WEBVTT NOTE Open Interest — charles-lin-monad-foundation. Draft: text from the editor-approved caption file (S20 approved-corrections.srt, 22 Oct) re-timed to the released edit by a constant −10.11 s head trim (verified against word-level ASR of the edit, 93% word match); speaker labels automatic (resemblyzer, 2 speakers) with four manual fixes. Not yet reviewed line by line. 1 00:00:00.473 --> 00:00:01.556 Welcome to Panoramic 2 00:00:01.556 --> 00:00:03.431 Content Suite Singapore Edition. 3 00:00:04.306 --> 00:00:05.390 We have backdrop here of 4 00:00:05.390 --> 00:00:07.348 MBS alongside Token2049. 5 00:00:07.890 --> 00:00:08.848 Super excited to be here. 6 00:00:09.515 --> 00:00:10.265 And you have exciting 7 00:00:10.265 --> 00:00:11.681 guests today here with us, 8 00:00:12.140 --> 00:00:13.931 Charles from Monad Foundation, 9 00:00:14.640 --> 00:00:16.015 working on the ecosystem team. 10 00:00:17.223 --> 00:00:17.973 Yeah, thank you for taking 11 00:00:17.973 --> 00:00:19.265 time out of your busy day 12 00:00:19.681 --> 00:00:20.806 to be here with us. 13 00:00:20.806 --> 00:00:21.598 Yeah, thank you for having me. 14 00:00:21.890 --> 00:00:23.181 And to kick things off, you know, 15 00:00:23.181 --> 00:00:24.056 let's start with an intro. 16 00:00:24.306 --> 00:00:25.098 I would love to hear about 17 00:00:25.098 --> 00:00:26.640 yourself, your background, 18 00:00:26.640 --> 00:00:28.056 how you ended up at Monad today. 19 00:00:29.015 --> 00:00:30.515 Yeah, so I work at Monad 20 00:00:30.515 --> 00:00:32.806 Foundation on the ecosystem team, 21 00:00:32.806 --> 00:00:34.473 mostly cover consumer and 22 00:00:34.473 --> 00:00:35.390 a bit of trading as well. 23 00:00:36.098 --> 00:00:37.515 So before this, got into 24 00:00:37.515 --> 00:00:39.056 crypto initially in 2020, 25 00:00:39.723 --> 00:00:40.556 during that cycle. 26 00:00:42.056 --> 00:00:42.765 Initially got into it, 27 00:00:42.765 --> 00:00:43.556 like I went to Berkeley, 28 00:00:43.556 --> 00:00:44.890 so I knew a lot of the founders there 29 00:00:45.515 --> 00:00:47.473 and worked with them on some projects, 30 00:00:47.765 --> 00:00:48.515 did some trading myself. 31 00:00:49.390 --> 00:00:51.890 And then joined, ended up 32 00:00:51.890 --> 00:00:52.890 doing investment banking 33 00:00:53.181 --> 00:00:54.598 for two years, focused 34 00:00:54.598 --> 00:00:55.931 on consumer internet, 35 00:00:55.931 --> 00:00:56.890 software and semis. 36 00:00:57.973 --> 00:00:58.973 Subsequently joined an AI 37 00:00:58.973 --> 00:01:00.431 startup in San Francisco. 38 00:01:01.306 --> 00:01:02.890 And then we sold that to Salesforce. 39 00:01:04.473 --> 00:01:05.556 And then, yeah, got a call 40 00:01:05.556 --> 00:01:06.890 from Monad Foundation saying, 41 00:01:06.890 --> 00:01:07.515 hey, you know, they've 42 00:01:07.515 --> 00:01:08.473 got an opportunity here. 43 00:01:09.098 --> 00:01:10.973 And so decided to join full time. 44 00:01:11.973 --> 00:01:13.056 Amazing, impressive pedigree. 