The Delphi Podcast

The Delphi Podcast
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Conversations with Crypto Gigabrains. Hosted by Tommy, Co-Founder and Founding Partner at Delphi Ventures

  1. Sandy Kory: The Founder Obsessed Investor Behind BillionToOne, BaseTen & Palantir

    22 juin

    Sandy Kory: The Founder Obsessed Investor Behind BillionToOne, BaseTen & Palantir

    What makes a great founder? Sandy Kory has spent decades trying to answer that question. As the founder of Horizon, he's backed companies like Palantir, BillionToOne, Canva, BaseTen, and SendCutSend long before they became breakout successes. In this episode, Sandy shares the unconventional framework he uses to identify exceptional founders, why he ignores most pitch decks, why talent density matters more than almost anything else, and how he developed conviction in companies years before the market recognized them. KEY HIGHLIGHTS -Why Sandy invested in Palantir before the company had a clear business model -The founder traits he looks for before reviewing a pitch deck -How he discovered BillionToOne at a $4 million valuation -Why talent density is the most important metric in a startup -Missionary vs. mercenary founders -The role of intellectual honesty in building great companies -How Sandy evaluates founders in the first 20–60 minutes -Why he believes early-stage investing remains highly inefficient -The SendCutSend story and backing an overlooked manufacturing company -How AI may change venture capital—and what won't change TIMESTAMPS 00:00 Introduction 08:46 The Palantir Investment Story 23:22 Finding BillionToOne Early 36:00 Sandy's Founder Evaluation Framework 47:07 Missionaries vs. Mercenaries 53:18 Hiring, Talent Density & Red Flags 01:09:25 AI, Investing & The Future 01:19:29 The SendCutSend Story 01:34:03 Advice for Founders & Closing Thoughts Follow Tommy: https://x.com/Shaughnessy119 Follow Sandy: https://www.linkedin.com/in/sandykory/ 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://twitter.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital Watch on Youtube: https://www.youtube.com/@Delphi_Digital DISCLAIMER This 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.

    1 h 35 min
  2. Samed Düzçay: Accessing Institutional Yield Strategies at Tori Finance

    5 mai

    Samed Düzçay: Accessing Institutional Yield Strategies at Tori Finance

    Join Yan Liberman and Can Gurel as they speak with Samed Düzçay, founder of Tori, a yield protocol bringing institutional-grade delta-neutral strategies on-chain. Samed shares his journey from mining Bitcoin as a child to building and exiting a successful SaaS company, eventually identifying a massive gap in the stablecoin yield market.  They dive into the mechanics of the "carry trade," exploring how Tori captures spreads in emerging markets while hedging out local currency risk. Samed explains the protocol's multi-layered security approach, its real-time auditability through ZK-proofs, and how tokenization unlocks yield-enhancing "loops" that were previously impossible in traditional finance.  💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔 🧠 Follow the Alpha ▸ Yan's Twitter: @YanLiberman ▸ Can's Twitter: @cannngurel ▸ Sam's Twitter: @eth_nox 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://twitter.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital Watch on youtube: https://www.youtube.com/@Delphi_Digital Timestamps 00:00 — Samed’s background: From mining BTC to SaaS exits  03:00 — The yield gap: Why recycling crypto-native capital isn't enough 04:45 — Carry Trade 101: Borrowing low, lending high  06:30 — Covered Interest Parity (CIP) and why spreads still exist  09:30 — Security of the hedge: Counterparty risk and credit risk  12:30 — Tail risk scenarios: How hedged positions survive 30% currency drops  15:30 — Execution Mandates: Why Tori separates design from implementation  20:30 — The "Access Edge": Why you need an 8-9 figure balance sheet to play  23:45 — Tokenomics: The two-token model (T-R-U-S-T and receipt tokens) 26:30 — NAV Oracles vs. DEX Market Price: Preventing debt spirals  31:30 — Transparency: Real-time on-chain balance sheets via Accountable 35:30 — Unwinding scenarios: Fixed yields vs. new capital risk  41:30 — Lessons from Drift, Resolve, and AU hacks  46:30 — Stress Tests: Handling mass exits and secondary market de-pegs 50:30 — The Drawdown Protocol: Reserve funds and redemption controls 53:30 — Roadmap: Ethereum mainnet launch and audits Disclaimer This 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.

