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The bear market didn’t kill crypto’s winners. It made them easier to identify. That’s the opportunity Austin Barack sees now: “You’ve been able to see this separation of instead of looking at 100 tokens, alright, there’s actually 10 maybe or five that are really, really compelling.” “They’re finding product... show more

Bankless

412,975 subscribers

13,818 次观看 • 29 天前 •via X (Twitter)

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9 条评论

Gerry Plotter 的头像

Gerry Plotter28 天前

@AustinBarack Any mention of $TAO?

Lou 的头像

Lou29 天前

@AustinBarack The list got shorter, not worse

CoinBatmi 的头像

CoinBatmi29 天前

@AustinBarack That's so true. The bear market definitely acted as a filter, cutting out the noise and making it much clearer which projects actually have staying power. Sharp insight.

스카이 DeFi 的头像

스카이 DeFi29 天前

@AustinBarack the hard part now is resisting the 95 tokens that only look cheap

Marcus | Macro Strategist 的头像

Marcus | Macro Strategist29 天前

@AustinBarack finally someone said it

Cluster 的头像

Cluster28 天前

@AustinBarack On-chain accumulation in the surviving few is already visible in the cluster data.

泰坦链 | DeFi 的头像

泰坦链 | DeFi29 天前

@AustinBarack PMF survived

Chaos Launchpad 的头像

Chaos Launchpad29 天前

@AustinBarack The infra era is fading, that's not a fade, that's an overdue eviction notice.

Nick Nagatkin 的头像

Nick Nagatkin28 天前

@AustinBarack bear markets are just expensive due diligence

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base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf and hyperliquid:native may be one of the clearest examples of a broader shift: crypto tokens starting to trade on fundamentals, not just bitcoin:native beta. Austin Barack : “These are businesses that are growing really quickly.” “They’re seeing fundamental value being returned to token holders.” “A lot of them have been growing faster than people expected and were valued cheaper than was reasonable.” “That non-correlated aspect should continue to do well.”

base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf and hyperliquid:native may be one of the clearest examples of a broader shift: crypto tokens starting to trade on fundamentals, not just bitcoin:native beta. Austin Barack : “These are businesses that are growing really quickly.” “They’re seeing fundamental value being returned to token holders.” “A lot of them have been growing faster than people expected and were valued cheaper than was reasonable.” “That non-correlated aspect should continue to do well.”

Bankless

14,891 次观看 • 29 天前

There is a lot of well-deserved skepticism around tokens right now. I believe we are close to the end of the long token bear market. The conditions that made this long bear market inevitable are obvious in hindsight, and all of them are getting better.

There is a lot of well-deserved skepticism around tokens right now. I believe we are close to the end of the long token bear market. The conditions that made this long bear market inevitable are obvious in hindsight, and all of them are getting better.

Felipe Montealegre

44,901 次观看 • 6 个月前

Qullamaggie on Feeling Like a Genius, It's The Market Not You “A melt-up market is when everything is going straight up. And it becomes too easy to make money. You start feeling like a genius — that’s a melt-up market. Trust me, you are not a genius. None of you. It’s the market, not you. No, it’s true. It’s true. Most of my money has come from periods when the market is really good. You just have to line your trading with a period where the market is really good. You know, you gotta be aggressive when the market is really good. Your job is to identify good setups in a good market — and then let the market take care of the rest. Too many people think they are the shit just because they’re making a lot of money. But that’s not really true. It’s the market, not you.”

Qullamaggie on Feeling Like a Genius, It's The Market Not You “A melt-up market is when everything is going straight up. And it becomes too easy to make money. You start feeling like a genius — that’s a melt-up market. Trust me, you are not a genius. None of you. It’s the market, not you. No, it’s true. It’s true. Most of my money has come from periods when the market is really good. You just have to line your trading with a period where the market is really good. You know, you gotta be aggressive when the market is really good. Your job is to identify good setups in a good market — and then let the market take care of the rest. Too many people think they are the shit just because they’re making a lot of money. But that’s not really true. It’s the market, not you.”

