Join us as we welcome Elad Gil, one of Silicon Valley's legendary investors, to Bankless. Elad has backed over 40 unicorns, including Airbnb, Coinbase, Figma, and Stripe, and is a leading voice in AI, co-hosting the "No Priors" podcast. In this episode, we explore the transformative power of AI, its intersection with crypto, and the biggest tech investing opportunities for the next decade. We also dive into the evolving role of tech in politics, the future of decentralized innovation, and Elad’s insights into what makes a great founder. Don’t miss this deep dive with one of the brightest minds in tech and investing.
Exploring the Next Frontier: AI, Crypto, and Tech Investing with Elad Gil
Elad Gil, a name synonymous with success in Silicon Valley, joined us on the Bankless podcast to discuss the technological frontiers shaping the future. With a track record that includes backing 40 unicorns like Airbnb, Coinbase, Figma, and Stripe, Elad is a prescient thinker in tech and AI. He’s also the co-host of the "No Priors" podcast, where he unpacks the latest in AI—making him a fitting guest to discuss the convergence of artificial intelligence, crypto, and tech investing in the 2020s.
The State of AI
What Tech Investors Need to Know: AI continues to revolutionize industries, but as Elad pointed out, it’s not without its hype. 2024 witnessed major breakthroughs, from improved large language models to the rapid adoption of AI agents. Yet, the question remains: is AI overrated or underrated? Elad’s nuanced take highlights both the inflated expectations in some areas and the overlooked transformative potential in others.
The Big Bottlenecks: The industry is wrestling with new challenges, from hardware constraints to the flattening of performance improvements in successive GPT upgrades. The current demand for chips like Nvidia’s may reflect as much self-referential hype as genuine innovation. Still, Elad’s high-level thesis is that AI represents a new “unit of productive intelligence”—a paradigm shift that could rival the internet.
Crypto Meets AI: A particularly fascinating topic was the intersection of crypto and AI. Elad shared thoughts on experiments where AI agents are given social media access and crypto wallets, enabling decentralized, autonomous operations. While early-stage, this synthesis has the potential to create new paradigms in both fields.
Crypto’s Next Phase
Elad’s relationship with crypto has evolved over the years, from early investments in Coinbase to observing its cyclical nature. Despite Silicon Valley’s lukewarm adoption, Elad sees potential in the space. He attributes crypto’s slower unicorn generation to its complexity and long-term focus compared to traditional tech.
The Challenges Ahead: What’s holding crypto back? Regulatory uncertainty, public perception, and usability gaps are significant hurdles. However, as with AI, breakthroughs in tooling and infrastructure could unlock exponential growth.
AI + Crypto: When asked about the future convergence of these technologies, Elad expressed excitement. Imagine a world where AI agents manage decentralized finance (DeFi) portfolios or participate in governance. The possibilities are immense, albeit still theoretical.
The Future of Tech and Politics
2024 marked a turning point for tech’s involvement in politics. From Elon Musk and Marc Andreessen to Brian Armstrong, major players have taken a stance on issues like free speech and financial censorship. Elad weighed in on why this shift happened and whether it’s a durable trend. As tech integrates further into the fabric of society, its political entanglements are likely to deepen.
Key Takeaways for Tech Investors
Elad’s advice for investors in 2025 and beyond is to focus on foundational trends like AI and crypto while maintaining a long-term perspective. For those outside venture capital, investing in public companies leveraging AI or high-quality crypto projects can be an accessible way to participate in these trends.