45 00:01:13.848 --> 00:01:15.723 So leveraging, you know, your experience, 46 00:01:16.181 --> 00:01:17.223 the network you built, 47 00:01:17.556 --> 00:01:18.265 how are you converting 48 00:01:18.265 --> 00:01:20.348 that into your current work 49 00:01:20.431 --> 00:01:21.265 at Monad Foundation? 50 00:01:22.390 --> 00:01:24.348 Yeah, I think a lot of the 51 00:01:24.348 --> 00:01:26.140 translation that comes over is, 52 00:01:26.390 --> 00:01:27.640 I think an ecosystem role is 53 00:01:27.640 --> 00:01:29.890 very diverse in the sense that 54 00:01:30.015 --> 00:01:30.890 you talk to a lot of 55 00:01:30.890 --> 00:01:32.223 founders, you talk to investors, 56 00:01:32.973 --> 00:01:34.223 and you also have to have a framework 57 00:01:34.223 --> 00:01:35.473 for evaluating different teams. 58 00:01:35.723 --> 00:01:36.431 Since, you know, we have a 59 00:01:36.431 --> 00:01:38.681 lot of resources and time 60 00:01:38.681 --> 00:01:39.806 that we have at the foundation. 61 00:01:39.806 --> 00:01:40.515 And the question is, 62 00:01:40.515 --> 00:01:41.390 how do we dedicate that 63 00:01:41.390 --> 00:01:42.890 to the best teams, right? 64 00:01:43.515 --> 00:01:46.140 So, yeah, I mean, coming from a sort of 65 00:01:46.348 --> 00:01:47.390 investment banking background, 66 00:01:47.431 --> 00:01:48.265 you have a sense of how to 67 00:01:48.265 --> 00:01:49.681 evaluate startups and teams. 68 00:01:50.431 --> 00:01:51.640 And then at an AI startup, 69 00:01:51.640 --> 00:01:54.306 you get a sense of what an operational, 70 00:01:55.056 --> 00:01:56.681 excellent team looks like. 71 00:01:57.181 --> 00:01:57.931 And so combining these 72 00:01:57.931 --> 00:02:00.181 two allows you to, you know, 73 00:02:00.181 --> 00:02:01.556 sort of evaluate what 74 00:02:01.556 --> 00:02:02.973 teams might, you know, 75 00:02:02.973 --> 00:02:03.598 potentially do better 76 00:02:03.598 --> 00:02:04.890 than others in this market. 77 00:02:05.390 --> 00:02:07.348 Yeah, Monad essentially is an 78 00:02:07.348 --> 00:02:08.390 infrastructure project, 79 00:02:08.390 --> 00:02:09.140 and you guys want 80 00:02:09.140 --> 00:02:10.640 people to build on top of it 81 00:02:10.640 --> 00:02:11.640 using your tech stack. 82 00:02:12.390 --> 00:02:13.848 And kind of your 83 00:02:13.848 --> 00:02:15.223 background is perfectly aligned 84 00:02:16.015 --> 00:02:16.890 with this in a way where 85 00:02:16.890 --> 00:02:18.098 you're picking out best teams 86 00:02:18.640 --> 00:02:19.640 or teams that would have 87 00:02:19.640 --> 00:02:21.890 the most promise or success 88 00:02:22.681 --> 00:02:24.140 leading into a successful 89 00:02:24.140 --> 00:02:25.473 product on top of Monad. 90 00:02:25.890 --> 00:02:26.723 Yeah, I mean, we're an L1, 91 00:02:26.723 --> 00:02:28.431 so we definitely look for 92 00:02:28.431 --> 00:02:29.890 a lot of quality projects, 93 00:02:30.140 --> 00:02:31.181 you know, strong founders to come 94 00:02:31.223 --> 00:02:33.015 and build exciting things. 95 00:02:33.015 --> 00:02:35.098 And I think, you know, our team is very 96 00:02:35.098 --> 00:02:36.015 technically excellent. 97 00:02:36.306 --> 00:02:38.015 So, Category Labs has been innovating. 