Web3

“Now, Ethereum, and Algorand, and EOS, and Dfinity, and all of these other protocols are vying to be Web. This decentralized global supercomputer where we process data in a private or cryptographic way to retain our privacy and bring efficiency, and this wonder…”

“And we ended up pursuing a small investment in the space at the end of that process, understanding that there's just huge unknowable risks around regulation, around the investment in tokens and their volatility, around how you're owning something and what you …”

“The big thing to pay attention to, at least in my opinion, and why I've started really focusing on it as an investment area is every time David and I are interacting with someone in the acquired community who's a builder of some sort, or they're a passionate, …”

“The big difference with the way most people in crypto think about the metaverse is that the digital environments we interact in today are wholly owned by corporations and by particular platforms. Whereas the metaverse that we envision in the future is more lik…”

“So if I say, how do we go from three hundred million to five billion? I think it's going to be more through these use cases that revolve around access and usage more than it's going to be trading.”

“People at Google and Facebook, in my experience, just don't get this stuff. Web two entrepreneurs just scratching their heads and they say it's all scams and fraud. They just don't get it. People in Hollywood get it. It's not weird to them. They've been sellin…”

“In blockchain web three, there's been very, very few cases of people spending significant money on customer acquisition. One of the exciting things of web three is that the users, because they have tokens, because they have ownership, they become evangelists f…”

“I believe we'll see in the next couple of years, web three payouts past web two payouts.”

“Generally what we own, contrary to Jack Dorsey and others saying that we own web three, we generally own sub five percent of most of these networks.”

“The goal of web three is to get the best of both worlds, to get the democratized open protocols of web one and the advanced functionality that we've come to love, mobile apps, fast user experience, everything else from web two and combine those.”

“In our world, a lot of people may not have formal educations. They may not have the same pedigree, brand name resumes. We've hired a lot of people who have not gone to college. What we want to see is they've demonstrated excellence. That excellence can be thro…”

“This is in no way to diminish other categories, but I just don't think people feel mission-driven with respect to SaaS software, as an example, or databases. I think those are important categories, just so you know, and our firm invests in them. They provide r…”

“So every growth assumption that web two businesses have used to grow is breaks in web three.”

“And so it became more and more clear to me that all of the growth problems of web three are More and more important as like a lot of these kind of hard technical scalability problems got solved and very few investors really seem to have this capacity to help t…”