Join Tommy Shaughnessy as he speaks with Logan, Managing Partner of Frictionless Capital, about the high-stakes race to build a global blockchain-based financial system. Logan shares his updated thesis on why monolithic, high-throughput architectures like Solana are winning the battle for real revenue and trading dominance over modular designs.They dive deep into the "Global Exchange" vision, the physics of time-to-inclusion, and how innovations like Proprietary AMMs (PropAMMs) are redefining market making. Logan also explores the broader implications of AI, from the compounding power of Grok to the societal impact of a robot-led workforce.🎯 Key Highlights▸Analyzing the Frictionless chart showing that crypto apps on Solana are the fastest to reach $100M in revenue globally.▸ Why Logan remains bearish on the "incorrect" modular design and Layer 2 scaling solutions. ▸ How the speed of light and server location prevent current centralized exchanges from being truly global. ▸ A look at the next engineering frontier. ▸ The "crypto-native" evolution of order books that uses massive Oracle updates to eliminate stale quotes. ▸ Why Logan believes the market will split into either fully regulated exchanges or fully decentralized global engines. ▸ Why Elon Musk's Grok is positioned to be the smartest model over time. ▸ The "freaky" transition to humanoid automation and the potential for a 20-day "atom-moving" data center revolution.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Logan's Twitter: @LoganJastremski▸ Frictionless's Twitter: @FrictionlessVC🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://twitter.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Logan’s return to Miami & Fund 1 vs. Fund 2 thesis04:00 — The $100M revenue chart and acting on alpha08:00 — Why throughput alone isn't enough: execution as the North Star 11:00 — Solana’s parallel execution and the 2021 NFT "gas wars" 13:30 — Being "bearish decentralization" for its own sake 17:00 — The Global Exchange vs. New York physics limitations 22:00 — Multi-Leader design: 20ms inclusion and regional information 30:00 — Blockchains as the leading indicator for price discovery 34:00 — Rebuilding modern finance: efficient 24/7 global markets 38:30 — The hollowing out of regional, non-KYC exchanges 42:00 — Estimating the $20 trillion daily global trading market 45:00 — From AMMs to PropAMMs: the crypto-native order book 52:00 — Hyperliquid vs. Solana: product-led vs. engineering-led 59:00 — Retail order flow and the "payment for order flow" win-win 01:05:00 — Timeline for the multi-leader world (2027/2028) 01:11:00 — Returning to fundamentals: cash flows and PE ratios 01:15:30 — Bullish Grok: the vector of compute and real-world atoms 01:21:00 — Automation anxiety: Uber, gig work, and surgical robots 01:26:00 — Dystopian gambling, inflation, and the Zillow reality 01:29:00 — Financing the $30k robotDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy in San Francisco for the first podcast from the new Coliseum office. In this episode, Clay Robbins, Co-Founder of Coliseum, discusses how his team manages the world's largest online hackathons and why they chose to double down on the Solana ecosystem.They dive into the mechanics of sourcing 80,000 builders, the transition from remote to a massive in-person accelerator, and the shift from an infrastructure-focused crypto world to a new era of diverse consumer applications. From sub-3-hour marathons to "grenade" interview questions, Clay reveals what it truly takes to survive and win in the arena.🎯 Key Highlights▸The Numbers of Coliseum▸Clay shares the endurance training secrets that helped him clock a sub3-hour marathon in both Oakland and New York.▸How Coliseum distills 2,000+ global submissions down to a cohort of 10–15 elite investments.▸Why Coliseum moved from all-remote batches to a 75-desk physical hub in San Francisco.▸Why Clay believes Solana’s performance is the only viable infrastructure for the coming "application era".▸Why the Coliseum team now over-indexes on high-agency founders.▸The 15-minute "pressure test" interview used to suss out a founder’s conviction and humility.▸A new funding vehicle designed for companies launching on MetaDAO.▸A look at grand prize winners like Unruggable and Ore.