Lone

14,021 次观看 • 4 个月前

.Austin Barack says crypto’s infrastructure era is over. “The excitement around new chains, be it layer twos or layer ones, is mostly a thing of the past.” “We’re gonna see 90 plus percent of revenue generated by the applications.” “I think we’re gonna find the most enduring tokens be applications and money.” “It’s gonna really be about applications, usage, and money.”

.Austin Barack says crypto’s infrastructure era is over. “The excitement around new chains, be it layer twos or layer ones, is mostly a thing of the past.” “We’re gonna see 90 plus percent of revenue generated by the applications.” “I think we’re gonna find the most enduring tokens be applications and money.” “It’s gonna really be about applications, usage, and money.”

Bankless

13,473 次观看 • 29 天前

fal CTO Gorkem Yurtseven says generative media just hit "token market fit," with professionals now spending entire workdays generating video with AI: "Since then, it really reached professional level, and we call it token market fit. Generative media has reached token market fit." "Can a single person productively spend a lot of tokens doing their work? Only coding agents have this in the AI market. No other AI sub-industry can spend this many tokens as video generation or coding agents." "People are now sitting in front of a computer at work and generating video all day long. They are willing to spend all these tokens doing their work, and this is the biggest change in generative media in the last year." fal

fal CTO Gorkem Yurtseven says generative media just hit "token market fit," with professionals now spending entire workdays generating video with AI: "Since then, it really reached professional level, and we call it token market fit. Generative media has reached token market fit." "Can a single person productively spend a lot of tokens doing their work? Only coding agents have this in the AI market. No other AI sub-industry can spend this many tokens as video generation or coding agents." "People are now sitting in front of a computer at work and generating video all day long. They are willing to spend all these tokens doing their work, and this is the biggest change in generative media in the last year." fal

MTS

19,486 次观看 • 7 天前

Majority 54’s Jason Kander breaks down why some Republicans are suddenly breaking with Trump: Look, there’s very few elected Republicans who ever actually really liked Trump. I mean, the vast majority of them were either scared of him, or they recognized that he was useful to them. And so he was only as good as he was useful to them. And now he’s the opposite of useful. Now he’s a giant albatross around their neck. And so, you know, they’re looking at this and they’re saying, ‘Okay, well, what do I do now?’ And I think that for a lot of them, they’re finally seeing, like, ‘Oh, there’s not much use for this guy anymore.’

Majority 54’s Jason Kander breaks down why some Republicans are suddenly breaking with Trump: Look, there’s very few elected Republicans who ever actually really liked Trump. I mean, the vast majority of them were either scared of him, or they recognized that he was useful to them. And so he was only as good as he was useful to them. And now he’s the opposite of useful. Now he’s a giant albatross around their neck. And so, you know, they’re looking at this and they’re saying, ‘Okay, well, what do I do now?’ And I think that for a lot of them, they’re finally seeing, like, ‘Oh, there’s not much use for this guy anymore.’

MeidasTouch

39,512 次观看 • 13 天前

The Optimus numbers are hard to believe. Elon puts the market for humanoid robots at more than 10 billion units, bigger than the human population. At $20,000 each that is a $200 trillion market. “The optimist numbers, they’re really just so mind-blowing… the market for humanoid robots is in excess of 10 billion units… If they do sell for $20,000, that’s $200 trillion… That’s why I wonder what does money even mean at that point.” -- Elon Musk

The Optimus numbers are hard to believe. Elon puts the market for humanoid robots at more than 10 billion units, bigger than the human population. At $20,000 each that is a $200 trillion market. “The optimist numbers, they’re really just so mind-blowing… the market for humanoid robots is in excess of 10 billion units… If they do sell for $20,000, that’s $200 trillion… That’s why I wonder what does money even mean at that point.” -- Elon Musk

Joe Hansen

128,871 次观看 • 2 个月前

Head coach Dave Aranda's full quote on what he would say to frustrated fans: "We’ve got a bunch of really, really good people in the program that are doing everything they can to get wins and to make it an entertaining product for the fans. It means so much when there are fans there and there’s a home-field environment. I look at the guys that are on our team right now, who have been through so much and are such quality football — really good football players — more than that, but just quality people. They’re the type of people that maybe some of the people who are talking about them knew them better, would be all for them, and support them no matter what. I think for them, to have it where their work is being rewarded with people that got their back in a critical game would be cool, but I understand what you’re saying. I can definitely see that."

