Naval Ravikant

“Within my social circle, there is a large group of people who will take bitcoin as legal tender; like, you can go to them and settle debts in Bitcoin, and they will happily take it.”

“ICOs are obviously a new and interesting form of funding for blockchain-based protocols, but it's not clear that all of them comply with U.S. securities laws or that all of them are companies that have good native use cases for new coins.”

“Our model is very, very different to LinkedIn. We only deal with very small companies. We don't have any support for recruiters. In fact, recruiters are not supposed to be on AngelList Talent. It's a direct market where we connect CEOs and the founders and the head of products with their talent directly.”

“Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.”

“When the venture industry started, it was enough to just have money and then it was enough to sort of have this big fuzzy brand. But now startups are getting a lot smarter.”

“In an ideal world, you raise a lot of money and then there is a downturn, before you start investing so you get better deals. But it doesn't always happen that way.”

“China may censor YouTube. China may censor Twitter. They won't be able to censor Bitcoin. There's no central authority. There's no one you can go to and say, 'We're going to turn Bitcoin off.'”

“Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.”

“Figure out what you're good at and start helping other people with it; give it away. Pay it forward. Karma sort of works because people are very consistent. On a long enough timescale, you will attract what you project.”

“It's almost always possible to be honest and positive.”

“Startups are constantly raising money, sometimes before they have even hired a lawyer.”

“If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.”

“Money is a bubble that never pops. It's a consensus hallucination.”

“Unlike a normal venture fund, we never stop raising capital. We can always absorb new capital on the platform and into the next deal as long as we feel it won't distort the allocation and the pricing.”

“Cryptocurrencies are an emergent property of the Internet - almost a fifth protocol in the Internet suite. If Satoshi Nakomoto did not exist, it would still be necessary to invent them.”

“People come in. They are too gung ho. They invest too much money in things they don't know. They lose it and then they clam up and stop investing. Then they miss the actual boom. That's the nature of the market.”

“We're going to try and prove to the market that you can do a legal coin offering. If the SEC doesn't crack down, this party will be amazing - the biggest party in town for a long time. If they do crack down, a lot of people are going to feel a lot of pain.”

“Oddly enough, Bruce Lee wrote some great philosophy.”