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The Delphi Podcast

The Delphi Podcast
The Delphi Podcast
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  • Mike Dudas (6MV): Pump.Fun, One of the Greatest Seed Investments Ever
    Join Tommy Shaughnessy as he sits down with Mike Dudas, Managing Partner at 6th Man Ventures, to discuss one of the most successful seed investments in crypto history. Mike shares the inside story of backing Pump.Fun years before it became a cultural phenomenon, generating over $800 million in fees and reaching a $5.5 billion FDV. From cold DMs to billion-dollar outcomes, this conversation explores venture capital strategy, founder evaluation, and navigating the intersection of AI and crypto investing.6th Man Ventures: https://6thman.ventures🎯 Key Highlights▸ The untold story of Pump.Fun's seed round: from cold outreach to billion-dollar success▸ Why regulatory risk-taking paid off in the Trump administration▸ How to evaluate crypto founders differently than traditional startups▸ The creator economy revolution: streaming meets tokenomics▸ Digital Asset Trusts (DATs): the new MicroStrategy wave▸ AI's impact on venture capital processes and decision-making▸ Why attention spans are killing crypto Twitter's excitement▸ From Bonk to Pump: lessons in meme coin investing▸ Building conviction in contrarian bets during bear markets▸ The importance of speed and decisiveness in early-stage investing💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Mike's Twitter: @mdudas▸ 6MV's Twitter: @6thManVentures🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🧠 Intelligence: https://www.delphiintelligence.io🐦 Twitter: https://x.com/delphi_intel🎧 Listen onSpotify: Apple Podcasts: Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Intro: Mike Dudas, 6th Man Ventures00:30 — The Pump.Fun origin story: cold outreach and magical moments03:45 — Regulatory risk-taking and the Trump administration impact06:30 — Why other VCs backed out over legal concerns08:15 — Being hands-on with portfolio companies without being pushy10:30 — Pump.Fun's evolution: from bonding curves to creator streaming14:00 — The Bonk vs Pump competition and market dynamics17:00 — How AI and AGI are changing venture capital investing20:15 — Digital Asset Trusts: the new wave of crypto investment vehicles26:00 — Why crypto Twitter seems less excited despite regulatory clarity32:15 — Using AI in venture processes: market research and founder support38:45 — The most common path from DM to investment42:00 — Founder evaluation: red flags and green flags47:15 — When to tell portfolio companies it's time to move on51:15 — Decision-making under pressure: the "hell yes" principle54:00 — Staying entrepreneurial as a fund grows and succeedsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.
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  • Michael Egorov: Yield Basis - Bringing Real Yield to Bitcoin
    Join José Macedo and Yan Liberman as they host Michael Egorov, co-founder of Curve Finance and one of DeFi's original pioneers. Michael introduces Yield Basis — his ambitious new protocol that aims to solve one of DeFi's biggest problems: impermanent loss. Learn how this innovation could finally unlock natural, sustainable yield on Bitcoin at scale, creating the long-sought "holy grail" of yield-bearing Bitcoin without the downsides of traditional AMM strategies.Curve Finance: www.curve.financeYield Basis: https://yieldbasis.com🎯 Key Highlights▸ Yield Basis: Eliminates impermanent loss for single-sided crypto exposure▸ Impermanent loss problem: Why AMMs underperform buy-and-hold▸ Michael's solution: 2x leverage counters square-root pricing▸ Why Curve pools beat Uniswap v2▸ Historical sims: 10-20% APR on Bitcoin▸ Borrowing mechanism: Capital via crvUSD allocation▸ Tokenomics: Choose real yield OR tokens▸ Dynamic admin fees adjust with staking▸ GTM: Target miners, funds, treasuries▸ Multi-chain: Separate tokens vs. bridges▸ Market size: $50-100B addressable▸ Beyond Bitcoin: ETH and volatile assets▸ Michael on DeFi vs. OG principles▸ Challenge: Matching sims to reality▸ Why this beats points and yield farming💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Michael's Twitter: @newmichwill▸ Curve Finance Twitter: @CurveFinance▸ Yield Basis Twitter: @yieldbasis🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 - Intro: Yield Basis and Michael Egorov01:15 - Yield Basis: Single-sided LP without impermanent loss02:00 - Impermanent loss with Bitcoin/USDT07:30 - AMMs create "buy low, sell high"09:00 - Solution: Leverage eliminates square-root pricing13:00 - Curve beats Uniswap v215:30 - Historical sims: 10-20% APR19:00 - Borrowing: Arbitrage and debt management24:30 - Net returns after costs25:15 - crvUSD as low-cost capital27:15 - Separate protocol vs. Curve integration28:00 - Tokenomics: Real yield OR tokens32:45 - Points vs. transparent distribution36:00 - Dynamic fees prevent zero-division40:00 - GTM: Miners, funds, institutions43:00 - Multi-chain: Instances vs. bridges48:30 - BD with competing chains50:30 - Curve vs. Yield Basis governance52:00 - Modern vs. OG DeFi principles55:30 - Treasury relationships vs. decentralization56:30 - Challenge: Real-world performance58:30 - Market: $50-100B addressable1:02:00 - crvUSD scaling mechanics1:06:15 - Market cap ceiling calculations1:08:00 - Beyond Bitcoin: Gold, volatiles1:08:45 - DeFi innovations: Pendle, Athena1:11:30 - Hyperliquid bootstrap strategy1:12:00 - Closing: Growth parallelsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.
