a16z crypto show

What happens when AI becomes the primary economic actor?  In this conversation, Sean Neville (cofounder of Circle, architect of USDC, and now cofounder of Catena Labs) shares his vision for the next phase of the internet: an agent-native economy powered by programmable dollars and AI banks.  As stablecoins put dollars on internet rails, a new question emerges: what happens when AI agents start earning, spending, lending, investing — and even managing our assets — on our behalf?  From KYA (“Know Your Agent”) to programmable spending policies to secure agent communication standards, this conversation explores the foundational layers that must be built before AI can safely participate in the global economy.  Sean breaks down:  Why he believes AI agents could become the dominant economic participants What an “AI-native bank” actually is (and why we’ll need one) The missing infrastructure required for safe agent-to-agent payments How cryptography can encode trust directly into software Why current financial risk systems are designed to block bots — and what needs to change The fragmented race to define standards for agent identity, payments, and communication- Lessons from building Circle and launching USDC Why he doesn’t love the term “stablecoin” Follow a16z crypto for more...  X: https://x.com/a16zcrypto LinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/ YouTube: https://www.youtube.com/@a16zcrypto 📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ ***  As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Restaurants generated more than a trillion dollars in sales last year — but they don’t control the payment rails those dollars flow through.In this episode, Ben Leventhal (founder of Eater, Resy, and now Blackbird) joins Robert Hackett to explain why that’s a problem, how loyalty and payments have failed independent restaurants, and where crypto fits into fixing it.Ben breaks down:Why most restaurant tech misses the pointHow Blackbird uses crypto without making restaurants think about cryptoWhat “restaurant-first” really means in payments and loyaltyWhy decentralization only makes sense at scaleLessons from building multiple companies in hospitalityWhy we’re living in the golden age of restaurantsPlus: favorite NYC spots, founder productivity hacks, and the smallest hill he’ll die on.This is a grounded conversation about technology, ownership, and the future of restaurants — from someone who’s been building in the space for over a decade. Follow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @zcabrams @rhackettWhat happens when money moves 10x — or 100x — faster than it does today?In this episode, Zach Abrams, cofounder and CEO of Bridge (now part of Stripe), lays out a bold vision for the future of money: a world where stablecoins become the dominant payment rail, most transactions happen between non-human agents, and entirely new financial infrastructure is required to keep up.Zach explains why stablecoins are the next evolution of fintech, much like credit cards were decades ago — and why we’re still in the very early innings. We dig into agentic payments, AI-to-AI commerce, micro-transactions on the open internet, and what Stripe is building by assembling stablecoin infrastructure across the stack.Along the way, we cover:Why cards succeeded — and what stablecoins must learn from themHow AI agents could drive the majority of future paymentsWhat breaks when the velocity of money increases 10xStripe’s long-term strategy behind Bridge, Privy, and TempoThe case for open, decentralized payment infrastructureZach’s unconventional views on management, productivity, and product-market fitIf you’re curious about the future of payments, fintech, crypto, AI agents, or the economic foundations of the next internet, this conversation offers a look several steps ahead.Highlights:00:00 Introduction00:36 Stablecoins: The next platform for money01:38 Credit cards had a moral panic too03:29 What stablecoin infrastructure still needs to be built05:22 The use cases no one predicted11:11 Why Stripe is building with crypto13:08 Why payments infrastructure must stay open15:12 Lightning round: Bad advice, great books, and deep workFollow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @alive_eth @rhacketta16z crypto General Partner Ali Yahya explains why privacy — not performance — will determine the long-term winners in crypto, and how it creates powerful network effects. In conversation with a16z crypto show host Robert Hackett, Ali lays out how privacy creates lock-in and winner-take-most dynamics — without sacrificing decentralization. They also dive into the technologies making privacy possible