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20VC: Why Market Matters So Much More Than Founding Team | Why Crypto Investing is Less Collaborative Than Ever | Why Bitcoin is Not a Hedge Against Inflation | Why Solana Will Beat Ethereum | The Network Effects You Need To Understand with Kyle Samani, Co-Founder @ Multicoin Capital

20VC

Jul 21, 2022

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Kyle Samani is the Co-Founder and Managing Partner @ Multicoin Capital, one of the leading crypto native funds of the last decade with positions in Solana, FTX, Fractal, and Helium to name a few. As for Kyle, before moving to the world of venture and crypto, he founded Pristine, a health IT startup that raised more than $5M in VC, and was acquired by Upskill.

In Today’s Episode With Kyle Samani We Discuss:

1.) The Founding of Multicoin Capital:

How did Kyle make his way from a healthcare startup to founding Multicoin?
What was his a-ha moment with the realization of the opportunity we have ahead of us in crypto?
What does Kyle know now that he wishes he had known when he started Multicoin?

2.) Crypto Investing in 2022:

Why does Kyle believe the crypt investing landscape is less collaborative than ever?
What are the biggest challenges of token issuances today?
How does the option of liquidity help and hurt Kyle’s investor psychology?
Is Kyle concerned the volatility in the market will harm institutional investor sentiment for crypto?

3.) Constructing a Crypto Portfolio in 2022:

Why does Kyle not believe in temporal diversification?
Why does sector-centric company diversification suck?
Why are the loss ratios in crypto so much lower than in traditional venture?
Why does Kyle believe a no reserves model is optimal in crypto?

4.) Multicoin vs Traditional Venture Firms:

Why does Kyle believe that every person over 10 people in a venture firm is a net negative towards the investment decision-making process?
What do Kyle and Multicoin do reach the truth together? How do they aggressively use writing and word docs to progress their thoughts?
Their discussions are “brutal”, how brutal can one be in a discussion on a deal? How does one make team members feel safe but also really push them for the truth and debate?