Pranav(@vaneckpk):Interesting (yet obvious) insight I just heard @eladgil say: “There are startup industries where startups should win and incumbent industries where incumbents should win.” He said this in the context of robotics/self-driving cars, but I’m starting to think finance is an incumbent industry and that incumbent equities (post regulatory clarity) offer more asymmetric upside from blockchain tech adoption over pure play tokens. Simple rationale, this tech is a commodity, distribution is the moat.

2025.12.26 21:40

Interesting (yet obvious) insight I just heard @eladgil say: “There are startup industries where startups should win and incumbent industries where incumbents should win.” He said this in the context of robotics/self-driving cars, but I’m starting to think finance is an incumbent industry and that incumbent equities (post regulatory clarity) offer more asymmetric upside from blockchain tech adoption over pure play tokens. Simple rationale, this tech is a commodity, distribution is the moat.