Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
What’s next for crypto?
Bitvo | Tristram Waye | Jun 23, 2022
Right now, crypto is in transition, and this is the perfect time to be reflecting on what the next big thing might be.
And as traders and players in the space, thinking about what’s ahead is the key to identifying that next big thing.
Which reminded me of Andy Kessler. He was an old Wall Street maven and fund manager. In one of his books, he had a story about meeting a Swiss investor on a plane. That discussion over a five-hour flight led to a series of deep dives into innovation history.
So I grabbed Kessler’s Wall Street Meat off the shelf to refresh my memory.
Whoops. Wrong book.
It’s great, but the one I want is Kessler’s Running Money.
In Running Money, Kessler shows us how he developed an investment thesis while managing a hedge fund. And he tells us in great detail how he figures out what the next big thing might be.
See: Crypto Pragmatist: Checkout these free crypto (trading) tools
He does this by exploring the evolution of other innovation periods and the key insights he gets from them.
And as a bonus, he’s doing this during Web1, so the entire book is like hopping in and out of a time machine.
Running Money
Running Money gives you insight into what it’s like to be a hedge fund manager in the beginning and through the dot.com boom. Published in 2004, this is a great reference to the evolution of the thinking at the time.
Prior to running money, Andy had been on Frank Quattrone’s team. Quattrone was a legendary Wall Street investment banker that started numerous tech teams around the street. His team brought key companies public, including Netscape, Cisco, and Amazon. Kessler’s book Wall Street Meat was about his days as an analyst.
Kessler left this team and went on to start his own fund. Running Money is about his days as a fund manager. If you’ve read Soro’s legendary Alchemy of Finance, this is a similar journal style, only more fun to read.
Read: Alberta, The untold history of innovation from Canada’s badlands – Part 1
In the book, Kessler has a chance meeting with a Swiss investor. They start talking about how Silicon Valley does what it does.
What makes the Valley what it is.
So Kessler embarks on a journey through the evolution of the industrial revolution. Then explores how this applies to technology.
These sections are connected with entertaining interludes about what he was doing as a hedge fund manager.
- Scale through efficiency and innovation
- The Silicon Valley model
- Crypto and the search for efficiency and scale
- Crypto: industrial + tech
- Cross-chain integration is the new fabric
- From blockchain to the future
Continue to the full article --> here
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