The Milk Road Show AI Agents Will Need Crypto to Work (Here’s Why) w/ Tom Schmidt
13 snips
Mar 4, 2026 
Tom Schmidt, General Partner at Dragonfly and former product lead at 0x, Facebook, and Apple. He explores why crypto and stablecoins could become the payment rails for agentic AI. Short takes cover verifiable identity for AI content, distributed inference to ease GPU shortages, and tokenization opportunities like RWA perpetuals. Conversations focus on how blockchain and AI infrastructures might interlock.
AI Snips
Chapters
Transcript
Episode notes
Seek Underrated Areas To Avoid Crowded Deal Races
- Prefer less crowded, underrated sectors where competition is lower and you can spend time finding durable founders.
- Tom recommends being patient and valuing areas that allow deeper collaboration rather than 24-hour deal races.
Polymarket Grew From Elections Into Broad Event Trading
- Dragonfly invested early in Polymarket and watched prediction markets expand beyond elections into sports and short-term event trading.
- Tom describes Polymarket users mostly consuming info, with 99.9% visiting without trading and using markets for tracking events.
Why Crypto Founders Resented Kalshi's Entry
- Tension with Kalshi stems from perceived bad behavior and stolen crypto 'valor' when a TradFi entrant downplayed Polymarket's founder during legal scrutiny.
- Tom recounts the FBI raid on Polymarket's founder and criticizes Kalshi for influencers and misleading crypto positioning.