today, from zero-knowledge proofs to trusted execution environments, and why financial use cases will drive mainstream adoption first.They cover:Why blockspace is becoming a commodityWhy users tolerate surveillance in social media—but not in financeHow anonymity sets work and why secrets are hard to migrateThe real trade-offs between privacy, composability, and decentralizationThe four privacy technologies shaping the next generation of blockchainsHighlights:00:00 — Introduction01:41 — Blockspace is becoming commoditized03:11 — Privacy as lock-in: why secrets are harder to move than assets06:01 — Do people actually care about privacy?08:51 — Beyond finance: social, gaming, and private onchain apps11:55 — Privacy zones, anonymity sets, and network effects18:46 — Winner-take-most dynamics, explained20:22 — What it means for crypto’s decentralization ethos23:06 — Is privacy lock-in different from web2 lock-in?28:31 — The privacy tech stack: ZK, MPC, TEEs, and FHE32:13 — What this means for builders and investors33:18 — Future considerations: Quantum computing and AIFollow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @PalmerLuckey @cdixonIn this special episode — our 100th on the a16z crypto show! — Chris Dixon interviews Palmer Luckey (founder of Anduril; founder of Oculus VR and designer of the Oculus Rift) to talk about the future of technology, belief, and building.What does it take to build hardware at scale? Where are many of today’s tech bottlenecks? And what's the case for optimism about the future despite growing geopolitical turmoil, regulatory constraints, and other blockers to innovation? The candid, wide-ranging conversation covers crypto, banking, and stablecoins, as well as modern warfare, the U.S.–China technology race, AI and manufacturing, and much more. Dixon also digs into company building in good times and bad with Luckey; the conversation was recorded live at our Founders Summit. Highlights:0:00 — Introduction2:08 — Early Oculus: Why VR was hard8:02 — Bitcoin & early crypto days9:49 — The Facebook acquisition13:36 — How successful was VR, really?18:59 — Starting Anduril20:01 — Hiring for mission ("Don't Work at Anduril")23:59 — How Anduril works (product dev, org design)27:47 — How Palmer stays ahead of the curve33:00 — The US-China technology race34:40 — What Putin understood early about AI39:45 — Stablecoins & banking risk45:00 — Politics as bottleneck47:00 — Future of technology: AI, fusion, quantum50:23 — Automation, abundance, and optimism53:23 — Ukraine, drones, and the reality of warFollow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @ccatalini @rhackettToday we’re talking about who — if anyone — should own the rails of global money.Our guest is Christian Catalini, cofounder and chief strategy officer of the global payments startup Lightspark, and a former architect of Meta’s shuttered Libra project — one of the most ambitious attempts to create a corporate-backed digital currency.In this episode, we talk about…why Bitcoin is more than “digital gold,” what Christian learned from his time at Facebook, and why he believes openness — not corporate control — will ultimately winChristian also wrote a feature for us expanding on his argument, which you can read by subscribing to a16z crypto on Substack. Check it out and let us know what you think.This episode is part of a special series of interviews we recorded live at our Founders Summit in October. Follow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @PrimordialAA @rhackettIn this episode, host Robert Hackett sits down with Bryan Pellegrino, cofounder and CEO of LayerZero, one of the core infrastructure projects that enables blockchains to talk to one another. We talk about why crypto went multichain, what it means for crypto to compete with legacy financial systems, and a lesson Bryan took firsthand from Elon Musk. We also get into Bryan’s background as a professional poker player, and how that has shaped his views on competition, conviction, and focus.We go deep on founder psychology:– When founders must replace early leadership — and why no one talks about it– Why conviction matters more than advice– And why the hardest decisions are the ones no playbook prepares you forHighlights0:00 – Introduction0:47 – The need for interoperability1:04 – How crypto went multichain2:51 – The institutional adoption of crypto6:56 – Focus and conviction13:19 – The nature of competition14:43 – Elon Musk's game-changing advice18:48 – The importance of self-disruption20:08 – Lightning round22:56 – Challenges in scaling a company26:46 – Book recommendations and productivity hacks28:19 – Core principles and company cultureThis episode is part of a special series of interviews we recorded live at our Founders Summit in October. Follow a16z crypto for more...