Naval Ravikant: The Capital Play Behind Blockchain and Cryptocurrency
In 2010, Naval Ravikant founded AngelList, an online hub where angel investors meet startups. In this discussion, held at the 2017 Goldman Sachs Private Internet Company Conference, Ravikant describes how he’s democratizing the investment process and how blockchain and cryptocurrencies in particular have helped usher in a broader group of investors.
On democratizing investments through blockchain: “Anyone can participate in a market, within reason, like a stock market or the credit markets. But they're limited by the amount of capital they have. They have ‘skin in the game.’ So blockchains allow you to bring that skin in the game-style voting, consensus and aggregation of resources into all kinds of places where markets would normally not exist. And so that's really fundamental, and it's allowing us to remake things that normally required a centralized authority in a decentralized way.”
On the future of capital formation: “More and more of capital formation’s going online, more and more of it is being distributed geographically, more and more people are getting to play. And liquidity is coming back into the equation sooner, which I think is great news for all investors.”