98 00:02:38.598 --> 00:02:39.848 We had Open, which is a 99 00:02:39.848 --> 00:02:40.723 reflection of conference, 100 00:02:41.473 --> 00:02:42.931 and we just announced privacy 101 00:02:43.223 --> 00:02:44.598 that's gonna come quite soon. 102 00:02:45.223 --> 00:02:46.598 And then we have Cadence, 103 00:02:46.598 --> 00:02:47.515 which will allow block 104 00:02:47.515 --> 00:02:48.640 times to go even lower. 105 00:02:49.431 --> 00:02:50.056 So yeah, we're always 106 00:02:50.056 --> 00:02:51.223 innovating on the tech stack. 107 00:02:51.223 --> 00:02:52.015 And I think on the other 108 00:02:52.015 --> 00:02:53.265 end is how do we compliment 109 00:02:53.598 --> 00:02:54.515 good founders with a 110 00:02:54.515 --> 00:02:55.348 really good tech stack? 111 00:02:55.806 --> 00:02:56.265 Right, right. 112 00:02:56.390 --> 00:02:57.515 Yeah, happy to dive into 113 00:02:57.515 --> 00:02:58.890 the details of the tech stack, 114 00:02:58.890 --> 00:03:00.056 how Monad, you know, 115 00:03:00.431 --> 00:03:02.931 stands ahead of other blockchain L1s. 116 00:03:02.973 --> 00:03:04.015 But before that, kind of 117 00:03:04.015 --> 00:03:05.181 wanted to do some little bit 118 00:03:05.181 --> 00:03:05.890 of fun chatting around 119 00:03:05.890 --> 00:03:06.848 what you're covering, 120 00:03:06.848 --> 00:03:08.931 which is consumer apps and 121 00:03:08.931 --> 00:03:10.765 maybe some AI and others. 122 00:03:11.265 --> 00:03:13.473 But, you know, collectibles is the talk 123 00:03:13.473 --> 00:03:14.306 of the town right now. 124 00:03:15.890 --> 00:03:16.931 Yeah, curious to just pick 125 00:03:16.931 --> 00:03:18.515 your brain on what you're seeing, 126 00:03:18.515 --> 00:03:19.640 what you're most excited about. 127 00:03:19.890 --> 00:03:20.973 Are there anything you can share 128 00:03:20.973 --> 00:03:22.431 in terms of what's coming up next 129 00:03:22.556 --> 00:03:23.806 on on top of Monad? 130 00:03:24.306 --> 00:03:25.765 Yeah, so collectibles is a very, 131 00:03:25.973 --> 00:03:26.931 it's a big area with 132 00:03:26.931 --> 00:03:28.056 good product market fit. 133 00:03:28.806 --> 00:03:29.556 If you look at the 134 00:03:29.556 --> 00:03:31.181 general landscape of the market, 135 00:03:31.598 --> 00:03:32.431 you obviously see a 136 00:03:32.431 --> 00:03:33.640 Collector Crypt, right? 137 00:03:33.640 --> 00:03:34.640 Courtyard doing very well. 138 00:03:35.181 --> 00:03:36.806 They're probably doing about $150 million 139 00:03:37.515 --> 00:03:38.723 each in volume a month. 140 00:03:39.306 --> 00:03:40.348 And usually the RTP is 141 00:03:40.348 --> 00:03:41.431 around like 85 to 90%. 142 00:03:41.765 --> 00:03:42.598 So they're doing good 143 00:03:42.598 --> 00:03:43.431 revenue off of that. 144 00:03:44.223 --> 00:03:45.890 It's a big area with product market fit. 145 00:03:46.556 --> 00:03:48.806 I think you see a ton of companies 146 00:03:49.265 --> 00:03:50.515 are now heading into this space, right? 147 00:03:50.515 --> 00:03:51.390 Coinbase recently 148 00:03:51.390 --> 00:03:54.098 launched the collectibles, 149 00:03:54.098 --> 00:03:55.473 right, Pokemon cards, and every company 150 00:03:55.473 --> 00:03:56.806 is trying to get like a 151 00:03:56.806 --> 00:03:58.056 sort of piece of the pie. 152 00:03:59.181 --> 00:04:00.681 I think, so that's the 153 00:04:00.681 --> 00:04:02.056 general market landscape. 