Tayyab - d/acc on Farcaster

Tayyab - d/acc pfp

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

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

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

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

argued with others*

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Tayyab - d/acc pfp

Fair point. I’m in favor of just lowering the accredited investor barriers to begin with. Though I can imagine an allowance for up to 10% of a VC fund for public investors. Stables makes it easy to raise, and with a regulated process to allow your wallet to become eligible.* *never raised a fund, talking outta my ass. But maybe @linda has thoughts

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Linda Xie pfp

I'm in full favor of lowering the accredited investor barriers, I think that whole system is dumb Will say as someone who managed a fund for 7+ years with 70 investors, the more investors involved the more overhead time and $ spent on it (ad hoc emails and calls, statements, K-1s, etc) so as much as I would want to include public investors it would be really challenging to maintain (and pull away from time actually investing). If an investor wants to do this they should be able to do though e.g. had one of my investors without my knowledge or permission invest in us through a SPV they posted on AngelList and had a ton of those SPV investors reaching out to me demanding my time or needing statements at a certain timeline since they were "investors" in my fund (became such an issue I had to talk to the SPV person that this can't seep through like that)

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