New Balaji fund doesn’t mention hyperinflation or the ‘dying’ dollar
Balaji Srinivasan, one-time Coinbase CTO and former partner at Crypto cheerleading VC firm a16z, has decided that it’s time to start investing on behalf of others again and announced a new fund. It’s imaginatively called The Balaji Fund. The fund will, according to Srinivasan, focus on “ Crypto /web3, deep learning, augmented reality and virtual reality, genomics, quantified self, autonomous robotics, network states, and frontier technologies.” The minimum investment is $100,000 over two and a half years. However, the desire to manage other people’s money is a 180-degree turn from where Srinivasan stood not only on his own career but America as a whole less than a year ago. The worst bet ever In March of 2023, Srinivasan took one of the most absurd bets in recent financial memory when he predicted that not only would hyperinflation occur in the US but that within 90 days, bitcoin would trade at over a million dollars per coin. He bet two individuals one million dollars each...