I encourage you to look into his firm’s Web3 claims and the reasoning behind them. My sibling comment has one link that is particularly egregious and recent. Here’s another badly-reasoned Web3 argument made by his partner, which implies Marc’s endorsement, and the time his firm invested over $100M in an obvious Ponzi scheme.
Actually, the only time I know they cashed in early was selling half their Coinbase shares at the direct listing after holding for 7 years.
Their racket was to be the #1 crypto fund with the most assets under management ($7.6B total) so that they can collect the most management fees (probably about $1B total). It’s great business for a16z to be in the sector-leader AUM game even when the sector makes no logical sense.
I’m just saying Marc’s reputation for publicly making logically-flimsy arguments and not updating on evidence should be considered when he enters a new area of discourse.
I encourage you to look into his firm’s Web3 claims and the reasoning behind them. My sibling comment has one link that is particularly egregious and recent. Here’s another badly-reasoned Web3 argument made by his partner, which implies Marc’s endorsement, and the time his firm invested over $100M in an obvious Ponzi scheme.
In the words of Matt Levine, he was in the Ponzi business, and business was good, my understanding is they did quite well by cashing in early.
Actually, the only time I know they cashed in early was selling half their Coinbase shares at the direct listing after holding for 7 years.
Their racket was to be the #1 crypto fund with the most assets under management ($7.6B total) so that they can collect the most management fees (probably about $1B total). It’s great business for a16z to be in the sector-leader AUM game even when the sector makes no logical sense.
I’m just saying Marc’s reputation for publicly making logically-flimsy arguments and not updating on evidence should be considered when he enters a new area of discourse.