Jason Calacanis

indigestion period, I would say.

And some people, I think Instacart wound up going from $30 billion down to $10 billion when they went public.

And some people, I think Instacart wound up going from $30 billion down to $10 billion when they went public.

And it was like, OK, we've got to dig out of a hole, the last series of investors.

And it was like, OK, we've got to dig out of a hole, the last series of investors.

And that is the unintended consequence of this, because you don't have anybody setting a proper valuation for the company in some reasonable way.

And that is the unintended consequence of this, because you don't have anybody setting a proper valuation for the company in some reasonable way.

What about funds?

What about funds?

I get approached by a lot of people, offshore, et cetera, hey, take your next seed fund.

I get approached by a lot of people, offshore, et cetera, hey, take your next seed fund.

You're going to do a $50 million fund.

You're going to do a $50 million fund.

Let's put it on the chain.

Let's put it on the chain.

And then, hey, if you were one of my LPs and you were like, oh, I need liquidity, I could just sell it to somebody else.

And then, hey, if you were one of my LPs and you were like, oh, I need liquidity, I could just sell it to somebody else.

Or if I was an LP in a Sequoia fund and I wanted to sell you the interest, you could buy it for me.

Or if I was an LP in a Sequoia fund and I wanted to sell you the interest, you could buy it for me.

And we could just take our wallets out and zip zip.