Social Graph Ventures

When we first published this memo internally, $ZORA had just launched. The token was dropping fast. The narrative wasn’t clear. But...

We met Yassine from ❜mbd in August 2023. Back then, Yassine was building an ML Models to create a feed of personalized Mirror, Farcaster, and Lens posts with the vision to create the web3 social recommendation layer powered by machine learning. He was part of the Chainlink AI/ML team and previously built ML recommendation systems at AWS, we knew he had the technical and ML and Web3 chops to make this a reality. After graduating a16z’s CSX23, we decided to invest. In 2023, conte...

Some quick points from what we're curious about this week: Farcaster choosing 10k pro subs...

AI code generation (codeGen) is quietly becoming one of the most important unlocks in crypto...

Bp.fun and pods.media show chains/brands are now paying users to mint — either for a new wallet or a simple impression DramaBox + ReelShort (microdrama apps) have generated $99M and $152M in the U.S. and more

This is a redacted and adapted version of our Q2 internal investor's update. 25Q2 was the quarter revenue came back into focus, and not just for us. From Hyperliquid to Maker, from Stripe’s acquisitions to Coinbase’s onchain consumer narrative. Crypto is shifting from narrative-first to numbers-first. For us, the Revenue Meta is the only true meta (which will evolve into the margins meta soon). From Coatue’s annual keynote, great view public and private markets, and one specific slide out the...

During our Farcon event we unveiled the concept of “Ad coins”, and did a whole spiel on MOATs in web3 social

Most pitches are around crypto as a casino, but everyone once in a while there’s one of crypto as deep disruption to an industry. Those are moments to stop and think...

Here's the latest updates on our internal thinking: Zora is moving. We’re up from our avg entry of $0.009. Our thesis was published here. Catalyzed by the base app...

Clanker was Beliefs but too early. Warming up on $ZORA, doing 2% fees on 3–30M daily volume, and virtually no Tiktok presence yet. Pokemon TCG market is gigantic, and growing, people are buying more cards now than ever. and more...