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  • pump.fun's Sapijiju: First-Ever Discussion on Building the Future of Social Trading
    Anil Lulla and Yan Liberman host Sapijiju, co-founder of Pump.fun. Sapijiju shares Pump.fun’s bigger vision: beyond meme coins, it’s aiming to be the most rewarding social platform, revolutionizing creator monetization, and building a $2B-backed financial ecosystem.Pump.fun: https://pump.fun🎯 Key Highlights▸ Pump.fun’s vision: TikTok + Robinhood + Twitch in one▸ Streamers earning 100–300x more than on traditional platforms▸ 9 failed products before finding product-market fit▸ Why most crypto firms are just riding Bitcoin▸ New fee model: $2.4M to creators on day one▸ Mobile-first: beating desktop crypto apps▸ $2B balance sheet for smart capital moves▸ 100% revenue buybacks (Hyperliquid/Binance playbook)▸ Roadmap: stablecoin + full financial stack▸ Young founders vs. traditional finance▸ Why social media’s incentives are broken▸ Targeting 16–24s ignored by incumbents▸ Stats: 70 staff, $1.6B locked, billion+ daily volumes▸ Aggressive M&A, Facebook-style💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Sapijiju's Twitter: @sapijiju▸ Pump.fun Twitter: @pumpdotfun🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 – Intro & Sapijiju’s crypto journey04:45 – 9 failed products → Pump.fun success07:15 – Product-market fit & anti-rug mechanism09:15 – Scaling team to 7010:30 – Vision: social trading super-app13:00 – $2.4M to streamers on launch day14:15 – Why social platforms fail creators16:45 – 300x better monetization18:15 – DMs, streaming & mobile-first19:30 – Competing vs. Coinbase/Binance21:45 – User patterns: TikTok + finance24:30 – Network effects via creator rewards26:30 – $500k creator starter kits28:00 – Mobile strategy for viral growth29:15 – Zora vs. Pump.fun (content vs. coin)31:15 – Small changes → 5x streaming growth33:30 – Sandbox for creator freedom35:15 – Telegram + crypto-native tools36:30 – Democratized ICOs38:15 – $1.6B locked, billion+ daily volumes39:15 – Stablecoin vision40:15 – Long-term: global takeover42:30 – $2B balance sheet strategy44:30 – ROI-driven capital deployment45:15 – M&A playbook46:15 – DAT & institutional access47:15 – Revenue buybacks model49:15 – VCs missing meme culture51:15 – Story Protocol critique53:30 – Meme coins vs. infra “scams”54:30 – Generational wealth cycles57:45 – Crypto as last frontier59:15 – TradFi as modern slavery1:01:30 – Black Mirror & moderation1:02:30 – Mobile growth engines1:03:30 – Scaling to $200M daily revenue1:04:30 – Post-token comms lessons1:05:30 – Open DMs & next episode1:06:15 – Closing thoughtsDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.
