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Talking Web3 investing went from a niche topic to a crazy idea very quickly this fall. But Fin Capital is still excited about blockchain tech.
FTX continued to dominate the headlines for another week as their downfall reverberates around the crypto world
Although many Latin American companies claim they have little exposure to FTX's digital token, a widespread loss of conviction in crypto poses a significant risk.
Leading the news this week was the incredible demise of Fast that imploded this past week. Also making news was a big M&A deal from Fast archrival Bolt, Jamie Dimon's shareholder letter discusses tech, the UK go all-in on crypto, the SEC wants to regulate crypto exchanges and more.
A casualty of FTX's "ripples" or another cog in a crypto's poorly regulated CeFi machine that is casting a shadow on the industry?
Luxury and fashion markets are structurally different from finance or commodity markets in that they seek to limit supply in order to generate value. This increases price and social status. We can analogize these brand dynamics to what is happening in NFT digital object markets and better understand their function as a result.
We’re not cool. That’s why we’re in finance.
But people want to be cool. As highly social and intelligent animals, we want and need to belong, differentiate against each other, and negotiate for status. We create signals and hierarchies to create pockets of relational capital, which we then cash in for real world benefits.
Such mammalian realities are contrary to the economic rendering of the homo economicus, the abstracted rational agent making choices in financial models. In 2021, our financial models are waking up and instantiating themselves, becoming Decentralized Autonomous Organizations (DAOs), spun up by DeFi and NFT industry insiders, and implemented into commercial actions onchain.
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The FTX debacle continues- when you thought it was all over, things just get weirder.
Leading the news this week is Sam Bankman-Fried giving a public appearance, Larry Fink like tokenization, BlockFi filed for bankruptcy and more
Tuesday afternoon Binance CEO Changpeng Zhao announced on Twitter an agreement to buy FTX.com, the non-U.S. section of FTX.
This week, we cover these ideas:
The difference between building a Fintech company, and building an empire to transform the world
How Warren Buffett is the best in the world at getting leverage through third party capital to grow
How Elon Musk is the best in the world at re-investing capital into his own judgment and view of the future
The $1.2B BitGo acquisition by Galaxy Digital, and the growing footprint of Alameda Research
DAOs as a way for all of us to participate