Naval Ravikant On How Crypto Is Squeezing VCs, Hindering Regulators And Bringing Users Choice
Unchained
00:00
The Disruption of ICOs
In biology terms, there is a predator-prey relationship. We in these two characteristics, although there's an evolutionary arms race. Every time the entrepreneurs get a new instrument, the VCs need to evolve to make sure they don't get taken advantage of and vice versa. Historically, the entrepreneurs were always at a huge disadvantage because the VCs do thousands of deals and they stick around for a long time. But now the internet is leveling that great playing field. I'm not saying it's perfect. It's not going to happen overnight. So as we can see, when we've opened up the market from just VCs to ICOs, the valuation of the pricing has literally increased
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