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TitreDateDurée
Leslie Lamport on the Science of Distributed Systems25 juin 202600:36:22

Before blockchains could reach consensus, Leslie Lamport had to define what agreement even meant when computers fail, lie, or disappear. 

In this episode of First Principles: The Scientific Roots of Blockchain Technology, Turing Award-winning computer scientist Leslie Lamport joins Tim Roughgarden Head of Research at a16z crypto and Professor of Computer Science at Columbia University, and a16z crypto Research Partner Ittai Abraham to trace the ideas that helped define modern distributed computing. 

Lamport’s work formalized some of the field’s deepest questions: how to reason about concurrent systems, how distributed systems can agree despite failures, and how to prove that protocols do what they are supposed to do. His work on logical clocks, state machine replication, the Byzantine Generals problem, and Paxos has shaped everything from cloud infrastructure to the consensus protocols underlying modern blockchains. 

The conversation begins with Lamport’s early work on concurrency and the origins of the Byzantine Generals Problem, and then turns to fault tolerance: what happens when machines crash, behave unpredictably, or even act maliciously? We also cover the feedback loop between theory and practice, the long arc of fundamental research, and how blockchains are inheriting and extending decades of distributed systems work. 

Highlights 

00:00 – Intro: The problem every blockchain is built to solve 
02:52 – Why concurrent systems are surprisingly tricky 
04:40 – The origins of the bakery algorithm 
07:37 – What does it mean for a protocol to be “correct”? 
12:03 – The origins of the Byzantine Generals problem — and what happens when some computers fail 
17:49 – How Paxos emerged from an attempted impossibility proof 
23:47 – Why theory and practice need each other 
33:48 – Government funding, DARPA, and the long arc of foundational research 

About First Principles 
First Principles is a special limited series from a16z crypto about the scientific roots of modern computing — especially blockchains — told through rare conversations with the pioneers who helped shape the foundational ideas behind distributed systems, consensus protocols, economics, mechanism design, cryptography, zero knowledge, and more. 

People often tell the story of the Bitcoin whitepaper as if it appeared out of nowhere. But the ideas behind Bitcoin — and blockchains more broadly — come from decades of computer science, economics, mathematics, and cryptography. First Principles is a guide to that lineage, as told by the people who helped build it. 

Hear more from: 
Tim Roughgarden: https://twitter.com/Tim_Roughgarden 
Ittai Abraham: https://twitter.com/ittaia 

Follow a16z crypto: 
X: https://twitter.com/a16zcrypto 
LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
YouTube: https://www.youtube.com/@a16zcrypto 
Substack: https://a16zcrypto.substack.com/subscribe/ 

*** 
As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Before Blockchains, There Was State Machine Replication (ft. Barbara Liskov and Tim Roughgarden)22 juin 202600:35:46

Every blockchain today leans on replication ideas worked out in the 1980s, by a Turing Award winner who wasn’t thinking about how it might apply to money at all. 

In this episode of First Principles, a16z crypto Head of Research and Columbia professor Tim Roughgarden speaks with Barbara Liskov, MIT professor, Turing Award winner, and one of the most influential computer scientists in programming languages, data abstraction, fault tolerance, and distributed computing. a16z crypto research partner Ittai Abraham joins the conversation. 

The discussion traces Liskov’s path from programming languages and modularity to distributed systems research; from CLU and Argus to viewstamped replication; and from benign failures to Practical Byzantine Fault Tolerance, or PBFT — a protocol family whose ideas now shape many modern blockchain systems. Liskov explains why modularity matters, how systems researchers thought about replication in the 1980s, why view changes were such a key idea, and how PBFT extended earlier work to handle malicious behavior on the internet. 

The conversation also explores the bridge between theory and practice, the importance of proofs and specifications, and why the next generation of systems research may be reshaped by AI. First Principles is a special, limited series from a16z crypto about the scientific roots of modern computing — especially blockchains — told through rare conversations with the pioneers who helped shape the foundational ideas behind distributed systems, consensus protocols, economics, mechanism design, cryptography, zero-knowledge, and more. People often tell the story of the Bitcoin whitepaper as if it appeared out of nowhere. But the ideas behind Bitcoin — and behind blockchains more broadly — come from decades of computer science, economics, mathematics, and cryptography. 

First Principles is a guide to that lineage, as told by the people who helped build it. 

Highlights: 

00:00 Intro: How do systems stay reliable when parts fail? 
01:18 Barbara Liskov’s path from programming languages to distributed systems 
05:45 Why modularity is “everything” 
07:22 The replication problem: keeping data available across many machines 09:58 Viewstamped replication and the “ledger” before blockchains 
16:32 Why good research starts with what you don’t understand 
18:10 Leslie Lamport, Paxos, and the inevitability of ideas in the right time, in the right place 
21:48 Practical Byzantine Fault Tolerance: what changes when replicas can lie 
19:35 How PBFT bridged theory and practical systems 
22:38 Why you should never trust an individual replica 
28:39 Why blockchains are state machine replication in the wild 
31:27 AI, verification, and the future of computer science 

Follow: 
Tim Roughgarden: https://twitter.com/Tim_Roughgarden 
Ittai Abraham: https://twitter.com/ittaia 

Follow a16z crypto: X: https://twitter.com/a16zcrypto 
LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
YouTube: https://www.youtube.com/@a16zcrypto 
Substack: https://a16zcrypto.substack.com/subscribe/ 

*** As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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How Bitcoin Rewired a Classic Computer Science Problem (ft. Tim Roughgarden and Ittai Abraham)22 juin 202600:20:00

Bitcoin often gets credited with inventing trustless consensus. It didn’t. 

The problem was named decades earlier — in the world of distributed computing — and researchers spent years studying how machines could reach agreement even when some participants were faulty, adversarial, or corrupt. What Bitcoin did was something different: It solved a classic Byzantine agreement problem in a radically new, permissionless setting. And it took the research world years to fully recognize what Satoshi had done.

In this episode of First Principles, a16z crypto Head of Research and Columbia professor Tim Roughgarden is joined by a16z crypto research partner Ittai Abraham — one of the world’s leading researchers in Byzantine agreement and consensus protocols, a founding member of VMware’s blockchain project, and founder of the technical blog Decentralized Thoughts — to unpack the scientific roots of blockchain consensus. 

Together, Tim and Ittai trace the line from classic distributed systems research to Bitcoin, proof-of-stake, Tendermint, Casper, DAG-based protocols, Solana’s Alpenglow, and the modern race for higher throughput and lower latency. Along the way, they explain why concepts like Byzantine fault tolerance, state machine replication, safety, liveness, and partial synchrony are not just academic abstractions — they are the language and design principles behind today’s blockchain protocols. 

This conversation kicks off First Principles: The Scientific Roots of Blockchain Technology — a special, limited series from a16z crypto on the scientific ideas behind modern computing — especially blockchains — told through conversations with the pioneers who helped create them, including Barbara Liskov, Leslie Lamport, and more. Hosted by Tim Roughgarden, the series explores the foundational concepts behind distributed systems and consensus protocols; economics, mechanism and market design; and cryptography, from digital signatures to zero knowledge. People often tell the story of the Bitcoin whitepaper as if it appeared out of nowhere. 

But the ideas behind Bitcoin — and behind blockchains more broadly — come from decades of computer science, economics, mathematics, and cryptography. First Principles is a guide to that lineage, told by the people who helped build it. 

Highlights 

00:00 Introduction to First Principles: The Scientific Roots of Blockchain Technology 
00:56 Why consensus matters for blockchains 
02:30 Byzantine agreement: The old computer science problem Bitcoin made practical 
04:34 Blockchains as a shared system of record: State machine replication and blockchain state 
06:41 How two research worlds — distributed computing and crypto — began to converge 
07:49 Proof of work vs. proof of stake 
09:27 Why Ethereum’s move to proof-of-stake took years 
11:08 When crypto rediscovered decades of distributed systems research 
11:50 Why BFT became practical 12:49 Throughput, latency, and modern consensus design 
14:05 DAG-based protocols and faster blockchains 
15:25 Peace time vs. war time: why modern blockchains need two modes 
16:47 Theory, practice, and the future of blockchain research 
 

Follow: 

Tim Roughgarden: https://twitter.com/Tim_Roughgarden 
Ittai Abraham: https://twitter.com/ittaia 

Follow a16z crypto: 

X: https://twitter.com/a16zcrypto 
LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
YouTube: https://www.youtube.com/@a16zcrypto 
Substack: https://a16zcrypto.substack.com/subscribe/ 

** 
As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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How Stablecoins Are Reconfiguring the Financial System | ft. Eddy Lazzarin and Sonal Chokshi12 juin 202601:20:18

Crypto has been walled off from the real economy for years — that's changing. 

Sonal Chokshi and Robert Hackett sit down with Eddy Lazzarin, a16z crypto's newest General Partner, to break down why crypto is entering a completely different phase and what gets built once the rules finally catch up to the technology. 

The discussion spans: 

- what the CLARITY Act actually does and why it changes the design space for crypto founders 
- the difference between a network token and a security, and why it needs to be written into law 
- why stablecoins are crypto's first real killer app and how the rest of the economy is reconfiguring around them 
- how tokens let builders decouple pricing from growth in a way stocks never could 
- why 97.8% of the value created in capitalism leaks out, and what that means for anyone trying to capture any of it 

Highlights: 
00:00 Intro 
01:25 What it means to be a GP 
02:00 Consensus vs. non-consensus bets 
04:27 Network tokens and the CLARITY Act 
09:35 Revenue, value capture, and network-token business models 
21:18 Stablecoins as crypto’s first killer app 
28:52 Engineer-philosopher mindset 39:04 Intellectual influences 
52:40 Eddy’s path to crypto 1:03:15 The exuberant adoption phase of AI 
1:14:38 Being "pro–AI psychosis" 

Follow: Eddy Lazzarin: https://twitter.com/eddylazzarin 
Sonal Chokshi: https://twitter.com/smc90 
Robert Hackett: https://twitter.com/rhackett 

Follow a16z crypto: 
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LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
YouTube: https://www.youtube.com/@a16zcrypto 
Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ 

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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The Real Reason Behind Most DeFi Hacks13 mai 202600:35:28

Following a string of major DeFi exploits, we unpack what’s driving the recent rise in hacks across crypto.

a16z crypto GP Eddy Lazzarin and security engineer Matt Gleason join host Robert Hackett to take a closer look. Their argument: AI is not introducing entirely new vulnerabilities. It is making existing weaknesses easier to identify and exploit. The question is whether defenders can evolve as quickly as attackers.

