We think of ourselves as the Amazon Web Services of payments. We want to be the infrastructure layer for internet commerce.
The Vegas Loop is proof that this works. Not a rendering. Not a concept video. A real tunnel with real passengers.
Twenty percent of the internet's web traffic flows through our network every day. We didn't plan to become critical infrastructure. It just happened.
Credentialing is the plumbing of healthcare. Nobody sees it, nobody thinks about it, and when it breaks, everything floods.
We automate the most boring, important process in healthcare. Nobody talks about credentialing at dinner parties, but the entire system breaks without it.
The mental health crisis isn't a supply problem. There are enough therapists. It's an infrastructure problem. The plumbing between therapists and insurance is broken.
The fax machine is still the backbone of American healthcare communication. That tells you everything about how much room there is for improvement.
In America, you build an e-commerce company. In India, you build an e-commerce company, a logistics company, a payments company, and an internet adoption company — all at the same time.
Africa doesn't have a payments problem. It has a payments infrastructure problem. Every country has different banks, different regulations, different currencies. We unified all of it.
Everyone is fighting over who has the best AI model. We're fighting over who can run any model the fastest. That's a better fight to be in.
Every fintech company needs to issue cards. Chime, Square, DoorDash, Instacart — they all need a card. We're the API that powers all of them. You use Marqeta every day and don't know it.
We process over $60 billion in payment volume. Square alone runs billions through our platform. But because we're infrastructure, nobody knows our name. That's by design.
Every time you connect your bank to Venmo, or Robinhood, or Coinbase — that's us. Plaid is the pipe between your bank and every fintech app you use. You use us every day and don't know it.
We connect to 12,000 financial institutions. Twelve thousand. Every bank, credit union, and brokerage in America, basically. That connectivity took eight years to build. It's the moat.
Hims is a brand. We're infrastructure. They sell you a product. We connect you to a doctor, write the prescription, fill it in our pharmacy, and deliver it to your door. That's a fundamentally different business.
We are building the cloud for AI. Not a general-purpose cloud — one specifically optimized for training and running large models.
The AI gold rush needs picks and shovels. Everyone wants to build the model. We build the infrastructure that makes the model actually work in production.
We built a 100,000 GPU supercluster in Memphis in 122 days. Everyone said it was impossible. Turns out if you just ignore the people who say things are impossible, things become very possible.
When 93% of a country uses your product every day, you stop being a company and start being infrastructure. That comes with a responsibility most tech founders don't think about.
Smart contracts that can't see the real world are just code running in a vacuum. Oracles are the eyes and ears of the blockchain. Without them, DeFi is a closed loop that does nothing useful.
We solved the most boring-sounding problem in crypto and it turned out to be the most important one. Plumbing isn't exciting. But nothing works without plumbing.
I co-founded Ethereum because I believed the world needed a decentralized computer. I founded ConsenSys because that computer needed tools, wallets, and infrastructure before anyone could actually use it.
We realized blockchain development felt like building websites in 1995 — unreliable nodes, missing data, no debugging tools. So we built what AWS built for the internet: infrastructure developers can actually trust.
The best infrastructure is invisible. If you're using OpenSea, you're using Alchemy. If you're using Shopify's crypto features, you're using Alchemy. You just don't know it. That's by design.
We built Ripple to fix the plumbing of global finance. It's not sexy. It's not consumer-facing. But trillions of dollars move through broken pipes every day, and we're replacing those pipes.
UPI processes billions of transactions a month in India. It's free. It works on any phone. And it was built on Aadhaar. That's the power of digital public infrastructure — one layer enables the next.
India can't copy the West. We have 1.4 billion people, most of them on low incomes. We need solutions that work at population scale and near-zero cost. That's why we built digital public infrastructure — open, free, and universal.
We started Near as an AI project. When we realized the infrastructure for decentralized AI didn't exist, we pivoted to building the infrastructure. Sometimes the best companies are the ones that solve the problem before the problem they wanted to solve.
The real flood of dead EV batteries won't arrive until the late 2020s. We're building the infrastructure now so we're ready when it does. You don't build the recycling plant after the batteries pile up.
Technology changes every five years. Infrastructure lasts for centuries. I know which one I would rather own.
We own hydroelectric dams, toll roads, data centers, and ports on every continent. These assets will still be generating cash flow in 100 years.
The most important infrastructure is the infrastructure nobody thinks about. Payments, like plumbing, only gets noticed when it breaks.