154 00:04:02.723 --> 00:04:03.306 What I'm more interested 155 00:04:03.306 --> 00:04:05.015 in is the verticalization 156 00:04:05.265 --> 00:04:06.015 of this landscape, 157 00:04:06.015 --> 00:04:07.515 because it's not just about 158 00:04:07.515 --> 00:04:08.556 pulling Pokemon cards, 159 00:04:08.556 --> 00:04:10.390 it's about this idea of like 160 00:04:10.765 --> 00:04:11.723 entertainment commerce, 161 00:04:11.723 --> 00:04:13.265 which is you're essentially 162 00:04:13.681 --> 00:04:16.015 effectively opening a pack that could be, 163 00:04:16.015 --> 00:04:19.390 or a pack, a box that allows you to have 164 00:04:19.390 --> 00:04:20.681 an element of surprise of 165 00:04:20.681 --> 00:04:22.265 something that's like value. 166 00:04:22.973 --> 00:04:23.515 And I think that 167 00:04:23.515 --> 00:04:25.015 combination of the chance 168 00:04:25.015 --> 00:04:26.348 of getting something of a high value 169 00:04:26.348 --> 00:04:27.306 is something that's very interesting 170 00:04:27.473 --> 00:04:29.556 for the next generation of users. 171 00:04:30.390 --> 00:04:31.556 And so I think that's 172 00:04:31.556 --> 00:04:32.515 what I'm interested in. 173 00:04:32.515 --> 00:04:33.181 So not just Pokemon 174 00:04:33.181 --> 00:04:34.723 cards, but you see people 175 00:04:34.723 --> 00:04:36.140 now doing like sports cards. 176 00:04:37.140 --> 00:04:38.848 There's founders doing jewelry. 177 00:04:39.556 --> 00:04:40.181 I think there's a lot 178 00:04:40.181 --> 00:04:41.056 of different sectors. 179 00:04:41.598 --> 00:04:44.098 Sort of like you think about Craigslist 180 00:04:44.348 --> 00:04:44.931 and how that spawned 181 00:04:44.931 --> 00:04:46.390 Airbnb, how that spawned Uber, 182 00:04:46.390 --> 00:04:46.765 all these different 183 00:04:46.765 --> 00:04:48.765 companies, I think a similar moment 184 00:04:48.765 --> 00:04:51.473 will happen for collectibles. 185 00:04:52.140 --> 00:04:54.681 And for Monad, I think there's obviously, 186 00:04:54.681 --> 00:04:55.973 we're a very consumer-focused chain. 187 00:04:56.681 --> 00:05:00.640 We have Arepa, which is a TCG company, 188 00:05:01.265 --> 00:05:01.723 and then we have a 189 00:05:01.723 --> 00:05:02.515 couple others on the pipeline 190 00:05:02.515 --> 00:05:04.181 that are gonna launch quite soon. 191 00:05:04.723 --> 00:05:06.306 So definitely keep posted for that. 192 00:05:06.598 --> 00:05:08.765 Nice, nice, yeah, we've actually hosted, 193 00:05:08.765 --> 00:05:09.598 speaking of Tance, a 194 00:05:09.598 --> 00:05:10.723 company called Tance yesterday, 195 00:05:11.306 --> 00:05:14.431 that is launching, not just picking out 196 00:05:14.431 --> 00:05:15.890 and opening up Pokemon packs, 197 00:05:15.890 --> 00:05:17.390 but adding a social layer to it. 198 00:05:17.806 --> 00:05:19.390 You can delegate packs to others to open. 199 00:05:19.681 --> 00:05:20.806 So for example, they're 200 00:05:20.806 --> 00:05:22.140 working with a lot of streamers 201 00:05:22.640 --> 00:05:23.390 where the viewers can 202 00:05:23.390 --> 00:05:25.348 delegate packs for them to open, 203 00:05:25.681 --> 00:05:27.181 but the viewers get to keep the packs, 204 00:05:27.181 --> 00:05:28.890 but have this social experience together. 