Thread by @otisa502

1/13 MARK (@MarkYusko): “I do get angry about this, because the average person has everything stacked against them, the average investor has everything stacked against them, from accredited investor rules, to the inability to access talent, to the inability to access the best

2/13 “assets in the private markets. They can't get into Sequoia and Kleiner and all the great venture capitalists. They have no chance to be involved in private real estate or private energy, except in crypto. #Bitcoin is a venture capital investment; it is a D round

3/13 “of a late-stage venture capital investment. Why? Because if I want to own Amazon — Amazon is not a company, Amazon is a network. Amazon doesn't make anything, they are a search engine; they match buyers and sellers and they take a cut, and they take a very large cut.

4/13 “A friend of mine bought this company called Lock Laces. It's the thing that runners use to slide down their shoelaces so they don't have to tie them. He bought it, and he went to Amazon and said I want to sell on Amazon. They said, OK, we take 45% of revenues. He said

5/13 “what, 45%? No way. Then you're not on. He was like fine. And it was a good thing, because his sales went up 10X, so he made 5 times more by putting it on Amazon. They are an unbelievable network. But a network grows, according to Metcalfe's law, and it grows exponentially.

6/13 “So the most valuable companies in the world today are networks: Amazon, Apple, Facebook. Those are not companies, they're networks. #Bitcoin is a network. It is the fastest network to $100 billion ever in history; it's the fastest network ever in history to

7/13 “$1 trillion; it will be the fastest network to $10 trillion, and then $100 trillion. What people don't understand is how exponential math works. If I say to everybody on the call, what's 2 times 2? 4. Easy. What's 17 times 23? I'll wait. That's the limit of human

8/13 “intelligence. The average person cannot do that in their head, they need a calculator. So what if I say, how about nonlinear regression? How about parabolic exponential growth? Probably not good at that. And I use this example all the time: If I take 20 steps across

9/13 “the office, I'm in the other side of the office, linear steps, 20 linear steps, other side of the office. If I take 20 exponential steps, I go around the world twice. And that's the beauty of being able to invest in the protocols themselves, which are venture capital

10/13 “investments; you can own them no matter what your net worth, you can own them directly, you can own them in fractional pieces, you don't have to own a whole #Bitcoin, you don't have to own a whole Ethereum. All of these things are democratizing access to capital formation,

11/13 “business formation, wealth creation in a way... and imagine a world — this is where my mind gets blown — where every asset, every stock, every bond, every currency, every commodity, every piece of art, every piece of real estate, every private business, everything is

12/13 “digital, trades 24/7, fractional ownership, and I have an algo — instead of me trying to wake up and figure out what to do with my 401 (K), I have an algo that owns a little piece of that Beeple, owns a little piece

13/13 “of the most valuable — or the best-performing asset in the last 10 years…”

Timestamp: 1:07:22

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