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @LairdLife @GabbyReece @AriannaSimpsonToday's episode features two people who’ve spent their careers performing at the highest levels in sport and business: big-wave surfing pioneer Laird Hamilton and former pro volleyball star Gabby Reece. They join a16z crypto General Partner Arianna Simpson for a conversation that explores what it takes to endure and excel over decades — how to get back up after setbacks, when to push versus change course, and how to build resilience and adaptability. They also get into stress, burnout, intuition, and why experience and self-care matter as much as data.It’s a fitting conversation as we head into the New Year: a moment to reflect on habits, goals, and the kind of people we wish to become.They cover:– How extreme environments teach resilience– When to keep pushing forward (and when to walk away)– Why adaptability matters more than strength or intelligence– How data confirms intuition– What it takes to sustain performance across decadesHighlights:(0:00) Opening on ambition, discomfort, and pushing beyond limits(0:55) A near-fatal big-wave wipeout and the decision to return(2:57) Learning how to recover after fear, injury, and loss(3:55) When to keep going and when to stop(6:10) Are you attracting the right people?(6:39) Adaptability as the core skill for uncertain environments(8:22) Sustaining energy over decades(10:42) Approaching work with a beginner’s mindset(11:58) Working together under pressure(15:00) Taking a company public(16:37) Breaking bad habits and forming good ones(18:20) Science & data confirming instinct(20:58) Daily practices that matter(24:06) Personal scars and the early experiences that shape resilience(26:32) Choosing the right people(28:30) Practical ways to de-stress and regain focusFollow a16z crypto on...XLinkedInSpotifyApple PodcastsYoutube📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: 🎙️ Like, subscribe, comment, share the show.***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @smc90 @rhackett @stephbzinn @Tim_OrgIn a now-annual tradition, the a16z crypto editorial team discuss themes (and picks) from a16z crypto's latest reading lists, as well as books we keep re-reading, childhood favorites, classics, adaptations on adaptations — in book and movie form! — and much more.We cover:What genres are we reading now, how, and why?How is technology — from AI and ChatGPT to the internet and audio — changing reading?Why are certain themes in the zeitgeist right now?Is all non-fiction just fiction now (and should we lean into this for education)?Are the kids alright?From irony, truth, and why context matters, to Machiavelli, Formula 1, and nautical non-fiction this episode has it all... check out our "what we're reading" lists, podcasts, and more here:https://a16zcrypto.com/posts/tags/what-were-readingHighlights(0:00) Overview of the summer reading list(0:33) The list goes beyond tech and business books(2:02) Formula One, optimization, and recurring reading themes(3:12) Favorite picks: ASML, semiconductors, and industrial history(4:50) Memoirs, grief, and reading for emotional understanding(6:40) Why nonfiction feels broken — and what replaces it(8:20) Adventure, boats, and narrative nonfiction(11:39) Letters, primary sources, and Renaissance writing(17:30) Antimimetics, ideas that resist spreading, and fresh nonfiction(19:00) Mark Twain, irony, influence, and unreliable narrators(24:16) Podcasts/the internet as book discovery engines(26:10) The internet replaces nonfiction?(27:31) Anne of Green Gables and its effects(30:21) The role of the author in fiction vs. nonfiction(32:00) Historical fiction, context, and why it still matters(38:12) Machiavelli and interpreting texts across time(45:43) Gothic fiction, Dracula, and modern adaptations(51:00) Film adaptations and creative ownership(55:16) Audiobooks, narration, and reading styles(1:00:54) Reading aloud, poetry, and rhythm(1:06:44) Childhood books that shape worldview(1:15:24) Young adult books worth revisiting(1:18:29) Closing reflections and where to find the full list***Follow a16z crypto on...XLinkedInSpotifyApple PodcastsYoutube📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: 🎙️ Like, subscribe, comment, share the show.