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Clay's Twitter: @clayrobbins ▸ Coliseum's Twitter: ‪@Colosseum‬ 🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:    / @delphi_digital  Timestamps00:00 — Welcome to San Francisco: The first podcast from Coliseum’s new office.01:50 — Endurance Sports: Running sub-3 marathons and the Sam Lessin challenge.03:10 — What is Coliseum? Sourcing differentiation through global online hackathons.06:00 — Scaling the Funnel: Triage tools and the rote work of reviewing 2,000 projects.09:50 — The Cultural Zeitgeist: Naming hackathons like Cypherpunk and Breakout.11:30 — Why San Francisco? Overcoming the isolation of remote building.14:30 — Solana vs. L2s: Technical overhead, counterparty risk, and cultural kernels.21:00 — Emerging Themes: From DePIN and DeFi to prediction markets and stablecoins.23:40 — The Future of Payments: AI agents, X402 standards, and seamless commerce.27:30 — Venture as Art: Transitioning from idea-indexing to individual-indexing.33:30 — Partnership Dynamics: The specific roles of Matty Taylor, Nate Levine, and Clay.37:00 — Learnings from Slow Ventures: The 10x case vs. the 100x case.46:30 — 15-Minute Interviews: Why jumping straight to the "important three questions" beats small talk.51:30 — Success Stories: How Ore nearly broke Solana and landed on a high-revenue consumer model.53:30 — MetaDAO and Futarchy: Decision markets, token holder rights, and CEO accountability.59:30 — The STAMP Mechanism: A compliment to dilutive capital and the Safe.01:03:00 — The story of a 4-time hackathon participant winning the grand prize.01:06:30 — How to start building on Coliseum today.DisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he speaks with Nic Carter, partner at Castle Island Ventures, about his deep dive into the existential threat quantum computing poses to Bitcoin. After six months of intensive research and discussions with Nobel Prize-winning physicists, Nic breaks down why the "quantum threat" has moved from theoretical FUD to a material risk that the Bitcoin community is currently unprepared to face.They explore the "Q-Day" timeline, the vulnerability of Satoshi’s 2 million BTC, and the urgent need for a migration to post-quantum cryptography. Can Bitcoin’s rigid governance survive the most significant technical challenge in its history, or will sovereign nations and private firms reach the coins first?🎯 Key Highlights▸Why Nic stepped away from podcasts and TV to focus on precise technical writing.▸The 2025 Quantum Inflection: Why 2025 was a record year for quantum investment.▸The Trillion Dollar Bug Bounty: The "unsolvable" problem of Satoshi’s P2PK addresses.▸Why Bitcoin developers implemented Taproot without making it quantum-resistant.▸Defense in Depth for BTC: The technical hurdles of implementing post-quantum signature schemes and the potential for a mandatory "migration" period.▸How the U.S.–China rivalry mirrors the 1939 race for the atomic bomb.▸Applying maritime law to the potential "theft" of ancient Bitcoins by private firms like IBM or Microsoft.▸Scoring the Bitcoin core developers’ preparedness at a 1/100.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Nic Carter Twitter: @nic_carter🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:    / @delphi_digital  Timestamps00:00 — Miami loafers and Nic’s return from podcast retirement 01:50 — The 4-part series on Quantum’s risk to Bitcoin 03:00 — Why "Quantum FUD" is actually quality risk assessment 04:30 — 2025: The year the consensus among physicists shifted 07:30 — Probability of a quantum break: 70-80% by 2035 10:00 — Defining Quantum vs. Classical: Probabilistic states and entanglement 15:30 — Physical vs. Logical Qubits: The importance of fidelity thresholds 20:00 — Risk #1: The 2 million BTC sitting in Satoshi’s original wallets 24:00 — Risk #2: Address reuse and the vulnerability of Taproot 28:30 — The "Y2K" of Bitcoin: Working backward from Q-Day 34:00 — The 1/100 preparedness score for Bitcoin Core 40:00 — Geopolitical scenarios: Will the US government requisition the coins? 44:00 — The 1939 Parallel: Secret research and the race for "facile material" 48:00 — How an IBM/Microsoft "theft" would look on-chain 53:30 — Why ETH and Solana may have an easier path to upgrading 59:00 — Maritime Law: Shipwrecks, the Titanic, and "finds" in Bitcoin 01:05:00 — Final outlook: Biting the bullet vs. pleasant fantasiesDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he speaks with Mike McCormick, founder of Halcyon, about the urgent intersection of AI acceleration and safety. Mike shares his path from venture capital to launching a hybrid nonprofit–fund model focused on securing advanced AI systems. They dive into mechanistic interpretability, global competition for AGI, and what a safe superintelligence future could look like. Can we build superintelligence safely? How do we balance innovation with existential risk? And what happens to humanity when AGI arrives?