205 00:05:29.890 --> 00:05:30.556 There's a lot of social 206 00:05:30.556 --> 00:05:31.473 elements that can be added 207 00:05:31.681 --> 00:05:35.223 into this fun pack opening experience, 208 00:05:35.598 --> 00:05:37.431 which I think is cool, but sure. 209 00:05:38.640 --> 00:05:39.890 Yeah, we'll see a lot of variations 210 00:05:40.098 --> 00:05:41.306 and experimentation of 211 00:05:41.306 --> 00:05:43.556 this vertical expanding. 212 00:05:43.598 --> 00:05:46.015 Yeah, I think on the social side, 213 00:05:46.015 --> 00:05:48.890 that is the biggest interesting feature 214 00:05:49.015 --> 00:05:50.640 that I think FOMO is the first one 215 00:05:50.640 --> 00:05:51.890 that kind of unveiled that, 216 00:05:51.890 --> 00:05:52.890 hey, this could be a flywheel 217 00:05:52.890 --> 00:05:54.473 that can bring on a ton of creators 218 00:05:54.473 --> 00:05:55.723 and users at the same time. 219 00:05:56.348 --> 00:05:57.056 And then you look at, 220 00:05:57.390 --> 00:05:58.056 now Robinhood came 221 00:05:58.056 --> 00:05:59.265 out with social, right, 222 00:05:59.848 --> 00:06:01.306 about, I think it was 223 00:06:01.306 --> 00:06:02.181 like two months ago, 224 00:06:02.598 --> 00:06:03.723 where you can share your trades, 225 00:06:03.723 --> 00:06:04.890 and I think the similar thing 226 00:06:04.890 --> 00:06:06.098 will happen for collectibles. 227 00:06:06.765 --> 00:06:09.140 I'm more interested in what flywheel 228 00:06:09.306 --> 00:06:10.431 actually makes sense for collectibles. 229 00:06:10.765 --> 00:06:12.348 I don't have the exact answer, right? 230 00:06:12.348 --> 00:06:13.223 I don't think anyone does, 231 00:06:14.098 --> 00:06:14.931 and that's kind of up 232 00:06:14.931 --> 00:06:16.056 to the market to decide, 233 00:06:16.056 --> 00:06:17.973 but it needs to be a good flywheel of, 234 00:06:18.223 --> 00:06:21.181 hey, either creators are maybe putting in 235 00:06:21.181 --> 00:06:23.223 some of their items into a pack, right? 236 00:06:23.223 --> 00:06:24.765 And then they can bring on their users 237 00:06:24.765 --> 00:06:26.473 and their followers to open it, 238 00:06:26.765 --> 00:06:27.931 or there has to be some sort of element 239 00:06:27.931 --> 00:06:29.265 that gets people to keep coming back. 240 00:06:29.765 --> 00:06:30.390 Otherwise, I think a 241 00:06:30.390 --> 00:06:31.681 simple sort of social feed 242 00:06:31.681 --> 00:06:32.931 is not enough to 243 00:06:32.931 --> 00:06:34.473 capture the same audience. 244 00:06:34.473 --> 00:06:35.265 I mean, FOMO, I think, 245 00:06:35.515 --> 00:06:36.723 makes a ton of sense, right? 246 00:06:36.765 --> 00:06:39.390 Like KOLs, influencers, right? 