Everyone is an Investor
Crypto may turn everyone into an investor, just like the internet turned everyone into publishers.
All this capital comes off the sidelines and flows like water. With the right pitch, an entrepreneur could raise a round in real time. Entrepreneurs would be like influencers, their investors supporting like followers.
Existing proof points towards this future: AngelList Syndicates, ICOs, Equity crowdfunding, and Influencer monetization. Capitalist networks like what I’m envisioning would be to the current state of online crowdfunding what Twitter was to Blogger: Faster, easier, slicker.
We would have a billion VCs by 2040. Technologically, you could build a Coinbase/Twitter mashup today, in which every user does casual pseudonymous microinvesting and tracks their progress on a public leaderboard. It may take a generation for crypto people to come into the relevant regulatory and policy roles, though.
The internet turned everyone into publishers, and crypto will turn everyone into investors. The intermediate step is hundreds of small angel funds run by individuals. We are in the “Blogger” era of investing, and the “Twitter” era is coming.
You’re also actually much less critical of products because you have some empathy for the person on their side. You think “maybe this product sucks, but I’m sure they’ve worked hard on it,” and you react with “Hey, do better next time” or “this is what I wanted to see.” You’re just more constructive in your criticism.
*Note: This is a bonus section from The Anthology of Balaji, which was edited out of the final published version. Enjoy this section and join the email list for updates, new material, and upcoming products.
