Austin on two reasons crypto may be hard for VCs to invest in: big banks eating away at the value, and VCs lacking fintech operator experience "I think the investability of…

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Austin on two reasons crypto may be hard for VCs to invest in: big banks eating away at the value, and VCs lacking fintech operator experience "I think the investability of crypto may be a problem fo…

Austin on two reasons crypto may be hard for VCs to invest in: big banks eating away at the value, and VCs lacking fintech operator experience "I think the investability of crypto may be a problem for the VCs more than the reality of crypto returns across the whole market. There's two reasons for that." "One, I think we're seeing large firms coming in and starting to eat away at the value proposition. Maybe one of the most hilarious and therefore most likely outcomes is that one of the big winners from crypto are the large banks." "Also, the VCs themselves, to be honest, don't have a great track record in terms of investment when you look at fintechs writ large. There are not a lot of VC partners who have been good fintech operators. Those who are, are typically in payments." "Go to any of the major VC firms and find somebody who started up a bank or a trading firm. They're just not there. So that gives you a whole set of operator knowledge that they don't have." "I've seen that play out over and over when I looked at investments that were being made, and I'm like, mechanically, that's not gonna work."

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