    55 min
  3. Logan Jastremski: Solana vs Hyperliquid - Who Wins The Global Exchange Race?

    2 févr.

    Logan Jastremski: Solana vs Hyperliquid - Who Wins The Global Exchange Race?

    Join Tommy Shaughnessy as he speaks with Logan, Managing Partner of Frictionless Capital, about the high-stakes race to build a global blockchain-based financial system. Logan shares his updated thesis on why monolithic, high-throughput architectures like Solana are winning the battle for real revenue and trading dominance over modular designs.They dive deep into the "Global Exchange" vision, the physics of time-to-inclusion, and how innovations like Proprietary AMMs (PropAMMs) are redefining market making. Logan also explores the broader implications of AI, from the compounding power of Grok to the societal impact of a robot-led workforce.🎯 Key Highlights▸Analyzing the Frictionless chart showing that crypto apps on Solana are the fastest to reach $100M in revenue globally.▸ Why Logan remains bearish on the "incorrect" modular design and Layer 2 scaling solutions. ▸ How the speed of light and server location prevent current centralized exchanges from being truly global. ▸ A look at the next engineering frontier. ▸ The "crypto-native" evolution of order books that uses massive Oracle updates to eliminate stale quotes. ▸ Why Logan believes the market will split into either fully regulated exchanges or fully decentralized global engines. ▸ Why Elon Musk's Grok is positioned to be the smartest model over time. ▸ The "freaky" transition to humanoid automation and the potential for a 20-day "atom-moving" data center revolution.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Logan's Twitter: @LoganJastremski▸ Frictionless's Twitter: @FrictionlessVC🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://twitter.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital🎧 Listen onSpotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43QTimestamps00:00 — Logan’s return to Miami & Fund 1 vs. Fund 2 thesis04:00 — The $100M revenue chart and acting on alpha08:00 — Why throughput alone isn't enough: execution as the North Star 11:00 — Solana’s parallel execution and the 2021 NFT "gas wars" 13:30 — Being "bearish decentralization" for its own sake 17:00 — The Global Exchange vs. New York physics limitations 22:00 — Multi-Leader design: 20ms inclusion and regional information 30:00 — Blockchains as the leading indicator for price discovery 34:00 — Rebuilding modern finance: efficient 24/7 global markets 38:30 — The hollowing out of regional, non-KYC exchanges 42:00 — Estimating the $20 trillion daily global trading market 45:00 — From AMMs to PropAMMs: the crypto-native order book 52:00 — Hyperliquid vs. Solana: product-led vs. engineering-led 59:00 — Retail order flow and the "payment for order flow" win-win 01:05:00 — Timeline for the multi-leader world (2027/2028) 01:11:00 — Returning to fundamentals: cash flows and PE ratios 01:15:30 — Bullish Grok: the vector of compute and real-world atoms 01:21:00 — Automation anxiety: Uber, gig work, and surgical robots 01:26:00 — Dystopian gambling, inflation, and the Zillow reality 01:29:00 — Financing the $30k robotDisclaimerThis 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, se

    1 h 30 min
  4. Clay Robbins: Building Colosseum, Solana’s Largest Hackathon & Accelerator with 80,000 Participants

    19 janv.

