The Delphi Podcast

Join Tommy Shaughnessy as he speaks with Logan, Managing Partner of Frictionless Capital, about the high-stakes race to build a global blockchain-based financial system. Logan shares his updated thesis on why monolithic, high-throughput architectures like Solana are winning the battle for real revenue and trading dominance over modular designs.They dive deep into the "Global Exchange" vision, the physics of time-to-inclusion, and how innovations like Proprietary AMMs (PropAMMs) are redefining market making. Logan also explores the broader implications of AI, from the compounding power of Grok to the societal impact of a robot-led workforce.🎯 Key Highlights▸Analyzing the Frictionless chart showing that crypto apps on Solana are the fastest to reach $100M in revenue globally.▸ Why Logan remains bearish on the "incorrect" modular design and Layer 2 scaling solutions. ▸ How the speed of light and server location prevent current centralized exchanges from being truly global. ▸ A look at the next engineering frontier. ▸ The "crypto-native" evolution of order books that uses massive Oracle updates to eliminate stale quotes. ▸ Why Logan believes the market will split into either fully regulated exchanges or fully decentralized global engines. ▸ Why Elon Musk's Grok is positioned to be the smartest model over time. ▸ The "freaky" transition to humanoid automation and the potential for a 20-day "atom-moving" data center revolution.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Logan's Twitter: @LoganJastremski▸ Frictionless's Twitter: @FrictionlessVC🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://twitter.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Logan’s return to Miami & Fund 1 vs. Fund 2 thesis04:00 — The $100M revenue chart and acting on alpha08:00 — Why throughput alone isn't enough: execution as the North Star 11:00 — Solana’s parallel execution and the 2021 NFT "gas wars" 13:30 — Being "bearish decentralization" for its own sake 17:00 — The Global Exchange vs. New York physics limitations 22:00 — Multi-Leader design: 20ms inclusion and regional information 30:00 — Blockchains as the leading indicator for price discovery 34:00 — Rebuilding modern finance: efficient 24/7 global markets 38:30 — The hollowing out of regional, non-KYC exchanges 42:00 — Estimating the $20 trillion daily global trading market 45:00 — From AMMs to PropAMMs: the crypto-native order book 52:00 — Hyperliquid vs. Solana: product-led vs. engineering-led 59:00 — Retail order flow and the "payment for order flow" win-win 01:05:00 — Timeline for the multi-leader world (2027/2028) 01:11:00 — Returning to fundamentals: cash flows and PE ratios 01:15:30 — Bullish Grok: the vector of compute and real-world atoms 01:21:00 — Automation anxiety: Uber, gig work, and surgical robots 01:26:00 — Dystopian gambling, inflation, and the Zillow reality 01:29:00 — Financing the $30k robotDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy in San Francisco for the first podcast from the new Coliseum office. In this episode, Clay Robbins, Co-Founder of Coliseum, discusses how his team manages the world's largest online hackathons and why they chose to double down on the Solana ecosystem.They dive into the mechanics of sourcing 80,000 builders, the transition from remote to a massive in-person accelerator, and the shift from an infrastructure-focused crypto world to a new era of diverse consumer applications. From sub-3-hour marathons to "grenade" interview questions, Clay reveals what it truly takes to survive and win in the arena.🎯 Key Highlights▸The Numbers of Coliseum▸Clay shares the endurance training secrets that helped him clock a sub3-hour marathon in both Oakland and New York.▸How Coliseum distills 2,000+ global submissions down to a cohort of 10–15 elite investments.▸Why Coliseum moved from all-remote batches to a 75-desk physical hub in San Francisco.▸Why Clay believes Solana’s performance is the only viable infrastructure for the coming "application era".▸Why the Coliseum team now over-indexes on high-agency founders.▸The 15-minute "pressure test" interview used to suss out a founder’s conviction and humility.▸A new funding vehicle designed for companies launching on MetaDAO.▸A look at grand prize winners like Unruggable and Ore.