a16z's $2.2B Crypto Fund, AI Psychosis & FIDI to SoHo - Guy Wuollet

Summary

Thread Guy interviews Guy Wuollet, a general partner at a16z crypto, about their newly announced $2.2B crypto fund. They discuss why crypto is winning despite depressed sentiment, the convergence of traditional finance and on-chain markets, and opportunities in stablecoins, prediction markets, and compute/energy markets. Wuollet emphasizes that crypto businesses have strong network-effect defensibility compared to AI SaaS, and that the next big opportunity is building new financial infrastructure on-chain.

• a16z announced its fifth crypto fund at $2.2 billion.
• Guy Wuollet argues crypto is winning due to regulatory progress and infrastructure improvements.
• Talent is shifting from crypto to AI, but Wall Street professionals are moving into crypto.
• Stablecoin adoption and tokenized RWAs are driving on-chain credit market growth.
• Prediction markets like Polymarket have a growing total addressable market.
• Compute and energy markets are seen as the next frontier for on-chain financial infrastructure.
• Crypto network effects provide stronger defensibility than AI/SaaS businesses.
• Wuollet advises a contrarian, long-term approach focused on backing top founders.