Halcyon Futures: https://halcyonfutures.org

🎯 Key Highlights

▸ Leaving VC to focus entirely on AI safety and security

▸ Why Halcyon flipped the model: nonprofit first, fund second

▸ Multi-layered “defense in depth” approach to AI biosecurity & cyber risk

▸ The acceleration vs. safety debate — finding middle ground

▸ Good Fire case: career grants into interpretability research

▸ The 2×2 dilemma — speed vs. slowdown, centralization vs. decentralization

▸ U.S.–China dynamics and fast takeoff scenarios

▸ AI underwriting: how insurance can drive safety standards

▸ Founder-market fit and mission orientation in AI startups

▸ Risk, diffusion, and the uncertain path to AGI

💡 Subscribe for more crypto & infrastructure insights! 🔔

🧠 Follow the Alpha

▸ Mike's Twitter: @MikeMcCormick_

▸ Halcyon's Twitter: @HalcyonFutures

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 — Mike’s background & pivot to AI safety

03:00 — The realization: AGI could change everything

05:00 — Why VC wasn’t enough to solve the problem

06:00 — Halcyon’s hybrid model and early mission

08:00 — AI security concerns: misuse, bio, and control

12:00 — Defense in depth: pre-training → deployment

15:00 — The creativity vs. restriction trade-off

17:30 — Pause AI vs. Build Baby Build

20:00 — Speed vs. centralization: the 2×2 framework

24:00 — Good Fire: career grants & interpretability

27:00 — Writing to neurons: alignment and insight

30:00 — How insurance markets can enforce safety

36:00 — Mission-driven founders & conviction filters

44:00 — Geopolitical race: U.S., China, and compute

50:00 — Diffusion limits, adoption, and energy costs

57:00 — Mass unemployment and meaning after AGI

01:05:00 — What “winning” AGI means for humanity

01:12:00 — Critical thinking, sycophantic AI, and engagement traps

01:20:00 — UBI, adaptation, and new work paradigms

01:30:00 — Three AGI futures: scale, shift, or stall

01:36:00 — 20% catastrophic risk & asteroid analogy

01:40:00 — Final message: talent is upstream of everything

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast.

Join Ashwath Balakrishnan and Neel Daftary as they explore the future of DeFi infrastructure with Connor Howe, co-founder of Enso. After nine years of building in crypto, Connor has created what he calls "the shortcut to building on-chain applications" - a developer tool that abstracts away the complexity of integrating with hundreds of DeFi protocols. From powering Berachain's $3.1 billion launch to enabling developers to reduce build times from seven months to just days, Enso is positioning itself as the Unity engine for Web3.

Enso: https://www.enso.build

🎯 Key Highlights

▸ Connor's nine-year journey from writing Solidity in Mist Wallet to building crypto infrastructure

▸ How Enso powered Berachain's $3.1 billion DeFi launch behind the scenes

▸ Reducing developer build times from 7 months to 1.5 days through abstraction

▸ Why crypto needs more apps (4,800) than blockchains (1,000+) for mass adoption

▸ The "fat engine thesis" - how abstraction layers will control blockchain routing

▸ Enso's upcoming network model: action providers, grafters, and validators

▸ The "Enso Drop" - accessing 370+ potential airdrops through network participation

▸ Security through simulation: 4ms response times vs industry standard 2.6 seconds

▸ Chain abstraction vs. application abstraction: the real path to user adoption

▸ Why product beats paper in crypto's current critical juncture

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Connor's Twitter: @connor_enso

▸ Enso's Twitter: @EnsoBuild

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 — Intro: Connor Howe, Enso co-founder

01:15 — Nine years building in crypto: from Bitcoin to Ethereum

03:00 — Early DeFi development challenges and the birth of Enso

05:00 — Chain abstraction vs. application abstraction philosophy

08:30 — Serving 8% of Web3's developer mindshare (2,250+ developers)

