Sarah Tavel: belief

Transcript context

…I love just the visual of a current. There's a startup I invested in, as an example of the opposite, that's a crypto marketplace sort of thing. And they started it when crypto was really great, and they continued building it as crypto winter emerged. And they just realized, "Our timing, this is not the time to build a crypto company, that's new, that's trying to compete with who's out there." And so, it's an example of the... You got to recognize when the wave is going the opposite direction and everything is pulling you away from success. The opposite of what you're describing. Yes. I might have a nuance there, because I think crypto is too broad of a way to describe it. If you said it was a DeFi crypto company, then yes, definitely, with treasuries where they are, the opportunity in DeFi isn't as material as it once was, which stablecoins, I'm a huge believer in stablecoins, and I think that's a market where we have a real current. With inflation and so many local currencies, there's real demand for stablecoins, the US dollar stablecoin, that comes in many different shapes and forms, that is something that I believe has a very strong current right now, that I'm actually quite excited about. Oh, interesting. Yeah, I should have been clear. It's like a very specific part of crypto that's just not happening too much, versus what it was. Okay, we've gone totally off track. So let me come back to our track and see what else you wanted to share around the hierarchy of marketplaces either on the top...…

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