You wanna walk us through that transition from media founder to fund manager? Like how does that happen?

Yeah, and even the one before that.

So I'd started a quote unquote, traditional tech company before that.

So I was like a Silicon Valley venture backed founder, you know, we raised 50 million plus for the company that I co founded before the block.

But I was just so passionate about crypto, this idea that, you know, I worked in FinTech, like I'd worked at Venmo and PayPal and Google Wallet.

And all those products felt like putting lipstick on a pig.

The products weren't really innovative.

And it's, I don't know, what do you think? What do you think the future of that looks like? What do you think about this watch and earn? What does it look like to you?

But I wanna, I wanna kinda get your perspective around, like, the role that Bonk, the meme coin on Solana, played for Solana back when it was launched and kinda, like, what your thoughts or, like, strategy or just overall, like, perspective was around, like, meme coins on Solana back before meme coins were really as big as the thing as they are today.

Yeah, absolutely.

So, you know, meme coins today, I think people look at them and think of them as this, like, big, you know, professional industrial complex, and to some extent, you know, that's quite true.

The...

At the same time, y-you know, the meme coins that have the most significant amount of value tend to be outliers and, and don't really fit that mold of kind of like the cynical short-term, you know, pump and, and eventually, you know, go down rapidly type thing.

So, you know, there's different types of meme coins, just like there's different types of, you know, VC-backed tokens.

But anyway, the history of meme coins is, you know, they're one of the earliest primitives in crypto and, you know, Dogecoin is, like, I believe, more than a decade old and, you know, Shiba Inu.

What would you react-- how would you react to that?

Which mechanisms do you like, or, you know, which tokens do you think have made that, um, you know, setup work?

Yeah.

So the, I think the two most important things are, uh, one, that, you know, this is the crypto and these are viewed as protocols, and so having the mechanism for value accrual be programmatic is really, really important, right? So Hyperliquid's, uh, mechanism for value accrual is, you know, 90%, 97, sorry, 97% of the fees go back into buying back the token and, uh, you know, theoretically long-term, you know, burning the tokens.

Uh, the...

So being programmatic is really important.

Uh, the second is being c- uh, consistent in communications.

Like, it's no different than, it's not only about the token mechanism, but it's about how you tell the story to the public.

And I'm wondering how this moment in time where crypto is sort of becoming real or adopted by normies, how that's changed the crypto VC game and how it's, um, changed just how you even think about investing.