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Connor and Sal are joined by guests Jack Platts and Mehdi Farooq to explore the evolving landscape of crypto investment, venture capital, and deep tech. They discuss strategies for unlocking value in crypto assets, the critical role of NAV in investment decisions, and the rise of micro strategies in deal-making. The conversation also covers the resurgence of ICOs, the importance of disciplined evaluation of investment vehicles, and the global perspectives shaping today’s crypto markets. Jack and Mehdi share insights on how podcasting drives research and networking, while emphasizing the transformative impact of deep tech on robotics and AI. The episode wraps with a look at why community building remains essential for startup success in decentralized ecosystems.

Timestamps:

00:00 - Introduction

01:47 - The Value of Podcasting

03:12 - Podcasting as a Platform for Founders

04:11 - Jack's Perspective on Podcasting

05:47 - Micro Strategy and Investment Trends

06:18 - Understanding Capital Markets

07:56 - Evaluating Investment Vehicles

11:07 - Natural Buyers for Investment Vehicles

16:00 - Long-term NAV Multiples

20:50 - 21 Capital Investment Insights

24:02 - Expanding Beyond Bitcoin

30:53 - Global Investment Perspectives

34:09 - Lessons from Polkadot

40:06 - The ICO Meta and Community Building

46:04 - DePIN Investments and Future Outlook

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor, Mahesh, Santi, and Jason are joined by Amir Haleem of Helium to explore the evolving landscape of decentralized networks. They dive into Helium’s impressive revenue growth - from $400K to $2.7M per month - driven by its mobile subscriber base, and discuss the complexities of blending off-chain and on-chain revenue. The conversation covers tokenized equity, sustainable business models beyond token sales, and the convergence of crypto with traditional finance. Amir shares how Helium has shifted from a crypto-first approach to prioritizing service delivery and user satisfaction, offering key lessons in product distribution, user retention, and innovative tokenomics.

Timestamps:

00:00 - Introduction

02:25 - Microstrategy and Digital Asset Accumulation

03:42 - Market Trends: Crypto and Wall Street

05:03 - Santi's Perspective on Market Efficiency

06:19 - DePIN Projects and Public Market Strategies

06:41 - Helium's Potential for Going Public

08:50 - Cash Flow and Tokenomics in DePIN

12:07 - Helium's Recent Revenue Growth

12:55 - PMF for DePIN Networks

18:03 - User Engagement and Helium's Growth

19:05 - Helium's Revenue Sources Explained

21:06 - Convergence of Off-Chain and On-Chain Revenue

24:12 - Learning from Helium's Evolution

25:03 - Focus on Distribution Over Product

27:27 - Daily Active Users and Their Interaction

31:26 - Valuable Users and Helium's Ecosystem

33:45 - Cloud Points and User Experience

36:44 - Retention Curves: Crypto vs. Traditional Users

39:59 - Aligning Token and Equity Interests

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor speaks with Tom Trowbridge, co-founder of Fluence Labs and host of the DePIN Day & DePINEd Podcast about the evolving world of decentralized compute platforms and the broader DePIN ecosystem. Tom explains how Fluence operates as a “cloudless” service—open, resilient, and more cost-effective than traditional cloud providers—and outlines its innovative tokenomics, including fixed-dollar payments to contributors and a capped token supply to build investor trust. The discussion explores how DePINs offer unique advantages over centralized models like Uber and Airbnb, particularly the ability for early participants to benefit from token appreciation. Tom also touches on governance, buy-and-burn mechanisms, and how the convergence of hardware, open-source technology, and crypto economics is driving the future of decentralized infrastructure.

Timestamps:

00:00 - Introduction

02:54 - The Benefits of Podcasting

05:10 - Overview of Fluence and Its Mission

07:54 - Tokenomics Insights and Security Considerations

10:01 - DePIN as Sharing Economy 2.0

12:32 - Marketing Dynamics in DePIN vs. Traditional Models

14:10 - Payment Structures: Stablecoins vs. Native Tokens

16:55 - Staking Rewards and Their Implications

18:18 - Token Supply: Capped vs. Uncapped

20:49 - Token Value Accrual Methods

25:09 - Best Practices in Revenue Generation and Tokenomics

29:29 - Future Opportunities in the DePIN Sector

31:00 - Conclusion and Final Thoughts

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor speaks with Yumin, founder of Galxe, a crypto project focused on onboarding users through learning and earning rather than purchasing. They explore Yumin’s early experiences with technology in 2000s China, the evolving landscape for elite students, and the growing emphasis on innovation and entrepreneurship. Yumin shares Galxe’s mission to make crypto more accessible through on-chain quests powered by zero-knowledge proofs, enhancing privacy and transparency. He also introduces Gravity Chain, Galxe’s high-performance blockchain designed to improve the multi-chain user experience, and discusses the Galxe Identity Protocol and Passport, which enable users to manage digital identities with privacy and control.