They also cover:

- why “AI-powered hacking” is difficult to measure
- how geopolitical tensions may be influencing cyber activity
- why defenders should be aggressively stress-testing their own systems
- how AI could eventually outperform humans at resisting social engineering
- what users can do today to protect themselves online

 

Timestamps:

00:00 - Intro
00:57 - The surge, explained
01:37 - Did attackers use AI
04:19 - How AI can help defend against attacks
09:16 - The doomsday marketing debate
17:17 - DeFi transparency: opportunities and challenges
21:00 - Social engineering and how to stay safe

 

Follow along here:
Eddy Lazzarin: https://twitter.com/eddylazzarin
Robert Hackett: https://twitter.com/rhackett
Matt Gleason: https://twitter.com/mg_486662

Follow a16z crypto:
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As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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We Raised $2.2B. Here’s Why.05 mai 202601:00:31

We're announcing a16z crypto's Fund 5: $2.2B in committed capital to back the startups and founders who are building the next era of crypto. All four GPs sat down to talk through where crypto is right now, what's changed, and where it may be headed next. Chris Dixon, Ali Yahya, Guy Wuollet, and Eddy Lazzarin join Robert Hackett to cover...

00:00 Open 
01:31 Why raise Crypto Fund 5 now 
02:10 The GENIUS Act and what regulatory clarity unlocks for builders 
04:32 Why stablecoins are crypto's WhatsApp moment 
08:54 Why the next era of crypto founders will be pragmatic, not ideological 
11:49 From cypherpunk revolution to crypto's "collared shirt era" 
15:02 Programmable money meets AI 
21:15 Onchain capital markets for compute, energy, and credit 
25:57 Why finance is the foundation, not the ceiling 
28:48 AI agents as first-class economic actors 
38:19 Why privacy is the only moat 
41:26 Jevons paradox and the future of blockspace demand 
43:20 Jolt and the zero-knowledge breakthrough 
58:15 Writing the next chapter of Read Write Own

Resources: 
Chris Dixon: https://x.com/cdixon
Ali Yahya: https://x.com/alive_eth
Eddy Lazzarin: https://x.com/eddylazzarin
Guy Wuollet: https://x.com/guywuolletjr
Robert Hackett: https://x.com/rhackett

Follow a16z crypto: X: https://x.com/a16zcrypto 
LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
YouTube: https://www.youtube.com/@a16zcrypto

Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/

 

*** 
As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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The end of ads? AI agents are about to change how we buy27 avr. 202600:57:09

Agents can now do almost anything a human can do with a computer. So what happens when they start spending money on your behalf?

Sam Ragsdale (founder and CEO of Merit Systems, a startup building infrastructure for the agentic economy) joins a16z crypto's Eddy Lazzarin, Noah Levine, and Robert Hackett on the open agentic commerce stack, and why the internet's business model is about to get rewired.

00:00 – Intro 
01:33 – Two flavors of agentic commerce 
04:30 – What is an agent, actually? 
12:57 – The headless merchant thesis 
17:17 – What happens to existing friction? 
24:45 – The economic contract of the web is broken 
27:46 – Will agents get distracted by ads? 
35:152– Stablecoins vs. credit cards 
41:54 – Sam's bear case on interchange 
49:11 – The killer app for agentic commerce
 

Sam Ragsdale on X: /samrags_ 
Eddy Lazzarin on X: /eddylazzarin 
Noah Levine on X: /nlevine19 
Robert Hackett on X: /rhackett 
 

Follow a16z crypto: /a16zcrypto 
Subscribe for more news and updates: a16zcrypto.substack.com


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Why AI is so centralized: How it's built, who controls it, and what comes next22 avr. 202600:17:23

A few big companies control most of the infrastructure behind AI.

Most people experience AI through a wide range of different apps that actually depend on a deeply centralized stack of data and compute. In this conversation, Ben Fielding and Harry Grieve — cofounders of decentralized machine learning protocol Gensyn — explain why this matters, and what it would take to rebuild AI as open infrastructure instead.

From unused global compute to the philosophical implications of machine intelligence, they argue that the next evolution of AI must be owned, coordinated, and verified in a fundamentally different way.

Highlights 
00:00 – Intro 
00:29 – The biggest misconception about AI infrastructure 
01:20 – Why centralization in AI is a deeper problem than people realize 
04:19 – Why AI needs crypto 
05:51 – How AI models are trained 
08:15 – The rise of autonomous AI agents with onchain identities 
10:37 – Lightning round

Ben Fielding on X: https://x.com/benfielding 
Harry Grieve on X: https://x.com/harrygrieve 
Gensyn on X: https://x.com/gensynai 
Follow a16z crypto on X: https://x.com/a16zcrypto 
Subscribe for more news and updates: a16zcrypto.substack.com

 


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How Bots, Deepfakes and AI Agents Are Forcing a New Internet Identity Layer17 avr. 202600:42:13

The internet already has a bot problem — and it's just getting worse.

a16z's Ben Horowitz and Erik Torenberg speak with Alex Blania of Tools for Humanity. World is building the largest real human network, a proof-of-human layer for the AI era. They cover the technical challenge of proving human uniqueness at scale using iris biometrics, the privacy architecture behind World ID, and why platforms from social networks to dating apps to video conferencing will soon require proof of human verification.

Timestamps: 

  • 0:00—Introduction 
  • 4:07—Three Big Ideas People Were Interested In 
  • 9:05—The Orb Verification Piece 
  • 15:20—Social Media Bots: PSYOPs and Propaganda 
  • 29:18—We Had Proof of Personhood for the Longest Time 
  • 36:44—Next Year Go-to-Market Is Focused on the US 
  • 40:09—Different Levels of Verification

Resources: 

Follow Alex Blania on X: / alexblania 
Follow Ben Horowitz on X: / bhorowitz 
Follow Erik Torenberg on X: / eriktorenber

Follow a16z crypto for more... 
X: https://x.com/a16zcrypto 
LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 
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Substack: https://a16zcrypto.substack.com/subscribe/

 

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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How DeFi lending actually works (with Paul Frambot, cofounder and CEO of Morpho Labs)08 avr. 202600:18:25

What if the future of lending doesn’t need banks at all?

Paul Frambot, cofounder and CEO of Morpho, explains what it means to build lending infrastructure without banks, and why DeFi’s real breakthrough isn’t “risk-free” loans, but open, onchain markets that make lending more transparent, competitive, and efficient.

In this conversation, Paul breaks down the biggest misconception in DeFi lending, how to think about risk onchain, why institutions are learning faster than expected, and where banks, asset managers, fintechs, and stablecoins fit into the next wave of adoption.

He also shares his long-term vision for finance: a world where open blockchain infrastructure replaces siloed financial systems, access to capital gets broader, and financial products become cheaper, more personalized, and easier to build.

Highlights: 

  • 0:00 Intro 
  • 0:36 What Morpho actually does 
  • 1:22 DeFi’s biggest misconception 
    5:26 Why Wall Street is paying attention now 
  • 6:46 Who’s adopting onchain finance first: Banks or asset managers? 
  • 9:57 The race for a Euro stablecoin 
  • 10:49 The future of finance, 5–10 years out 
  • 11:16 Why finance is still broken 
  • 13:30 What open mortgage and credit markets could become on open blockchains 
  • 15:14 The worst advice Paul's received as a founder 
  • 17:17 What's wrong with an $8 croissant (besides the obvious)

Follow a16z crypto for more... 

X: https://x.com/a16zcrypto 

LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 

YouTube: https://www.youtube.com/@a16zcrypto 

Substack: https://a16zcrypto.substack.com/subscribe/

 

*** As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Why Solana keeps getting faster — and what's next (ft. Jito Labs CEO Lucas Bruder)03 avr. 202600:18:01

What if opening a trading account was as easy as downloading an app? 

Lucas Bruder, CEO of Jito — a Solana-based liquid staking protocol — breaks down why he thinks all of finance is moving onchain, and what his small team is doing to make that happen. 

During the 2022-2023 bear market, Jito was getting pitched constantly to jump ship to other chains. Lucas explains why they turned everything down, doubled down on Solana, and chewed a lot of glass. 

We also cover how Jito acts like a Cloudflare for Solana, why cheap transactions create surprising problems, what convinced Lucas that the Solana engineers were in it for the right reasons, and his vision for a financial system anyone can access with just a phone. 

Follow Jito: https://www.jito.network/ 

Follow Lucas: https://x.com/buffalu__ 

Highlights 

  • 0:00 — Intro 
  • 0:49 — What is Jito and why does it exist 
  • 1:11 — Why Solana transactions are less than a penny 
  • 2:00 — What attracted Lucas to Solana from Ethereum 
  • 2:39 — How Jito is like Cloudflare for blockchains 
  • 5:02 — The $1,500 Ethereum transaction fee problem 
  • 7:21 — The vision: all of finance onchain 
  • 7:46 — Onchain vs. opening a Robinhood account 
  • 8:37 — Lucas's journey from robotics to crypto 
  • 9:55 — Solana's rate of improvement and Anatoly's Law 
  • 10:44 — The pitch for people new to crypto 
  • 15:00 — Staying lean at 21 people 
  • 15:17 — Nicotine as a productivity hack 
  • 15:58 — Sleep, alcohol, and the Oura ring 
  • 16:40 — Smallest hill you'll die on: littering and shopping carts 

Follow a16z crypto for more... 

X: https://x.com/a16zcrypto 

LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 

YouTube: https://www.youtube.com/@a16zcrypto 

Substack: https://a16zcrypto.substack.com/subscribe/ 

 

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Vitalik Buterin vs Beff Jezos: AI Acceleration Debate (E/acc vs D/acc)25 mars 202601:37:39

Should we push AI forward as fast as possible, or be more careful about how it develops? 

