156 - Investing in Waves with Chris Burniske

Chris Burniske is Co-Founder of Placeholder VC, author of “Crypto-Assets,” and mentor to both David and Ryan. This is Chris’s third appearance on Bankless. He was first on three years ago for episode #20!

Investing in waves. Are we talking about surfing? Are you talking about capital deployment? The answer is Yes.

In today’s episode, Chris unpacks why he uses the term “trashy” to describe many 2022 projects (and their founders), why crypto is like surfing and how you catch a good wave, his rules for staying sober during bull and bear markets (hint: don’t fall in love with your coconuts), and finally his bull case for Solana.

TIMESTAMPS

0:00 Intro

6:46 Crypto Assets

12:43 Right 2 Years Later

16:00 Wrong 2 Years Later

19:35 What Makes a Project Trashy

22:12 Psychological Perspective

26:33 Thesis Driven

30:00 Super Cycle Narratives

37:20 Market Timing & Advice (NFA)

47:25 Bull Market Indicators

54:30 Is the Bottom In?

57:53 What Ends the Bear Market?

1:01:17 The Crypto Repeat Story

1:08:00 BTC vs. ETH vs. SOL

1:18:54 The Solana Pitch

1:29:34 How to Approach Solana

1:36:51 Predicting SOL Value Accruel

1:41:35 The Solana Opportunity

1:46:18 Is Crypto a Net Good?

1:52:22 Action Items & Disclaimers

RESOURCES

Chris Burniske

https://twitter.com/cburniske

• The Ethereum Opportunity

Electric Capital Developer Report

https://github.com/electric-capital/developer-reports/blob/master/dev_report_2022.pdf