Generally Happy. Founder @bettermoney_co | prev: investor @a16zcrypto, MIT, eng @Microsoft
NYC
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Well, stablecoin expert was short lived. We're building @bettermoney_co and it's been a long time coming.
We're hiring across the board - especially engineers with payments, ledgering, and distributed systems experience. DM me if you want to build better money.
ALT Sam Broner leaves a16z to become a stablecoin expert, with recent news highlighting his new role and the company's hiring efforts.
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Going to Sibos in Miami? Worried about an agentic bank run? Send me a DM. Would love to assuage your fears while educating you about how stablecoins (Better Money!) will improve your business.
DMs open, schedule clear.
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I've been considering keeping a dozen cheap headphones in my backpack to hand out on the NYC subway.
Just like, "hey, want headphones? I've got a bunch of extras"
Should I try it? Might get punched, but could be worth it.
JUST IN: Singapore is cracking down on people blasting music & videos on public transportation, with violators now facing fines of up to $500 SGD.
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When I was a kid I found a golf club money clip from Tiffany's on the street. My mom told me it probably cost $150. I was absolutely blown away.
Anyway, I never used it and lost it a few years later. I don't care much for golf. But still think about it every couple weeks.
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My wife's now been with me 2x when I've been recognized for being "that guy who writes about stablecoins". One said, "I'm a huge fan of your work."
Thank you to the stablecoin community of SoHo for the ups. She still doesn't quite know what I do, but she knows it's legit 🫶 🙌
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I used to be an engineer, now I do this
ALT A message to Codex with the content, "Is it like hosted?"
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I frequently order an espresso drink at a coffee shop, then go next door to a bodega and order a BEC, then pick up the drink, then pick up the BEC.
Couple good locations in my neighborhood to do this in. Real best of both worlds situation.
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Just tried to show my mom Muse… i tell her we should log in to fresh direct, she goes oh, we have to log in to stuff? That’s too hard
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The reordering of old chats in @ChatGPT Cowork is pretty bad :/ Why am I always searching, dragging, and reordering?
Is there a better way?
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I have this haunting memory of an older woman attempting to buy a train ticket at the Metro North station in Wassaic.
Could *not* find the button to check out. Train was arriving. She could not distinguish which bit of text allowed her to click buy! She was getting visibly upset about possibly missinge her train.
This has a happy ending... I looked at the kiosk to help her and totally not her fault! The colors were, IIRC, dark blue and purple. The button was integrated unclearly into the text. She had no shot. But we helped her onto the train.
Anyway, a lot of software is bad. Software has real world ramifications for the user (a person!) in ways that the programmer can't foresee. I can't wait for all software to get much higher quality and cheaper to produce.
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Sam Broner retweeted
Expanding a neobank into a new country used to mean local bank accounts, local regulatory permission, a local card issuer, and seeding local liquidity. Built on stablecoins, it's one global ledger and vendors that work everywhere.
The catch: your stablecoin is only as useful as its interoperability with every other stablecoin and deposit token out there. That's the part we handle, so you can focus on making the product as good as possible.
@SamBroner explains on @_TalkingTokens
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If you’re a current student and ambitious, you should apply.
Whether you’re interested in startups, venture, business, operating, or building, you’ll learn from and with the incredible group of DRF investors, alumni, and community members.
Do it.
What do @tonioloko (Dandy), @mntruell (Cursor), and @laurenmhreeder (Sequoia) have in common?
While in school, they were all DRFers. Once they graduated, they stuck around.
It's the final countdown, apply to join the best group in venture by Thursday, 9/17 @ 11:59pm ET!
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Love this tweet because it perfectly encapsulates how crypto people try to solve everything with markets. You don't swap Wells Fargo dollars to Bank of America dollars. You transfer the money and pay a fee.
Stablecoins will only succeed when they're worth $1. $0.999 is clearly unacceptable.
On the venture opportunity, it's worth considering how banks, payment co's, neobanks, and other businesses move money today. I promise they're paying fees (platform, tx, fixed), although typically not a quote.
The profits accumulate to those connected to the network, managing the risk, and/or owning the distribution.
How is stablecoin clearing a venture-backable business? Sincerely curious.
If you price something worth $0.9990 at $1, you will perpetually lose money. I keep hearing "yeah, but you can net at scale". So, this is an FX OTC desk. Why is this anything other than a MM biz?
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Sam Broner retweeted
What happens when there are hundreds of stablecoins? Sam talks it through with @jacqmelinek on @_TalkingTokens, plus what a clearinghouse does and what it takes for stablecoins to become everyday money. Full episode below.
Today’s episode with @SamBroner, CEO of @bettermoney_co, dives into:
- How stablecoins could double margins for businesses
- What stablecoins need to become everyday payment infrastructure
- Why interoperability could be a bigger problem than having thousands of stablecoins
TIMESTAMPS
00:44 From Microsoft and the Fed to stablecoins
02:21 Why Sam saw the stablecoin opportunity early
04:54 Is today's money system actually working?
05:23 What is a stablecoin clearinghouse?
07:17 Why stablecoin issuers need interoperability
10:10 Why companies want their own stablecoins
12:25 Why Better Money doesn't issue a stablecoin
13:40 What happens if there are thousands of stablecoins?
17:13 When stablecoins become everyday money
18:56 What needs to happen for mainstream payments?
21:05 How quickly could stablecoin payments become normal?
22:53 The economics of credit card fees
24:41 Do stablecoins threaten Visa and Mastercard?
26:42 Stablecoins vs. banks and existing payment rails
28:05 Why AI agents could pay with stablecoins
30:23 Your AI agent may use stablecoins without you knowing
31:41 How much money should you trust an AI agent with?
33:54 When consumers stop thinking about stablecoins
36:43 Sam's vision for the future of money
37:10 Sam's career advice
Watch below or on X:
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