Two competing views are emerging: 

  • e/acc (effective accelerationism): go faster, progress is the only path forward
  • d/acc (defensive / decentralized acceleration): accelerate, but carefully, or risk losing control

In this episode of the a16z crypto show, Vitalik Buterin (Ethereum founder) and Guillaume Verdon aka "Beff Jezos" (Extropic founder & CEO,) join Eddy Lazzarin (a16z crypto CTO) and Shaw Walters (Eliza Labs founder) for a deep debate about these two perspectives and what they mean for AI, crypto, and the future. 

They discuss: 

  • Whether acceleration is something we can control
  • The biggest risks of AI, from surveillance to concentration of power
  • Why open source and decentralization may shape who benefits
  • Whether slowing down AI is realistic or even desirable
  • How humans stay relevant in a world of increasingly powerful systems
  • What the next 10, 100, and 1,000 years might look like
  • At its core, this episode asks: Can acceleration be steered, or is that beyond our control?

Highlights: 

00:00 Opening 

07:02 Thermodynamics and first principles 

16:04 Acceleration, entropy, and civilization 

28:29 The core disagreement 

32:42 Comparing and contrasting e/acc and d/acc 

36:20 Open source, open hardware, and local intelligence 

54:18 Should AI be slowed down? 

1:02:35 Autonomous agents and artificial life 

1:21:07 Crypto as the trust layer between humans and AI 

1:35:37 Closing arguments 

 

Follow a16z crypto for more... 

X: https://x.com/a16zcrypto 

LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ 

YouTube: https://www.youtube.com/@a16zcrypto 

 

📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ 

*** As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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AI Is Changing the Internet. What Does It Mean for Creators? (with Justin and Michael Blau)17 mars 202600:37:22

What does the future of the creator economy actually look like? The economics of content creation are changing, what happens to copyright in a world of abundant generated content, and why human taste, curation, and connection may matter even more going forward. 

In this episode, host Robert Hackett talks with Justin (CEO, Bond) and Michael Blau(Head of Product, Bond) about the changing relationship between creators, audiences, platforms, and technology. 

They unpack how today’s platforms shape creator behavior, why audience relationships are often trapped inside algorithms, and what a more direct creator-fan connection could look like. They also explore broader questions around crypto infrastructure, stablecoins, and whether blockchain can enable new kinds of internet-native products without needing to be the focus of the user experience. 

Along the way, Justin reflects on his path from music into crypto, Michael talks about how magic shaped the way he thinks about originality and performance, and both share thoughts on NFTs, digital ownership, productivity tools, books, and creative inspiration. 

Highlights 

  • 0:00 Intro 0:47 The biggest misconceptions about creator monetization
  • 1:04 Why creators still don’t know their audience
  • 1:34 Trading, speculation, and the limits of past creator crypto models
  • 2:31 Why creator-fan relationships could move onchain
  • 4:41 Stablecoins and global internet products
  • 6:55 Justin Michael’s journey from DJ to crypto builder
  • 8:12 What artists still don’t get from platforms
  • 10:09 Subscription models, fan support, and alternative mechanics
  • 17:57 AI, content abundance, and the future of creativity
  • 18:57 Why human curation still matters
  • 19:36 Copyright, IP, and a world shaped by AI
  • 25:00 The difference between AI and crypto products
  • 25:38 What magic teaches about creativity and originality
  • 28:23 Inspirations: John Mayer, Zedd, Brian Chesky, David Blaine
  • 35:06 Why NFTs still matter 
     

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The Emmy Built on ETH: Emily Yang aka pplpleasr on the Future of Storytelling13 mars 202600:11:08

Four years ago, artist Emily Yang aka pplpleasr began a creative journey that would help break new ground at the intersection of art, technology, and community. 

In this episode, we sit down with Emily — founder of Shibuya — to talk about her evolution from illustrator to Emmy-winning storyteller. 

Emily shares how Shibuya is pioneering “permissionless creativity,” using crypto rails to fund, build, and co-create original IP with global communities. Her breakout project, White Rabbit, became the first crypto-native project to win an Emmy (Outstanding Innovation in Emerging Media), proving that grassroots storytelling can reach mainstream acclaim. We dive into: 

  • How White Rabbit crowdfunded alternate story endings 
  • What it means to turn audiences from passive viewers into active participants 
  • Why efficient capital formation is a game-changer for creatives 
  • Building outside traditional studio systems 
  • The creative tension between community input and artistic vision 

Plus, Emily's biggest inspirations (Ghost in the Shell, Miyazaki, David Lynch, and more). 

 

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AI Just Gave You Superpowers — Now What?05 mars 202601:05:40

A hot paper — "Some Simple Economics of AGI" — has been making the rounds, so we sat down with the author, covering: 

  • Automation vs. verification: the key economic split 
  • Why AI agents now feel like coworkers - What's happening to junior roles and the “codifier’s curse” 
  • The “AI sandwich” structure for firms 
  • The value of "meaning-makers," consensus, and status economies 
  • Why crypto may become essential infrastructure for identity, provenance, and trust 
  • Two possible futures: a hollow vs. augmented economy 

Featuring Christian Catalini (founder of MIT Crypto Economics Lab) and Eddy Lazzarin (CTO of a16z crypto) in conversation with Robert Hackett, our discussion dives deep into how automation is reshaping labor markets, as well as the nature of intelligence. 

What do these changes mean for startups, the future of work, and your career? 

Highlights 

00:00 Introduction 

01:47 AGI economics optimism and playbook 

05:39 Agents as coworkers 

07:39 Software work becomes verification 

10:47 Automation versus verification 

12:03 "Unknown unknowns" and taste 

16:27 Human augmentation and intent 

17:55 The "AI Sandwich" and "Codifier's Curse" 

21:54 "Meaning-makers" and the human touch 

23:48 Crypto for identity and trust? 

27:10 Measurability: How to think about it 

33:23 Machine coordination and art after automation 

35:46 Trojan horse risks 

37:47 Liability and insurance 

41:08 Crypto and verification 

44:31 A hollow vs. augmented economy 

49:45 Career advice in the AI era 

51:26 The one-person billion-dollar startup 

57:15 Open-source as antibodies 

58:42 Blockchains for coordination 

01:01:49 Closing thoughts 

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Why Tokenize? Fidelity on Onchain Assets and the Next Phase of Adoption04 mars 202600:16:04

What does it actually mean to bring assets onchain — and why should investors care? 

In this episode, Cynthia Lo Bessette, Head of Digital Asset Management at Fidelity Investments, breaks down Fidelity’s roadmap for digital market adoption — from Bitcoin ETPs to tokenized money market funds — and explains why tokenization is about far more than just putting assets on a blockchain. 

We cover: 

  • The three phases of digital asset adoption: Hold, Use, Build 
  • Why tokenizing an asset must start with utility 
  • How tokenized money market funds bridge payments and yield 
  • The rapid rise of real-world assets (RWAs) onchain 
  • The impact of the regional bank crisis and stablecoin depegging 
  • Staking yield inside traditional wrappers 
  • Institutional adoption of DeFi infrastructure 
  • Build vs. partner decisions inside a major asset manager 

Cynthia also shares insight into Fidelity’s early Bitcoin mining experiments, how they evaluate crypto founders, and why authenticity is the smallest hill she’ll always die on. 

If you're interested in tokenization, real-world assets, crypto ETFs, DeFi infrastructure, or the future of asset management — this conversation is for you.


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When Bots Have Bank Accounts: The Rise of the Agent Economy (With Sean Neville, Catena Labs)03 mars 202600:20:42

What happens when AI becomes the primary economic actor? 

In this conversation, Sean Neville (cofounder of Circle, architect of USDC, and now cofounder of Catena Labs) shares his vision for the next phase of the internet: an agent-native economy powered by programmable dollars and AI banks. 

As stablecoins put dollars on internet rails, a new question emerges: what happens when AI agents start earning, spending, lending, investing — and even managing our assets — on our behalf? 

From KYA (“Know Your Agent”) to programmable spending policies to secure agent communication standards, this conversation explores the foundational layers that must be built before AI can safely participate in the global economy. 

Sean breaks down: 

  • Why he believes AI agents could become the dominant economic participants
  • What an “AI-native bank” actually is (and why we’ll need one)
  • The missing infrastructure required for safe agent-to-agent payments
  • How cryptography can encode trust directly into software
  • Why current financial risk systems are designed to block bots — and what needs to change
  • The fragmented race to define standards for agent identity, payments, and communication-
  • Lessons from building Circle and launching USDC
  • Why he doesn’t love the term “stablecoin”

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From Eater to Blackbird: Ben Leventhal on Restaurants, Loyalty, and Rebuilding Payments11 févr. 202600:15:49

Restaurants generated more than a trillion dollars in sales last year — but they don’t control the payment rails those dollars flow through.

In this episode, Ben Leventhal (founder of Eater, Resy, and now Blackbird) joins Robert Hackett to explain why that’s a problem, how loyalty and payments have failed independent restaurants, and where crypto fits into fixing it.

Ben breaks down:

  • Why most restaurant tech misses the point
  • How Blackbird uses crypto without making restaurants think about crypto
  • What “restaurant-first” really means in payments and loyalty
  • Why decentralization only makes sense at scale
  • Lessons from building multiple companies in hospitality
  • Why we’re living in the golden age of restaurants
  • Plus: favorite NYC spots, founder productivity hacks, and the smallest hill he’ll die on.

This is a grounded conversation about technology, ownership, and the future of restaurants — from someone who’s been building in the space for over a decade.

 

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Bridge CEO Zach Abrams: Stablecoins Are The Next Platform for Money02 févr. 202600:19:45

with @zcabrams @rhackett

What happens when money moves 10x — or 100x — faster than it does today?

In this episode, Zach Abrams, cofounder and CEO of Bridge (now part of Stripe), lays out a bold vision for the future of money: a world where stablecoins become the dominant payment rail, most transactions happen between non-human agents, and entirely new financial infrastructure is required to keep up.

Zach explains why stablecoins are the next evolution of fintech, much like credit cards were decades ago — and why we’re still in the very early innings. We dig into agentic payments, AI-to-AI commerce, micro-transactions on the open internet, and what Stripe is building by assembling stablecoin infrastructure across the stack.

