 13, 2024
There were several new sections in the @ElectricCapital Developer Report this year, beyond the high level developer stats

I'm highlighting a few below, segmented by area of interest (NFT, DeFi, Stables, L1s, Geography) for ease of access

👇 Image
Where is on chain innovation happening? Who writes the most new, unique code? From @0xren_cf

What's happening with NFTs? Are NFTs dead? Which ecosystems are working and which behaviors are scaling? From @kateli_nyc

Read 7 tweets
Avichal - Electric ϟ Capital Profile picture
May 22, 2024
1/ The US House is voting on FIT 21 today.

Biden just said he wants comprehensive crypto regulations.

Time for another explainer thread.

+ What is FIT21?
+ Why is this bill important?
+ What does FIT21 tell us about shifting political alliances and power in the US?

🧵👇 Image
2/ What is FIT21?

FIT21 is the "Financial Innovation and Technology for the 21st Century Act"

You can read it here:

FIT21 is the 1st bill that tries to comprehensively define how the crypto market should be regulated in the USrules.house.gov/bill/118/hr-47…
3/ FIT 21 has a few key areas and provisions:
+Delineates when SEC or CFTC has jurisdiction
+ Consumer protections around transparency and disclosures for promoters and endorsers
+ Prohibits agencies from preventing people from using crypto
+ Asks Treasury to study stablecoins
Read 16 tweets

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