I call the blockchain 'the Internet of value' and 'the Internet of trust.' Because everything becomes trustless. It's a big distributed ledger. Think of it like an Excel file that's being maintained and updated and managed by millions of computers around the world.
When the Internet first launched, you had all these newspapers saying that the Internet was only used by bad people, to do bad things and what was the point of it. But the Internet changed everything, just like Bitcoin will.
I am really surprised bitcoin isn't more popular in India, given the strong gold culture here. I call it Gold 2.0. It has all the attributes other than the fact that it isn't tangible, and tangibility is less important in the digital age.
What happened at Mt. Gox is not an isolated incident. This is a plague that continues to play like a bad broken record. As long as this continues to happen, how are we ever going to instill confidence in this industry? How are we better than the old financial system?
The real problem with Puerto Rico is that it keeps losing its best and brightest. It keeps losing its leaders and its future leaders due to a lack of opportunity.
The only way to fix Puerto Rico is with brain game, to bring the intellectual and human capital there - in a way that it's done with the right intention.
When you have to start over from scratch, you can do it very differently than if you have this big thing that's kinda been building on top of itself for ages and ages.
It's often lost in most Silicon Valley startups, the importance of storytelling when most people are thinking about they assemble their team and the critical functions that the team needs to be successful. Storytelling is normally not on the list.
Users and entrepreneurs building new business models off the blockchain means that there are competing interests on how best to scale the network. Linux, also an open source software project, had similar growing pains.
It is possible that Bitcoin will fork at some point. The question is whether or not it'll be a contentious fork. This process is a good thing in the long term, though potentially disruptive in the short term.
The VC industry has benefited greatly from technology and the Internet, so I see how the VC industry is going to get disintermediated, decentralized, disrupted, so I can sit around and wait for someone to disrupt ourselves, or we can choose to disrupt or cannibalize ourselves.
Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world's fiat money, debt market, real estate, equities, and art.
If you think about it, it requires a lot of effort and time and energy to make money in the real world, and if they made games equally as difficult to make money in, people wouldn't play them. So they are generally designed to be hyper-inflationary because that's more fun.
Being able to borrow against one's crypto assets gives one options, when wanting to purchase a property, and aligns with my philosophy that real estate and tokenization will be a quadrillion dollar market.
AngelList Syndicates are perfectly aligned with Bitcoin's ideology. They democratize the system so everyone has access to high value dealflow; it's the power of the people.
Steve Bannon was my right-hand man for, like, seven years. He's a hammer. And when you're a hammer, everything looks like a nail. He's very sure and very smart. Very driven, very patriotic. He's not most of the things that people say.
Los Angeles has always been one of America's most entrepreneurial cities, but it is hard to recognize this because of how hardwired, literally, 'entpreneurism' has become.
It's not a coincidence these two industry areas - Silicon Valley and Hollywood - use the same jargon. They share a common language, the language of the creator, of the entrepreneur.