Venture Capitalist Draper tells Miami web3 crowd to 'Keep your heads down, keep working'

Quick Take

  • Tim Draper, founding partner of Draper Associates, sounded an optimistic tone at a Wednesday conference in Miami despite ongoing turmoil across crypto markets and his prediction of a looming recession.
  • “Keep your heads down, keep working,” Draper said.

Tim Draper, founding partner of VC firm Draper Associates, sounded an optimistic tone at a Wednesday conference in Miami despite ongoing turmoil across crypto markets and his prediction of a looming recession.

“We’re going through a fundamental change, and there’s going to be a lot of friction,” he said at the MiamiWeb3 conference. “Keep your heads down, keep working.”

Draper praised countries like Switzerland and Malta that he said had embraced web3 decentralization, while he said China had taken a turn back into the “dark ages.”

“It’s sort of a critical time for the world, and you see the weak leaders trying to control everybody, and you see the strong leaders setting people free and trusting people,” he said, calling Chinese president Xi Jinping a “weak leader.”

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