11:00 — Berachain's $3.1B launch: Enso's behind-the-scenes role

13:15 — AI agents, automation, and new use cases emerging

15:00 — Reducing build times: from 7 months to 1.5 days case study

17:30 — Security through simulation: 4ms response times

21:30 — Why we need products people actually want to use

23:15 — New developer onboarding trends and product directions

26:30 — The Enso Network: action providers, grafters, validators

30:00 — Self-service protocol integration and scalability

33:00 — Enso vs. Yearn comparison and strategy differences

35:15 — Network economics and fee distribution mechanisms

39:00 — Upcoming TGE and token utility design

41:00 — The "Enso Drop": accessing 370+ protocol airdrops

42:00 — Developer relations strategy: YouTube, universities, incubators

45:15 — Keeping developers away from crypto Twitter for innovation

47:15 — Fat protocols vs. fat apps: the abstraction layer thesis

51:30 — "Product beats paper" - crypto's critical juncture

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Alex Golding as he sits down with Austin Federa, Co-founder of DoubleZero, to explore how they're building permissionless high-performance fiber infrastructure that could revolutionize blockchain performance. Austin shares the technical vision behind creating a parallel internet for distributed systems, starting with Solana validators as their initial market.

DoubleZero: https://doublezero.xyz

🎯 Key Highlights

▸ The internet bottleneck: why high-performance blockchains are hitting infrastructure limits

▸ Building a parallel internet with dedicated fiber, FPGAs, and multicast technology

▸ Proof of utility: weaponizing greed and capitalism for positive-sum network outcomes

▸ 16% of Solana network already running on testnet despite limited infrastructure

▸ Technical deep-dive: signature verification, packet deduplication, and jitter reduction

▸ Token economics and bandwidth contribution models vs traditional staking

▸ Long-term vision: replacing IP addresses with public-private key routing

💡 Subscribe for more crypto & infrastructure insights! 🔔

🧠 Follow the Alpha

▸ Austin's Twitter: @Austin_Federa

▸ DoubleZero's Twitter: @doublezero

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 — Intro: Austin Federa and the internet bottleneck problem

02:00 — Building a parallel internet for distributed systems

06:00 — The Firedancer project and million TPS potential

09:15 — Technical architecture: fiber, FPGAs, and multicast technology

13:30 — Signature verification and packet deduplication explained

17:15 — Proof of utility: Shapley values and economic incentives

23:45 — Validator onboarding and network connection process

29:30 — Testnet success: 16% of Solana network adoption

33:15 — Latency, jitter, and bandwidth improvements explained

39:00 — Token economics: 2Z token and payment models

44:45 — Access models vs staking requirements for enterprises

51:30 — Validators.app badges and network transparency

59:15 — Governance roadmap: from mainnet beta to full decentralization

01:05:45 — Long-term vision: replacing IP addresses and DNS

01:09:15 — Lightning round: most misunderstood aspects

01:12:30 — Five-year vision: parallel internet for high performance systems

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast.

Join José Maria Macedo as he co-hosts with Matt O'Connor from Legion and Filip Wielanier from Cookie3 to explore "Attention Capital Markets" - revolutionizing token distribution by linking social influence with capital commitment. Fresh off Legion's funding from VanEck and Brevan Howard, discover how they're moving beyond airdrops to merit-based investing that rewards genuine community builders.

Legion: https://legion.cc

Cookie3: https://www.cookie3.com

🎯 Key Highlights

▸ Legion's funding: VanEck and Brevan Howard backing crypto innovation

▸ Attention Capital Markets: Linking mind share with financial commitment

▸ Cookie3's attribution tech: Measuring on/off-chain value creation

▸ Merit-based token distribution vs "whoever pays most"

▸ Almanac case study: 400% oversubscribed using attention metrics

▸ Retail investor access beyond accredited gatekeeping

▸ IPO/ICO convergence on-chain infrastructure

▸ Data-driven distribution with Web2 sophistication

▸ Fighting airdrop farmers with genuine supporter identification

▸ SEC progress toward disclosure-based regulation

▸ Creator monetization through tokenized influence

▸ Mobile-first social trading infrastructure

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Matt's Twitter: https://x.com/mattytokenomics