Along the way, we cover:

  • Why cards succeeded — and what stablecoins must learn from them
  • How AI agents could drive the majority of future payments
  • What breaks when the velocity of money increases 10x
  • Stripe’s long-term strategy behind Bridge, Privy, and Tempo
  • The case for open, decentralized payment infrastructure
  • Zach’s unconventional views on management, productivity, and product-market fit

If you’re curious about the future of payments, fintech, crypto, AI agents, or the economic foundations of the next internet, this conversation offers a look several steps ahead.

Highlights:

00:00 Introduction
00:36 Stablecoins: The next platform for money
01:38 Credit cards had a moral panic too
03:29 What stablecoin infrastructure still needs to be built
05:22 The use cases no one predicted
11:11 Why Stripe is building with crypto
13:08 Why payments infrastructure must stay open
15:12 Lightning round: Bad advice, great books, and deep work

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Why Privacy Will Be the Biggest Moat in Crypto30 janv. 202600:36:20

with @alive_eth @rhackett

a16z crypto General Partner Ali Yahya explains why privacy — not performance — will determine the long-term winners in crypto, and how it creates powerful network effects. 

In conversation with a16z crypto show host Robert Hackett, Ali lays out how privacy creates lock-in and winner-take-most dynamics — without sacrificing decentralization. They also dive into the technologies making privacy possible today, from zero-knowledge proofs to trusted execution environments, and why financial use cases will drive mainstream adoption first.

They cover:

  • Why blockspace is becoming a commodity
  • Why users tolerate surveillance in social media—but not in finance
  • How anonymity sets work and why secrets are hard to migrate
  • The real trade-offs between privacy, composability, and decentralization
  • The four privacy technologies shaping the next generation of blockchains

Highlights:

00:00 — Introduction
01:41 — Blockspace is becoming commoditized
03:11 — Privacy as lock-in: why secrets are harder to move than assets
06:01 — Do people actually care about privacy?
08:51 — Beyond finance: social, gaming, and private onchain apps
11:55 — Privacy zones, anonymity sets, and network effects
18:46 — Winner-take-most dynamics, explained
20:22 — What it means for crypto’s decentralization ethos
23:06 — Is privacy lock-in different from web2 lock-in?
28:31 — The privacy tech stack: ZK, MPC, TEEs, and FHE
32:13 — What this means for builders and investors
33:18 — Future considerations: Quantum computing and AI

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From Oculus to Anduril: Palmer Luckey on Power, Technology, and the Future23 janv. 202601:02:01

with @PalmerLuckey @cdixon

In this special episode — our 100th on the a16z crypto show! — Chris Dixon interviews Palmer Luckey (founder of Anduril; founder of Oculus VR and designer of the Oculus Rift) to talk about the future of technology, belief, and building.

What does it take to build hardware at scale? Where are many of today’s tech bottlenecks? And what's the case for optimism about the future despite growing geopolitical turmoil, regulatory constraints, and other blockers to innovation? The candid, wide-ranging conversation covers crypto, banking, and stablecoins, as well as modern warfare, the U.S.–China technology race, AI and manufacturing, and much more. 

Dixon also digs into company building in good times and bad with Luckey; the conversation was recorded live at our Founders Summit. 

Highlights:
0:00 — Introduction
2:08 — Early Oculus: Why VR was hard
8:02 — Bitcoin & early crypto days
9:49 — The Facebook acquisition
13:36 — How successful was VR, really?
18:59 — Starting Anduril
20:01 — Hiring for mission ("Don't Work at Anduril")
23:59 — How Anduril works (product dev, org design)
27:47 — How Palmer stays ahead of the curve
33:00 — The US-China technology race
34:40 — What Putin understood early about AI
39:45 — Stablecoins & banking risk
45:00 — Politics as bottleneck
47:00 — Future of technology: AI, fusion, quantum
50:23 — Automation, abundance, and optimism
53:23 — Ukraine, drones, and the reality of war

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Nobody's Gonna Trust Your Corp Chain14 janv. 202600:17:27

with @ccatalini @rhackett

Today we’re talking about who — if anyone — should own the rails of global money.

Our guest is Christian Catalini, cofounder and chief strategy officer of the global payments startup Lightspark, and a former architect of Meta’s shuttered Libra project — one of the most ambitious attempts to create a corporate-backed digital currency.

In this episode, we talk about…

  • why Bitcoin is more than “digital gold,” 
  • what Christian learned from his time at Facebook, and 
  • why he believes openness — not corporate control — will ultimately win

Christian also wrote a feature for us expanding on his argument, which you can read by subscribing to a16z crypto on Substack. Check it out and let us know what you think.

This episode is part of a special series of interviews we recorded live at our Founders Summit in October. 

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The Obsession That Destroys Startups (with LayerZero CEO)07 janv. 202600:30:28

with @PrimordialAA @rhackett

In this episode, host Robert Hackett sits down with Bryan Pellegrino, cofounder and CEO of LayerZero, one of the core infrastructure projects that enables blockchains to talk to one another. We talk about why crypto went multichain, what it means for crypto to compete with legacy financial systems, and a lesson Bryan took firsthand from Elon Musk. We also get into Bryan’s background as a professional poker player, and how that has shaped his views on competition, conviction, and focus.

We go deep on founder psychology:
– When founders must replace early leadership — and why no one talks about it
– Why conviction matters more than advice
– And why the hardest decisions are the ones no playbook prepares you for

Highlights
0:00 – Introduction
0:47 – The need for interoperability
1:04 – How crypto went multichain
2:51 – The institutional adoption of crypto
6:56 – Focus and conviction
13:19 – The nature of competition
14:43 – Elon Musk's game-changing advice
18:48 – The importance of self-disruption
20:08 – Lightning round
22:56 – Challenges in scaling a company
26:46 – Book recommendations and productivity hacks
28:19 – Core principles and company culture

This episode is part of a special series of interviews we recorded live at our Founders Summit in October. 

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How Elite Athletes Perform Under Extreme Pressure29 déc. 202500:31:48

with @LairdLife @GabbyReece @AriannaSimpson

Today's episode features two people who’ve spent their careers performing at the highest levels in sport and business: big-wave surfing pioneer Laird Hamilton and former pro volleyball star Gabby Reece. 

They join a16z crypto General Partner Arianna Simpson for a conversation that explores what it takes to endure and excel over decades — how to get back up after setbacks, when to push versus change course, and how to build resilience and adaptability. They also get into stress, burnout, intuition, and why experience and self-care matter as much as data.

It’s a fitting conversation as we head into the New Year: a moment to reflect on habits, goals, and the kind of people we wish to become.

They cover:
– How extreme environments teach resilience
– When to keep pushing forward (and when to walk away)
– Why adaptability matters more than strength or intelligence
– How data confirms intuition
– What it takes to sustain performance across decades

Highlights:
(0:00) Opening on ambition, discomfort, and pushing beyond limits
(0:55) A near-fatal big-wave wipeout and the decision to return
(2:57) Learning how to recover after fear, injury, and loss
(3:55) When to keep going and when to stop
(6:10) Are you attracting the right people?
(6:39) Adaptability as the core skill for uncertain environments
(8:22) Sustaining energy over decades
(10:42) Approaching work with a beginner’s mindset
(11:58) Working together under pressure
(15:00) Taking a company public
(16:37) Breaking bad habits and forming good ones
(18:20) Science & data confirming instinct
(20:58) Daily practices that matter
(24:06) Personal scars and the early experiences that shape resilience
(26:32) Choosing the right people
(28:30) Practical ways to de-stress and regain focus

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What, How & Why We're Reading23 déc. 202501:19:50

with @smc90 @rhackett @stephbzinn @Tim_Org

In a now-annual tradition, the a16z crypto editorial team discuss themes (and picks) from a16z crypto's latest reading lists, as well as books we keep re-reading, childhood favorites, classics, adaptations on adaptations — in book and movie form! — and much more.

We cover:

  • What genres are we reading now, how, and why?
  • How is technology — from AI and ChatGPT to the internet and audio — changing reading?
  • Why are certain themes in the zeitgeist right now?
  • Is all non-fiction just fiction now (and should we lean into this for education)?
  • Are the kids alright?

From irony, truth, and why context matters, to Machiavelli, Formula 1, and nautical non-fiction this episode has it all... check out our "what we're reading" lists, podcasts, and more here:
https://a16zcrypto.com/posts/tags/what-were-reading

Highlights
(0:00) Overview of the summer reading list
(0:33) The list goes beyond tech and business books
(2:02) Formula One, optimization, and recurring reading themes
(3:12) Favorite picks: ASML, semiconductors, and industrial history
(4:50) Memoirs, grief, and reading for emotional understanding
(6:40) Why nonfiction feels broken — and what replaces it
(8:20) Adventure, boats, and narrative nonfiction
(11:39) Letters, primary sources, and Renaissance writing
(17:30) Antimimetics, ideas that resist spreading, and fresh nonfiction
(19:00) Mark Twain, irony, influence, and unreliable narrators
(24:16) Podcasts/the internet as book discovery engines
(26:10) The internet replaces nonfiction?
(27:31) Anne of Green Gables and its effects
(30:21) The role of the author in fiction vs. nonfiction
(32:00) Historical fiction, context, and why it still matters
(38:12) Machiavelli and interpreting texts across time
(45:43) Gothic fiction, Dracula, and modern adaptations
(51:00) Film adaptations and creative ownership
(55:16) Audiobooks, narration, and reading styles
(1:00:54) Reading aloud, poetry, and rhythm
(1:06:44) Childhood books that shape worldview
(1:15:24) Young adult books worth revisiting
(1:18:29) Closing reflections and where to find the full list

***

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From Wallets to Super Apps: The Internet's New Interface (with Phantom CEO)19 déc. 202500:41:15

with @BChillman @jay_drainjr @rhackett

Crypto wallets are no longer just wallets. They’re the front door to a decentralized internet.

In this episode, Phantom CEO Brandon Millman joins a16z crypto Investment Partner Jay Drain and host Robert Hackett to unpack how crypto wallets are evolving into full-blown consumer finance platforms — and why they may be the most credible candidates to become the internet's next super apps.

