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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
Mar 24, 2023
1/ The US has lost its global lead in crypto & blockchain developers.

This is a policy disaster for the US.

Almost every other region understands the potential of these technologies and how to regulate reasonably.

We see this daily. Amazing founders are leaving the US 👇
2/ In the @ElectricCapital portfolio alone, founders of companies/protocols worth $5B+ have left the US and given up permanent residency.

@solana, @NEARFoundation, @cosmos host their developer conferences outside the US

The center of gravity of @Polygon is in Dubai and India
3/ @binance is the world's largest exchange despite @coinbase having a head start and spending millions on compliance every year

Even well-intentioned projects now block users from the US, North Korea, Iran, and Syria. <-- how crazy is that list?!
Read 9 tweets
Avichal - Electric ϟ Capital Profile picture
Apr 19, 2022
1/ People are surprised to learn @ElectricCapital's team is 68% software engineers and designers

Why does a VC firm need engineers?

Because Crypto will do to TradFi & venture capital firms what the Internet did to retail & media companies.

🧵👇

mirror.xyz/electriccap.et…
2/ When @pmarca wrote "Why Software is Eating the World" he noted every business must become a software business

Software companies deliver better products, have big moats, acquire customers at lower CAC, and have better margins.

To compete, every company must be software-first
3/ Legacy companies had huge head-starts and resources vs. software startups...but they still lost.

@Walmart has not been able to compete against @Amazon.

Newspapers lost to @Twitter and @Facebook.

Why?
Read 17 tweets
Avichal - Electric ϟ Capital Profile picture
Mar 1, 2022
1/ @ElectricCapital has raised $1 billion in new capital, our largest fundraise yet.

The web3 economy built on top of the programmable money stack will be one of the defining disruptions of the 2020s.

Where are we going to invest $1 billion?

mirror.xyz/electriccap.et…

🧵👇
2/ We believe five key trends will define the 2020s:

i) DAOs will empower global communities to allocate resources in new ways

ii) NFTs will form a new asset and infrastructure layer for Web3

iii) DeFi will democratize access to financial products
3/ Five key trends that will define the 2020s continued:

iv) Decentralized Infrastructure will allow engineers to build the next generation of apps without a central point of failure or control

v) Accessible user experiences will onboard one billion users to Web3
Read 6 tweets
Avichal - Electric ϟ Capital Profile picture
Jan 5, 2022
1/ Time for @ElectricCapital's Annual Developer Report:
medium.com/electric-capit…

We analyzed 150m+ repos & xM code commits to produce these 100+ charts.

This was a community effort: 150 people contributed via email and Github! Thank you everyone who helped.

Let's dig in👇
2/ Our methodology:
We focus on open source code, so we undercount total developers in web3.

We focus on unique code and do not count purely copy/paste code.

These are all imperfect measures but directionally useful to understand web3 growth. Feedback is appreciated!
3/ tl;dr - Web3 is at All-Time Highs:
* 18k+ monthly devs
* 2.5k monthly devs in DeFi
* 3k NEW devs touch web3 code each month
* Several emerging ecosystems are growing faster than @Ethereum at the same stage in its history
* 20-25% of new devs each month start on @Ethereum
Read 37 tweets
Avichal - Electric ϟ Capital Profile picture
Sep 4, 2021
1/ Loot is like @ethereum. It has ignited the imagination of a community by giving us some basic primitives.

It is clunky and limiting, but it is a working MVP.

If the community energy persists, it is a BIG breakthrough. It is the first truly community-owned gaming platform

🧵
2/ Quick @lootproject primer for those new to it.

A Loot bag is an NFT that contains text. The bag is a collection of items each with a known rarity -- think @Wizards_DnD, Magic the Gathering, or Pokemon

It is now up to the community what games to build on top of Loot items.
3/ Once you get your head around what it is, you can appreciate @lootproject's significance.

Loot is the 3rd major NFT innovation

1st breakthrough: collectibles (CryptoPunks)
2nd: generative art (@artblocks_io)
3rd: community-owned gaming (@lootproject)
Read 11 tweets
Avichal - Electric ϟ Capital Profile picture
Dec 27, 2020
1/ Some friends and I are trying an experiment:

$400k for 7% on a SAFE, *before* you've picked an idea for a startup

medium.com/south-park-com…

I've done this w/ 3 founders since 2017. 100% of the companies have raised a A and they are worth ~$200M

Details on the $400k👇🧵
2/ @southpkcommons, @rsanghvi, @adityaag, @jubos, @tfmeeks22, and I are coordinating this experiment.

More important than $400k is the South Park Commons community -- 250+ founders, domain experts, authors, researchers, intentionally exploring together: southparkcommons.com/faq
3/ Why are we doing $400k so early, before founders have picked an idea?

We believe the founder(s) are the most important ingredient in startup success.

We also believe some ideas are better than others & that we can help founders orient towards these better markets and ideas
Read 10 tweets

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