247 00:06:39.390 --> 00:06:40.431 Like you sort of post 248 00:06:40.431 --> 00:06:42.598 your thesis on a coin, 249 00:06:42.598 --> 00:06:43.515 it goes up, then your 250 00:06:43.515 --> 00:06:44.556 followers kind of come in 251 00:06:44.640 --> 00:06:46.473 and participate, right? 252 00:06:46.473 --> 00:06:47.473 So I think the flywheel 253 00:06:47.473 --> 00:06:48.473 makes a ton of sense there, 254 00:06:48.848 --> 00:06:49.806 and we've yet to see what 255 00:06:49.806 --> 00:06:51.181 that looks like for collectibles. 256 00:06:51.556 --> 00:06:52.098 Gotcha, gotcha. 257 00:06:52.431 --> 00:06:52.848 Yeah, so it sounds 258 00:06:52.848 --> 00:06:53.598 like you guys are focusing 259 00:06:53.598 --> 00:06:56.473 a lot of B2B2C kind of networking, 260 00:06:56.806 --> 00:06:58.015 or bringing on these builders 261 00:06:58.306 --> 00:07:00.765 and businesses on top of your chain. 262 00:07:01.515 --> 00:07:03.431 Given the context of Token2049, 263 00:07:03.640 --> 00:07:05.515 I was curious what some of your 264 00:07:05.515 --> 00:07:06.765 conversations look like 265 00:07:07.431 --> 00:07:08.598 when you talk to these founders. 266 00:07:08.598 --> 00:07:09.348 What are they kind of, 267 00:07:09.348 --> 00:07:10.556 what are they looking for 268 00:07:10.556 --> 00:07:12.015 when they look to come on chain? 269 00:07:12.473 --> 00:07:14.015 And how do you say, you 270 00:07:14.015 --> 00:07:16.681 know, portray a message saying, 271 00:07:16.681 --> 00:07:18.348 "Hey, Monad would be the 272 00:07:18.348 --> 00:07:20.181 best fit for your team, 273 00:07:20.765 --> 00:07:22.306 your product, come to us." 274 00:07:23.348 --> 00:07:24.223 Yeah, I think there's 275 00:07:24.223 --> 00:07:25.556 several elements to it. 276 00:07:25.765 --> 00:07:28.848 I would say first is you want a chain 277 00:07:28.848 --> 00:07:30.306 that is technically a performance. 278 00:07:30.848 --> 00:07:34.098 You know, on Monad is with a combination 279 00:07:34.098 --> 00:07:34.890 of like asynchronous 280 00:07:34.890 --> 00:07:36.431 execution, parallel execution, 281 00:07:37.140 --> 00:07:39.098 you have very minimal block 282 00:07:39.098 --> 00:07:41.265 times of 300 milliseconds, 283 00:07:41.681 --> 00:07:42.556 finality is about 600 284 00:07:42.556 --> 00:07:44.556 milliseconds, EVM compatible. 285 00:07:46.390 --> 00:07:47.306 I think you want to 286 00:07:47.306 --> 00:07:49.015 also have Category Labs, 287 00:07:49.015 --> 00:07:49.848 which is a great team 288 00:07:49.848 --> 00:07:51.056 that's developing the blockchain, 289 00:07:51.556 --> 00:07:52.473 coming out with privacy, 290 00:07:52.681 --> 00:07:53.640 coming out with different innovations. 291 00:07:53.890 --> 00:07:54.765 I think that's very important, 292 00:07:55.181 --> 00:07:55.973 especially like in a 293 00:07:55.973 --> 00:07:57.723 sort of quantum future, 294 00:07:57.723 --> 00:07:58.556 you want to be able to 295 00:07:58.556 --> 00:07:59.515 see how you can survive. 296 00:08:00.348 --> 00:08:01.640 So we're very dedicated to that. 297 00:08:02.056 --> 00:08:04.515 And secondly, I would say is a chain 298 00:08:04.515 --> 00:08:06.056 that is also more incredibly neutral. 