We explore Phantom’s journey from a Solana-first wallet to a multi-chain platform, why wallets are uniquely positioned to win trust around money, and how features like onchain trading, perps, social feeds, prediction markets, and payments are reshaping what people expect from a consumer finance app.

The conversation also dives into:

  • Why starting with finance may be a better path to a super app than starting with social
  • How Phantom thinks about UX, trust, and security in crypto
  • The rise of perpetual futures (perps) and prediction markets
  • What the FTX collapse meant for Solana — and the counterintuitive silver lining
  • Whether AI agents could one day replace apps and browsers

If you’re curious about where crypto, fintech, and consumer apps are headed next — and why wallets may become the most important interface on the internet — this episode is for you.

Highlights
01:32 – The evolution and role of crypto wallets
2:42 – Wallets vs. browsers: the right mental model
12:03 – Phantom’s origin story and the Solana bet
19:05 – Perps, trading, and product-market fit
26:08 – UX, trust, and consumer finance
30:52 – Social feeds, discovery, and network effects
35:21 – Crypto as "black hole" absorbing finance
37:09 – AI agents and the future of wallets

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Crypto's Killer App?10 déc. 202500:37:35

with @zcabrams @psneville @rhackett

In this episode, Robert Hackett sits down with Sean Neville, cofounder of Circle and co-creator of the USDC stablecoin, and Zach Abrams, founder of Bridge (now part of Stripe), for a deep dive into the real story behind stablecoins, finding product-market fit, and the future of payments infrastructure.

They explore the earliest days of USDC — when stablecoins were far from obvious and regulatory frameworks didn’t exist. Sean shares how his conviction in “money running at internet speed” helped shape a multibillion-dollar asset. Zach recounts Bridge’s pivot from NFTs to stablecoin infrastructure — and how his business has changed since joining Stripe.

Together, they break down:

  • Why stablecoins are having their moment now
  • What counts as product-market fit (and why founders rarely “feel” it)
  • The challenges of building crypto and AI products within heavily regulated environments
  • Why new base-layer chains like Arc, Tempo, and others may be needed
  • How decentralization, liquidity moats, and interoperability will define the next decade of blockchain adoption
  • What the future of programmable money and AI-driven financial workflows looks like

Whether you’re a founder, a crypto-curious builder, or someone trying to understand where global payments are headed, this conversation — originally recorded live at our recent a16z crypto Founders Summit — offers insights from two operators at the center of an industry-defining transformation.

Guests:
• Sean Neville — Cofounder, Circle; CEO and cofounder, Catena
• Zach Abrams — Founder and CEO, Bridge (acquired by Stripe)

Highlights:

01:26 — Origins of USDC

02:44 — Why stablecoins are having their moment now

04:14 — Circle’s early product experiments

06:19— Surviving crypto cycles

07:35 — Bridge: From NFT payments to stablecoins

08:58 — What product-market fit actually feels like

20:02 — Inevitability and the founder vs. employer mindset

20:58 — Why Bridge joined Stripe

26:18 — How AI changes company building

29:38 — What students should study now

30:27 — Why new payment chains (Tempo & Arc)?

35:55 — Decentralization as imperative

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TradFi’s Tipping Point: Fidelity CEO Abigail Johnson on Stablecoins, Bitcoin, and Innovation Bets04 déc. 202500:42:17

Every traditional financial institution faces the same dilemma: evolve or fall behind, build or buy. But when safety, predictability, and trust is paramount, how do traditional finance companies innovate? How do they place their innovation bets, and decide what to explore and not to explore? 

Fidelity Chairman and CEO Abigail P. Johnson shares an inside look into Fidelity’s decade of crypto experimentation -- from early Bitcoin mining to building foundational custody infrastructure to stablecoins and much more. Johnson shares how Fidelity explored dozens of crypto use cases; why only one initially mattered, and how a single foothold shaped a long-term institutional strategy. 

This episode is for anyone interested in exploring how innovation happens inside companies, how startups can partner with big institutions, how TradFi is approaching crypto in this "Year of Institutional Adoption"... and what the next decade of financial infrastructure might look like.

We originally recorded it at our Founders Summit event in October 2025, in conversation with a16z crypto COO Anthony Albanese, who was the Chief Regulatory Officer of the New York Stock Exchange before joining a16z; and was previously acting superintendent of the New York State Department of Financial Services (DFS), where he signed and issued New York’s first-ever BitLicense.

As a reminder, none of the following is investment, business, or tax advice; please see a16z.com/disclosures for more information. 


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AI, Networks, and What Makes Consumer Products Win24 nov. 202500:43:32

with @cdixon @illscience

Welcome to web3 with a16z crypto. Today’s episode digs into the forces shaping the next generation of consumer software — from AI-driven tools to the new economics of apps.

Joining is Chris Dixon, a16z crypto founder and managing partner and one of the firm’s original consumer investors. He sits down with a16z General Partner Anish Acharya to explore how exponential forces — like Moore’s Law, composability, and network effects — help determine which products ultimately win.

They talk about what it takes to build enduring consumer apps, how tools evolve into networks, and why niche communities like early crypto and open source movements can trigger massive technological shifts.

Topics covered:
- What exponential forces define tech progress
- Moore’s Law, composability, and network effects
- How tools evolve into networks
- The new economics of paid consumer software
- Investing in “movements” — from 3D printing to crypto
- What makes niche communities powerful
- AI as a platform shift and the “idea maze”
- Native vs skeuomorphic tech — and what’s next for AI interfaces
- The future of open-source AI and decentralization

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  • Youtube: https://www.youtube.com/@a16zcrypto

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***

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Pricing the Future (with Kalshi CEO)19 nov. 202500:23:29

with @mansourtarek_ @rhackett

In this episode of web3 with a16z crypto, host Robert Hackett talks with Kalshi Cofounder and CEO Tarek Mansour about how prediction markets are enabling people to trade directly on real-world events — from elections to inflation — and what this means for the future of finance and forecasting.

Tarek explains why prediction markets aren’t gambling, how regulation has been central to Kalshi’s success, and why the company is embracing crypto and stablecoins as key components of its international strategy. He also discusses lessons learned about policy, product design, and staying compliant while innovating at the frontier.

Topics include:

  • How prediction markets make society "smarter"
  • The role of regulation in fintech innovation
  • Why Kalshi started with crypto payments
  • Lessons from FTX and the importance of compliance
  • Building consumer trust and network effects
  • Tarek’s take on productivity, leadership, and even… kombucha

This episode kicks off a special series of interviews recorded live at our recent Founders Summit. Subscribe to web3 with a16z crypto for more conversations with founders and builders shaping the decentralized future.

Timestamps:

00:00 – Introduction: What are prediction markets, and why now?

01:04 – Kalshi’s mission: making forecasting tradable

01:52 – Why crypto fits into Kalshi’s long-term strategy

03:19 – Going global with stablecoins

05:55 – The long road to regulation and why it mattered

7:51 – Coinbase and Robinhood as role models

08:17 – The Trump trade: direct vs. indirect exposure to events

10:51 – Lessons from FTX and why compliance is a moat

12:06 – How Kalshi monitors markets and prevents manipulation 

15:00 – Momentum after the presidential election

16:48 – How policy in DC really works

17:56 – The hidden advantage of being regulated

18:52 – Lightning round: worst advice, productivity habits, and more

21:00 – The importance of process and patience (“The Score Takes Care of Itself”)

22:30 – The smallest hill Tarek will die on

Follow a16z crypto on...

  • X: https://x.com/a16zcrypto
  • LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/
  • Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywE
  • Apple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549
  • Youtube: https://www.youtube.com/@a16zcrypto

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***

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Trump's Tech Czar on Crypto, AI, and American Innovation05 nov. 202501:18:02

with @DavidSacks @pmarca @bhorowitz @eriktorenberg

Today’s episode features David Sacks, the Trump administration’s “AI and crypto czar," in conversation with a16z cofounders Marc Andreessen and Ben Horowitz, and General Partner Erik Torenberg.

They dig into:

  • how the U.S. is approaching AI and crypto policy,
  • the fight over open source software,
  • the status of tech regulation and legislation (like the CLARITY Act for crypto),
  • what’s at stake in the geopolitical race with China, and more

This episode is a special crossover with the a16z podcast, which you can follow for more conversations like this.

Timestamps:

00:00 Intro

01:16 David Sacks on Crypto and AI Policy

02:34 Trump's Vision for Crypto

06:16 The Crypto Crackdown and Debanking Years

08:58 AI Regulatory Capture and Gatekeeping

11:30 How Permissionless Innovation Built Silicon Valley

16:21 "Woke" vs. Orwellian AI

21:48 When AGI?

24:29 Polytheistic AI and "End-to-End" Humans

31:07 The Future of AI: Controlled or Decentralized?

37:13 Open Source and Global Competition

41:53 The AI Race: US vs China

46:32 Amping Up Energy and Infrastructure

47:17 Cultural Divides Over the American Tech Stack

55:01 The European approach and Doomerism

01:06:14 Crypto and the Legislative Process (GENIUS, CLARITY)

01:11:13 The Future of the Democratic Party

01:14:12 San Francisco Politics

📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resourcesfrom a16z crypto: https://a16zcrypto.substack.com/subscribe/ 

🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ 

***

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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The Data Behind Crypto's Breakout Year01 nov. 202500:37:40

with @DarenMatsuoka @eddylazzarin

Today, we’re bringing you something special: a presentation from our 2025 Founders Summit, which we just wrapped last week in beautiful Carlsbad, Calif. You’ll hear from Daren Matsuoka, our Head of Data and Fund Strategy, as he walks through the insights from this year’s State of Crypto report — our deep-dive into the data, themes, and signals shaping the industry right now.

Stay through to the end for audience Q&A featuring our founders and to hear a16z crypto CTO Eddy Lazzarin share his takes on this year’s findings. To watch the full video — and explore more deep dives, explainers, and interviews — visit the a16z crypto Youtube channel. Don’t forget to like and subscribe to stay updated.