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Clay's Twitter: @clayrobbins ▸ Coliseum's Twitter: ‪@Colosseum‬ 🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:    / @delphi_digital  Timestamps00:00 — Welcome to San Francisco: The first podcast from Coliseum’s new office.01:50 — Endurance Sports: Running sub-3 marathons and the Sam Lessin challenge.03:10 — What is Coliseum? Sourcing differentiation through global online hackathons.06:00 — Scaling the Funnel: Triage tools and the rote work of reviewing 2,000 projects.09:50 — The Cultural Zeitgeist: Naming hackathons like Cypherpunk and Breakout.11:30 — Why San Francisco? Overcoming the isolation of remote building.14:30 — Solana vs. L2s: Technical overhead, counterparty risk, and cultural kernels.21:00 — Emerging Themes: From DePIN and DeFi to prediction markets and stablecoins.23:40 — The Future of Payments: AI agents, X402 standards, and seamless commerce.27:30 — Venture as Art: Transitioning from idea-indexing to individual-indexing.33:30 — Partnership Dynamics: The specific roles of Matty Taylor, Nate Levine, and Clay.37:00 — Learnings from Slow Ventures: The 10x case vs. the 100x case.46:30 — 15-Minute Interviews: Why jumping straight to the "important three questions" beats small talk.51:30 — Success Stories: How Ore nearly broke Solana and landed on a high-revenue consumer model.53:30 — MetaDAO and Futarchy: Decision markets, token holder rights, and CEO accountability.59:30 — The STAMP Mechanism: A compliment to dilutive capital and the Safe.01:03:00 — The story of a 4-time hackathon participant winning the grand prize.01:06:30 — How to start building on Coliseum today.DisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he speaks with Nic Carter, partner at Castle Island Ventures, about his deep dive into the existential threat quantum computing poses to Bitcoin. After six months of intensive research and discussions with Nobel Prize-winning physicists, Nic breaks down why the "quantum threat" has moved from theoretical FUD to a material risk that the Bitcoin community is currently unprepared to face.They explore the "Q-Day" timeline, the vulnerability of Satoshi’s 2 million BTC, and the urgent need for a migration to post-quantum cryptography. Can Bitcoin’s rigid governance survive the most significant technical challenge in its history, or will sovereign nations and private firms reach the coins first?🎯 Key Highlights▸Why Nic stepped away from podcasts and TV to focus on precise technical writing.▸The 2025 Quantum Inflection: Why 2025 was a record year for quantum investment.▸The Trillion Dollar Bug Bounty: The "unsolvable" problem of Satoshi’s P2PK addresses.▸Why Bitcoin developers implemented Taproot without making it quantum-resistant.▸Defense in Depth for BTC: The technical hurdles of implementing post-quantum signature schemes and the potential for a mandatory "migration" period.▸How the U.S.–China rivalry mirrors the 1939 race for the atomic bomb.▸Applying maritime law to the potential "theft" of ancient Bitcoins by private firms like IBM or Microsoft.▸Scoring the Bitcoin core developers’ preparedness at a 1/100.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Nic Carter Twitter: @nic_carter🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:    / @delphi_digital  Timestamps00:00 — Miami loafers and Nic’s return from podcast retirement 01:50 — The 4-part series on Quantum’s risk to Bitcoin 03:00 — Why "Quantum FUD" is actually quality risk assessment 04:30 — 2025: The year the consensus among physicists shifted 07:30 — Probability of a quantum break: 70-80% by 2035 10:00 — Defining Quantum vs. Classical: Probabilistic states and entanglement 15:30 — Physical vs. Logical Qubits: The importance of fidelity thresholds 20:00 — Risk #1: The 2 million BTC sitting in Satoshi’s original wallets 24:00 — Risk #2: Address reuse and the vulnerability of Taproot 28:30 — The "Y2K" of Bitcoin: Working backward from Q-Day 34:00 — The 1/100 preparedness score for Bitcoin Core 40:00 — Geopolitical scenarios: Will the US government requisition the coins? 44:00 — The 1939 Parallel: Secret research and the race for "facile material" 48:00 — How an IBM/Microsoft "theft" would look on-chain 53:30 — Why ETH and Solana may have an easier path to upgrading 59:00 — Maritime Law: Shipwrecks, the Titanic, and "finds" in Bitcoin 01:05:00 — Final outlook: Biting the bullet vs. pleasant fantasiesDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.

