Cosmo Jiang

There are so many interesting entrepreneurs that actually sit at that intersection of blockchain and AI because blockchain and AI are both just branches of math.

I studied math in college.

Plenty of my smarter colleagues went on to study math and PhD.

They all have both

Cryptography experience or blockchain experience and statistical experience or AI experience.

And so there's already this huge supply of entrepreneurs that sit at that intersection.

They're really interested to explore that.

So my background is also as a long, short equity investor for most of my career.

And so I come from a world where I care deeply about fundamental value, about revenue, about EBITDA, about cash flows.

And my whole raison d'etre for entering the digital asset space, I started to see that more and more protocols actually had those characteristics and were able to be underwritten in the same exact way that I underwrote equities.

And my goal was to bring that fundamental financial analysis rigor into the blockchain space.

When you look at blockchain protocols, these can be analyzed and should be analyzed in the same exact way that you might analyze an equity.

With any equity company, you might think about, what is their total addressable market?

What are the users?

How will they monetize their users?

And then what's the expense structure to get to your earnings power?

Similarly, with a blockchain protocol,

You know, you have this incredible ability to use on-chain data to measure a lot of those same things.

You can see how many users any given protocol has.

You can see on the blockchain its revenue getting printed second by second.