The Ledger
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Carlson-Wee: Companies launching tokens must stop extracting direct network revenue
“The second thing is that if you are launching a token and you're a private company, you should be ready to stop extracting any revenue from your network. So however you were extracting revenue from the network, whether this was advertising or paid subscription…”
Carlson-Wee: Solving humanity's deepest problems requires altering the human brain
“I think that the only means to solve the deepest problems that humanity faces is actually to alter the human brain itself.”
Carlson-Wee: Avoid opportunistic Wall Street transplants when backing crypto tech funds
“I'd look for people that have been in this ecosystem for a long time. I'd look for people that have deep technical expertise in this subject matter. I'd look for people that have solid networks among relevant people in this ecosystem. I would avoid Folks that …”
Carlson-Wee: Polychain operates under a benevolent dictator investment model
“So internally, we do have a benevolent dictator, which is me. I do obviously seek help from our research team extensively, as well as other partners at the firm. I, in general, though, I have kind of full veto rights over any investment.”
Carlson-Wee: Companies without network effects should not issue tokens
“So I think that a good rule of thumb, though, is that these companies must have network effects, period. If your business is not based on building network effects, then it doesn't make sense for you to create a token. I think this rule is the one I see broken …”
Carlson-Wee: Crypto ecosystem will experience mergers of token networks
“I do think that we will see M&As of token networks.”
Carlson-Wee: ICOs will irreversibly accelerate crypto software development
“So I do think that this is an inflection point for the entire ecosystem, and that this concept of a crowd sale or so-called ICO is really a case of the genie being out of the bottle, and it will irreversibly change the pace of software development in this ecos…”
Carlson-Wee: Cognition-enhancing technologies are massively underinvested
“I believe that cognition enhancing technologies are massively underinvested and underdeveloped right now.”
Carlson-Wee: Ethereum is the most important protocol since Bitcoin
“So for example, if you look at Vitalik Buterin, the creator of Ethereum, he was 19 and a Russian Canadian who really didn't have ties to traditional venture networks. And Created what is pretty much inarguably the most important protocol since Bitcoin.”
Carlson-Wee: Non-experts should ignore crypto white papers
“I don't think people should evaluate white papers unless they consider themselves subject matter experts. This is very different from understanding a business, and if you don't understand, like, consensus mechanisms, the underlying cryptography used here, and …”
Carlson-Wee: Traditional companies cannot acquire decentralized token networks
“I don't think that there's a Place in general for traditional companies trying to purchase token networks at all. I don't think that makes sense because you can't buy a token network.”
Carlson-Wee: Decentralized exchanges will play a massive role in crypto
“I do think that decentralized exchange will play a massive role in the future of this ecosystem.”
Carlson-Wee: Polychain invests exclusively in crypto assets, holding zero equity
“Polychain is an investment manager, and we manage a fund that invests exclusively in blockchain-based assets. Another word for this is, you know, cryptocurrencies. So we don't invest in the equity of startups. We don't invest in public equities. We hold no sto…”
Carlson-Wee: Polychain intends to hold crypto assets indefinitely unless thesis changes
“So while we do have the ability to rebalance the portfolio and sell down a position while staying ultimately long on the technology, it mostly is our strategy to hold these things forever. So until our thesis changes about something, it's our intention to real…”
Carlson-Wee: Polychain Capital is not large enough to move crypto markets
“Actually, I know for a fact we are not big enough, despite the fact that I think we're likely the most prominent fund in this area, we are not big enough to significantly move these markets.”
Carlson-Wee: Crypto fund investing is not a zero-sum game
“Well, I actually don't really view other crypto funds as competitors. The reason being that this is not a zero-sum game like much of Wall Street feels like it is. If you're a derivatives trader on Wall Street, if you win, somebody else loses directly. In this …”
Carlson-Wee: Direct community channels teach crypto better than books
“I would actually go direct to the source and start reading Reddit, Twitter, developer mailing lists, get in some WhatsApp groups, Telegram groups, WeChat groups, and just actually get involved with the community. I think that you can learn a lot more ambiently…”