Bell Curve Oneshot: Market Uncertainty, AI Valuations, and Crypto’s Path Forward | Roundup
Mar 13, 2026
They dive into market volatility after geopolitical shocks and where capital is flowing in crypto. The conversation contrasts frothy private AI valuations with public multiples and the role of secondaries. They explore taking tokens private and a new perpetual preferred share product tied to bitcoin. Finally, they sketch recovery narratives and how miners could support AI data center power needs.
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24/7 Trading Is Making Markets More Volatile
- Markets are becoming 24/7 and more volatile as new trading venues let commodities and large caps move tens of percent intraday.
- Michael Anderson points to Hyperliquid driving violent oil moves and suggests regime change where indices hide deep structural shifts across sectors.
Private AI Valuations Far Outpace Public Comps
- Private AI valuations are surging far ahead of public comps as AI-native startups hit rapid ARR growth in months rather than years.
- Vance Spencer and Michael Anderson contrast Lovable's 20x private multiple versus Figma's ~3x public multiple driven by steep month-over-month growth.
Sister-In-Law Used Lovable To Build Event Pages Instantly
- Michael Anderson recounts his sister-in-law using Lovable to make event invites and websites in minutes, illustrating AI-native ease of use.
- He contrasts that hands-on example with Figma's slower year-over-year growth to show how AI UX drives rapid adoption.