1/ Internet Capital Markets are the most important idea I’ve ever encountered as an investor. I had the privilege of sharing this vision at the @theallinpod Summit in LA. Here’s a quick summary. (full video at the end).
US capital markets were shaped in the aftermath of the 1929 crash. Since then, nearly a century of regulation, bureaucracy, and middlemen have been layered on top. Yes, our systems function...but barely. They are slow, inefficient, and exclusionary—not to mention prohibitively
Over the past decade, blockchains have sought to collapse these layers into a single, unified record of account. By moving the world’s financial markets onchain, markets could trade information in real time, anytime, anywhere and settle within seconds. Fees could collapse, and
But most blockchains have failed to deliver the speed, cost and performance needed for Internet Capital Markets. As a firm, we believe the only one remotely close to achieving this end in the near term is @Solana. And this is because, as a culture, Solana has relentlessly pursued
In July, I co-authored a paper with several ecosystem developers entitled The Internet Capital Markets Roadmap (link below). In it, we outlined a roadmap to achieve the technical foundation for Internet Capital Markets. Given the proximity of these developments, I’m more
But tech alone isn't enough. The rules must also evolve. The good news is, we finally started to see meaningful momentum this year, specifically with landmark legislation like the Genius Act, which is paving the way for stablecoins, and with the Clarity Act, which promises to
Perhaps the most striking development this year has come from the SEC in Chair Atkin’s speech on Project Crypto. In it, he said in no uncertain terms that the agency needs to prepare for US securities markets to move onchain. It’s my belief that there’s never been a greater
The combination of these forces—technical readiness and clear rules and regulations—means we are now at an inflection point for the industry. Internet Capital Markets are ready to transcend from an idea to a reality.
As markets move onchain, I predict we’ll see a breaking-of-the-dam moment where a tidal wave of capital and users will flow onchain—but not in the ways you may expect. They will come onchain through a variety of new applications enabled by Internet Capital Markets. Everything
Just like software ate the world, Internet Capital Markets are going to absorb every function of capital formation, trading, settlement, and risk. The legacy system won’t adapt—it will be consumed.
As a crypto-native investor, I’ve never been more excited about the prospects for our industry. The design space is about to radically expand, and with it the available universe of capital and users. We’re entering a fundamentally new new regime, one that requires re-underwriting
Watch the full talk below. https://x.com/theallinpod/stat...
End of thread.
@KyleSamani @aeyakovenko @theallinpod Day 1 of trying to get @aeyakovenko @solana to send me 1,000 SOL to help me buy a house for my family. 6jVLRVsnj7yqTCquYDFpHweJoyWND73f9YShLQexUCwF
@KyleSamani @theallinpod need an entry/stop-loss king
@KyleSamani @theallinpod its time to raise the next 5b sol dat
@KyleSamani @aeyakovenko @theallinpod $meta coded
@KyleSamani @theallinpod Yup and $PRGN is so undervalued real ICM, real customers, real use case and real revenue like fr lol https://x.com/ParagonTweaks/st...
@KyleSamani @aeyakovenko @theallinpod $Microsoft coded
@KyleSamani @aeyakovenko @theallinpod Kyle great thread. ICMs are next up and that’s why $Whatrr is built to lead. @whatrrdotcom @stevenhowell99