▸ Filip's Twitter: https://x.com/fwielanier

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 - Introduction and Legion funding announcement

01:15 - Matt O'Connor: TradFi to crypto token design

03:00 - Filip Wielanier: Cookie3's attribution mission

04:30 - Capital attribution in Web3 vs Web2

07:30 - Attention Capital Markets explained

09:00 - MicroStrategy analogy: Money where mouth is

11:00 - Almanac presale implementation

13:30 - Legion scoring and merit-based selection

16:00 - Current ICO problems

17:30 - Merit-based investing vision

21:00 - IPO/ICO convergence outlook

25:00 - Market effectiveness through tokenization

28:45 - Information markets and creator influence

32:30 - SEC regulatory progress

37:00 - Regulation compliance concerns

40:30 - Retail protection vs access

43:00 - Project funding selection problems

45:30 - Pseudonymous contributors vs VCs

48:00 - "Nanny state" and risk-taking

52:30 - Cookie3 roadmap

54:30 - Proof of humanity considerations

55:30 - Cooperative network ownership

58:00 - Platform locations

59:30 - Closing thoughts

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he sits down with Mike Dudas, Managing Partner at 6th Man Ventures, to discuss one of the most successful seed investments in crypto history. Mike shares the inside story of backing Pump.Fun years before it became a cultural phenomenon, generating over $800 million in fees and reaching a $5.5 billion FDV. From cold DMs to billion-dollar outcomes, this conversation explores venture capital strategy, founder evaluation, and navigating the intersection of AI and crypto investing.

6th Man Ventures: https://6thman.ventures

🎯 Key Highlights

▸ The untold story of Pump.Fun's seed round: from cold outreach to billion-dollar success

▸ Why regulatory risk-taking paid off in the Trump administration

▸ How to evaluate crypto founders differently than traditional startups

▸ The creator economy revolution: streaming meets tokenomics

▸ Digital Asset Trusts (DATs): the new MicroStrategy wave

▸ AI's impact on venture capital processes and decision-making

▸ Why attention spans are killing crypto Twitter's excitement

▸ From Bonk to Pump: lessons in meme coin investing

▸ Building conviction in contrarian bets during bear markets

▸ The importance of speed and decisiveness in early-stage investing

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Mike's Twitter: @mdudas

▸ 6MV's Twitter: @6thManVentures

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 — Intro: Mike Dudas, 6th Man Ventures

00:30 — The Pump.Fun origin story: cold outreach and magical moments

03:45 — Regulatory risk-taking and the Trump administration impact

06:30 — Why other VCs backed out over legal concerns

08:15 — Being hands-on with portfolio companies without being pushy

10:30 — Pump.Fun's evolution: from bonding curves to creator streaming

14:00 — The Bonk vs Pump competition and market dynamics

17:00 — How AI and AGI are changing venture capital investing

20:15 — Digital Asset Trusts: the new wave of crypto investment vehicles

26:00 — Why crypto Twitter seems less excited despite regulatory clarity

32:15 — Using AI in venture processes: market research and founder support

38:45 — The most common path from DM to investment

42:00 — Founder evaluation: red flags and green flags

47:15 — When to tell portfolio companies it's time to move on

51:15 — Decision-making under pressure: the "hell yes" principle

54:00 — Staying entrepreneurial as a fund grows and succeeds

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join José Macedo and Yan Liberman as they host Michael Egorov, co-founder of Curve Finance and one of DeFi's original pioneers. Michael introduces Yield Basis — his ambitious new protocol that aims to solve one of DeFi's biggest problems: impermanent loss. Learn how this innovation could finally unlock natural, sustainable yield on Bitcoin at scale, creating the long-sought "holy grail" of yield-bearing Bitcoin without the downsides of traditional AMM strategies.