Oh, and if you haven’t already, be sure to check out the full State of Crypto report at a16zcrypto.com/stateofcrypto, and also to listen to the episode just before this one — a conversation between Daren, Eddy, and me where we unpack the numbers and trends, explain what they mean, and why they matter.

Timestamps:

00:00 Introduction

01:56 Crypto Market Developments in 2025 

07:19 Institutional Adoption and Market Trends

09:05 Stablecoins: The First Killer Use Case 

12:08 The Evolution of Decentralized Finance (DeFi) 

13:18 DePIN and Physical Infrastructure Networks 

15:12 Blockchain Scaling and Infrastructure 

17:24 Privacy, ZK Technology, and Quantum Computing 

18:53 Crypto and AI: Converging Technologies 

21:08 Regulatory Clarity and Legislative Progress

23:27 Looking Ahead 

24:04 Q&A Session

📊 Download the full State of Crypto 2025 report and explore our interactive dashboard to track the industry’s key metrics.

📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources.from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 

🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ 

***

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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State of Crypto 2025: The Latest Data, Trends, and Themes Revealed22 oct. 202501:37:15

with @DarenMatsuoka @eddylazzarin @rhhackett

Each year, the State of Crypto report analyzes the data — cutting through the noise — to track crypto’s evolution across markets, technology, policy, culture, and more. Now in its fourth edition, the 2025 State of Crypto report reveals how this once-fringe technology has hit recent all-time highs and gone mainstream — from stablecoins and tokenized assets to rapid adoption by major financial institutions.

In this episode, we dig into the findings and themes from this year’s report with lead author Daren Matsuoka, a16z crypto’s head of data and fund strategy; and Eddy Lazzarin, a16z crypto’s chief technology officer. We talk about what’s changed since last year, why stablecoins are “suddenly” taking over, and how institutions — from fintechs to legacy banks — are embracing crypto technologies.

We also look ahead at trends like: 

  • AI and crypto (and where the jobs are moving);
  • why stablecoins have gone mainstream
  • institutional adoption — from Stripe and Visa to BlackRock and Robinhood
  • privacy on public blockchains
  • tokenization of real world assets
  • bitcoin’s resurgence and the rise of "digital gold"
  • where developer energy is going
  • what’s really happening with memecoins, perps, and prediction markets
  • the changing regulatory environment in the U.S.
  • and what the next phase of crypto’s “adulthood” might look like — what happens next year when crypto turns 18

Timestamps

00:00 Introduction

02:39 Overview of the 2025 State of Crypto Report

05:04 The Evolution and Mainstreaming of Crypto

08:27 Crypto’s Market Cycles and All-Time Highs

12:08 The Price-Innovation Cycle (and Its Dislocation)

15:40 Memecoins, Stablecoins, and Entrepreneurs

17:25 AI and Attracting Tech Talent

21:18 Crypto Adoption and User Metrics

26:58 Airdrops, Farming, and Changing Metas

31:24 Bitcoin’s Resurgence and Store of Value

42:09 Institutional Adoption and Market Dynamics

50:08 The Evolution of Stablecoins

54:20 The Growing Role of Stablecoins in the Global Economy

01:00:54 The Importance of Privacy in Crypto

01:08:46 Tokenization of ‘Real World Assets’

01:20:46 Perpetual Futures and Prediction Markets

01:29:41 Outlook for the Future

📊 Download the full State of Crypto 2025 report and explore our interactive dashboard to track the industry’s key metrics.

📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources.from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 

🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ 

***

As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Prediction Markets -- Everything You Need to Know26 sept. 202501:42:34

Prediction markets are a hot topic again — even cartoon characters are talking about them (South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?

We answer all these questions and more in this deep-dive featuring experts Alex Tabarrok (professor of economics at George Mason University) and Scott Kominers (a16z crypto research partner and Harvard Business School professor), in conversation with Sonal Chokshi.

While we originally covered this topic during last year’s election, the discussion is more relevant than ever today, as we go into the claims people make about prediction markets — what they’re good for (and not); how they fit in with other trends like AI, futarchy, and the crisis in scientific publishing; and where blockchains and crypto come in.

This is your definitive explainer on the topic.

for transcript, links, and more: https://a16zcrypto.com/posts/podcast/prediction-markets-explained/ 

As a reminder: None of the following should be taken as business, investment, legal, or tax advice; please see a16z.com/disclosures for more important information.


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Surviving Market Cycles & Startup Lessons for Founders29 août 202500:48:59

with @AriannaSimpson @jacqmelinek

Crypto is known for its high and low market cycles: What must founders know — and what can they do — to survive the swings?

In this episode, we unpack the lessons of past crypto cycles and how they shape the current wave of building — from stablecoins to AI x crypto. We also dive into the founder journey: from raising money and staying committed in 2025, to handling copycat competitors, cofounder disputes, growing too fast (or slowly), and more.

You'll hear from a16z crypto General Partner Arianna Simpson, who has spent over a decade investing in crypto. She joins Jacquelyn Melinek, cofounder & CEO of Token Relations and host of the Talking Tokens podcast, where this conversation first aired, and which we’re excited to share with you here. 

Timestamps

0:00 Introduction

1:19 Arianna Simpson's Crypto Origin Story

3:23 Market Cycles & Investing Priorities

5:52 Interrogating the Stablecoin Trend

13:25 Intersection of AI x Crypto

17:49 The Role of Blockchains for Authenticity and Verification

23:07 Future of AI Agents and Monetization Models

27:23 Traits of Successful Crypto Founders

30:05 Challenges and Changes in Fundraising

33:57 Current State of the Market

37:33 Advice for Founders:

  • Pivoting when PMF is missing
  • Raising capital after bootstrapping
  • Competing with copycats
  • Cofounder disputes and breakups
  • Growing too fast & scaling pains

47:52 Conclusion

***

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***

As always, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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After the Foundation Era: Tokens, Policy, and Startup Structures22 août 202501:20:59

with @eddylazzarin @milesjennings @JasonYanowitz

Welcome to web3 with a16z crypto. Today’s episode is on a super timely topic: How to design, govern, and grow decentralized networks in today’s changing policy landscape. It covers:

  • Why the “foundation era” of crypto is ending — and what comes next with DUNAs and BORGs
  • How U.S. policy shifts are creating real rules of the road
  • The difference between network tokens vs. company tokens (and why it matters for investors, builders, and other participants)
  • When protocols should flip the fee switch and start generating revenue
  • Common mistakes founders make when launching tokens and structuring projects

To unpack it all, you’ll hear from Miles Jennings, head of policy and general counsel at a16z crypto, and Eddy Lazzarin, a16z crypto’s CTO, in conversation with Jason Yanowitz, cofounder of Blockworks and host of the Empire podcast (where this conversation first aired) ... and which we’re excited to bring to you here.

Timestamps

0:00 Introduction

3:14 Regulatory Progress and Optimism in DC

9:34 The Problem with Offshore Foundations

13:58 The End of the Foundation Era

27:29 DUNAs and BORGs: New Legal Structures

38:42 Understanding Network Tokens

43:42 Network Tokens: Beyond L1 and L2

48:37 Company Tokens: Evolution and Challenges

51:09 The Legal Landscape of Token Offerings

1:04:25 Turning on the Fee Switch: When and Why

1:12:47 Balancing Portfolio Needs and Regulatory Clarity

1:15:36 Common Questions from Founders

1:20:17 Conclusion
 

📩 Subscribe for more from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 

🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ 

***

As always, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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The antimemetics (and memetics) of making ideas happen -- in crypto and beyond07 août 202501:35:10

with @nayafia and @smc90 

Ideas, memes, and vibes are some of the most important drivers of modern technology adoption, marketing, and much more -- and have been much-covered by everyone from Darwin to Dawkins to Girard to many others. Yet the topic of antimemetics -- self-censoring (vs. self-propagating) ideas -- whether something fringe, forgotten, or forbidden -- haven't been studied as much, especially in the context of modern networks. 

So in this special book-launch episode, we cover the important concept of antimemetics (and memetics) -- focusing on: 

  • where and how ideas take off in groups, whether in online chats or other high-shared context communities; 
  • how ideas not just spread but are contained, or mutate in strange ways; 
  • why packaging ideas matters; and 
  • what we can all do to move ideas to action. 

Where do bureacracy, institutions, and protocols come in? What about tacit knowledge that lies in these communities, how (or do) we make it explicit? What roles -- from truth tellers to champions to individual nodes in networks -- can and do people play in making something go from mere commentary to reality? After all, ideas -- or ideas as viruses -- are how movements happen, how innovation happens, how things change... or don't ever change despite being discussed all the time.  

Our expert guest in this special book episode (following in our long tradition of sharing what we're reading) is Nadia Asparouhova, the author of the new book, Antimemetics: Why Some Ideas Resist Spreading; she is also the author of the book Working in Public: The Making and Maintenance of Open Source Software. a16z crypto's Sonal Chokshi -- who previously hosted Nadia's book-launch episode for the a16z Podcast and almost a decade before that on the changing culture of open source -- interviews Nadia on these themes, how they connect, and why they matter for the crypto industry and beyond. We also dig into some critiques -- and opportunities for builders -- too, including what happens to the public commons; network propagation including across networks; reality distortion fields; hidden knowledge; and cultural stagnation vs. cultural abundance. All this and more in this episode of web3 with a16z! 


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GENIUS Becomes Law: What It Took to Pass the First Rules for Stablecoins in the U.S.22 juil. 202500:23:58

with @rhhackett @milesjennings @BenNapier & Michael Reed

Today we're talking about the passage of the GENIUS Act — that's the "Guiding and Establishing National Innovation for US Stablecoins Act" — which provides clear rules of the road for stablecoins in the U.S. We cover the law's implications, the recent high-stakes vote in the House of Representatives, and the bipartisan efforts to pass this groundbreaking bill.

We also touch on the CLARITY Act — a major new “market structure” bill that would establish a clear regulatory framework for digital asset markets — which the House also passed with bipartisan support and which is now headed to the Senate.

Here to separate the signal from the noise are members of the a16z crypto team who had a front-row seat to the action. We've got Miles Jennings, a16z crypto's General Counsel and Head of Policy, plus a16z Government Affairs Partners Ben Napier and Michael Reed, who are responsible for liaising with House Republicans and House Democrats, respectively. They share the inside scoop.

