Electric Capital

“We did an investment in a company called Coda that has some novel ways to compress the blockchain itself using zero knowledge proofs. And the reason I think this is really interesting is what it allows is for a much, much smaller blockchain, which allows for m…”

“We see cases where actually, yes, today there's a company, but the real value clearly will be in the token. And actually you want the company to dissolve and not exist. So effectively you're going to invest in some equity over time. You'll get some tokens, whi…”

“Half the team is software engineer.”

“I don't think it's so crazy that 10 or 15 years from now, a lot of electric activity actually just happens on-chain.”

“He was the catalyst. He was the person who came to us and said, you guys are really good at this, and there's a real market opportunity here for a thing that's not a traditional VC firm, and that's not a hedge fund, that's built differently, and you guys have …”

“You can't have exponential growth and experimentation and exploration without a bunch of this sort of speculative, cringey kind of activity, and so I think you just sort of have to swallow it as part of the process of figuring out what's really valuable, and s…”

“Generally, a limit test we're using is like, does the company just go away? And if you shut down the company, Would you still have a significant amount of value capture and creation that happens on the token side? And if the answer to that is yes, then really …”

“And so you actually, like in our case, we try to not own more than five percent.”

“And we comp them as investment professionals. We don't comp them as like back office.”

“Crypto is also going to eat capital markets, right, which is the deployment of money and the deployment of capital. And if crypto is going to eat capital markets, it's going to eat venture capital.”

“I suspect we've tapped no more than 10% of those people. 90% of the highly gifted people in the world we have just not been able to find yet.”

“Last month, Electric announced that they had raised one billion dollars for their new fund, making them one of the largest independent and crypto-native VC firms in the world.”

“And I think for us to really know which of these experiments from governance or economic game theory perspective are durable, I think it's going to take seven to 10 years.”

“We probably do about a fourth of our investments in USDC, because it's just faster.”

“Raised our first fund. It was a small fund, sixteen million, and then raised our sort of first proper institutional fund in 2020 at 110, and then just closed a billion.”

“Yeah, we actually look pretty vanilla on that stuff. And the reason is, I think, from a product perspective, it's much easier to tap into institutional capital at scale if you're not trying to invent something new there.”

“I think copy trading of each and electric capital is probably one of the best strategies that anyone can have.”