Head coach Dave Aranda's full quote on what he would say to frustrated fans: "We’ve got a bunch of really, really good people in the program that are doing everything they can to get wins and to make it an entertaining product for the fans. It means so much when there are fans there and there’s a home-field environment. I look at the guys that are on our team right now, who have been through so much and are such quality football — really good football players — more than that, but just quality people. They’re the type of people that maybe some of the people who are talking about them knew them better, would be all for them, and support them no matter what. I think for them, to have it where their work is being rewarded with people that got their back in a critical game would be cool, but I understand what you’re saying. I can definitely see that."

Baylor Bears on SicEm365

13,294 次观看 • 11 个月前

Why Yan Ivnitskiy is bullish on $VVV at ~$800M Yan thinks VVV's market cap is the better measure than FDV "market cap and FDV isn't always made equal... [Venice] is one of those scenarios where market cap is actually probably a better representation of the value. ...so then you're looking at pretty low multiples on that front ...And I could see a world where by the end of the year, the token is deflationary"

Why Yan Ivnitskiy is bullish on $VVV at ~$800M Yan thinks VVV's market cap is the better measure than FDV "market cap and FDV isn't always made equal... [Venice] is one of those scenarios where market cap is actually probably a better representation of the value. ...so then you're looking at pretty low multiples on that front ...And I could see a world where by the end of the year, the token is deflationary"

Bankless

39,513 次观看 • 4 个月前

Your brand has benefits people actually need to know, so why are you making them sit through an infomercial to learn them? I think one of the biggest opportunities with drama ads is making educational content actually entertaining. Instead of saying “here are the 5 benefits of our product,” build a story around someone who actually has the problem your product solves. Let the audience watch the problem happen. Let them get invested in the person. Then bring the product into the story naturally and show them why it matters. You’re still educating them. You’re just not making the education feel exhausting… And this is where watch time gets really interesting. If someone watches 45 seconds of your ad because they actually want to know what happens next, you just got 45 seconds to communicate your product without forcing a sales pitch down their throat. Now imagine doing that at scale. People are watching longer. They’re engaging. They’re sharing. Meta gets more signals from the creative and more opportunity to find the people who respond to it. That’s when you can start seeing really cheap CPMs and, in turn, some ridiculously cheap CPAs. Not because you found some secret targeting hack. Because you made something people actually wanted to watch & share with their friends. I think that’s where the future of advertising is going. Make the story interesting enough that people actually want to finish the ad. The education is still there. They just don’t feel like they’re being sold to…

Franky Shaw

44,780 次观看 • 17 天前

.Marc Andreessen 🇺🇸 on the fight against banning open-source AI: “There’s a real move underway to ban open-source, specifically open-source AI, and specifically the math under AI, which is fairly mind-boggling for me as an engineer. It’s not that complicated. It’s linear algebra. It’s gradient descent. These are fairly basic algorithms. They’re taught broadly in schools today. My nine-year-old is starting to learn this stuff. There are videos on YouTube that teach you how to do this. There’s textbooks. Half the kids in the Stanford freshman class are taking the intro to AI course, and they’re learning this stuff. But there are serious discussions in Washington, and they’re disconcerting on this topic because they seriously talk about this. And then there are outright bans, and there’s also what I call the potential for this stifling blanket of regulation. The precedent for that is what’s happened in the EU, where they’ve actually done this. They’ve actually implemented a stifling blanket of regulation, including most recently on AI. And the result? They’ve effectively outlawed, to a large extent, they’ve outlawed technology startups in the EU. The market has responded. There’s a handful that are really good, but there are not very many. Europe used to be amazing. Half the great tech companies in the world used to be in Europe, and now it’s down to a very small number. We have this real-life cautionary example of how this can go bad. And then we have a fair number of people in the US and in California, which is amazing, who basically want to adopt the EU model, and they’re lobbying very hard to do that. Some of those people, by the way, are true believers. They really believe that there’s a profound societal threat or existential threat, or various other kinds of threats. They really believe it—you can see it in their eyes. And then there’s a bunch of other people that have commercial self-interest. They want to establish monopolies or cartels of different kinds. They want there to be government protection for their business. And so there’s this unholy alliance that has formed between these two groups. We just had this real fight in California.”