299 00:08:06.431 --> 00:08:07.348 I think when you look at a 300 00:08:07.348 --> 00:08:10.181 lot of these sort of teams 301 00:08:10.390 --> 00:08:11.765 and other chains in the landscape, 302 00:08:12.306 --> 00:08:13.181 you could be building something 303 00:08:13.181 --> 00:08:14.431 and they could all of a sudden 304 00:08:15.015 --> 00:08:15.640 create like a similar 305 00:08:15.640 --> 00:08:17.265 product and compete against you. 306 00:08:17.265 --> 00:08:19.056 I think for our stance is that, 307 00:08:19.598 --> 00:08:20.015 you know, we want 308 00:08:20.015 --> 00:08:21.181 different types of founders to come 309 00:08:21.181 --> 00:08:22.515 and we will not be the 310 00:08:22.515 --> 00:08:23.515 ones to compete with you 311 00:08:24.140 --> 00:08:25.181 on the things that you're building. 312 00:08:25.723 --> 00:08:26.140 You know, ultimately 313 00:08:26.140 --> 00:08:27.056 we want you to succeed. 314 00:08:27.056 --> 00:08:28.181 So I think that's a pretty 315 00:08:28.181 --> 00:08:29.181 strong stance that we take. 316 00:08:30.348 --> 00:08:33.431 And thirdly, I would say is a team 317 00:08:33.431 --> 00:08:35.265 that is really just with you through 318 00:08:35.265 --> 00:08:36.056 every step of the way. 319 00:08:36.431 --> 00:08:38.973 So how we support teams is, you know, 320 00:08:39.515 --> 00:08:41.181 we all come from a sort of venture 321 00:08:41.181 --> 00:08:41.973 investing background. 322 00:08:41.973 --> 00:08:43.015 So we're very well 323 00:08:43.015 --> 00:08:44.140 connected to like funds, 324 00:08:44.890 --> 00:08:46.306 to, you know, different creators, 325 00:08:46.598 --> 00:08:48.890 to info providers that 326 00:08:48.890 --> 00:08:49.973 we can help founders grow. 327 00:08:49.973 --> 00:08:51.223 So we're very well connected there. 328 00:08:51.223 --> 00:08:52.598 We have a world-class security team. 329 00:08:53.181 --> 00:08:53.931 So we're always there to 330 00:08:53.931 --> 00:08:56.181 sort of be with founders 331 00:08:56.181 --> 00:08:57.056 every step of the way. 332 00:08:57.681 --> 00:08:59.515 And we make it very clear from, you know, 333 00:08:59.598 --> 00:09:00.723 the first meeting that, hey, like, 334 00:09:00.723 --> 00:09:01.848 if you're building this on Monad, 335 00:09:01.848 --> 00:09:03.181 we want to make sure that you succeed. 336 00:09:04.140 --> 00:09:04.973 And obviously we want 337 00:09:04.973 --> 00:09:06.015 to also make sure that 338 00:09:06.681 --> 00:09:07.473 from the foundation side 339 00:09:07.473 --> 00:09:08.431 that these are teams that are, 340 00:09:08.431 --> 00:09:09.723 you know, having great traction, 341 00:09:09.973 --> 00:09:11.140 founders that have the 342 00:09:11.140 --> 00:09:14.140 right concepts to sort of 343 00:09:14.681 --> 00:09:15.390 continue to build 344 00:09:15.390 --> 00:09:17.140 because ultimately it's like, 345 00:09:17.765 --> 00:09:18.306 you know, you could have, 346 00:09:18.640 --> 00:09:19.765 you should be delusionally optimistic 347 00:09:19.765 --> 00:09:20.598 about your building, 348 00:09:20.598 --> 00:09:21.765 but at the same time, 349 00:09:21.765 --> 00:09:23.015 you'd have good judgment about execution. 