The Move to a Fully Digitized World and How it Affects Us
EXPONENTIAL TECHNOLOGIES
THE FIFTH ERA DIGITAL ECONOMY - NEXT PHASE
PAST TWENTY YEARS
Connectivity
Accessibility
Interactivity
Flexibility
Scaleability GREATEST WEALTH CREATION EVER
- POPULATION GLOBAL PROFIT - GDP PER CAPITA X POOLS IN FLUX - GLOBALIZATION WORLD’S MOST VALUABLE COMPANIES US’S RICHEST PEOPLE
1. Bill Gates 14. Steve Balmer 2. Warren Buffett 15. Sheldon Adelson 3. Jeff Bezos 16. Jacquelin Mars 4. Mark Zuckerberg 17. John Mars 5. Larry Ellison 18. George Soros 6. Michael Bloomberg 19. Phil Knight 7. Charles Koch 20. Michael Dell 8. David H. Koch 21. Laurene Powell Jobs 9. Larry Page 22. Len Blavatnik 10. Sergey Brin 23. Paul Allen 11. S. Robson Walton 24. Charles Ergen 12. Jim Walton 25. Carl Icahn 13. Alice Walton 68% FIRST GEN, 72% TECH, 88% GLOBAL HIGHEST RETURNING ASSETS
ANNUAL RETURNS OVER 25 YEARS (%)
Barclays Govt Bond Index 3% S&P 500 10% Nasdaq Composite 11% Late Stage VC Index 12% US VC Index 24% Early Stage VC Index 32% US ACCREDITED HOUSEHOLD PARTICIPATION
MORE THAN 97.5% ON SIDELINES WEIGHT OF INERTIA: 1. INDUSTRY 2. INTERESTS 3. NO ACCESS & MISINFORMATION FIXING THE INTERNET
“The Web as I envisaged it – we have not seen it yet.
The future is still so much bigger than the past”
Sir Tim Berners-Lee, Christ Church, Oxford DIGITAL ECONOMY - NEXT PHASE
PAST TWENTY YEARS TODAY’ ISSUES
Connectivity Concentrated
Accessibility Insecure
Interactivity Opaque
Flexibility Old World Payments
Scaleability Old World Assets BLOCKCHAIN
THE FIFTH ERA BLOCKCHAIN VS CRYPTOASSETS VS ICO’S
What is Blockchain? What are Cryptoassets? What is an ICO?
A blockchain is an open, Any form of asset that only An initial offering of distributed ledger that can exists digitally, that usually a cryptoasset to the record transactions has no central issuing or public – a form of between two parties regulating authority but technology enabled efficiently and in a verifiable instead uses a crowdfunding and permanent way decentralized system. MOIP “The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B, without A knowing B or B knowing A.”
Milton Friedman, 1999
Source: Pantera Capital DIGITAL ECONOMY - NEXT PHASE
PAST TWENTY YEARS TODAY’ ISSUES NEXT TWENTY YEARS
Connectivity Concentrated Distributed
Accessibility Insecure Secure
Interactivity Opaque Public
Flexibility Old World Payments Digital Payments
Scaleability Old World Assets Digital Assets MOST ACTIVE VENTURE INVESTORS
Entity 2017 Investments Keiretsu 139 New Enterprise Associates 137 Accel 112 500 Startups 104 Y Combinator 92 Google Ventures 81 Kleiner Perkins 72 Bessemer Ventures 69 Greycroft 65 Sequoia Capital 62
Source: Pitchbook, 2017 KEIRETSU CAPITAL FAMILY OF FUNDS
Deployment Date Investments
Co-Investment Fund I Nov 2014 (Closed) 42
Co-Investment Fund II Dec 2015 (Closed) 44
Co-Investment Fund III Dec 2017 (Closed) 39
Real Estate Fund I April 2016 (Open) 15
Co-Investment Fund IV Oct 2018 (Open) 0
Blockchain Fund of Funds 2018 (Open) 8-10 Funds Keiretsu Blockchain Fund Of Funds
• Blockchain Fund of Funds • Not Crypto/ICO focused • Max 99 investors • $7m/55 investors to date • Allocations to 8 leaders • 1% & 10% fee structure
* 1kx and Fabric in process BCP, FPV, PANTERA SELECTED INVESTMENTS MATTHEW C. LE MERLE [email protected]
415 994 4320