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, C
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 22 July 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
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?
Item's Mentioned in Today's Episode:
Kyle's Favourite Recent Reading: Eugene Wei
Kyle's Most Recent Investment: Delphia
Transcript
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| 0:00.0 | Welcome back. This is 20VC with me, Harry Stebbings. And what a show we have few stay. Just last week, |
| 0:04.9 | this guest announced the closing of their new $430 million venture fund. And so with that, it could |
| 0:10.0 | not be better timing to welcome Kyle Samani, co-founder and managing partner at Multi-Coyne Capital, |
| 0:15.1 | one of the leading crypto-native funds of the last decade, with positions in Solana, FTX, fractal and helium, to name a few. |
| 0:22.6 | As for Kyle, before moving into the world of venture and crypto, he founded Pristine, |
| 0:26.9 | a health IT startup that raised more than $5 million in venture funding and was acquired by upskill. |
| 0:32.2 | But before we dive into the show today, I want to talk about an incredible tool that I use |
| 0:35.6 | every single day, Notion. |
| 0:37.4 | Now, I am the |
| 0:38.1 | worst for having 50 tabs open and constantly hopping between an endless array of tools. Do you feel |
| 0:43.5 | me? Are you with me? Well, then Notion came into my life, providing one tool to do it all with everything |
| 0:48.6 | from seamless project management to easily organizing 20 VCs company information. A fascinating |
| 0:53.8 | stand on Notion usage. More than 70% of companies who start using Notion, stop using |
| 0:59.1 | two plus other tools. |
| 1:00.7 | And so, Notion can even save you money given how many other tools it can displace. |
| 1:04.6 | Notion has a worldwide network of millions of users, creating templates, tutorials, |
| 1:09.4 | and new inspiration. |
| 1:10.6 | The product's getting better and better |
| 1:11.8 | every single day, and you always have the support you need. Learn more and get started for free at |
| 1:16.5 | notion.so. Take the first step toward an organized happy team today, again at notion. So, and speaking |
| 1:22.9 | of foundational infrastructure like Notion there, Angel List has been a key partner for me in managing my |
| 1:27.9 | investments. I just love using the AngelList platform because it abstracts away all the complexity |
... |
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