Timestamps:

(0:00) Introduction

(1:01) Understanding the GENIUS Act

(3:56) News Summary: What Happened in the House

(5:45) Central Bank Digital Currency (CBDC) Contention

(7:01) House Vote Drama: Republicans

(9:31) House Vote Drama: Democrats

(14:28) Winners and Losers

(16:01) Decentralized Stablecoins and SEC Involvement

(17:49) CLARITY Act and Future Legislation

(21:47) Looking Ahead

Resources:

***

As a reminder, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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11 Ideas for AI x Crypto16 juil. 202501:02:17

with @rhhackett @SamBroner @skominers @liz_harkavy @CarraWu @jay_drainjr @mg_486662

Today's episode is a special one. It's a round table on some of the most compelling ideas at the intersection of AI and crypto, sourced from members of the a16z crypto team. You're going to hear from builders, researchers, and deal makers who are all wrestling with the big question: How will these two powerful technologies collide, and what happens when they do?

First, Investment Partner Sam Broner makes the case for giving AI agents universal identities. Then Research Partner Scott Kominers presents how crypto can provide AI with levels and layers of rich context. You'll also hear from Investment Partners Liz Harkavy on AI monetization models; Carra Wu on the next evolution of web crawlers; Jay Drain on proving personhood online; and finally, Security Engineer Matt Gleason on how crypto turns internet advertising on its head.

This is a tour of big, fresh ideas that hint at what an internet of the near future could look like. For the full list of ideas, check out our recent AI x crypto crossovers package, which you can find at a16zcrypto.com.

Timestamps

(0:00) Introduction

(1:44) Universal Identity for AI Agents

(5:25) Why Crypto Makes a Difference

(10:07) Context in AI: Memory and Interoperability

(15:00) Vibe Coding Applications

(19:32) Registries with Global Context

(21:47) Honkaku Mystery Novels

(24:13) Monetization Models for AI x Crypto

(28:36) Overcoming Technical Challenges

(31:34) AI Agents and the Rise of Web Crawlers

(36:05) Collapse of the Social Contract

(39:21) AI Bots and Blockchain Solutions

(44:31) Proof of Personhood: Ensuring Human-ness

(50:41) Future of Personalized Advertising

(1:01:54) Final Thoughts

***

As a reminder, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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What We're Reading & Technology Changing Reading02 juil. 202501:19:52

with @rhhackett @smc90 @stephbzinn @tim_org

In a now-annual tradition, the a16z crypto editorial team discuss themes (and picks) from a16z crypto's latest reading list, as well as books we keep re-reading, childhood favorites, classics, adaptations on adaptations -- in book and movie form! -- and much more.

What genres are we reading now, how, and why? How is technology -- from AI and ChatGPT to the internet and audio -- changing reading? And why are certain themes in the zeitgeist right now? Is all non-fiction just fiction now, and should we lean in to this for education? Are the kids alright?

From irony, truth, and why context matters, to Machiavelli to Formula 1 to nautical non-fiction to memoirs, this episode has it all...

check out our "what we're reading" lists, podcasts, and more here:
https://a16zcrypto.com/posts/tags/what-were-reading





 


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5 Charts That Explain Crypto Right Now20 juin 202500:28:47

with @DarenMatsuoka @rhhackett

Today we've got a midyear market update and news episode for you. 

At the end of last year, our guest — and resident data weatherman — Daren Matsuoka put out a post on "5 metrics to watch in 2025." Most of the metrics that Daren picked measure how crypto's adoption: from mobile wallet usage and onchain transaction fees to volume across stablecoins, decentralized exchanges (or DEXs), and exchange traded-products. Now that we're about midway through 2025, it's a great time for an update. 

Timestamps:

(0:00) Introduction

(2:27) Chart 1: Monthly Mobile Wallet Users

(6:16) Chart 2: Adjusted Stablecoin Transaction Volume

(10:01) Chart 3: ETF Net Flows for Bitcoin and Ethereum

(13:30) Chart 4: Decentralized vs Centralized Exchange Volume

(15:50) Chart 5: Total Transaction Fees

(21:46) Emerging Metrics and Industry Insights

(25:07) Recent Industry News and Developments

(27:13) Conclusion

Relevant news:

  • Circle, issuer of the USDC stablecoin, went public on the New York Stock Exchange exchange on June 5 and there was extremely strong demand for the company's offering.
  • Stripe announced on June 11 that it would be acquiring a crypto company, Privy, which helps companies create crypto wallets — adding to Stripe's earlier acquisition of Bridge, which helps companies work with stablecoins.
  • Shopify partnered with Stripe and Coinbase to enable merchants to accept USDC payments.
  • Coinbase has a new credit card in partnership with American Express, which gives you Bitcoin rewards.
  • The French bank Société Générale announced plans for a dollar-backed stablecoin that will run on Ethereum and Solana with BNY Mellon acting as custodian for the reserves.
  • JPMorgan Chase plans to launch a U.S. dollar “deposit token” called JPMD on Coinbase's Base network.

If you enjoyed this episode, stay tuned for our annual big State of Crypto Report, which we'll drop in the fall. If you want more from Daren, you can follow him @DarenMatsuoka on X or visit a16zcrypto.com to read his posts, including the one we talked about today.

***

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Wait — The Bank Froze Your Life Savings?11 juin 202501:25:17

with @MinarikLaw @EMinSF @rhhackett

Imagine waking up one day to find your bank account frozen. No warning. No explanation. No recourse.

This is not a thought experiment. It’s a real situation. And it’s happened not just to crypto companies and their founders, but to ordinary people who are just trying to live their lives. That includes our guest today, who learned firsthand what it means to be “debanked.”

In this episode, we talk about the unseen algorithms that monitor people’s accounts, the ramifications of the Bank Secrecy Act, and how crypto and decentralized finance may offer a much-needed check — and safety net — against the opaque systems of traditional finance.

Joining us are:

  • Uniswap Labs’s Chief Legal Officer Katherine Minarik, who shares her personal story of being debanked and what it taught her.
  • a16z crypto Finance and Operations Partner Em Westerhold, who helps founders navigate these issues, and who has tracked dozens of instances of debanking across our own portfolio.

A big thank you to Katherine for trusting us to share her story, which you can read a first-hand account of in an op-ed she contributed to a16zcrypto.com earlier this year. Find that and more below.

Timestamps:

(0:00) Introduction

(2:03) The Problem of Debanking

(5:58) Debanking: A Personal Story

(7:33) Understanding the Bank Secrecy Act

(11:53) The Information Vacuum

(16:55) The Impact on Crypto Companies

(20:07) Addressing Skeptics

(22:07) Banks: Good vs. Bad

(27:35) The Scariest Moment

(36:17) "Operation Chokepoint 2.0"

(38:08) History of the Bank Secrecy Act

(44:04) Security Theater

(45:31) What Would You Change?

(48:45) The Impact of Financial Consolidation

(49:30) Crypto as Banking Solution

(53:02) Is Debanking Still Happening?

(58:35) Unresolved Mysteries

(1:01:47) One More Debanking Story

(1:08:07) Conspiracy or Coincidence?

(1:09:39) It Shouldn't Be This Hard

(1:11:18) Out From Under the SEC's Cloud

(1:14:23) The Urgent Need for Legislation

(1:17:26) Possible Tech Futures

(1:19:33) Advice for Founders

(1:22:04) Final Thoughts

Resources:

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Inside the Solana Story: Near-Death Brushes and a Need for Speed (with Solana)05 juin 202500:49:37

with @aeyakovenko @alive_eth

Today’s episode features Solana cofounder Anatoly Yakovenko in conversation with a16z General Partner Ali Yahya, recorded live at our CSX Crypto Startup Accelerator program earlier this year.

Anatoly shares the origin story of Solana — from a late-night eureka moment to thousands of investor meetings and several near-death startup experiences. He talks about what it took to get the network off the ground, how his engineering background at Qualcomm shaped its design, and why a need for speed gave Solana its edge.

They also get into developer culture, engineering trade-offs, and what differentiates Solana’s approach to building — including its willingness to ship, iterate, and rethink everything: including, most recently, its consensus algorithm.

Timestamps:

(0:00) Introduction

(2:54) Early Career and Move to SF

(3:57) Discovering Crypto and Solana's Beginnings

(8:28) Challenges and Fundraising

(12:12) Building Solana and Overcoming Obstacles

(13:41) Solana's Vision and Market Strategy

(17:23) Navigating Crises and Team Resilience

(22:37) Solana's Unique Approach and Future Plans

(24:57) Solana's Unique Approach to Software Development

(26:35) Redesigning Solana: Lessons Learned

(30:22) The Importance of Hackathons and Community

(32:32) Technical Choices and Implications

(34:16) Prioritizing User Experience Over Developer Comfort

(36:40) Competitive Landscape of Layer 1 Chains

(38:49) Building a Loyal Developer Community

(42:36) Future of Blockchains and Solana's Vision

(47:29) Long-Term View and Goals

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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With AI, Anyone Can Be a Coder (with Github CEO)02 juin 202500:15:12

In this special episode from TED Tech, hear from GitHub CEO Thomas Dohmke on how AI is breaking the barrier to entry for coding. Who could a coder look like if you could code just by talking out loud? Learn how, thanks to AI, creating software is becoming as simple (and joyful) as building LEGO. In a live demo, he introduces Copilot Workspace: an AI assistant that helps you create code when you speak to it, in any language.

Timestamps:

(0:00) Introduction

(0:28) Personal Journey into Coding

(2:31) The Evolution of Programming Languages

(4:02) The Birth of GitHub Copilot

(6:14) Live Demo: Building with Copilot

(9:58) The Future of Software Development

(13:04) Q&A: The Role of Humans in AI-Driven Development

(14:32) Conclusion

About TED Tech:

From the construction of virtual realities to the internet of things — technology is changing our world every day. But how can we make sure that the quickly-evolving role that tech plays in our lives is one that builds, empowers, and connects us? Host Sherrell Dorsey guides you through the latest ideas from TED Speakers, uncovering the riveting questions that sit at the intersection of technology, society, science, design, business, and innovation. Listen in every Friday.