Curve Finance: www.curve.finance

Yield Basis: https://yieldbasis.com

🎯 Key Highlights

▸ Yield Basis: Eliminates impermanent loss for single-sided crypto exposure

▸ Impermanent loss problem: Why AMMs underperform buy-and-hold

▸ Michael's solution: 2x leverage counters square-root pricing

▸ Why Curve pools beat Uniswap v2

▸ Historical sims: 10-20% APR on Bitcoin

▸ Borrowing mechanism: Capital via crvUSD allocation

▸ Tokenomics: Choose real yield OR tokens

▸ Dynamic admin fees adjust with staking

▸ GTM: Target miners, funds, treasuries

▸ Multi-chain: Separate tokens vs. bridges

▸ Market size: $50-100B addressable

▸ Beyond Bitcoin: ETH and volatile assets

▸ Michael on DeFi vs. OG principles

▸ Challenge: Matching sims to reality

▸ Why this beats points and yield farming

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Michael's Twitter: @newmichwill

▸ Curve Finance Twitter: @CurveFinance

▸ Yield Basis Twitter: @yieldbasis

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 - Intro: Yield Basis and Michael Egorov

01:15 - Yield Basis: Single-sided LP without impermanent loss

02:00 - Impermanent loss with Bitcoin/USDT

07:30 - AMMs create "buy low, sell high"

09:00 - Solution: Leverage eliminates square-root pricing

13:00 - Curve beats Uniswap v2

15:30 - Historical sims: 10-20% APR

19:00 - Borrowing: Arbitrage and debt management

24:30 - Net returns after costs

25:15 - crvUSD as low-cost capital

27:15 - Separate protocol vs. Curve integration

28:00 - Tokenomics: Real yield OR tokens

32:45 - Points vs. transparent distribution

36:00 - Dynamic fees prevent zero-division

40:00 - GTM: Miners, funds, institutions

43:00 - Multi-chain: Instances vs. bridges

48:30 - BD with competing chains

50:30 - Curve vs. Yield Basis governance

52:00 - Modern vs. OG DeFi principles

55:30 - Treasury relationships vs. decentralization

56:30 - Challenge: Real-world performance

58:30 - Market: $50-100B addressable

1:02:00 - crvUSD scaling mechanics

1:06:15 - Market cap ceiling calculations

1:08:00 - Beyond Bitcoin: Gold, volatiles

1:08:45 - DeFi innovations: Pendle, Athena

1:11:30 - Hyperliquid bootstrap strategy

1:12:00 - Closing: Growth parallels

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Anil Lulla and Yan Liberman host Sapijiju, co-founder of Pump.fun. Sapijiju shares Pump.fun’s bigger vision: beyond meme coins, it’s aiming to be the most rewarding social platform, revolutionizing creator monetization, and building a $2B-backed financial ecosystem.

Pump.fun: https://pump.fun

🎯 Key Highlights

▸ Pump.fun’s vision: TikTok + Robinhood + Twitch in one

▸ Streamers earning 100–300x more than on traditional platforms

▸ 9 failed products before finding product-market fit

▸ Why most crypto firms are just riding Bitcoin

▸ New fee model: $2.4M to creators on day one

▸ Mobile-first: beating desktop crypto apps

▸ $2B balance sheet for smart capital moves

▸ 100% revenue buybacks (Hyperliquid/Binance playbook)

▸ Roadmap: stablecoin + full financial stack

▸ Young founders vs. traditional finance

▸ Why social media’s incentives are broken

▸ Targeting 16–24s ignored by incumbents

▸ Stats: 70 staff, $1.6B locked, billion+ daily volumes

▸ Aggressive M&A, Facebook-style

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Sapijiju's Twitter: @sapijiju

▸ Pump.fun Twitter: @pumpdotfun

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 – Intro & Sapijiju’s crypto journey

04:45 – 9 failed products → Pump.fun success

07:15 – Product-market fit & anti-rug mechanism

09:15 – Scaling team to 70

10:30 – Vision: social trading super-app

13:00 – $2.4M to streamers on launch day

14:15 – Why social platforms fail creators

16:45 – 300x better monetization

18:15 – DMs, streaming & mobile-first

19:30 – Competing vs. Coinbase/Binance

21:45 – User patterns: TikTok + finance

24:30 – Network effects via creator rewards

26:30 – $500k creator starter kits

28:00 – Mobile strategy for viral growth

29:15 – Zora vs. Pump.fun (content vs. coin)

