I just interviewed @avichal, co-founder of @ElectricCapital.
He blew my mind.
Over an alpha-packed 100 minutes, we discussed:
• The most undervalued sector in crypto
• The future of L1s and L2s
• AI cryptos
and more.
Here are the 11 most important takeaways.👇
He blew my mind.
Over an alpha-packed 100 minutes, we discussed:
• The most undervalued sector in crypto
• The future of L1s and L2s
• AI cryptos
and more.
Here are the 11 most important takeaways.👇
1. We've made A LOT of progress over the last few years.
"All of the stuff that was theoretical in 2017 - is actually real now."
"All of the stuff that was theoretical in 2017 - is actually real now."
2. 2022 set the stage for DeFi.
Although the FTX saga was a painful process, people now understand the dangers of centralisation and leverage.
"I think that's a tremendous catalyst. It sets the stage for this stuff to actually work and go mainstream."
Although the FTX saga was a painful process, people now understand the dangers of centralisation and leverage.
"I think that's a tremendous catalyst. It sets the stage for this stuff to actually work and go mainstream."
3. Crypto development is stronger than ever.
"Developer activity is flat to slightly up, even though prices are down 70-80%. Which is remarkable."
In regards to "the $ETH ecosystem and EVM, there's a real network effect here."
"Developer activity is flat to slightly up, even though prices are down 70-80%. Which is remarkable."
In regards to "the $ETH ecosystem and EVM, there's a real network effect here."
4. Ethereum could become a digital country that sits adjacent to the United States and China.
If $ETH continues on this path, it becomes "an international decentralised settlement system that's $USD denominated."
Now the question is, "what is a digital country worth?"
If $ETH continues on this path, it becomes "an international decentralised settlement system that's $USD denominated."
Now the question is, "what is a digital country worth?"
5. The future is multi-chain.
"Our belief is that there's not gonna be one chain that wins. It's likely some sort of power law."
"You're going to have multiple ecosystems that co-exist."
"The markets are large enough that [each chain] will find their own niche."
"Our belief is that there's not gonna be one chain that wins. It's likely some sort of power law."
"You're going to have multiple ecosystems that co-exist."
"The markets are large enough that [each chain] will find their own niche."
"If you look at pure network effect businesses like a social network, obviously Facebook and YouTube are huge, but so is TikTok, LinkedIn, Telegram etc."
"All these things can co-exist."
In crypto, "You'll likely have them be much much bigger than anybody thought."
"All these things can co-exist."
In crypto, "You'll likely have them be much much bigger than anybody thought."
6. Cardano's tech (may be) great, but they've been too slow to go-to-market.
"The best product doesn't always win despite what technologists may want. You have to go to market in the right way."
"I really don't understand the $ADA community, but I love how passionate they are."
"The best product doesn't always win despite what technologists may want. You have to go to market in the right way."
"I really don't understand the $ADA community, but I love how passionate they are."
7. ZK technology is groundbreaking.
"It's going to be transformative far beyond crypto and web3."
"One of the really interesting side effects of all the crypto stuff is that we get way better privacy technology across all technologies."
It will "get baked in everywhere."
"It's going to be transformative far beyond crypto and web3."
"One of the really interesting side effects of all the crypto stuff is that we get way better privacy technology across all technologies."
It will "get baked in everywhere."
8. Arbitrum and $OP are Optimistic rollups, but they could still win the L2 race.
"The winner might be ZK tech, but the winning L2 might not have started with ZK tech."
"The winner might be ZK tech, but the winning L2 might not have started with ZK tech."
9. AI is the future, but AI + crypto isn't here *yet*.
"I think crypto + AI is a little bit early right now."
But "10 years from now, I think these worlds absolutely converge."
"I think crypto + AI is a little bit early right now."
But "10 years from now, I think these worlds absolutely converge."
10. Approach the market with a long term mindset.
Think about "what's going to be so much bigger in 5-10 years, and undeniably huge."
"Rather than trying to ride a new wave every 2 years, try to ride the right wave for 10 years."
Think about "what's going to be so much bigger in 5-10 years, and undeniably huge."
"Rather than trying to ride a new wave every 2 years, try to ride the right wave for 10 years."
11. NFTs are massively "slept on".
"We're all primates, and we need ways to socially signal to each other."
"All of the luxury dollars are offline, but if you're spending 12 hours a day on the internet, why are you going to buy $1000 shoes?"
"We're all primates, and we need ways to socially signal to each other."
"All of the luxury dollars are offline, but if you're spending 12 hours a day on the internet, why are you going to buy $1000 shoes?"
"You could buy a $200k Patek.. How many people are going to see it in the lifetime of you wearing that watch? I would say maybe 10,000?"
"So you're paying effectively $20/impression."
"But if I buy a Punk for $200k, and a million people see it - that's 20c an impression."
"So you're paying effectively $20/impression."
"But if I buy a Punk for $200k, and a million people see it - that's 20c an impression."
I highly recommend watching the full video, as we also discussed topics such as:
• The future of interoperability
• The 3 biggest trends to look out for
• His thoughts on $SOL, $FTM, $BNB, $DOGE
and more.
Watch here: youtu.be
• The future of interoperability
• The 3 biggest trends to look out for
• His thoughts on $SOL, $FTM, $BNB, $DOGE
and more.
Watch here: youtu.be
If you found this thread valuable, follow me @milesdeutscher for more.
I'll be continuing this interview series in the future.
Also Like/Retweet the first tweet below if you can. 💙
I'll be continuing this interview series in the future.
Also Like/Retweet the first tweet below if you can. 💙
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