In Latin America infrastructure is the product. When nothing works reliably an app that works reliably becomes essential.
Liquid staking is not optional for Ethereum. It is infrastructure. Without it most ETH holders cannot participate in securing the network.
I was the White House Deputy CTO. Now I am scaling Ethereum. Both are about building infrastructure people depend on.
AI is driving the biggest infrastructure buildout since the internet. Every AI model needs servers. We build the servers.
a16z and Sequoia both invested. They bet on infrastructure. AI models come and go. The infrastructure persists.
We're building the rails. Every e-commerce transaction, every school fee, every subscription in Africa will eventually flow through infrastructure like ours.
Terraform manages billions of dollars of cloud infrastructure daily. That started as an open-source side project.
Infrastructure as code was a radical idea in 2014. Now it's how every serious company manages their cloud.
Every company will eventually need real-time data streaming. We're building the infrastructure before the demand peaks.
Africa has 1.4 billion people with growing smartphone penetration and broken payment infrastructure. We're building the fix.
We processed millions of COVID tests during the pandemic. That infrastructure now powers our cancer screening platform.
The infrastructure layer is always the most valuable. Applications come and go; infrastructure endures.
The best businesses solve problems that nobody wants to talk about at dinner parties.
Cement is not exciting. But everything — every house, every road, every hospital — starts with cement.
Africa's infrastructure deficit is the biggest investment opportunity on the continent.
I look for Stripe-like companies: infrastructure businesses with strong network effects.
Whoever controls the AI infrastructure layer will control the next decade of technology.
Digital infrastructure is the real estate of the 21st century. Data centers are the new office buildings.
A dark store every 2 kilometers in Delhi. That's not logistics — that's a network.
We deliver packages across China in hours, not days. We built the infrastructure ourselves. 500,000 people work at JD. That's a city.
Stripe was a bet on infrastructure. The best investments are in the pipes, not the faucets.
Processing $900 billion annually for Netflix, Uber, and Spotify proves one thing: infrastructure wins. Always.
Oracles are the most boring and most important piece of blockchain infrastructure.
We don't build for speculators. We build for institutions that need reliable infrastructure.
Cryptographic truth — tamper-proof data verified by decentralized networks — will become the standard for all digital agreements.
Boring is beautiful. The world's most essential assets are the least exciting, and the most profitable.
An airport does not have a startup competitor. That is the entire investment thesis.
Infrastructure is the backbone of civilization. Every economy, every business, every person depends on it.
If the infrastructure does not exist, build it yourself. That is the Flipkart lesson.
We build infrastructure for governments because infrastructure outlasts governments. Long after the politicians are gone, the roads and hospitals remain.
Eko Atlantic will change the face of Lagos forever. It is not just a real estate project — it is a solution to flooding and a new beginning for the city.
Hosting the 2030 World Cup is not just sport — it is the largest infrastructure investment Morocco has ever committed to.
My father-in-law built his fortune on ships. I built mine on land. The asset class was different but the principle was the same — own the infrastructure of commerce.
We take a 20-year view on every asset we acquire. Short-term volatility is noise. What matters is whether the business will still be generating superior returns two decades from now.
Our strategy has always been to own world-class assets and manage them for the long term. We are not traders. We are stewards.
Infrastructure assets have a unique quality: they generate cash regardless of what the stock market is doing. That consistency is not boring — it is the point.
Government policies change. Infrastructure does not. If you build it right, the policy environment will catch up with you.
We have the best broadband network in the country, and we intend to keep it that way. Everything else we build sits on top of that foundation.
We've been building the most advanced networks in the world. And we're doing it at scale and with real financial discipline.
A new stadium is not a luxury. It is a necessity if we want to compete at the highest level of professional football.
We're not here to speculate on token prices. We're here to build infrastructure that moves money for people who need it.
We are going to get this pipeline built. We have committed to this project and we are going to see it through.
Infrastructure is not glamorous. But it works every day whether you're paying attention or not. That's the kind of business I want to own.
We have the best natural gas pipeline system in the world right here in the United States, and Kinder Morgan operates a significant portion of it. Natural gas is not going away.
You cannot build a ten-billion-dollar piece of infrastructure unless you are willing to look completely ridiculous for a very long time.
I am not a speculator. I build things. That is a very different business.
Infrastructure is the bedrock of a modern India. Every road we build, every power plant we commission, is an investment in 1.4 billion futures.
The secret sauce of this type of investing is not in the models. What makes a good systematic firm is a great research architecture.