***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @BChillman @jay_drainjr @rhackettCrypto wallets are no longer just wallets. They’re the front door to a decentralized internet.In this episode, Phantom CEO Brandon Millman joins a16z crypto Investment Partner Jay Drain and host Robert Hackett to unpack how crypto wallets are evolving into full-blown consumer finance platforms — and why they may be the most credible candidates to become the internet's next super apps.We explore Phantom’s journey from a Solana-first wallet to a multi-chain platform, why wallets are uniquely positioned to win trust around money, and how features like onchain trading, perps, social feeds, prediction markets, and payments are reshaping what people expect from a consumer finance app.The conversation also dives into:Why starting with finance may be a better path to a super app than starting with socialHow Phantom thinks about UX, trust, and security in cryptoThe rise of perpetual futures (perps) and prediction marketsWhat the FTX collapse meant for Solana — and the counterintuitive silver liningWhether AI agents could one day replace apps and browsersIf you’re curious about where crypto, fintech, and consumer apps are headed next — and why wallets may become the most important interface on the internet — this episode is for you.Highlights01:32 – The evolution and role of crypto wallets2:42 – Wallets vs. browsers: the right mental model12:03 – Phantom’s origin story and the Solana bet19:05 – Perps, trading, and product-market fit26:08 – UX, trust, and consumer finance30:52 – Social feeds, discovery, and network effects35:21 – Crypto as "black hole" absorbing finance37:09 – AI agents and the future of walletsFollow a16z crypto on...XLinkedInSpotifyApple PodcastsYoutube📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: 🎙️ Like, subscribe, comment, share the show.***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @zcabrams @psneville @rhackettIn this episode, Robert Hackett sits down with Sean Neville, cofounder of Circle and co-creator of the USDC stablecoin, and Zach Abrams, founder of Bridge (now part of Stripe), for a deep dive into the real story behind stablecoins, finding product-market fit, and the future of payments infrastructure.They explore the earliest days of USDC — when stablecoins were far from obvious and regulatory frameworks didn’t exist. Sean shares how his conviction in “money running at internet speed” helped shape a multibillion-dollar asset. Zach recounts Bridge’s pivot from NFTs to stablecoin infrastructure — and how his business has changed since joining Stripe.Together, they break down:Why stablecoins are having their moment nowWhat counts as product-market fit (and why founders rarely “feel” it)The challenges of building crypto and AI products within heavily regulated environmentsWhy new base-layer chains like Arc, Tempo, and others may be neededHow decentralization, liquidity moats, and interoperability will define the next decade of blockchain adoptionWhat the future of programmable money and AI-driven financial workflows looks likeWhether you’re a founder, a crypto-curious builder, or someone trying to understand where global payments are headed, this conversation — originally recorded live at our recent a16z crypto Founders Summit — offers insights from two operators at the center of an industry-defining transformation.Guests:• Sean Neville — Cofounder, Circle; CEO and cofounder, Catena• Zach Abrams — Founder and CEO, Bridge (acquired by Stripe)Highlights:01:26 — Origins of USDC02:44 — Why stablecoins are having their moment now04:14 — Circle’s early product experiments06:19— Surviving crypto cycles07:35 — Bridge: From NFT payments to stablecoins08:58 — What product-market fit actually feels like20:02 — Inevitability and the founder vs. employer mindset20:58 — Why Bridge joined Stripe26:18 — How AI changes company building29:38 — What students should study now30:27 — Why new payment chains (Tempo & Arc)?35:55 — Decentralization as imperativeFollow a16z crypto on...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Every traditional financial institution faces the same dilemma: evolve or fall behind, build or buy. But when safety, predictability, and trust is paramount, how do traditional finance companies innovate? How do they place their innovation bets, and decide what to explore and not to explore? Fidelity Chairman and CEO Abigail P. Johnson shares an inside look into Fidelity’s decade of crypto experimentation -- from early Bitcoin mining to building foundational custody infrastructure to stablecoins and much more. Johnson shares how Fidelity explored dozens of crypto use cases; why only one initially mattered, and how a single foothold shaped a long-term institutional strategy. This episode is for anyone interested in exploring how innovation happens inside companies, how startups can partner with big institutions, how TradFi is approaching crypto in this "Year of Institutional Adoption"... and what the next decade of financial infrastructure might look like.We originally recorded it at our Founders Summit event in October 2025, in conversation with a16z crypto COO Anthony Albanese, who was the Chief Regulatory Officer of the New York Stock Exchange before joining a16z; and was previously acting superintendent of the New York State Department of Financial Services (DFS), where he signed and issued New York’s first-ever BitLicense.As a reminder, none of the following is investment, business, or tax advice; please see a16z.com/disclosures for more information.