As early investors in so many of the new, dynamically growing companies with technologies and services that have transformed our lives across so many industries, we are well aware of the opportunities—and disruption—created by transformative innovation.
Blockchain technology reminds me of the early days of the internet, the “dot-com era.” It holds lots of promise, but today has many competing protocols and applications as well as rampant speculation.
Bitcoin was the subject of a term paper a student mentee of mine wrote as an undergraduate at a college here in San Diego four years ago. He recently informed me that he has “retired” after cashing in the gains he made in Bitcoin and Ethereum, two of the largest cryptocurrencies built on blockchain technology.
Stories like these have captured the public imagination, yet we believe that this revolutionary technology creates many opportunities beyond Bitcoin and other cryptocurrencies for long-term investors in growing companies like us. We seek to invest in dynamic companies that are capitalizing on positive change to produce sustainable revenue and/or earnings growth that is not yet fully recognized by the market.