Managing Partner @multicoincap. Telegram: https://t.co/r1Njz1utJX. Opinions are my own; not a solicitation; not an offer for investment advisory services
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Sep 26, 2023 • 6 tweets • 1 min read
0/ Multicoin has led a $7.5M seed round in @FhenixIO , which is pioneering on-chain FHE to enable compliant, on-chain confidentiality
This market will have many winners, and we are looking to invest in more teams in this sector
Mar 15, 2023 • 4 tweets • 1 min read
0/ A theory on DAO coordination
There is an inverse relationship between surface area of social coordination, and need for hierarchy
1/ Helium and Hivemapper work because surface area for social coordination is limited, and as such, require little hierarchy. Same generally holds for other DePIN / POPW protocols
Oct 5, 2022 • 18 tweets • 3 min read
0/ A thread on (web3) identity
1/ What is identity?
Outside of the context of legally mandated ID (eg DL/passport), I think the actually important thing about identity is that its a *socially emergent phenomenon*
What does this mean?
Oct 3, 2022 • 9 tweets • 2 min read
0/ Discord is a social product, but not a social network
1/ for a huge % of intellectual capital on the internet, twitter is the primary identity in the context of whatever intellectual capital they posses and demonstrate to the world
Both personally, and in the context of investment decisions at Multicoin
1/ As a general statement about life, simple > complex
Concise > verbose
etc
This is particularly important in the context of DM. But how do you embody simplicity in the context of DM?
Feb 24, 2022 • 5 tweets • 2 min read
0/ We co-led a $3M round in Marginfi
Marginfi is a defi-native prime brokerage
Marginfi is *the* quintessential example of composability on Solana. I highlighted Marginfi extensively in my composability presentation at the Multicoin Summit
The most common way to do this is by using data, and extrapolating from the past
This works ok when things are changing in a predictable-ish way
But sometimes things change unpredictability
2022 will be a year of unpredictable changes
2/ whenever there is a breakthrough technology, it usually starts off looking like a toy, and slowly compounds
And then one day - when the tech and the market are ready- the growth curve turns vertical
But ask anyone who does 3D design, and they will tell you that the cost and speed of building those renderings sucks
Dec 13, 2021 • 19 tweets • 3 min read
0/ A counterintuitive lesson on fund structures
TLDR - hedge funds are better structures for *long term* investing than venture structures
I say this having run one of each for 3-4 years now
A thread for entrepreneurs and LPs
1/ Hedge funds have a fairly negative connotation in general media/press/normie circlces
And among LPs, they aren’t as loved as they were 10-20 years ago (underperformance + efficient markets + high fees)
Dec 12, 2021 • 22 tweets • 4 min read
0/ Why the next bear market will not be like the last one
And in fact, we may not have a bear market at all
Or we may have half a bear market, depending on your perspective
A thread
1/ Broadly speaking, there are two cohorts of people in crypto
Money crypto
Tech crypto
The zeitgeist of the space was dominated by money crypto people from 2011-2017
Since 2017, tech crypto has come to dominate the zeitgest
Nov 11, 2021 • 5 tweets • 1 min read
0/ One theory of the metaverse is that the company that controls the social graph, will have the strongest influence on the Metaverse
So I’ve been thinking a lot about how to get the social graph data out of Facebook and Twitter, etc
1/ I’ve become more optimistic recently that this is possible
The amazing thing about web3 is that users own their data. Now, ~95% of users don’t care
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