.Marc Andreessen 🇺🇸 on the fight against banning open-source AI: “There’s a real move underway to ban open-source, specifically open-source AI, and specifically the math under AI, which is fairly mind-boggling for me as an engineer. It’s not that complicated. It’s linear algebra. It’s gradient descent. These are fairly basic algorithms. They’re taught broadly in schools today. My nine-year-old is starting to learn this stuff. There are videos on YouTube that teach you how to do this. There’s textbooks. Half the kids in the Stanford freshman class are taking the intro to AI course, and they’re learning this stuff. But there are serious discussions in Washington, and they’re disconcerting on this topic because they seriously talk about this. And then there are outright bans, and there’s also what I call the potential for this stifling blanket of regulation. The precedent for that is what’s happened in the EU, where they’ve actually done this. They’ve actually implemented a stifling blanket of regulation, including most recently on AI. And the result? They’ve effectively outlawed, to a large extent, they’ve outlawed technology startups in the EU. The market has responded. There’s a handful that are really good, but there are not very many. Europe used to be amazing. Half the great tech companies in the world used to be in Europe, and now it’s down to a very small number. We have this real-life cautionary example of how this can go bad. And then we have a fair number of people in the US and in California, which is amazing, who basically want to adopt the EU model, and they’re lobbying very hard to do that. Some of those people, by the way, are true believers. They really believe that there’s a profound societal threat or existential threat, or various other kinds of threats. They really believe it—you can see it in their eyes. And then there’s a bunch of other people that have commercial self-interest. They want to establish monopolies or cartels of different kinds. They want there to be government protection for their business. And so there’s this unholy alliance that has formed between these two groups. We just had this real fight in California.”

Arjun Khemani

91,352 次观看 • 1 年前

Marc Andreessen explains the 3 Necessities for Start-up Success: "The general criteria for a successful high-tech startup, in my view, you see different sort of rules of thumb from different people. But the three big things you always come back to are, is there a big market? And by the way, that comes in two parts. Is there a big existing market that you think you can go after and sort of displace incumbents or do you believe there will be a new market that will be big? So big market. Is there a fundamental technology or economic change that causes you to basically justify having a new company? And that's really important. And the way I always think about that is, is there a 10X change happening in the technology landscape? Is something 10X faster or 10X cheaper or 10X better? And if it's not 10X, we as both VCs and entrepreneurs, we really have to ask ourselves like, is it really worth doing? Because it's really hard. I mean, it's really hard to start new companies. new companies generally shouldn't exist. Existing companies are usually pretty good at what they do. And so for a new company to exist, it not only has to like come in and go into business and bring a product to market, but it has to bring a product to market that's so much better than what already exists that it punches through the sort of status quo. And most customers in most markets are pretty happy buying from the current suppliers and so there has to be a real kind of edge on the thing and we look for that in either a technology change, usually a technology change or an economic change. which are often the same thing. And then the third is team. Is the team outstanding? And if you think about this as an entrepreneur, it becomes a question of the founding team. Some companies are solo founders and they can work, but generally most of us, like myself, we're human beings, we're mortal. You want to have a founding team of complementary skill sets. And so you want to have at least one super strong technologist, quite possibly more than one. Some of the best startups are actually more than one founding technologist and then it often helps to have somebody who's like a product or who's a market or sales person or has a sort of really good understanding of business on the team, certainly helps a lot. And so we sort of look at market, product, and team. And the reality is you need all three. I would say, interestingly, if you're going to compromise as an investor, if we're going to compromise on one of those, it would actually be the product. And the reason I say that is because a great market is a lot easier to make up for with iterative product execution than a poor market. Because the problem with a poor market, a small market, is even if you do a great job on the product, there just aren't that many customers. It's hard to ever get big."

