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What’s next for crypto?

Bitvo | Tristram Waye | Jun 23, 2022

Running Money - What’s next for crypto?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.

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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.

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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

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NCFA Jan 2018 resize - What’s next for crypto?The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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