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @cdixon @illscienceWelcome to web3 with a16z crypto. Today’s episode digs into the forces shaping the next generation of consumer software — from AI-driven tools to the new economics of apps.Joining is Chris Dixon, a16z crypto founder and managing partner and one of the firm’s original consumer investors. He sits down with a16z General Partner Anish Acharya to explore how exponential forces — like Moore’s Law, composability, and network effects — help determine which products ultimately win.They talk about what it takes to build enduring consumer apps, how tools evolve into networks, and why niche communities like early crypto and open source movements can trigger massive technological shifts.Topics covered:- What exponential forces define tech progress- Moore’s Law, composability, and network effects- How tools evolve into networks- The new economics of paid consumer software- Investing in “movements” — from 3D printing to crypto- What makes niche communities powerful- AI as a platform shift and the “idea maze”- Native vs skeuomorphic tech — and what’s next for AI interfaces- The future of open-source AI and decentralizationFollow a16z crypto on...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @mansourtarek_ @rhackettIn this episode of web3 with a16z crypto, host Robert Hackett talks with Kalshi Cofounder and CEO Tarek Mansour about how prediction markets are enabling people to trade directly on real-world events — from elections to inflation — and what this means for the future of finance and forecasting.Tarek explains why prediction markets aren’t gambling, how regulation has been central to Kalshi’s success, and why the company is embracing crypto and stablecoins as key components of its international strategy. He also discusses lessons learned about policy, product design, and staying compliant while innovating at the frontier.Topics include:How prediction markets make society "smarter"The role of regulation in fintech innovationWhy Kalshi started with crypto paymentsLessons from FTX and the importance of complianceBuilding consumer trust and network effectsTarek’s take on productivity, leadership, and even… kombuchaThis episode kicks off a special series of interviews recorded live at our recent Founders Summit. Subscribe to web3 with a16z crypto for more conversations with founders and builders shaping the decentralized future.Timestamps:00:00 – Introduction: What are prediction markets, and why now?01:04 – Kalshi’s mission: making forecasting tradable01:52 – Why crypto fits into Kalshi’s long-term strategy03:19 – Going global with stablecoins05:55 – The long road to regulation and why it mattered7:51 – Coinbase and Robinhood as role models08:17 – The Trump trade: direct vs. indirect exposure to events10:51 – Lessons from FTX and why compliance is a moat12:06 – How Kalshi monitors markets and prevents manipulation 15:00 – Momentum after the presidential election16:48 – How policy in DC really works17:56 – The hidden advantage of being regulated18:52 – Lightning round: worst advice, productivity habits, and more21:00 – The importance of process and patience (“The Score Takes Care of Itself”)22:30 – The smallest hill Tarek will die onFollow a16z crypto on...X: https://x.com/a16zcryptoLinkedIn: https://www.linkedin.com/showcase/a16zcrypto/posts/Spotify: https://open.spotify.com/show/7pMZvsNXEnb0CYcPiDQywEApple Podcasts: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549Youtube: https://www.youtube.com/@a16zcrypto📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @DavidSacks @pmarca @bhorowitz @eriktorenbergToday’s episode features David Sacks, the Trump administration’s “AI and crypto czar," in conversation with a16z cofounders Marc Andreessen and Ben Horowitz, and General Partner Erik Torenberg.They dig into:how the U.S. is approaching AI and crypto policy,the fight over open source software,the status of tech regulation and legislation (like the CLARITY Act for crypto),what’s at stake in the geopolitical race with China, and moreThis episode is a special crossover with the a16z