What Attracted You To Crypto (Raoul Pal w/ Mike Novogratz) | Interview | Real Vision™

It wasn’t really until I left Fortress and
I stumbled into Joe Lubin, who runs ConsenSys’
Joe’s a college roommate and a friend.
And I looked at my portfolio.
I was like, I’ve got all this stuff.
Bitcoin hadn’t gone sideways for a while.
And I know Joe had been coding away for years
on this new project, Ethereum.
So I went to visit his office.
And it was my first aha moment.
I was like, shit, these guys are plotting
a revolution.
They were plotting a revolution to take down
all these centralized systems.
And so if it was the cloud, if it was ride-sharing,
file-sharing– all the verticals, they had
them on their Wall The music business.
They had a very clear sense of where they
were going?
They had a very clear sense.
And he is a complete believer in this new
world, in this decentralized, distributed
world– distributed trust, distributed ownership.
And I was literally there an hour.
And I was like, dude, I want to buy this business.
And we started talking about it.
And it was more complicated than I thought.
Everything was decentralized.
He said, come back in three weeks, I’ll know
what I can sell you.
And I was on my way to India.
So I at least bought some Ethereum.
Good macro guys know, when you smell something,
at least put something on.
So I bought a bunch of Ethereum at $0.96,
which was hard to do.
And then I went away.
By the time I came back from traveling in
India, it was $4 bucks, $5 bucks the next
And I realized, Joe no longer needed my capital
because he owned a lot of Ethereum himself.
But it really sucked me in.
I was like, this is more than just financial.
This is going to be web 3.0.
And why it’s got such vibrancy is that it’s
a millennial and Gen Z-led revolution.
And this is their game in lots of ways.
And at its core, it’s a distrust.
And it’s also more of a utopian– they want
to build a more fair system.


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