Kyle Samani, co-founder of Multicoin Capital, argues against selling crypto positions simply because they have surged 10x in a short period.
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“I reject kind of the notion of mean reversion as a point of principle, given our mandate to be long-term fundamental investors.”
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More from Kyle Samani
PredictionNot checkable as stated
Samani: Long-term technical and social gravity trends toward one single chain
“Given both the explicit technical costs and then the softer, squishier social developer experience costs, I think gravity trends towards one chain.”
Kyle SamaniNov 18, 2021▶ 48:15Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
Insight
Samani: Global retail risk tolerance for software exceeds traditional investor beliefs
“Risk tolerance specifically for early stage software things among the global retail populace is much higher than I think traditional capital markets investors acknowledge or recognize because everyone wants to be a VC, especially for consumer products.”
Kyle SamaniNov 18, 2021▶ 39:58Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
AssertionSupported
Samani: Multi-chain architectures inherently increase total computation and latency
“There's at a minimum two explicit costs and secondary and tertiary costs as well, but the two explicit costs are you are increasing the total amount of computation to be done because you're having to verify signatures on at least two chains or two places as op…”
Kyle SamaniNov 18, 2021▶ 47:45Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
Opinion
Samani: The concept of network effects is overused and misunderstood
“I find that network effects, the term on the internet is like way overused. And even when it is used, the implications of how it's being used are mostly incorrect.”
Kyle SamaniNov 18, 2021▶ 1:08:34Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
Disclosure
Samani: Multicoin deliberately operates at an 'underwater' pace to move fast
“It's much less common to see that, I'd say, among investors. It's certainly been very helpful for us in just making sure we move fast, keeping the pace of the firm moving, as people who work here will tell you. A lot of things are going on when it kind of feel…”
Kyle SamaniNov 18, 2021▶ 18:37Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
Insight
Samani: Market timing is the hardest risk for venture investors
“The one that I would say we consistently struggle with the most, and I think most other VCs also probably struggle with the most is timing. Being too early is always painful. It sucks being too late. It's usually easier to tell if you're too late than it is to…”
Kyle SamaniNov 18, 2021▶ 22:37Kyle Samani and Tushar Jain - Multicoin Capital (Manager Meetings, EP.20)
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