podcast, which you can follow for more conversations like this.Timestamps:00:00 Intro01:16 David Sacks on Crypto and AI Policy02:34 Trump's Vision for Crypto06:16 The Crypto Crackdown and Debanking Years08:58 AI Regulatory Capture and Gatekeeping11:30 How Permissionless Innovation Built Silicon Valley16:21 "Woke" vs. Orwellian AI21:48 When AGI?24:29 Polytheistic AI and "End-to-End" Humans31:07 The Future of AI: Controlled or Decentralized?37:13 Open Source and Global Competition41:53 The AI Race: US vs China46:32 Amping Up Energy and Infrastructure47:17 Cultural Divides Over the American Tech Stack55:01 The European approach and Doomerism01:06:14 Crypto and the Legislative Process (GENIUS, CLARITY)01:11:13 The Future of the Democratic Party01:14:12 San Francisco Politics📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resourcesfrom a16z crypto: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @DarenMatsuoka @eddylazzarinToday, we’re bringing you something special: a presentation from our 2025 Founders Summit, which we just wrapped last week in beautiful Carlsbad, Calif. You’ll hear from Daren Matsuoka, our Head of Data and Fund Strategy, as he walks through the insights from this year’s State of Crypto report — our deep-dive into the data, themes, and signals shaping the industry right now.Stay through to the end for audience Q&A featuring our founders and to hear a16z crypto CTO Eddy Lazzarin share his takes on this year’s findings. To watch the full video — and explore more deep dives, explainers, and interviews — visit the a16z crypto Youtube channel. Don’t forget to like and subscribe to stay updated.Oh, and if you haven’t already, be sure to check out the full State of Crypto report at a16zcrypto.com/stateofcrypto, and also to listen to the episode just before this one — a conversation between Daren, Eddy, and me where we unpack the numbers and trends, explain what they mean, and why they matter.Timestamps:00:00 Introduction01:56 Crypto Market Developments in 2025 07:19 Institutional Adoption and Market Trends09:05 Stablecoins: The First Killer Use Case 12:08 The Evolution of Decentralized Finance (DeFi) 13:18 DePIN and Physical Infrastructure Networks 15:12 Blockchain Scaling and Infrastructure 17:24 Privacy, ZK Technology, and Quantum Computing 18:53 Crypto and AI: Converging Technologies 21:08 Regulatory Clarity and Legislative Progress23:27 Looking Ahead 24:04 Q&A Session📊 Download the full State of Crypto 2025 report and explore our interactive dashboard to track the industry’s key metrics.📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources.from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @DarenMatsuoka @eddylazzarin @rhhackettEach year, the State of Crypto report analyzes the data — cutting through the noise — to track crypto’s evolution across markets, technology, policy, culture, and more. Now in its fourth edition, the 2025 State of Crypto report reveals how this once-fringe technology has hit recent all-time highs and gone mainstream — from stablecoins and tokenized assets to rapid adoption by major financial institutions.In this episode, we dig into the findings and themes from this year’s report with lead author Daren Matsuoka, a16z crypto’s head of data and fund strategy; and Eddy Lazzarin, a16z crypto’s chief technology officer. We talk about what’s changed since last year, why stablecoins are “suddenly” taking over, and how institutions — from fintechs to legacy banks — are embracing crypto technologies.We also look ahead at trends like: AI and crypto (and where the jobs are moving);why stablecoins have gone mainstreaminstitutional adoption — from Stripe and Visa to BlackRock and Robinhoodprivacy on public blockchainstokenization of real world assetsbitcoin’s resurgence and the rise of "digital gold"where developer energy is goingwhat’s really happening with memecoins, perps, and prediction marketsthe changing regulatory environment in the U.S.and what the next phase of crypto’s “adulthood” might look like — what happens next year when crypto turns 18Timestamps00:00 Introduction02:39 Overview of the 2025 State of Crypto Report05:04 The Evolution and Mainstreaming of Crypto08:27 Crypto’s Market Cycles and All-Time Highs12:08 The Price-Innovation Cycle (and Its Dislocation)15:40 Memecoins, Stablecoins, and Entrepreneurs17:25 AI and Attracting Tech Talent21:18 Crypto Adoption and User Metrics26:58 Airdrops, Farming, and Changing Metas31:24 Bitcoin’s Resurgence and Store of Value42:09 Institutional Adoption and Market Dynamics50:08 The Evolution of Stablecoins54:20 The Growing Role of Stablecoins in the Global Economy01:00:54 The Importance of Privacy in Crypto01:08:46 Tokenization of ‘Real World Assets’01:20:46 Perpetual Futures and Prediction Markets01:29:41 Outlook for the Future📊 Download the full State of Crypto 2025 report and explore our interactive dashboard to track the industry’s key metrics.📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources.from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Prediction markets are a hot topic again — even cartoon characters are talking about them (South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?We answer all these questions and more in this deep-dive featuring experts Alex Tabarrok (professor of economics at George Mason University) and Scott Kominers (a16z crypto research partner and Harvard Business School professor), in conversation with Sonal Chokshi.While we originally covered this topic during last year’s election, the discussion is more relevant than ever today, as we go into the claims people make about prediction markets — what they’re good for (and not); how they fit in with other trends like AI, futarchy, and the crisis in scientific publishing; and where blockchains and crypto come in.This is your definitive explainer on the topic.for transcript, links, and more: https://a16zcrypto.com/posts/podcast/prediction-markets-explained/ As a reminder: None of the following should be taken as business, investment, legal, or tax advice; please see a16z.com/disclosures for more important information. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @AriannaSimpson @jacqmelinekCrypto is known for its high and low market cycles: What must founders know — and what can they do — to survive the swings?In this episode, we unpack the lessons of past crypto cycles and how they shape the current wave of building — from stablecoins to AI x crypto. We also dive into the founder journey: from raising money and staying committed in 2025, to handling copycat competitors, cofounder disputes, growing too fast (or slowly), and more.You'll hear from a16z crypto General Partner Arianna Simpson, who has spent over a decade investing in crypto. She joins Jacquelyn Melinek, cofounder & CEO of Token Relations and host of the Talking Tokens podcast, where this conversation first aired, and which we’re excited to share with you here. Timestamps0:00 Introduction1:19 Arianna Simpson's Crypto Origin Story3:23 Market Cycles & Investing Priorities5:52 Interrogating the Stablecoin Trend13:25 Intersection of AI x Crypto17:49 The Role of Blockchains for Authenticity and Verification23:07 Future of AI Agents and Monetization Models27:23 Traits of Successful Crypto Founders30:05 Challenges and Changes in Fundraising33:57 Current State of the Market37:33 Advice for Founders:  • Pivoting when PMF is missing  • Raising capital after bootstrapping  • Competing with copycats  • Cofounder disputes and breakups  • Growing too fast & scaling pains47:52 Conclusion***📩 Subscribe for more from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/***As always, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

with @eddylazzarin @milesjennings @JasonYanowitzWelcome to web3 with a16z crypto. Today’s episode is on a super timely topic: How to design, govern, and grow decentralized networks in today’s changing policy landscape. It covers:Why the “foundation era” of crypto is ending — and what comes next with DUNAs and BORGsHow U.S. policy shifts are creating real rules of the roadThe difference between network tokens vs. company tokens (and why it matters for investors, builders, and other participants)When protocols should flip the fee switch and start generating revenueCommon mistakes founders make when launching tokens and structuring projectsTo unpack it all, you’ll hear from Miles Jennings, head of policy and general counsel at a16z crypto, and Eddy Lazzarin, a16z crypto’s CTO, in conversation with Jason Yanowitz, cofounder of Blockworks and host of the Empire podcast (where this conversation first aired) ... and which we’re excited to bring to you here.Timestamps0:00 Introduction3:14 Regulatory Progress and Optimism in DC9:34 The Problem with Offshore Foundations13:58 The End of the Foundation Era27:29 DUNAs and BORGs: New Legal Structures38:42 Understanding Network Tokens43:42 Network Tokens: Beyond L1 and L248:37 Company Tokens: Evolution and Challenges51:09 The Legal Landscape of Token Offerings1:04:25 Turning on the Fee Switch: When and Why1:12:47 Balancing Portfolio Needs and Regulatory Clarity1:15:36 Common Questions from Founders1:20:17 Conclusion 📩 Subscribe for more from a16z crypto: https://a16zcrypto.substack.com/subscribe/ 🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/ ***As always, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.