Midas List No.1 Chris Dixon and a16z crypto's $4.5 billion fund, a record for venture funds in the sector, comes as prices have crashed recently.
of the world’s top venture capitalists, is trading down more than 75% for the year to date. With its market cap trimmed to about $14 billion, the company recently released a TV ad mocking past declarations of crypto’s demise. .Against that backdrop and the public skepticism, and concern for retail investors, that comes with it, a16z crypto’s plan is to stay the course.
The post doesn’t address crypto’s current bearish turn. Simpson, for her part, says that she and her partners have invested in crypto long enough to have weathered several such cycles. When prices deflate and speculation diminishes those left behind tend to be more long-term technologists interested in building lasting technology, she argues. “The cycles are part of the process,” Simpson says.
Such an argument fits a VC firm’s strategy – it can invest at lower prices in companies, given its time horizons and capacity for risk – but tends to gloss over the individuals who opened crypto wallets in recent months, perhaps say, after