After the Foundation Era: Tokens, Policy, and Startup Structures

web3 with a16z crypto

Content provided by Andreessen Horowitz, A16z crypto, Robert Hackett, and Sonal Chokshi. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Andreessen Horowitz, A16z crypto, Robert Hackett, and Sonal Chokshi or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

26d ago 1:20:59

MP3•Episode home

with @eddylazzarin @milesjennings @JasonYanowitz

Welcome to web3 with a16z crypto. Today’s episode is on a super timely topic: How to design, govern, and grow decentralized networks in today’s changing policy landscape. It covers:

Why the “foundation era” of crypto is ending — and what comes next with DUNAs and BORGs
How U.S. policy shifts are creating real rules of the road
The difference between network tokens vs. company tokens (and why it matters for investors, builders, and other participants)
When protocols should flip the fee switch and start generating revenue
Common mistakes founders make when launching tokens and structuring projects

To unpack it all, you’ll hear from Miles Jennings, head of policy and general counsel at a16z crypto, and Eddy Lazzarin, a16z crypto’s CTO, in conversation with Jason Yanowitz, cofounder of Blockworks and host of the Empire podcast (where this conversation first aired) ... and which we’re excited to bring to you here.

Timestamps

0:00 Introduction

3:14 Regulatory Progress and Optimism in DC

9:34 The Problem with Offshore Foundations

13:58 The End of the Foundation Era

27:29 DUNAs and BORGs: New Legal Structures

38:42 Understanding Network Tokens

43:42 Network Tokens: Beyond L1 and L2

48:37 Company Tokens: Evolution and Challenges

51:09 The Legal Landscape of Token Offerings

1:04:25 Turning on the Fee Switch: When and Why

1:12:47 Balancing Portfolio Needs and Regulatory Clarity

1:15:36 Common Questions from Founders

1:20:17 Conclusion

📩 Subscribe for more from a16z crypto: https://a16zcrypto.substack.com/subscribe/

🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/

***

As always, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.

87 episodes