Panic with Friends - Howard Lindzon
Description
I’m excited to finally have my friend Joe McCann on the show. He’s the founder of Asymmetric, a modern-day crypto fund. Joe’s probably one of the smartest people I follow on Twitter and I usually get caught up reading his monthly letters. I wanted to have Joe on the show and get his thoughts on navigating the crypto space. Nowadays most people have disdain for crypto, but the data will not go away. There’s still a lot of people with significant digital assets, including myself. And at Social Leverage, we’ve invested in Lumida (Fund IV) – a digital asset first wealth manager. Remember, none of our conversation is investing advice, but crypto is a space you shouldn’t ignore while the hype is centered on generative AI.
Guest - Joe McCann, Founder, CEO, CIO at Asymmetric
howardlindzon.com, asymmetric.financial
Stocktwits: @joemccann
Twitter: @howardlindzon, @joemccann, @goasymmetric, @PanicwFriends, @knutjensen
linkedin.com/in/amazing-opportunity
#fintech #invest #investment #venturecapital #stockmarket #finance
Show Notes:
Introduction. (00:36)
Welcome Joe (06:11)
Moving to Portland (06:29)
Diving into Asymmetric (10:20)
Credit Risk reminiscent of GFC (11:25)
Bullish longer term (13:48)
Getting in to the crypto space (13:59)
Digitization of money (15:30)
Open source finance (19:15)
Meaningful disruption in finance (19:45)
Finances’ ‘Napster’ moment (22:22)
Crypto’s Market Cap (24:17)
Basic case for Bitcoin (28:18)
Behavioral Finance side of crypto (31:38)
Panic on real rates (33:12)
Are Bank Reserves strong? (34:51)
Regional Bank stress (35:15)
Costs of borrowing (38:23)
Addressing counterparty risk (41:38)
When will the Fed ease? (44:43)
Two things Joe’s excited about (47:26)
Wallet wars (49:05)
Incorporating ChatGPT trading (50:55)
Stablecoins (54:08)
Wrapping up (57:27)
Closing thoughts. (57:58)