350 00:09:23.431 --> 00:09:23.723 For sure. 351 00:09:24.640 --> 00:09:25.140 Yeah, that sounds like 352 00:09:25.140 --> 00:09:26.556 there's a lot of founder 353 00:09:26.806 --> 00:09:28.390 can benefit from working with you guys, 354 00:09:28.431 --> 00:09:29.223 watching with you guys. 355 00:09:29.640 --> 00:09:30.806 That said, is there something 356 00:09:30.806 --> 00:09:32.390 that you're most interested in 357 00:09:32.390 --> 00:09:33.181 or you're looking for 358 00:09:33.181 --> 00:09:34.015 when it comes to founders 359 00:09:34.015 --> 00:09:35.890 that you want to shoot 360 00:09:35.890 --> 00:09:37.015 that interest out there? 361 00:09:37.973 --> 00:09:39.598 What do you, what vertical are you, 362 00:09:39.806 --> 00:09:41.306 do you see the most potential or 363 00:09:41.306 --> 00:09:42.931 promising, et cetera? 364 00:09:43.431 --> 00:09:43.806 I think. 365 00:09:44.181 --> 00:09:44.723 Or do you just like 366 00:09:44.723 --> 00:09:45.473 Pokemon cards, you know? 367 00:09:46.306 --> 00:09:47.098 I mean, I like Pokemon cards. 368 00:09:47.390 --> 00:09:48.765 I think obviously if 369 00:09:48.765 --> 00:09:49.723 I was a founder today, 370 00:09:49.723 --> 00:09:51.681 I would be cautious about 371 00:09:51.681 --> 00:09:53.765 building another sort of 372 00:09:53.890 --> 00:09:57.640 gacha Pokemon card app on a chain. 373 00:09:57.681 --> 00:09:59.098 I think that space is very saturated. 374 00:09:59.890 --> 00:10:01.181 I would say that if you're 375 00:10:01.181 --> 00:10:02.056 going to build something, 376 00:10:02.056 --> 00:10:03.681 you need to obviously be 377 00:10:03.681 --> 00:10:05.265 good execution wise, right? 378 00:10:05.265 --> 00:10:08.098 Like you should have now with the tools, 379 00:10:08.098 --> 00:10:09.765 tooling with like AI and all this stuff, 380 00:10:09.765 --> 00:10:10.890 I think you don't have 381 00:10:10.890 --> 00:10:12.723 an excuse to not like, 382 00:10:12.723 --> 00:10:14.348 to sort of like execute slowly. 383 00:10:14.348 --> 00:10:15.140 Like you should be able to 384 00:10:15.140 --> 00:10:16.681 do things at a quick pace. 385 00:10:17.890 --> 00:10:20.848 Second is you should be, again, 386 00:10:20.848 --> 00:10:21.431 like you should be 387 00:10:21.431 --> 00:10:22.806 delusionally optimistic 388 00:10:23.015 --> 00:10:23.431 about what you're 389 00:10:23.431 --> 00:10:24.431 building and have conviction, 390 00:10:25.265 --> 00:10:27.015 but that doesn't mean that, you know, 391 00:10:27.056 --> 00:10:28.681 you should be having at the same time, 392 00:10:28.681 --> 00:10:30.098 good judgment about every 393 00:10:30.098 --> 00:10:31.098 like step that you're taking. 394 00:10:32.848 --> 00:10:34.348 And then I'd say thirdly is, 395 00:10:34.848 --> 00:10:36.223 I mean, I think we welcome all founders. 396 00:10:36.973 --> 00:10:37.556 Obviously like everyone 397 00:10:37.556 --> 00:10:38.556 has a different skillset. 398 00:10:39.140 --> 00:10:40.640 And ultimately I do like 399 00:10:40.640 --> 00:10:42.723 founders that are just very like 400 00:10:43.015 --> 00:10:45.306 scrappy, very like high energy, 401 00:10:45.306 --> 00:10:46.723