Lawson.fm

@lwsnbaker

222 Following

933 Followers

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We’re live in ~15 https://x.com/i/spaces/1PlKQMmAOknKE

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The market is split - gamblers or professionals. One is driven by runaway consumerism and short term thinking. The other is driven by just doing things and long term thinking.

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We are approaching the peak theft on the Internet. It started with Napster and receded with iTunes and Spotify. Today, AI is stealing original content and re-writing history as if AI is god. For every action, there is an equal and opposite reaction. Crypto is the antidote.

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Remember when Ripple and Coinbase were fighting to acquire Circle? $CRCL $44b mcap $COIN $75b mcap $XRP $217b fdv

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we like the agents

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Yosoymatt from Mexico City definitely worth a listen https://open.spotify.com/track/5T3yTmOJ1hJxnH8boXgm3l?si=GqZ0X-XMR5qJyX_kQeWIvA

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Tipping in social networks have been tested in every cycle since at least 2013. ChangeTip made micro-tipping a thing first in December 2013. My observations: 1 - every cycle tipping meta grows. an entire generation has grown up with online tipping now. 2 - tipping with tokens that fluctuate in value leads to regret. imagine tipping $1 of btc when btc was worth $10. that’s 10k now. the reverse is true for tokens that crash in value when you get to tax time. 3 - no-matter how big tipping gets, micro-collecting will be much larger market bc people like to get something for the money.

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Gm. What’s your plan for the week? I’ll start. Stickers are coming back to @orb_club. Creator drops TBA.

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Stripe’s recent bridge and other stablecoin acquisitions means it’s highly unlikely to be shutdown anytime soon. Big picture - stablecoins are in a clear breakout this cycle with usage. But the business is not same, same to Stripe’s core business. The acquisition is nice for Stripe bc it gives them API customers and top of funnel transaction flow.

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Clarification & Update: $100M was just a placeholder for too low to announce. I missed Privy’s $15m raise in March 2025. Given the fast follow on acquisition, they probably saw a very nice multiple and, if they were smart, had a bidding war. But again too low to announce. My broader point here is Privy was rather dominant and had leverage to go distance. They have barely scratched surface on revenue growth opps. There a race to acquire all stablecoin and related infrastructure going on atm and Privy likely benefited from this FOMO. However, Privy may be key infrastructure for cryto apps may look like a distraction to Stripe, which atm is a card processor attempting to pivot to cryto processor. The pitch of having infinite runway only works so long as Stripe leadership still believes in the opportunity and are okay with multiple strategic focuses.

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Unlimited runway is definitely a feature for founders. Privy was very well positioned and becoming rather dominant. Feels like clipped wings to me especially when unlimited runway actually becomes “not a core priority”.

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Looks like they raised $40M so maybe low 100M’s. The point stands though. Deal too small for Strip to mention value.

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Stripe acquiring Privy notches one more M&A onto the mantle. It’s worth noting that the acquisition price was not disclosed. As a big fan and user, this is a sign the valuation was too low for Stripe to bother mentioning (sub-$100M). Stripe didn’t even QT. In short, Privy sold too early and are at risk of getting lost in shuffle. https://x.com/privy_io/status/1932816495719166167?s=46&t=x0KbCdY-ilXZ1Htgo5Cang

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Wall Street is a fraction of the size of products & services. Why? Because finance serves products & services - not the other way around. In crypto, DeFi is larger than Consumer Social. Why? After creating internet money (Bitcoin), the easy path was to make banks (defi) next. 4-6 years from now this will not be the case. Crypto consumer will be multiples larger than defi.

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We're getting closer! Planning next week to start shipping these 3 @faust roc cameras out to some of folks for external beta testing Will share more soon

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Wall Street is a fraction of the size of products & services. Why? Because finance serves products & services - not the other way around. In crypto, DeFi is larger than Consumer Social. Why? After creating internet money (Bitcoin), the easy path was to make banks (defi) next. 4-6 years from now this will not be the case. Crypto consumer will be multiples larger than defi.

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Would you rather pay for a surprise or a sure thing? This is the essence of investing vs consuming. Crypto broadly has over indexed to surprises. Most people want sure things. This is my consumer crypto hypothesis.

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Heyo. Let’s play ▶️

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https://farcaster.xyz/lwsnbaker/0x99476744

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