65 - Crypto, Legacy, and Value | Mark Yusko
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 17 May 2021
⏱️ 108 minutes
🧾️ Download transcript
Summary
Mark Yusko has been at the forefront of institutional investing throughout his career, in both the legacy and crypto. He is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management.
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Bankless Podcast #65 - Crypto, Legacy, and Value
Guest: Mark Yusko
Mark W. Yusko is a seasoned investor in both traditional and crypto finance, and is the managing partner of Morgan Creek Capital. Notably, he is also an avid fan of Pokemon Go. In this episode, Mark provides a deep and logical basis for a sound decision matrix in the world of investing. He emphasizes broad narrative context, addressing themes reminiscent of our episode with historian Joshua Rosenthal on 'The Crypto Renaissance.'
Mark explores the speculative frenzy in the markets and how it is indicative of a fiat-based financial system that has run its course. Continuous printing has gameified the economy, and crony capitalism has created an environment where you are either in or you're out. If you're in, then you're an incumbent who is incentivized to maintain the status quo. The centralization of power makes progress hard and proper equity even harder.
As a long-term investor who prioritizes values & principles, Mark discusses money as a shared illusion, and notes that value is relative. He presents salient takes on crypto's role in the broad shifts driven by the inevitable failing of incumbent institutions. His worldview feels compatible with the Bankless narrative, and towards the end of the episode, we discuss how Ethereum fits into all of this.
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Resources:
Mark on Twitter:
https://twitter.com/MarkYusko?s=20
Morgan Creek Capital:
https://www.morgancreekcap.com/
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier internet money and internet finance. |
| 0:19.0 | This is how to get started, how to get better, and how to frontrun the opportunity. |
| 0:23.0 | I'm Ryan Sean Adams, I'm here with David Hoffman and we're here to help you become |
| 0:27.8 | more Bankless. |
| 0:29.4 | David excited about this next guest, he is a seasoned investor on both the traditional |
| 0:34.3 | finance side and also on the crypto side. |
| 0:38.5 | Learned a lot in this episode. |
| 0:40.6 | Tell us what we covered. |
| 0:41.6 | We covered so much and it's always really good to get people's perspective like Mark |
| 0:46.8 | Usko's where they know money, they know finance. |
| 0:51.0 | Also they are not tricked by some of the shenanigans I would say is going on in the legacy |
| 0:55.6 | market specifically with regards to the Federal Reserve and Mark has a lot of very strong |
| 1:00.9 | opinions with how the Federal Reserve has really dictated how the world works and that |
| 1:06.7 | was just always a treat to hear that perspective from somebody who is a seasoned legacy investor |
| 1:11.8 | who is also very attuned to what is going on in the world of crypto and getting more |
| 1:18.0 | and more attuned every single step of the way. |
| 1:20.8 | I think there's a lot of through lines between what Mark values and what he sees as valuable |
| 1:26.6 | and what we are seeing going on in Ethereum and in the DeFi app layer and I actually don't |
| 1:31.9 | think Mark has gotten all the way there yet. |
| 1:34.3 | I don't think he completely sees what we see but that is kind of the unique perspective |
| 1:40.8 | that Mark brings is that he sees things as valuable and he went through a list of things |
| 1:44.6 | that he sees as valuable and what I saw is him rattling off a list of Ethereum characteristics. |
... |
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