As a reminder, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
 


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AI vs. ID: Proof of human in a world of agents, bots, deep fakes, more30 mai 202502:04:31

with @eddylazzarin @adrian_ludwig @remco @smc90

Hi everyone, welcome to this week’s episode of web3 with a16z podcast, I’m Sonal, and today we’re talking about a hot topic which is also very evergreen because we’re entering a world where AI – including AI agents, bots, deep fakes, and so on -- are changing the internet, very drastically. And so we will need proof of who’s human, or not, online – aka “proof of human” (as Tools for Humanity and World app call it). 

The theme is actually represented on the latest cover of Time magazine, which features the Tools for Humanity orb: a ball-like hardware device that maps your eye’s iris code to an app on your phone to verify you’re human. (It’s actually only the fifth time in the past decade that hardware tech’s been on the cover; the other times are the iphone, Oculus, consumer drones, and SpaceX.) 

Since the technology -- and network -- story here draws on both existing and new tech to help solve what’s actually a *very* difficult problem -- and in a way where privacy is by default -- we begin with the why it matters, then go into some common questions, and finally how it all works under the hood. Our expert guests are: 

  • Eddy Lazzarin, CTO at a16zcrypto;
  • Adrian Ludwig, Chief Architect and CISO at Tools for Humanity; and
  • Remco Bloemen, Head of Protocol at World.

As a reminder: None of the following is investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information including link to a list of our investments. 


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Marketing 101 for Startups: Token Launches, Memes, Reaching Devs & More22 mai 202501:05:15

with @kimbatronic @amandatylerj @clairekart

Welcome to web3 with a16z. Since our show covers both tech trends and company building, today’s topic is all about marketing — including differences between marketing in crypto and traditional tech.

The conversation shares a candid look at what works — and what doesn’t — when it comes to building reputation and community, attracting developers, hiring teams and agencies, launching tokens, raising founder profiles, and more.

Our experts are:

... Amanda Tyler, who was most recently Head of Marketing at the Optimism Foundation (and was formerly at Polygon, Coinbase, and Google);

... Claire Kart, Chief Marketing Officer at Aztec (who previously was at Risc Zero and SoFi);

... in conversation with Kim Milosevich, CMO at a16z crypto (who was formerly VP of Comms at Coinbase, and who has spent decades in tech at a16z, Skype, Yahoo, and elsewhere).

Timestamps

(0:00) Introduction
(1:41) The Role of Marketers
(4:52) Tech Marketing vs. Crypto Marketing
(6:34) Understanding the Core Audience
(10:56) Marketing for Ethereum and Layer 2 Projects
(16:09) The Role of Community Managers and Developer Relations
(25:21) Token Launch Strategies
(34:42) Building Founders' Profiles (Without Being Cringe)
(38:53) How to Support Founders
(40:55) When to Hire 
(43:05) Consultants vs. Agencies
(46:08) Structuring a Marketing Team
(48:27) Finding and Hiring Talent
(50:36) Building an Editorial Content Operation
(53:39) International Marketing Strategies
(56:41) The Role of Events
(1:01:48) Memes and Crypto Culture 
(1:04:57) Conclusion

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Everything Stablecoins: Big Picture, Deep Dive15 mai 202501:08:58

with @cdixon @SamBroner @rhhackett

Stablecoins are quietly transforming how money moves — faster, cheaper, and more globally than ever before. 

In this episode, we take a deep look at why stablecoins have emerged as one of the most promising applications in crypto today — and how they could reshape global payments.

I’m joined by Chris Dixon, founder and managing partner of a16z crypto and author of the New York Times-bestselling book Read Write Own, and Sam Broner, a deal partner at a16z crypto who focuses on stablecoins. 

Together, we unpack the technical and regulatory foundations of stablecoins, explore the cracks in the current payments system, and look ahead to what becomes possible once digital dollars go mainstream. We also dig into the current state of regulation — and why the future of money might end up looking a lot more like email or the web than a bank.

Check out the show notes for links and resources that we reference throughout this episode. Also be sure to listen to the episode we dropped just before this one where we analyze all the recent stablecoin news.

Timestamps:

(0:00) Introduction

(1:45) Payments, Finance, and the Internet

(4:03) The Promise and Potential of Stablecoins

(9:02) Global Financial System and Its Shortcomings

(11:29) The WhatsApp Analogy

(15:38) The Read Write Own Thesis

(19:15) The Power of Blockchains

(21:06) Venmo's Business Model

(23:17) Stripe's Opportunity

(25:11) Backwards Compatibility (Like Skype)

(28:13) The Role of Stablecoin Regulation

(34:36) Political Realities (vs. Big Banks)

(38:11) The Business Implications of Stablecoins

(40:31) The Stablecoin Investment Paradox

(47:07) Why Blockchains?

(51:11) Tech Marketing: Words vs. Products

(54:28) What Happens Next

(57:26) Global Demand for Stablecoins

(59:37) Learning from the Past

(1:05:06) Conclusion

Links to related resources:

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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All the Stablecoin News: Stripe, Visa, Coinbase, Circle, More15 mai 202500:24:24

with @rhhackett @smc90 @DarenMatsuoka @SamBroner

Welcome to web3 with a16z, a show about the next generation of the internet. I'm Robert Hackett.

There has been a flurry of stablecoin news lately, so we're doing a special bonus episode to cover everything that's been going on. Sonal and I are joined by a16z crypto’s Data Science lead Daren Matsuoka who shares the actual data behind the stablecoin trend. Then we have Sam Broner — who is a Deal Partner here and our frequent author on stablecoins — to analyze the news, and help highlight the signal versus the noise.

Here's a selection of the news:

We also have one of our regular episodes covering the broader stablecoins trend and big picture, dropping separately in the feed, also with Sam and a16z crypto Founder Chris Dixon, so be sure to check that out next.

Timestamps:

(0:00) Introduction

(1:30) Stablecoin Data Overview

(3:55) Stablecoin Adoption and Infrastructure

(4:24) Market Share of Issuers and Blockchains

(6:10) Stablecoin Growth vs. Crypto Market Cycles

(7:45) Stablecoin News and Developments

(9:44) Fintech Embraces Stablecoins

(12:44) Legacy Payment Systems vs. Stablecoins

(17:04) The Future of Stablecoins and Open Networks

(22:11) Conclusion

Links to related resources:

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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Quantum Computing: What, When, Where, How08 mai 202501:15:13

with @danboneh @succinctJT @smc90

This episode is all about quantum computing -- what it is, how it works, what's hype vs. reality, and how to prepare for it/ what builders should do.

Specifically, we cover:

  • What quantum computing is and isn't, and what people are really talking about when they worry about a quantum computer that can break cryptographic systems that are not secure against quantum attacks.
  • When is it happening/ what are the "timelines" for quantum computing becoming a reality -- or rather, when could we have a cryptographically relevant quantum computer -- how many years away are we? and when are the U.S. government's deadlines/ NIST standards for post-quantum cryptography?
  • How will different types of cryptography be affected, or not? What are different approaches and tradeoffs?
  • Where does quantum computing and post-quantum crypto apply to blockchains -- which by and large rely on signatures, not encryption, so may be more quantum-resistant in many ways (and not in others)...

As always, we tease apart the signal vs. the noise in recent "science-by-press release" corporate quantum-computing milestone announcements. We also help answer questions on when do builders need to plan their switch to a post-quantum crypto world, what pitfalls to avoid there (hint: bugs! software upgrades!). Finally, we briefly cover different approaches to post-quantum crypto; and also dig deeper on zero-knowledge/ succinct-proof systems and how they relate to post-quantum crypto.

Our expert guests, in conversation with Sonal Chokshi, are:

  • Dan Boneh, Stanford University professor and applied cryptography expert and pioneer; also Senior Research Advisor to a16z crypto;
  • Justin Thaler, research partner at a16z, professor at Georgetown, and longtime expert and pioneer in interactive and ZK proof systems.

SEE ALSO: Post-quantum blockchains by Valeria Nikolaenko

more resources + papers on topics mentioned:

As a reminder, none of this is investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information including a link to our investments.


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Your Guide to Tokens: Types, Design, Uses, More25 avr. 202501:41:36

with @eddylazzarin @skominers @milesjennings @rhhackett

Today we're diving deep into *the* defining concept in crypto: tokens. 

We're moving beyond conventional categories — like “governance tokens” or “utility tokens” or even “memecoins” — to present a full taxonomy that details what tokens are, what they aren’t, and what they're capable of becoming.

Questions we'll explore include: What is a token? Is it a form of money? A piece of data? Something else? How many types of tokens are there — and who is in control of each? And how should we think about their actual economic, legal, and technical characteristics? We'll also dig into different token designs and their uses; where tokens derive value from; how they jibe with securities laws; and much more.

In this conversation, you’ll hear from several experts on the a16z crypto team who have developed a new 7-part framework for classifying tokens, which you can find linked below. Joining us are the coauthors: Chief Technology Officer Eddy Lazzarin, General Counsel and Head of Policy Miles Jennings, and Research Partner Scott Kominers, who is also a Professor at Harvard Business School where he teaches courses on market design and entrepreneurship. 

Check out the resources below for a flowchart that we’ll also be referencing throughout this episode and that will be helpful as we wend our way through the token idea maze.

Timestamps:

(0:00) Introduction

(3:28) The Evolution of Token Terminology

(6:19) Classifying Tokens: Economic, Legal, and Technical Dimensions

(8:37) Moving Beyond “Governance Tokens”

(12:05) Inherent Value: The Memecoin Debate

(15:35) Company-Controlled Tokens: Risks and Realities

(31:33) Arcade Tokens: Stability and Utility

(46:00) The Power of Blockchain Interoperability

(49:34) Shared Rewards and Loyalty Programs

(59:19) Asset-Backed Tokens and Their Mechanisms

(1:08:23) Collectible Tokens and Their Uniqueness

(1:14:31) Network Tokens: The Future of Decentralized Marketplaces

(1:31:03) Regulatory Challenges and "Lawyer Tokens" 

(1:36:57) Final Thoughts and Future Prospects

Resources referenced in this episode:

As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.


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