How the hell is this guy a tech VC if he thinks prediction markets are new? The concept dates back to the 1500s… The modern electronic one was the University of Iowa’s market on the 1988 presidential election. HedgeStreet had event binaries in 1991, Intrade did them in 2001-2013 in EU. Hollywood Stock Exchange was in 1996 (but forced to switch to virtual money due to regulations) PredictIt launched in 2014 and had an SEC no action letter. And Augur had launched in 2018. Kalshi and Polymarket may be some of the first to have traction but it wasn’t “just an idea” two years ago! 🙄