Ep 21 - On Navigating Crypto Cynicism, Liquid Ventures, and DeFi’s Evolution
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Welcome to the Deco podcast, where we bring you stories from founders and investors in web 3. Before we get started, this is not a financial or legal advice. It's just a conversation about things we find interesting in web 3. Views expressed are our own personal opinions. Deco members or guests appearing on the show may have positions on assets they talk about. Alright. It took us about 20 episodes to get here, but we are finally on video and brought a guest for the occasion. Joel and I are talking to Arthur from Defiance Capital. He started investing in TradFi markets little over a decade ago
thanks for having me. It's a pleasure.
Let's start there. Right? Let's start with your background. Because when I was trying to research about you, I came across this YouTube video that was uploaded 10 years ago. And I think it was about 5 to 7 minutes video where you talk about your investing approach into equities and stuff like that. And maybe you were like, what, 19 back then? I'm not so sure. So yeah. Just walk us through your investing journey.
Yeah. So that interview was during 21 years old, and the one of the local media want to feature young investor. And since I was very actively involved in the investment club of my university, I was, yeah, participated in giving one interview as one of the younger investor out there. So I've been in starting to invest in the stock market since 19 years old, just to really get a feel of, you know, investing, finance. Been a very strong believer in financial education since I'm young, because I think that coming from a very average middle ground family, I think financial issue was constantly a so
what was the transition like? I mean, you must have started in traditional markets and then you went to crypto. Right? So and first, what got you? I mean, I get that there might be some financial issues that you wanted to overcome and that must have been the major motivator for you to get into finance. But other than that, how did it piqued your interest? And then how did you transition to crypto? I
think there was in 2017 where Ethereum really become very popular and big. And I'm fascinated by the potential of building all sorts of decentralized application on top of a blockchain, which was not possible previously. And when you look at the opportunity in crypto, it also stand out because first of all, crypto is a global market. It is not isolated to any geographical region, and that is in itself a pretty unique situation. And there's also a lot of growth and the industry was still relatively young. So it is more possible for a new entrance to make a bigger impact. When you look at the ot
So one question related to TradFi before we get into crypto. Right? So, like, I have studied some finance during MBA times and you've read, like, a bunch of books on finance from Bankram to probably Ashwadna for the rest of the world. And we talk about all these models like DCF, etcetera, etcetera, where key component is the discount rate. And, like, how do you reconcile that with what's happening in the real world? Like, the rates are probably 0. They were 0 some time ago, but now they aren't. But it is likely that they head towards 0 or even negative for some. So how do you just reconcile th
I think this is something actually all investor kind of learning for the first time. Right? Because before the financial crisis during 2,008, like, the zero interest rate phenomenon wasn't something people think that will last for a long time for a sustained period. And the thing is we have kind of a long period of that whole financial crisis,
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