Join Tommy Shaughnessy as he speaks with Mike McCormick, founder of Halcyon, about the urgent intersection of AI acceleration and safety. Mike shares his path from venture capital to launching a hybrid nonprofit–fund model focused on securing advanced AI systems. They dive into mechanistic interpretability, global competition for AGI, and what a safe superintelligence future could look like. Can we build superintelligence safely? How do we balance innovation with existential risk? And what happens to humanity when AGI arrives?Halcyon Futures: https://halcyonfutures.org🎯 Key Highlights▸ Leaving VC to focus entirely on AI safety and security▸ Why Halcyon flipped the model: nonprofit first, fund second▸ Multi-layered “defense in depth” approach to AI biosecurity & cyber risk▸ The acceleration vs. safety debate — finding middle ground▸ Good Fire case: career grants into interpretability research▸ The 2×2 dilemma — speed vs. slowdown, centralization vs. decentralization▸ U.S.–China dynamics and fast takeoff scenarios▸ AI underwriting: how insurance can drive safety standards▸ Founder-market fit and mission orientation in AI startups▸ Risk, diffusion, and the uncertain path to AGI💡 Subscribe for more crypto & infrastructure insights! 🔔🧠 Follow the Alpha▸ Mike's Twitter: @MikeMcCormick_▸ Halcyon's Twitter: @HalcyonFutures🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Mike’s background & pivot to AI safety03:00 — The realization: AGI could change everything05:00 — Why VC wasn’t enough to solve the problem06:00 — Halcyon’s hybrid model and early mission08:00 — AI security concerns: misuse, bio, and control12:00 — Defense in depth: pre-training → deployment15:00 — The creativity vs. restriction trade-off17:30 — Pause AI vs. Build Baby Build20:00 — Speed vs. centralization: the 2×2 framework24:00 — Good Fire: career grants & interpretability27:00 — Writing to neurons: alignment and insight30:00 — How insurance markets can enforce safety36:00 — Mission-driven founders & conviction filters44:00 — Geopolitical race: U.S., China, and compute50:00 — Diffusion limits, adoption, and energy costs57:00 — Mass unemployment and meaning after AGI01:05:00 — What “winning” AGI means for humanity01:12:00 — Critical thinking, sycophantic AI, and engagement traps01:20:00 — UBI, adaptation, and new work paradigms01:30:00 — Three AGI futures: scale, shift, or stall01:36:00 — 20% catastrophic risk & asteroid analogy01:40:00 — Final message: talent is upstream of everythingDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast.

Join Ashwath Balakrishnan and Neel Daftary as they explore the future of DeFi infrastructure with Connor Howe, co-founder of Enso. After nine years of building in crypto, Connor has created what he calls "the shortcut to building on-chain applications" - a developer tool that abstracts away the complexity of integrating with hundreds of DeFi protocols. From powering Berachain's $3.1 billion launch to enabling developers to reduce build times from seven months to just days, Enso is positioning itself as the Unity engine for Web3.Enso: https://www.enso.build🎯 Key Highlights▸ Connor's nine-year journey from writing Solidity in Mist Wallet to building crypto infrastructure▸ How Enso powered Berachain's $3.1 billion DeFi launch behind the scenes▸ Reducing developer build times from 7 months to 1.5 days through abstraction▸ Why crypto needs more apps (4,800) than blockchains (1,000+) for mass adoption▸ The "fat engine thesis" - how abstraction layers will control blockchain routing▸ Enso's upcoming network model: action providers, grafters, and validators▸ The "Enso Drop" - accessing 370+ potential airdrops through network participation▸ Security through simulation: 4ms response times vs industry standard 2.6 seconds▸ Chain abstraction vs. application abstraction: the real path to user adoption▸ Why product beats paper in crypto's current critical juncture💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Connor's Twitter: @connor_enso▸ Enso's Twitter: @EnsoBuild🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Intro: Connor Howe, Enso co-founder01:15 — Nine years building in crypto: from Bitcoin to Ethereum03:00 — Early DeFi development challenges and the birth of Enso05:00 — Chain abstraction vs. application abstraction philosophy08:30 — Serving 8% of Web3's developer mindshare (2,250+ developers)11:00 — Berachain's $3.1B launch: Enso's behind-the-scenes role13:15 — AI agents, automation, and new use cases emerging15:00 — Reducing build times: from 7 months to 1.5 days case study17:30 — Security through simulation: 4ms response times21:30 — Why we need products people actually want to use23:15 — New developer onboarding trends and product directions26:30 — The Enso Network: action providers, grafters, validators30:00 — Self-service protocol integration and scalability33:00 — Enso vs. Yearn comparison and strategy differences35:15 — Network economics and fee distribution mechanisms39:00 — Upcoming TGE and token utility design41:00 — The "Enso Drop": accessing 370+ protocol airdrops42:00 — Developer relations strategy: YouTube, universities, incubators45:15 — Keeping developers away from crypto Twitter for innovation47:15 — Fat protocols vs. fat apps: the abstraction layer thesis51:30 — "Product beats paper" - crypto's critical junctureDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.