Marc Andreessen explains the 3 Necessities for Start-up Success: "The general criteria for a successful high-tech startup, in my view, you see different sort of rules of thumb from different people. But the three big things you always come back to are, is there a big market? And by the way, that comes in two parts. Is there a big existing market that you think you can go after and sort of displace incumbents or do you believe there will be a new market that will be big? So big market. Is there a fundamental technology or economic change that causes you to basically justify having a new company? And that's really important. And the way I always think about that is, is there a 10X change happening in the technology landscape? Is something 10X faster or 10X cheaper or 10X better? And if it's not 10X, we as both VCs and entrepreneurs, we really have to ask ourselves like, is it really worth doing? Because it's really hard. I mean, it's really hard to start new companies. new companies generally shouldn't exist. Existing companies are usually pretty good at what they do. And so for a new company to exist, it not only has to like come in and go into business and bring a product to market, but it has to bring a product to market that's so much better than what already exists that it punches through the sort of status quo. And most customers in most markets are pretty happy buying from the current suppliers and so there has to be a real kind of edge on the thing and we look for that in either a technology change, usually a technology change or an economic change. which are often the same thing. And then the third is team. Is the team outstanding? And if you think about this as an entrepreneur, it becomes a question of the founding team. Some companies are solo founders and they can work, but generally most of us, like myself, we're human beings, we're mortal. You want to have a founding team of complementary skill sets. And so you want to have at least one super strong technologist, quite possibly more than one. Some of the best startups are actually more than one founding technologist and then it often helps to have somebody who's like a product or who's a market or sales person or has a sort of really good understanding of business on the team, certainly helps a lot. And so we sort of look at market, product, and team. And the reality is you need all three. I would say, interestingly, if you're going to compromise as an investor, if we're going to compromise on one of those, it would actually be the product. And the reason I say that is because a great market is a lot easier to make up for with iterative product execution than a poor market. Because the problem with a poor market, a small market, is even if you do a great job on the product, there just aren't that many customers. It's hard to ever get big."

Founder Mode

39,005 次观看 • 8 个月前

JAY and his MINDSET 💎🤌🏻 🐈‍⬛: i think i’ve said this before… if you want to become a complete artist, if you want to become the best artist, then you should first try being the best fan and i really think that’s true 🐈‍⬛: if you’ve never actually been a fan yourself, then as an artist there’s a limit to how fully you can understand what fans are really feeling or how they’re looking at and supporting you 🐈‍⬛: from an artist’s perspective, there’s definitely a limit at least that’s how i feel there’s definitely a wall there and eventually you’ll run into it 🐈‍⬛: i genuinely think that if you’ve never been a fan yourself, there’s no real way to truly know 🐈‍⬛: that’s why as someone who’s spent my life being a fan of all kinds of things… sports, people, music… i’ve experienced all sorts of fandoms and interests and i think that’s why i feel this more strongly than anyone 🐈‍⬛: when you become a fan yourself, you realize it’s not actually that complicated 🐈‍⬛: if i’ve personally been a fan and experienced the things i desperately wished for, then all i have to do is create those same things for others. what could be easier than that?

JAY and his MINDSET 💎🤌🏻 🐈‍⬛: i think i’ve said this before… if you want to become a complete artist, if you want to become the best artist, then you should first try being the best fan and i really think that’s true 🐈‍⬛: if you’ve never actually been a fan yourself, then as an artist there’s a limit to how fully you can understand what fans are really feeling or how they’re looking at and supporting you 🐈‍⬛: from an artist’s perspective, there’s definitely a limit at least that’s how i feel there’s definitely a wall there and eventually you’ll run into it 🐈‍⬛: i genuinely think that if you’ve never been a fan yourself, there’s no real way to truly know 🐈‍⬛: that’s why as someone who’s spent my life being a fan of all kinds of things… sports, people, music… i’ve experienced all sorts of fandoms and interests and i think that’s why i feel this more strongly than anyone 🐈‍⬛: when you become a fan yourself, you realize it’s not actually that complicated 🐈‍⬛: if i’ve personally been a fan and experienced the things i desperately wished for, then all i have to do is create those same things for others. what could be easier than that?