31:15 – Small changes → 5x streaming growth

33:30 – Sandbox for creator freedom

35:15 – Telegram + crypto-native tools

36:30 – Democratized ICOs

38:15 – $1.6B locked, billion+ daily volumes

39:15 – Stablecoin vision

40:15 – Long-term: global takeover

42:30 – $2B balance sheet strategy

44:30 – ROI-driven capital deployment

45:15 – M&A playbook

46:15 – DAT & institutional access

47:15 – Revenue buybacks model

49:15 – VCs missing meme culture

51:15 – Story Protocol critique

53:30 – Meme coins vs. infra “scams”

54:30 – Generational wealth cycles

57:45 – Crypto as last frontier

59:15 – TradFi as modern slavery

1:01:30 – Black Mirror & moderation

1:02:30 – Mobile growth engines

1:03:30 – Scaling to $200M daily revenue

1:04:30 – Post-token comms lessons

1:05:30 – Open DMs & next episode

1:06:15 – Closing thoughts

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he hosts Pondering Durian (Lead at Delphi Intelligence) and José Macedo (Co-Founder at Delphi Labs & Founding Partner at Delphi Ventures) to introduce Delphi Intelligence — Delphi’s new open research initiative focused on artificial intelligence. Learn why Delphi is going deep into frontier models, robotics, reinforcement learning, and the intersection of crypto and AI, and how this initiative aims to uncover transformative opportunities across emerging tech.

Delphi Intelligence: https://www.delphiintelligence.io/

🎯 Key Highlights

▸ Why Delphi pivoted to AI after years in crypto research and investing.

▸ Inside Delphi Intelligence: free, high-quality research on AI, RL, robotics, and more.

▸ How the team blends deep research with deal sourcing — like early crypto days.

▸ The three phases of AI scale: pretraining, inference, and the RL renaissance.

▸ José and PD on decentralizing RL and building “The World’s RL Gym.”

▸ The case for open AI: modular design, public reasoning, and collaboration.

▸ How LLMs are learning to “think longer” — and what it means for training.

▸ Open-source vs. proprietary AI — and China’s growing lead in open models.

▸ Why José believes AGI may already be here with GPT-4o.

▸ Where early AI startups can still win — from robotics to edge hardware.

▸ Why this AI moment feels like crypto in 2017 — and why it’s still early.

▸ The team’s views on AI safety vs. acceleration, including visits to Anthropic.

▸ A geopolitical view: US vs. China in AI, talent flows, and capital differences.

▸ What the next “Mag 7” of AI could be — and why Big Tech might not lead.

▸ How Delphi plans to find early winners in AI, like they did in crypto.

💡 Subscribe for more crypto & AI insights! 🔔

🧠 Follow the Alpha

▸ Delphi Intelligence's Twitter: @delphi_intel

▸ PD's Twitter: @PonderingDurian

▸ José's Twitter: @ZeMariaMacedo

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 - Introduction to Delphi Intelligence

01:30 - Why AI Feels Like Crypto in 2017

03:30 - The AI Research Gap Delphi Aims to Fill

06:30 - Robotics Deep Dive: Humanoids vs. Specialization

10:00 - AI’s Impact on Traditional Tech Moats

14:30 - Can the Mag 7 Be Disrupted by AI Labs?

17:00 - Google, Meta, OpenAI, and the Race for Interface

21:00 - Crypto as a Hedge Against AI-Driven Inequality

24:00 - Safety vs. Acceleration: Anthropic vs. OpenAI

28:00 - China’s Open-Source AI Strategy

31:30 - Zero-to-One vs. One-to-X Innovation Models

35:00 - Open-Source Models: Strategic or Suicidal?

38:00 - Early-Stage Edge: Where Startups Can Win

42:00 - Verticalized AI Apps, Context Engineering, and GPTs

46:00 - US vs. China in Robotics: Software vs. Hardware

50:00 - The Role of Simulation, Sensors, and Real-World Feedback

53:00 - Delphi’s Dual Approach: Deep Research + Early Deal Flow

55:00 - The Vision for Delphi Intelligence 10 Years Out

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.