"It's a wonderful time to be a pragmatist building onchain." Chris Dixon, Ali Yahya, Eddy Lazzarin, and Guy Wuollet on Crypto Fund 5, where crypto is right now, and where it's heading next. 00:00 Open 01:31 Why raise Crypto Fund 5 now 02:10 The GENIUS Act and what regulatory clarity unlocks for builders 04:32 Why stablecoins are crypto's WhatsApp moment 08:54 Why the next era of crypto founders will be pragmatic, not ideological 11:49 From cypherpunk revolution to crypto's "collared shirt era" 15:02 Programmable money meets AI 21:15 Onchain capital markets for compute, energy, and credit 25:57 Why finance is the foundation, not the ceiling 28:48 AI agents as first-class economic actors 38:19 Why privacy is the only moat 41:26 Jevons paradox and the future of blockspace demand 43:20 Jolt and the zero-knowledge breakthrough 58:15 Writing the next chapter of Read Write Own @cdixon @alive_eth @eddylazzarin @guywuolletjr @rhackett