    Clay Robbins: Building Colosseum, Solana’s Largest Hackathon & Accelerator with 80,000 Participants

    Join Tommy Shaughnessy in San Francisco for the first podcast from the new Coliseum office. In this episode, Clay Robbins, Co-Founder of Coliseum, discusses how his team manages the world's largest online hackathons and why they chose to double down on the Solana ecosystem.They dive into the mechanics of sourcing 80,000 builders, the transition from remote to a massive in-person accelerator, and the shift from an infrastructure-focused crypto world to a new era of diverse consumer applications. From sub-3-hour marathons to "grenade" interview questions, Clay reveals what it truly takes to survive and win in the arena.🎯 Key Highlights▸The Numbers of Coliseum▸Clay shares the endurance training secrets that helped him clock a sub3-hour marathon in both Oakland and New York.▸How Coliseum distills 2,000+ global submissions down to a cohort of 10–15 elite investments.▸Why Coliseum moved from all-remote batches to a 75-desk physical hub in San Francisco.▸Why Clay believes Solana’s performance is the only viable infrastructure for the coming "application era".▸Why the Coliseum team now over-indexes on high-agency founders.▸The 15-minute "pressure test" interview used to suss out a founder’s conviction and humility.▸A new funding vehicle designed for companies launching on MetaDAO.▸A look at grand prize winners like Unruggable and Ore.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Clay's Twitter: @clayrobbins ▸ Coliseum's Twitter: ‪@Colosseum‬ 🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:    / @delphi_digital  Timestamps

    1 h 8 min
  5. Nic Carter: Quantum Threatens $600B of Bitcoin

    9 janv.

    Nic Carter: Quantum Threatens $600B of Bitcoin

    Join Tommy Shaughnessy as he speaks with Nic Carter, partner at Castle Island Ventures, about his deep dive into the existential threat quantum computing poses to Bitcoin. After six months of intensive research and discussions with Nobel Prize-winning physicists, Nic breaks down why the "quantum threat" has moved from theoretical FUD to a material risk that the Bitcoin community is currently unprepared to face.They explore the "Q-Day" timeline, the vulnerability of Satoshi’s 2 million BTC, and the urgent need for a migration to post-quantum cryptography. Can Bitcoin’s rigid governance survive the most significant technical challenge in its history, or will sovereign nations and private firms reach the coins first?🎯 Key Highlights▸Why Nic stepped away from podcasts and TV to focus on precise technical writing.▸The 2025 Quantum Inflection: Why 2025 was a record year for quantum investment.▸The Trillion Dollar Bug Bounty: The "unsolvable" problem of Satoshi’s P2PK addresses.▸Why Bitcoin developers implemented Taproot without making it quantum-resistant.▸Defense in Depth for BTC: The technical hurdles of implementing post-quantum signature schemes and the potential for a mandatory "migration" period.▸How the U.S.–China rivalry mirrors the 1939 race for the atomic bomb.▸Applying maritime law to the potential "theft" of ancient Bitcoins by private firms like IBM or Microsoft.▸Scoring the Bitcoin core developers’ preparedness at a 1/100.💡 Want to stay updated with the latest in crypto & AI? Hit subscribe and the notification bell! 🔔🧠 Follow the Alpha▸ Nic Carter Twitter: @nic_carter🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter:   / delphi_digital  💼 LinkedIn:   / delphi-digital  🎧 Listen onSpotify: https://open.spotify.com/show/62PR1Ri...Apple Podcasts: https://podcasts.apple.com/us/podcast...Youtube:

    1 h 6 min
  6. Mike McCormick: AI Acceleration vs Risks, Funding Global Resilience, AGI scenarios, U.S. vs China

    09/10/2025

    Mike McCormick: AI Acceleration vs Risks, Funding Global Resilience, AGI scenarios, U.S. vs China

