What's Next for Delphi

The Delphi podcast discusses the company's retreat in Montenegro, focusing on team bonding and alignment across its three main divisions: Delphi Research, Delphi Ventures, and Delphi Labs. Since its inception in 2018, Delphi Research has evolved from a struggling subscription model to a successful consulting division, adapting to market changes and collaborating with top projects like Synthetix and Aave. The consulting team specializes in applied research and economic design, recently launching a new token design.

Delphi Labs has shifted from consulting to incubating and accelerating projects, identifying market gaps and building solutions, with a hands-on approach that has helped projects raise over $80 million. The distinction between Delphi Ventures and the incubation model is clear, with Ventures backing established founders while incubation supports emerging ones. The team recognizes promising candidates like Fabrizio, particularly with innovative fundraising models.

The podcast highlights the launch of Fun 2 and Fun 3, focusing on DeFi and crypto investments, with plans for Fun 4 to explore a broader range of opportunities. The introduction of Special Purpose Vehicles (SPVs) allowed for flexible capital management, but the program is being sunset to enable independent investments.

A significant theme is the convergence of AI and crypto, with discussions on the importance of expertise in AI and the formation of the Delphi Intelligence team to foster innovation. Personal experiences with AI investments are shared, emphasizing a strategy that includes direct investments and fund-to-fund approaches.

The conversation critiques the often detached perspective in the crypto community, noting the increasing institutional involvement and the evolution of crypto towards broader applications, including stablecoins. The potential of stablecoins for savings in developing countries and the U.S. treasury market is highlighted, along with the need for patience in the crypto space.

The recent market retreat is viewed positively, encouraging collaboration within Delphi Ventures and enhancing deal flow. A confident investment strategy in AI aims to support emerging managers and back top-tier funds, with optimism about the emergence of new $100 billion companies in the next five years. The trend of diversification among investors is noted, with excitement about the potential for crypto companies to gain recognition in influential rankings.