샐마•𝗘𝗡╸⁷

18,749 次观看 • 3 个月前

Buttigieg: You’ve got a president and a Republican Congress who would rather see the entire government shut down than allow Americans to afford their healthcare. It really comes down to that. Basically, what they’re saying is: we’ll only keep the government open if you Democrats vote against one of your core principles—making sure people can afford healthcare. The problem, of course, is that this president and this Republican Congress are also happy to see the federal government destroyed. They’re giddy about being able to do even more damage in the context of a shutdown. That’s exactly the kind of chaos this president brings every single day—and what I think Americans are more and more fatigued with.

Buttigieg: You’ve got a president and a Republican Congress who would rather see the entire government shut down than allow Americans to afford their healthcare. It really comes down to that. Basically, what they’re saying is: we’ll only keep the government open if you Democrats vote against one of your core principles—making sure people can afford healthcare. The problem, of course, is that this president and this Republican Congress are also happy to see the federal government destroyed. They’re giddy about being able to do even more damage in the context of a shutdown. That’s exactly the kind of chaos this president brings every single day—and what I think Americans are more and more fatigued with.

Acyn

232,810 次观看 • 1 年前

TAO Co-Founder: AI people are normies, Crypto people are freedom fighters “You can’t get funding from Sam Altman, the guy who’s trying to enslave us, and then pretend to be like ‘freedom technology.’ Like, what are you trying to do? It just seemed odd” “People fucking hate crypto people sometimes, but also deep down we’re freedom fighters. And that’s why Worldcoin didn’t work, because we’re permeated by people that actually believe in freedom. That’s who we are” “The AI people who think they’re so hot and high and mighty, they’re just normies. They’re all blue church people. I love them to death, they’re all very smart, but they’re not freedom people. They don’t really grasp geopolitics, they don’t really understand, and they don’t really care” “They’re just gonna go work, make their money, and go play their board games. But crypto people are renegades. You can’t try to do Worldcoin on us. It’s not gonna work”

TAO Co-Founder: AI people are normies, Crypto people are freedom fighters “You can’t get funding from Sam Altman, the guy who’s trying to enslave us, and then pretend to be like ‘freedom technology.’ Like, what are you trying to do? It just seemed odd” “People fucking hate crypto people sometimes, but also deep down we’re freedom fighters. And that’s why Worldcoin didn’t work, because we’re permeated by people that actually believe in freedom. That’s who we are” “The AI people who think they’re so hot and high and mighty, they’re just normies. They’re all blue church people. I love them to death, they’re all very smart, but they’re not freedom people. They don’t really grasp geopolitics, they don’t really understand, and they don’t really care” “They’re just gonna go work, make their money, and go play their board games. But crypto people are renegades. You can’t try to do Worldcoin on us. It’s not gonna work”

Mikli

60,389 次观看 • 6 个月前

Tim Dillon: “The government is telling you there are underground alien bases in the ocean.” “And no one really cares.” “This is all a distraction.” “We’re in a war with Iran.” “The rest of the Epstein files are not gonna see the light of day.” “There’s gonna be no prosecutions.” “They’re not even gonna investigate any of that.” “Gas prices are dramatically rising.” “The cost of food is rising.” “They could have disclosed this a long time ago.” “They’re disclosing it now because they want people to go crazy.” “They’re actually trying to terrify you and drive you insane now.” “They want you to have a nervous breakdown.” “They’re trying to induce like a mass panic.” Tim Dillon

Tim Dillon: “The government is telling you there are underground alien bases in the ocean.” “And no one really cares.” “This is all a distraction.” “We’re in a war with Iran.” “The rest of the Epstein files are not gonna see the light of day.” “There’s gonna be no prosecutions.” “They’re not even gonna investigate any of that.” “Gas prices are dramatically rising.” “The cost of food is rising.” “They could have disclosed this a long time ago.” “They’re disclosing it now because they want people to go crazy.” “They’re actually trying to terrify you and drive you insane now.” “They want you to have a nervous breakdown.” “They’re trying to induce like a mass panic.” Tim Dillon

Holden Culotta

123,489 次观看 • 5 个月前