Venture Mandates, Cloudflare Wallets, Circle Earnings & Saddam Hussein Patek Philippe

What separates lasting winners from everyone chasing the next trend?

This week, we dig into why specialization may be the biggest edge in venture investing as crypto, AI, and traditional finance increasingly converge.

We discuss venture mandates, stablecoin competition, Circle's earnings, Cloudflare's agent wallets, and why reputation compounds faster than capital. Enjoy!

TIMESTAMPS:

00:00 Intro

04:05 Crypto Venture Expands Beyond Crypto

09:20 Can Crypto Funds Go Generalist?

16:06 The Hidden Cost Of Dilution

22:43 Crypto Venture Enters Hard Mode

28:39 Ads (Peaq)

29:25 Cloudflare Bets On Agent Wallets

41:04 Is Circle Stock Mispriced?