about this episode
Union Square Ventures Partner Brad Burnham shares insights on market forces, innovation impinged by dominant players & consolidating network effects, the enduring benefits of open systems, potential for distributed trust, & continued conviction for crypto to create a platform that is not evil
0:45 – Jason introduces Brad Burnham and Union Square Ventures. Brad talks about raising money as an investor in the 90s.
4:21 – Brad talks about the changes in venture capital since the late 80s and over the last 15 years.
13:22 – Brad shares thoughts on corporate VCs: misaligned incentives, creating synergies, and his experiences at AT&T Ventures.
19:24 – The importance of timing in technology and innovation, and the advantages of current dominant networks (Google, Apple, Facebook, Amazon) over newer startups.
26:39 – Monopoly in the market with Amazon’s low prices and Apple’s high prices.
29:20 – Can VCs capitalize on cryptocurrency and why is crypto good for consumers?
38:20 – ICOs: what Brad was thinking during last year’s crytpo rush, where ICOs are going, and the continuing role for VCs.
48:51 – Brad discusses getting returns from Kickstarter if they don’t go public.
55:13 – Jason and Brad discuss secondary transactions with founders.
59:37 – Discussion on how democratic platforms like crypto could disrupt transportation and other verticals by removing shareholders, letting creators and consumers of the value participate in its appreciation instead.
1:02:01 – Inefficiency in the healthcare marketplace, and navigating as an investor in the space.