    Join Tommy Shaughnessy as he speaks with Mike McCormick, founder of Halcyon, about the urgent intersection of AI acceleration and safety. Mike shares his path from venture capital to launching a hybrid nonprofit–fund model focused on securing advanced AI systems. They dive into mechanistic interpretability, global competition for AGI, and what a safe superintelligence future could look like. Can we build superintelligence safely? How do we balance innovation with existential risk? And what happens to humanity when AGI arrives? Halcyon Futures: https://halcyonfutures.org 🎯 Key Highlights ▸ Leaving VC to focus entirely on AI safety and security ▸ Why Halcyon flipped the model: nonprofit first, fund second ▸ Multi-layered “defense in depth” approach to AI biosecurity & cyber risk ▸ The acceleration vs. safety debate — finding middle ground ▸ Good Fire case: career grants into interpretability research ▸ The 2×2 dilemma — speed vs. slowdown, centralization vs. decentralization ▸ U.S.–China dynamics and fast takeoff scenarios ▸ AI underwriting: how insurance can drive safety standards ▸ Founder-market fit and mission orientation in AI startups ▸ Risk, diffusion, and the uncertain path to AGI 💡 Subscribe for more crypto & infrastructure insights! 🔔 🧠 Follow the Alpha ▸ Mike's Twitter: @MikeMcCormick_ ▸ Halcyon's Twitter: @HalcyonFutures 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://x.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/ 🎧 Listen on Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082 Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q Timestamps 00:00 — Mike’s background & pivot to AI safety 03:00 — The realization: AGI could change everything 05:00 — Why VC wasn’t enough to solve the problem 06:00 — Halcyon’s hybrid model and early mission 08:00 — AI security concerns: misuse, bio, and control 12:00 — Defense in depth: pre-training → deployment 15:00 — The creativity vs. restriction trade-off 17:30 — Pause AI vs. Build Baby Build 20:00 — Speed vs. centralization: the 2×2 framework 24:00 — Good Fire: career grants & interpretability 27:00 — Writing to neurons: alignment and insight 30:00 — How insurance markets can enforce safety 36:00 — Mission-driven founders & conviction filters 44:00 — Geopolitical race: U.S., China, and compute 50:00 — Diffusion limits, adoption, and energy costs 57:00 — Mass unemployment and meaning after AGI 01:05:00 — What “winning” AGI means for humanity 01:12:00 — Critical thinking, sycophantic AI, and engagement traps 01:20:00 — UBI, adaptation, and new work paradigms 01:30:00 — Three AGI futures: scale, shift, or stall 01:36:00 — 20% catastrophic risk & asteroid analogy 01:40:00 — Final message: talent is upstream of everything Disclaimer This 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.

    1 h 42 min
  7. Connor Howe: Building the Onchain Execution Engine with Enso Network

    26/09/2025

    Connor Howe: Building the Onchain Execution Engine with Enso Network

    Join Ashwath Balakrishnan and Neel Daftary as they explore the future of DeFi infrastructure with Connor Howe, co-founder of Enso. After nine years of building in crypto, Connor has created what he calls "the shortcut to building on-chain applications" - a developer tool that abstracts away the complexity of integrating with hundreds of DeFi protocols. From powering Berachain's $3.1 billion launch to enabling developers to reduce build times from seven months to just days, Enso is positioning itself as the Unity engine for Web3. Enso: https://www.enso.build 🎯 Key Highlights ▸ Connor's nine-year journey from writing Solidity in Mist Wallet to building crypto infrastructure ▸ How Enso powered Berachain's $3.1 billion DeFi launch behind the scenes ▸ Reducing developer build times from 7 months to 1.5 days through abstraction ▸ Why crypto needs more apps (4,800) than blockchains (1,000+) for mass adoption ▸ The "fat engine thesis" - how abstraction layers will control blockchain routing ▸ Enso's upcoming network model: action providers, grafters, and validators ▸ The "Enso Drop" - accessing 370+ potential airdrops through network participation ▸ Security through simulation: 4ms response times vs industry standard 2.6 seconds ▸ Chain abstraction vs. application abstraction: the real path to user adoption ▸ Why product beats paper in crypto's current critical juncture 💡 Subscribe for more crypto & AI insights! 🔔 🧠 Follow the Alpha ▸ Connor's Twitter: @connor_enso ▸ Enso's Twitter: @EnsoBuild 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://x.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/ 🎧 Listen on Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082 Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q Timestamps 00:00 — Intro: Connor Howe, Enso co-founder 01:15 — Nine years building in crypto: from Bitcoin to Ethereum 03:00 — Early DeFi development challenges and the birth of Enso 05:00 — Chain abstraction vs. application abstraction philosophy 08:30 — Serving 8% of Web3's developer mindshare (2,250+ developers) 11:00 — Berachain's $3.1B launch: Enso's behind-the-scenes role 13:15 — AI agents, automation, and new use cases emerging 15:00 — Reducing build times: from 7 months to 1.5 days case study 17:30 — Security through simulation: 4ms response times 21:30 — Why we need products people actually want to use 23:15 — New developer onboarding trends and product directions 26:30 — The Enso Network: action providers, grafters, validators 30:00 — Self-service protocol integration and scalability 33:00 — Enso vs. Yearn comparison and strategy differences 35:15 — Network economics and fee distribution mechanisms 39:00 — Upcoming TGE and token utility design 41:00 — The "Enso Drop": accessing 370+ protocol airdrops 42:00 — Developer relations strategy: YouTube, universities, incubators 45:15 — Keeping developers away from crypto Twitter for innovation 47:15 — Fat protocols vs. fat apps: the abstraction layer thesis 51:30 — "Product beats paper" - crypto's critical juncture Disclaimer This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens

