Ribbit Capital founder Micky Malka reflects on the core insights gained from decades of studying Warren Buffett's shareholder letters.
Prediction Not checkable as stated
Malka: AI will connect to money via blockchain smart contracts
“I think it's going to be that intersection between probably what blockchains will do and AI will do, because you will need to have intelligent smart contracts that will do stuff on your behalf”
Prediction Not checkable as stated
Malka: Founder-led fintechs like Stripe and Nubank will win AI race
“I think it comes from them. Because first, they're still founder-led, or Revolut, also. They're still founder-led. Those founders are pushing the boundaries of all of this. They are at an age, and they are at a place, and if you talk to them, they're still as …”
Opinion
Malka: Dee Hock considered Visa a failure because it lacked smart contracts
“For him Visa was a failure, if you talk to him, because he only got to release The simple version of it, which was payments, he wanted to do a lot more, which looked a lot like blockchains and smart contracts are today, but he was probably 60 years ahead of hi…”
Assertion Not checkable as stated
Malka: AI remains largely disconnected from money and financial flows
“Like, today, token factories don't touch money that much. Money's been outside of AI, and we're on year four or five. It's funny, because money's supposed to be one of the first, most fungible things that should be playing the game, and it's not.”
Opinion
Malka: Gen Z is the fastest-learning generation in history
“What I believe the people in their twenties have right now is that They are the smartest, fastest learner generation we've ever had in history. They learn the fastest”
Opinion
Malka: Silicon Valley lost the ability to build beautiful products
“Silicon Valley has lost that ability a long time ago, and we have to bring it back.”