Avichal - Electric ϟ Capital
@avichal
Co-Founder @ElectricCapital; Views are my own; DYOR
> Be 22 y.o. > 1st time in NYC > Get lost on subway > Dream up Google Transit > Have no idea how hard it would be to build > Bunch of talented, naive people build in spare time (shoutout @chrishtr, @twephanie, @KatieS) > Grows to 1B MAU Naivety is a feature, not a bug
1/ In 2005, @avichal visited NYC and kept getting lost on the subway. Late to dinner and frustrated, he wondered: If Google Maps can route me anywhere by car, why can’t it get me on the right train? So on his flight home, he wrote the product spec for Google Transit. 🧵
I think Intents from @NEARProtocol may have product market fit.
Sui is now live on @NEARProtocol Intents. Swap from 20+ chains straight into Sui. No bridges. No gas juggling. No hopping through five wallets to make it work. Just one click, and you're in. Learn more 👇 blog.sui.io/near-intents-a…
One of the coolest companies in SF in my opinion I'll do a write-up on why @sfcompute is such an interesting take on where the GPU market is headed... In the meantime, get GPUs for 85% cheaper than the hyperscalers 👇
We've partnered with Modular to create Large Scale Inference (LSI), a new OpenAI-compatible inference service. It's up to 85% cheaper than other offerings & can handle trillion-token scale. We originally created it at the request of a major AI lab to do large scale multimodal…
“Who is the crypto user?” This was the question we have been grappling with recently, culminating in our release today of the first major market mapping survey of crypto users. Spoiler: crypto owners are more diverse in their views, interests, & beliefs than even I expected. 🧵
Most L1s will die off because they try to be all things to all people. The winners will be the ones like Atlas that start with use cases and users in mind, and make opinionated, deliberate trade offs.
x.com/i/article/1940…
1/ Ethereum is the backbone of the largest decentralized financial economy in the world. Here’s the data, and why it matters for ETH 📈
dYdX has acquired Pocket Protector! Eddie Zhang (@epic_edge_) joins as President, and @kaiserkinbote as Head of Growth, alongside their top class engineering team Pocket Protector will power dYdX’s upcoming expansion into spot, social, and beyond dydx.xyz/blog/dydx-acqu…
Congratulations to everyone at @coinbase $100,000,000,000 marketcap is a lot of 0's!
1/ L2s aren’t just scaling Ethereum. They’re scaling demand for ETH. • 50K+ ETH bridged to L2s weekly • ETH = 35% of L2 lending collateral • Every new wallet = more ETH to hold, trade, and stake L2s turn ETH into the monetary base of the on-chain economy.
"Demand for ETH Will Likely Increase as it Becomes the Reserve Asset of the New Digital Dollar Economy" Awesome new Ethereum report from @ElectricCapital! Read: electriccapital.substack.com/p/beyond-stabl…
Stablecoins are spreading the dollar faster than any financial tech in history. And Ethereum is becoming the financial backbone. For Ethereum’s 10th birthday, we’re publishing our updated @ElectricCapital ETH thesis: Remaking the Case for ETH 🧵 1/
1/ We're on the precipice of the most fundamental computing revolution I've seen in my life. You should have FOMO. Don't waste it in local maxima. The $1M @southpkcommons Founder Fellowship application is open. Here’s what it takes to build at venture-scale in the age of AI:
ETH turns 10 this month. BTC turned 10 in 2019 -- right before institutions piled in. History doesn’t repeat, but it rhymes.
Stablecoins are spreading the dollar faster than any financial tech in history. And Ethereum is becoming the financial backbone. For Ethereum’s 10th birthday, we’re publishing our updated @ElectricCapital ETH thesis: Remaking the Case for ETH 🧵 1/
Sundial has raised $23M to build the analytics platform for the AI era! Our work is personal to me (though many have asked: Why? Aren't you into intuition and taste and experience which is ultimately unmeasurable?) But hear me out: I love building, and I have a deep respect for…
Honored to share that Kuru has raised $11.6M led by @paradigm Rohan and I are truly grateful for the trust and belief from one of the best partners in crypto. This funding provides us the resources to build decentralised global markets and reimagine on-chain trading. The next…
Kuru is excited to announce our $11.6m Series A round led by @paradigm This funding will help us scale our team and bring our vision of a fully on-chain orderbook to life on Monad.
The OBB Bill inadvertently made @Kalshi & @Bitnomial much more valuable Gambling losses are now capped at 90% But prediction markets are not gambling!! Losses are 100% deductible. CFTC contracts are also 60% long-term cap gains. Prediction markets about to 🚀 h/t @0x9e0ff
25,000 devs are building in open source crypto right now. The Electric Capital Developer Report site now updates weekly, not yearly. You can now track live dev stats for Bitcoin, Ethereum, Solana, and more. (1/6) ⬇️
.@figma S-1 filing shows they bought $55m of #Bitcoin via the @BitwiseInvest ETF Timeline of BTC adoption: -- Early Adopters Retail Institutional Investors Corporate Treasuries <--- we are here Central Banks
Just decompiled Robinhood's tokenized stock contracts. It's a walled garden, every transfer checks a registry of approved wallets (kyc/aml) It's unlikely these tokens can interact with defi It's very possible cefi with distribution just outcompetes existing defi protocols
Today in the MIT Technology Review, I explain why the Bank Secrecy Act, a Nixon-era law, is no longer fit for a modern era where nearly every financial transaction is trackable without a warrant. Our financial data is among the most sensitive personal information we produce.…
The Bank Secrecy Act is failing everyone. It’s time to rethink financial surveillance. trib.al/ka90Tqx
Thrilled to welcome @Paxos as CCI’s newest member. I’ve long admired their leadership in building trusted infrastructure and advocating for smart policy. Excited to deepen our partnership at this pivotal moment for digital assets.
Welcome to CCI, @Paxos