Supply, demand and durability: A framework for surviving cycles

Santiago Santos, Founder, Inversion Capital

Episode 8 of Layer One, hosted by The Block's Kelvin Sparks and Hypha founder Steven Gates, was recorded with Santiago R. Santos, founder of Inversion Capital.

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In Episode 8 of Layer One, The Block’s Kelvin Sparks and Hypha founder Steven Gates were joined by Santiago R. Santos of Inversion Capital. He explains why many crypto token valuations are structurally flawed and outlines his framework for investing in durable, cash-flow-supported adoption, with a focus on B2B stablecoin use cases.

Outline

- Intro
- Scope and disclaimer
- FDV and investor framing
- Valuation bias
- Investing through cycles
- Choosing Avalanche infrastructure
- Retrofitting real businesses
- Who’s building this model
- Writing, thinking and first principles
- Fieldwork beats theory
- Asking the right questions
- TGE and FDV reality
- Final takeaways

GUEST/HOST LINKS
Santiago R Santos - twitter.com/santiagoroel
Inversion Capital - twitter.com/inversion_cap
Steven Gates - ⁠⁠⁠twitter.com/stvngts⁠⁠⁠
Kelvin Sparks - ⁠⁠⁠twitter.com/imyoungsparks⁠⁠⁠

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