#761 The 50 Most Promising Start Ups w/ Hannah Miller & Kate Clark

— Hannah Miller and Kate Clark from The Information discuss their annual list of 50 most promising startups, which included a dedicated crypto section for the first time this year.

— The selection process uses metrics including funding raised (under $100M) and valuations (under $1B), with consideration for founder pedigree, revenue models, and future outlook.

— Tiger Global and Andreessen Horowitz dominate venture investing in 2021, with Tiger executing nearly one deal per day while maintaining a hands-off model that founders respect.

— The blurring lines between fintech and crypto categories suggest traditional fintech companies will increasingly pivot toward Web3 integration in 2022.

— NFTs and gaming represent major growth areas, with protocols tackling user accessibility challenges and compliance startups positioned to help companies enter crypto safely.

— Token-based valuations differ fundamentally from equity valuations—they often reflect ideological commitment to decentralization rather than pure profit expectations.

— Watch for a wave of "Web3 rebranding" across traditional companies in early 2022; distinguish genuine strategic integration from superficial pivots designed to capture trend momentum.

— Consider investment thesis differences between token protocols (decentralization-focused, community-aligned) and traditional equity startups (profit-driven); these require separate evaluation frameworks.

— Monitor compliance and infrastructure plays in crypto, as these companies will increasingly become the enablers for mainstream adoption and regulatory entry.