Off The Schneid
May 8 2013
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The almost two year long slump is over. I've led a new venture investment for USV, which closed a few weeks ago and was announced last night.
The company is Coinbase and my blog post announcing the investment is on the USV blog. The WSJ also wrote about it here.
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I have come to believe that a number of new fundamental technologies have hit the Internet and it is time to get busy putting out money.
One of these is Bitcoin. Here is a snippet of what I wrote today on the USV blog:
We believe that Bitcoin represents something fundamental and powerful, an open and distributed Internet peer to peer protocol for transferring purchasing power. It reminds us of SMTP, HTTP, RSS, and BitTorrent in its architecture and openness. Like what happened with those other low level protocols, entrepreneurs and developers are now building technology on top of Bitcoin to make it more useful, more accessible, and more secure.
http://www.avc.com/a_vc/2013/05/off-the-schneid.html Fred Wilson (born August 20, 1961) is a New York City-based venture capitalist and blogger.
Wilson is the co-founder of Union Square Ventures, a New York City-based venture capital firm with investments in Web 2.0
companies such as Twitter, Tumblr, Foursquare, Zynga and 10gen.
http://en.wikipedia.org/wiki/Fred_Wilson_(financier)
