2/ We got to know Arianna through her fund Autonomous, and we continued running into Arianna as a co-investor in projects like @CeloOrg, @dapperlabs, and @MakerDAO. We kept hearing amazing feedback from founders that she went above and beyond for them.
3/ Arianna has been writing and video blogging about crypto for over seven years—long before most people were paying attention.
4/ She’s also a veteran of several crypto cycles which makes her hugely valuable to teams learning how to operate and innovate in an industry with so many ups and downs.
5/ I’ve really enjoyed working with and learning from Arianna since she joined a16z, and appreciate the energy and judgment she brings to our team. We’re very excited to have her as our newest GP. Congratulations Arianna!
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1/ Topic: The internet treats bad business models as defects and routes around them. 🧵👇
2/ Let’s start with this fascinating chart (from matthewball.vc) which raises the question: why has the video game industry grown alongside new technologies, while the music industry has not?
3/ For a long time, video games and music had the same, straightforward business model: charge money for a perpetual license to the base content — the game or music itself.
3/ NFTs platforms generally have low take rates, ranging from 2.5% to 15% (blockchains shift power to users -> low switching costs -> low take rates). This means most of the $2.5B went to creators and collectors.
1/ Today we’re announcing Crypto Fund III, a $2.2 billion fund to continue backing visionary crypto founders and help accelerate crypto into its next phase a16z.com/2021/06/24/cry…
2/ We’re also announcing new members to the team that come from crypto and tech (Alex Price, @RachaelRad) as well as heavy-hitters from the world of policy and regulation.
3/ Bill Hinman, Brent McIntosh, and @TomicahTD have each made significant contributions to crypto from within government and have been critical in helping to establish early rules of the road for our industry. I’m excited to have them onboard to support our portfolio companies.