Crypto has been walled off from the real economy for years. That's changing. @eddylazzarin joins @smc90 and @rhackett to break down why crypto is entering a completely different phase, and what gets built once the rules finally catch up to the technology. 00:00 Intro 01:25 What it means to be a GP 02:00 Consensus vs. non-consensus bets 04:27 Network tokens and the CLARITY Act 09:35 Revenue, value capture, and network-token business models 21:18 Stablecoins as crypto’s first killer app 28:52 Engineer-philosopher mindset 39:04 Intellectual influences 52:40 Eddy’s path to crypto 01:03:15 The exuberant adoption phase of AI 01:14:38 Being "pro–AI psychosis"(a16z crypto)