Tayyab - d/acc pfp
Tayyab - d/acc
@tayyab
Something I believe: Crypto is successful if it helps more people participate in wealth creation / accumulation. Most major accessible wealth is created in two categories: Real estate and equities. There is a whole HOST of real estate solutions around tokenized ownership that I'm sure will happen eventually. The other that bothers me is equities. If you look today the average person has access to two "equity-like" investments: index funds and individual stocks. Index funds are great, but there is now a growing number of companies that are generating wealth rapidly for private investors that is completely inaccessible to the average investor. Stripe and OpenAI are great examples of extreme wealth creation that were and are not available for the public to participate. I understand there are challenges of being a public company, but this continues to perpetuate wealth accumulation to the already privileged. Ever smaller wealth creation examples like Cursor, Windsurf, or even Privy are not accessible to all. Crypto gives you access to investing in "memecoins", and now we have Believe which lets you invest in early projects but 99.99% of all of these go to zero. I am talking to a panel in August, where the pre-survey asked "what do you think about crypto" and most of the answers are "scam", "crypto bro", "FTX", "volatility", "gambling", etc. And these are from high-ranking financial executives in companies around the world! We can't sit here as an industry and just do the same shit we've been up to expecting anything to change. Crypto has powerful capabilities, but we are still focused on short-term wins... and completely missing the forest from the trees. Atleast AI bro's are ACTUALLY changing the world with powerful new tools.
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Dan Romero pfp
Dan Romero
@dwr.eth
I think stablecoins are going to eat finance a lot faster than people think. Took us 15 years to get here. But starting gun is about to fire.
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Tayyab - d/acc pfp
Tayyab - d/acc
@tayyab
I agree with you. I think it’ll happen in 18-24 months. ChatGPT-like adoption. I’m really interested in helping people get an “index fund” of A16Z returns or similar. Basically a low-cost, lower-risk version of mid stage like returns.
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Dan Romero pfp
Dan Romero
@dwr.eth
Have argued about this in the past, I don't think most companies have that much incentive to do the work to give access to private rounds to large groups of people. Would require significant regulatory and statutory changes imo before you would see that.
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Dan Romero pfp
Dan Romero
@dwr.eth
argued with others*
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🎀 sonya (in theory) 🐰 pfp
🎀 sonya (in theory) 🐰
@sonyasupposedly
even with those regulatory and statutory changes, I'm skeptical that it would make sense if you *can* raise private capital from VCs, why bother with a bunch of small fish? even without regulatory barriers, it's inherently more burdensome to deal with a large number of people to whom <$50k is a lot and if you *need* to deal with the small fish to raise capital, that's kind of a red flag about how promising the investment is. penny stock energy OTOH ideology / wanting to give the little guy a leg up is also a factor
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