Ben Gilbert: evaluation

Transcript context

…I’ve got one that is a really, really big playbook theme that we've only scratched the surface here and we can't fully dig into, but I think we're going to in the future of Acquired quite often is look, Fred Wilson's arguments against Patel, against The Foundation had a lot of merit and rewinding back to the original history and the founding, Charles, and Anthony, and the desire to do a for profit company for this as the vehicle and to raise venture financing, there was merit for those things. Ethereum and so many other crypto organizations since Ethereum have proven that there is another way to generate, and for people in institutions to capture amazing amounts of value outside of a traditional US C-Corporation. Solana is a combination of a foundation and a C-Corporation that is operating things but most of the values and most of the tokens are held by the foundation. This is a whole new way of structuring projects, companies. It totally is and this is going to change a lot. Certainly a lot of VCs from USV, crypto native funds, et cetera are like, yeah, cool. We get it, we're going to buy tokens instead of buying shares in C-Corps. Maybe it's that simple. I think we're just scratching the surface of all the implications of this. I got another one that we touched on earlier but is worth repeating. When we literally think of what is the playbook to build Ethereum, what was the playbook to build Bitcoin, it was bootstrapping the network with illegitimate use cases. Once that network has been laid, you do really cool stuff on it, cool legitimate stuff that is better than what came before or at least serves a different use case because now you have this infrastructure. I was trying to think where did this show up or did we see this with the internet in the same way that we've seen it in crypto where the Silk Road in Bitcoin, you had ICOs with Etheruem. People talk about the adult industry being an early adopter of the internet and pioneering video technologies. That happens to some extent. It also happened with Ethereum. We didn't talk about history, but there's a thing called SpankChain that for sure is one of the first applications on Ethereum.…

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