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Avichal - Electric ϟ Capital Profile picture
@avichal
Jun 21, 2019 • 3 tweets • 1 min read • Read on X
Thought experiment: Which organizations could have launched Libra and been loved by the public and welcomed by regulators?

My top 3: Apple, Costco, Starbucks
Also, part of my thought process is having physical locations with lots of foot traffic means people can get cash in/out of the system very easily, which is a huge strategic advantage.
and Starbucks could just call their token StarBucks!!!

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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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