n a secluded back patio of the luxe Ventana Big Sur hotel, several dozen of the world’s leading cryptocurrency experts are playing a special after-dinner game. It’s a brisk weeknight in November 2019, and the attendees congregate around tall heaters to sip wine and hot chocolate and quiz each other – a nerdy, real-life reimagining of a computer science concept called the Byzantine Generals Problem, which imagines a leader passing orders to lieutenants of unreliable loyalty.
“There are challenges they’re all facing,” says Paradigm cofounder Matt Huang, who launched the firm with Coinbase cofounder Fred Ehrsam in 2018. “A lot of these folks are building things that look totally different in shape that what’s down the fairway on Sand Hill Road,” Huang adds, invoking the tech world’s most famous fundraising street where he once worked at top-drawer firm Sequoia.
unifier, at least yet. When Armstrong announced in September that Coinbase wouldn’t tolerate political discussion outside of its financial mission, five percent of his workforceAll the more fuel for Paradigm, a new-look investment firm that has quickly emerged as a leader in the crypto category but has grander ambitions than outsized financial returns.
But investors in Paradigm expect more from Ehrsam and Huang than just another savvy crypto trading shopWith their firm in rapid-hiring mode, its first exit under its belt and some of its startups showing signs of breaking out, theUnder 30 alumni duo insist they’re just ahead of a curve that will soon make you care about crypto and its worldwide potential, too. “We think there is leverage in pouring fuel on the fire,” Ehrsam says. “But we certainly didn’t create the fire.
Coinbase CEO Brian Armstrong is confident his cofounder Fred Ehrsam will find success."I think they're probably going to be one of the top performing funds in the world, but it will take five or 10 years to prove it out."The non-profit endowments of top universities represent the most powerful – and difficult – stamp of approval for new fund managers in venture capital.
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Crypto currency can either make you a broke or a billionaire...
Ever heard of tulips?
Utter delusional twaddle.
nice
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