THESIS

The best investments are in companies fixing something that is genuinely broken. Healthcare is broken. Education is broken. Financial services are broken. That is where I want to put capital.

GBTC was going to convert to an ETF. The discount would close. The math was obvious.

$1 billion raised on the thesis that enterprises need ML but don't have enough data scientists.

At that time, we had a crystal ball, and the crystal ball was that what had succeeded in the US would probably replicate in China.

Faster, cheaper blockchains win. That has been our core bet from day one.

Decentralized finance is rebuilding the entire financial system in the open.

DeFi is going to eat traditional finance one piece at a time.

Games are going to onboard the next billion people into crypto, not banks.

DeFi is going to eat traditional finance from the bottom up. Most people are just too early to see it.