    53 min
  8. Austin Federa: From Solana Foundation to Double Zero's Fiber Revolution

    25/09/2025

    Austin Federa: From Solana Foundation to Double Zero's Fiber Revolution

    Join Alex Golding as he sits down with Austin Federa, Co-founder of DoubleZero, to explore how they're building permissionless high-performance fiber infrastructure that could revolutionize blockchain performance. Austin shares the technical vision behind creating a parallel internet for distributed systems, starting with Solana validators as their initial market. DoubleZero: https://doublezero.xyz 🎯 Key Highlights ▸ The internet bottleneck: why high-performance blockchains are hitting infrastructure limits ▸ Building a parallel internet with dedicated fiber, FPGAs, and multicast technology ▸ Proof of utility: weaponizing greed and capitalism for positive-sum network outcomes ▸ 16% of Solana network already running on testnet despite limited infrastructure ▸ Technical deep-dive: signature verification, packet deduplication, and jitter reduction ▸ Token economics and bandwidth contribution models vs traditional staking ▸ Long-term vision: replacing IP addresses with public-private key routing 💡 Subscribe for more crypto & infrastructure insights! 🔔 🧠 Follow the Alpha ▸ Austin's Twitter: @Austin_Federa ▸ DoubleZero's Twitter: @doublezero 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://x.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/ 🎧 Listen on Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082 Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q Timestamps 00:00 — Intro: Austin Federa and the internet bottleneck problem 02:00 — Building a parallel internet for distributed systems 06:00 — The Firedancer project and million TPS potential 09:15 — Technical architecture: fiber, FPGAs, and multicast technology 13:30 — Signature verification and packet deduplication explained 17:15 — Proof of utility: Shapley values and economic incentives 23:45 — Validator onboarding and network connection process 29:30 — Testnet success: 16% of Solana network adoption 33:15 — Latency, jitter, and bandwidth improvements explained 39:00 — Token economics: 2Z token and payment models 44:45 — Access models vs staking requirements for enterprises 51:30 — Validators.app badges and network transparency 59:15 — Governance roadmap: from mainnet beta to full decentralization 01:05:45 — Long-term vision: replacing IP addresses and DNS 01:09:15 — Lightning round: most misunderstood aspects 01:12:30 — Five-year vision: parallel internet for high performance systems Disclaimer This 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.

    1 h 15 min
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Conversations with Crypto Gigabrains. Hosted by Tommy, Co-Founder and Founding Partner at Delphi Ventures

Informations

  • Création
    The Delphi Podcast
  • Années d’activité
    2018 - 2026
  • Épisodes
    480
  • Classification
    Contenu explicite
  • Copyright
    © 2026 The Delphi Podcast
  • Site web de l’émission
    The Delphi Podcast

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