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  • José Macedo and Pondering Durian: The Birth of Delphi Intelligence
    Join Tommy Shaughnessy as he hosts Pondering Durian (Lead at Delphi Intelligence) and José Macedo (Co-Founder at Delphi Labs & Founding Partner at Delphi Ventures) to introduce Delphi Intelligence — Delphi’s new open research initiative focused on artificial intelligence. Learn why Delphi is going deep into frontier models, robotics, reinforcement learning, and the intersection of crypto and AI, and how this initiative aims to uncover transformative opportunities across emerging tech.Delphi Intelligence: https://www.delphiintelligence.io/🎯 Key Highlights▸ Why Delphi pivoted to AI after years in crypto research and investing.▸ Inside Delphi Intelligence: free, high-quality research on AI, RL, robotics, and more.▸ How the team blends deep research with deal sourcing — like early crypto days.▸ The three phases of AI scale: pretraining, inference, and the RL renaissance.▸ José and PD on decentralizing RL and building “The World’s RL Gym.”▸ The case for open AI: modular design, public reasoning, and collaboration.▸ How LLMs are learning to “think longer” — and what it means for training.▸ Open-source vs. proprietary AI — and China’s growing lead in open models.▸ Why José believes AGI may already be here with GPT-4o.▸ Where early AI startups can still win — from robotics to edge hardware.▸ Why this AI moment feels like crypto in 2017 — and why it’s still early.▸ The team’s views on AI safety vs. acceleration, including visits to Anthropic.▸ A geopolitical view: US vs. China in AI, talent flows, and capital differences.▸ What the next “Mag 7” of AI could be — and why Big Tech might not lead.▸ How Delphi plans to find early winners in AI, like they did in crypto.💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Delphi Intelligence's Twitter: @delphi_intel▸ PD's Twitter: @PonderingDurian▸ José's Twitter: @ZeMariaMacedo🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 - Introduction to Delphi Intelligence01:30 - Why AI Feels Like Crypto in 201703:30 - The AI Research Gap Delphi Aims to Fill06:30 - Robotics Deep Dive: Humanoids vs. Specialization10:00 - AI’s Impact on Traditional Tech Moats14:30 - Can the Mag 7 Be Disrupted by AI Labs?17:00 - Google, Meta, OpenAI, and the Race for Interface21:00 - Crypto as a Hedge Against AI-Driven Inequality24:00 - Safety vs. Acceleration: Anthropic vs. OpenAI28:00 - China’s Open-Source AI Strategy31:30 - Zero-to-One vs. One-to-X Innovation Models35:00 - Open-Source Models: Strategic or Suicidal?38:00 - Early-Stage Edge: Where Startups Can Win42:00 - Verticalized AI Apps, Context Engineering, and GPTs46:00 - US vs. China in Robotics: Software vs. Hardware50:00 - The Role of Simulation, Sensors, and Real-World Feedback53:00 - Delphi’s Dual Approach: Deep Research + Early Deal Flow55:00 - The Vision for Delphi Intelligence 10 Years OutDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.
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  • Dev.Fun: Leading AI Vibe Coding Platform on Solana with 20,000+ Applications Live
    Join Tommy Shaughnessy as he dives into the world of Dev.Fun with founders Devlord and Robi. Dev.Fun is revolutionizing app creation by enabling anyone — regardless of technical background — to build and launch applications using AI-powered vibe coding. Learn how the team is merging Web3, tokens, and consumer apps to create a decentralized ecosystem of user-generated tools, games, and communities. They cover technical architecture, distribution strategies, monetization paths, and why Solana is their chain of choice.Explore how Dev.Fun is pushing the boundaries of app creation, developer incentives, and decentralized attention markets — and why streaming, tokens, and memes might be the next big unlock.Dev.Fun: https://dev.fun/🎯 Key Highlights▸ Devlord and Robi's AI/crypto backgrounds and meeting via Pump.fun▸ Birth of Dev.Fun and the “vibe coding” philosophy▸ Empowering non-tech users to build token-based apps▸ Shift from memes to tools, productivity, and full-stack apps▸ Views on AI autonomy vs. human-led design▸ Monetization via in-app payments, tokens, and community ownership▸ Vision: from solo devs to tokenized micro-startups▸ Modular backend, AI-first SDKs, and payment stack▸ Stance on moderation, decentralization, and freedom▸ How Dev.Fun differs from Web2 builders like Locofy▸ Long-term incentives and plans for a Dev.Fun token▸ Crypto-native future of streaming, distribution, and curation▸ Why Solana powers their user-generated crypto apps💡 Subscribe for more crypto & AI insights! 🔔🧠 Follow the Alpha▸ Dev.Fun's Twitter: @devfunpump▸ Devlord's Twitter: @devlordone▸ Robi's Twitter: @RxbiXyz🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: / delphi_digital💼 LinkedIn: / delphi-digital🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 – Intro: Dev.Fun, Devlord & Robi01:00 – Meeting via Pump.fun, founding story02:20 – Vibe coding with AI04:15 – Empowering non-devs to launch apps06:30 – Token mechanics vs. traditional apps08:00 – In-app monetization strategies10:00 – Favorite builds: memes to tools13:30 – Viral Epstein app & other hits15:30 – AI autonomy vs. human input18:00 – Can vibe-coded apps scale to startups?20:00 – Foundation models shaping UX22:00 – Dev.Fun vs. Lovable: app store vs. SaaS24:00 – Crypto-native distribution’s edge26:00 – Tokens, capital, and incentives28:00 – What’s on-chain vs. off-chain30:00 – AI scaffolding under the hood33:00 – Future of decentralized infra35:00 – Curation, virality, and app caps37:00 – Moderation and NSFW policies40:00 – Streaming, attention, Black Mirror42:00 – Why Solana powers Dev.Fun44:30 – Post-launch reflections46:30 – Building vs. distributing48:00 – Build team spotlight49:15 – Token rewards & retention51:30 – Key metrics: usage & value flow53:00 – Final thoughts & visionDisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.
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