Episode 17 - The Open Metaverse Podcast
Our guest this week is the managing partner of a registered investment adviser, nothing in this podcast is an investment, tax, legal, or other financial advice.
We start with a detailed discussion about how Multicoin thinks about the Market structure, network effects, and virality in the formation of their Web3 theses.
Kyle also explains how he thinks about token designs for dapps, his thesis on the intersection of AI X Crypto, and why he is excited about FileCoin.
We also did a thought experiment on value accrual between L2 and Ethereum and dynamics with the introduction of re-staking (via Eigenlayer).
You can also read about Kyles thoughts on the intersection of AI and crypto here https://multicoin.capital/2023/06/02/....
00:00 Intro and disclaimer
01:14 Investing through an angle of market structure you look at?
03:36 Network effects and defensibility
04:56 Other sources of compounding
07:21 Magnitude and strength of network effects/compounding
09:36 Virality vs Network Effects
12:38 Mental Model on Token Design
13:31 Valuation Model for a Commodity like Tokens
14:39 Thought on tokens depicting capital-like properties
16:47 Should the Team design tokens or external experts
18:06 Can L2s help Ethereum scale
26:36 Relative value trade between L2 and Ethereum
30:08 Ethereum dynamics with introduction of Re-staking with EigenLayer
32:42 Thoughts on SUI, Fuel and APTOS
36:03 The Intersection of AI and Crypto
41:33 Investments in DePIN
42:04 Decentralized Uber, Airbnb, and Grab
48:35 Why is Kyle bullish on Filecoin