Timestamps:

00:00 - Introduction

01:09 - Yumin's Background in China's Tech Scene

03:57 - Opportunities for Elite Students in Tech

06:16 - Onboarding Users through Earning Crypto

07:15 - Evolution of Quests: From Off-Chain to On-Chain

09:24 - Implementing On-Chain Quests with zk Proofs

12:36 - Introduction of Gravity Chain

16:45 - Building a High-Performance Blockchain

20:14 - Digital Identity in the Blockchain Space

27:57 - Galxe's Revenue Model and Future Plans

29:40 - Conclusion and Where to Find Galxe

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor and Sal spoke with Mateusz Poreda and Niko Cunningham, co-founders of Rumi, a company reimagining media consumption through contextually aware AI agents that enhance viewer engagement. Niko shared how his upbringing in Detroit sparked his passion for technology, while Mateusz discussed how his background in consulting and tech helps navigate Rumi’s complex challenges. They announced Rumi’s $5 million pre-seed round, co-led by EV3 and A16Z CSX, and outlined their vision to turn passive media into interactive experiences. The conversation touched on Rumi’s contributor rewards model, potential for creators and advertisers, and concluded with advice for aspiring founders, encouraging listeners to explore Rumi and join the growing community.

Timestamps:

00:00 - Introduction

01:56 - What is Rumi?

03:50 - Niko's Journey and Early Influences

08:33 - Mateusz's Background and Career Path

10:20 - The Importance of Diverse Experiences

13:16 - Rumi's Supply Side and Community Contribution

14:04 - Transforming Media Consumption

18:01 - Privacy and Data Handling

20:05 - Maximizing Points and Engagement

22:04 - Exploring Demand for Rumi

27:08 - Unlocking New User Experiences

29:07 - Nielsen vs. Rumi: A New Era of Analytics

34:39 - Advice for Founders on Fundraising

38:26 - How to Get Involved with Rumi

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor speaks with Chris McCabe and Kee Jefferys, co-founders of Session, a decentralized messaging platform that prioritizes user privacy and security. They discuss how Session enables communication without requiring phone numbers, stores no user data, and uses client-side key generation along with onion routing to ensure anonymity. Built on a decentralized network and powered by blockchain technology, Session fosters a self-sovereign communication experience where users don’t have to trust the platform. The conversation explores Session’s organic user acquisition strategies, the role of the Session token in its ecosystem, and how the platform balances privacy with usability, highlighting its commitment to a secure, surveillance-free future for messaging.

Timestamps:

00:00 - Introduction

01:10 - Legion Sale Update

02:50 - Competing in a Centralized Market

03:34 - Inspiration Behind Session's Innovation

05:15 - Endorsements and Use Cases for Privacy

06:48 - Recent News and Messaging Security

09:06 - User Growth During Global Conflicts

10:40 - Key Generation and Account Creation

12:24 - Public-Private Key Pair and Blockchain

14:49 - User Acquisition Strategies

18:00 - Focus on Organic Growth

22:36 - Localized Market Focus

24:50 - Privacy-First Approach to User Analytics

27:06 - Onion Routing Explained

30:01 - DePIN Network and Its Functionality

34:35 - Session Token and Ecosystem Plans

39:46 - Conclusion and Call to Action

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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In the inaugural episode of the DePIN Roundtable, Connor Lovely is joined by Santiago R Santos, Mahesh Ramakrishnan, and Jason Badeaux to explore the evolving world of decentralized physical infrastructure networks. They reflect on Bitcoin’s foundational role, early model flaws, and growing interest from non-crypto sectors, highlighted by Santiago’s insights from a Dubai conference. Mahesh discusses the collegial shift among fund managers, fundraising challenges, and the upcoming DePIN Summit in Africa. Jason shares updates on Daylight’s energy subscription model and lessons in team building. The group debates token models, product-market fit, and the experiences of projects like Helium, emphasizing the need for better alignment between user needs and tokenomics. The episode closes with an optimistic outlook on DePIN’s potential to transform infrastructure as SaaS did for software.

Timestamps:

00:00 - Introduction

01:11 - Welcome to the DePIN Roundtable

02:09 - Insights from the Dubai Conference

05:24 - Fundraising Challenges in Crypto

08:53 - Santi's Fundraising Success

12:04 - Building a Strong Team

15:55 - Daylight's Revenue Generation

20:30 - Daylight's Growth and Hiring

21:09 - Energy Subscription Model

25:11 - Token Launch Considerations

30:00 - Learning from Helium's Journey

35:09 - Supply Sinks in DePIN Networks

41:11 - Innovative Token Use Cases

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.

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Connor welcomes back Alireza Ghods, co-founder of Natix, to discuss a major milestone for the company. Alireza announces a game-changing partnership with Grab, Southeast Asia’s leading super app—a strategic alliance that positions Grab as a key data customer for Natix’s VX360 product while granting Natix access to Grab’s advanced mapping technology. This marks a significant leap forward in Natix’s mission to build the world’s largest camera infrastructure without owning any cameras. Since December 2024, the company has grown rapidly, with nearly 250,000 registered drivers and over 170 million kilometers mapped across 171 countries. With VX360—an innovative 360-degree video plugin for Tesla vehicles—now shipping ahead of schedule, Alireza offers an inside look at how this partnership will unlock new revenue streams, accelerate autonomous mapmaking, and reshape the future of mobility.

Timestamps:

00:00 - Introduction

01:25 - Introduction to Natix and VX360

01:35 - State of the Network: Growth and Updates

02:12 - Shipping and User Experience of VX360

03:41 - Announcement of Partnership with Grab

04:58 - Details of the Partnership and Its Benefits

08:04 - Economic Aspects of the Partnership

10:22 - Focus on Data Collection and Monetization Strategy

13:35 - Future Plans and Excitement for Autonomous Driving

14:39 - Closing Remarks and Call to Action for Tesla Drivers

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.