Jin Kang

Learning how to think | @princeton

[Jin Kang @TheJinKang]

Happy New Year! What a tumultuous & humbling year but wanted to share what I did in 2022 😅

Personal 2022 Recap 🧵
1. Quit private equity
2. Led early-stage crypto investing at @Globalcoinrsrch & invested in 20+ projects
3. Had no physical address as a nomad for the year

/1

[Jin Kang @TheJinKang]

The fact that @blcknoiz_06 still dictates the memecoin market tells you why no one takes the crypto market seriously. $ANSEM? seriously?

[Jin Kang @TheJinKang]

People don't seem to understand that most hedge funds in the US have missed out on the memory cycle.

They didn't properly size their conviction in the past six months and with this sudden wind down, I imagine most funds will start loading up names like $MU $SNDK

[Jin Kang @TheJinKang]

@zerohedge Do you understand what capex is?

[Jin Kang @TheJinKang]

Market initially thought $META entering cloud business was bearish for memory 😂

AI arms race is official. No hyperscaler will cut back on capex unless there is a black swan event that fundamentally breaks the largest businesses in the world.

[Jin Kang @TheJinKang]

@Rewkang @RoboStrategy Didn’t you already unload your shares of $BOT for the IPO?

[Jin Kang @TheJinKang]

@aleabitoreddit @Rewkang is a dumpster master

[Jin Kang @TheJinKang]

$SNDK spinoff from $WDC looking like
$PYPL spinoff from $EBAY

It is crazy how $WDC management did this spinoff right before the "AI trade" and now $SNDK has a larger market cap than $WDC.

[Jin Kang @TheJinKang]

@jbahrdestefano @RogoAI @kleinerperkins Meant to say 60%+ but Series D and team holds close to 30% is definitely dilutive…

[Jin Kang @TheJinKang]

Why would you buy $PSUS when @BillAckman and team have been buying large blue chip companies for their book (vs. contrarian / growth names that haven't taken off).

They missed semi / AI plays in the past few years.

[Jin Kang @TheJinKang]

@0xamericanspiri With all due respect, Korean pastries are best-in-class and Korean bread making is also top-notch but bread quality is not there yet

[Jin Kang @TheJinKang]

@HadickM Where does value accrue for companies built using stablecoins? Don't they have similar economics as traditional fintech players? Good that they are using "crypto" but they really aren't crypto

[Jin Kang @TheJinKang]

@firstadopter Shows you how broken equity market is

[Jin Kang @TheJinKang]

@soona @0xZergs You realize the price is up due to short squeeze vs. fundamentals?

[Jin Kang @TheJinKang]

@guywuolletjr You can’t compare a startup that is not public with crypto protocols that launched tokens. Tokenholders are essentially shareholders and if they don’t see any value accrue to tokens, game is over.

[Jin Kang @TheJinKang]

Which L1 chain has the most professional / institutional-friendly BD/partnership team?

Hot take: BD team @solana is definitely hustlers but there is no way these guys are dominating the institutional game.

[Jin Kang @TheJinKang]

@cryptopunk7213 Stick to crypto as you clearly don't understand the power of distribution and enterprise sales

[Jin Kang @TheJinKang]

All these early stage VCs are going to all-in on a few late stage companies like OpenAI and Anthropic and dump on retail and asset managers when they IPO.
VC bros are officially crypto bros 😂

[Natasha Mascarenhas @nmasc_]

Scoop w/ @EdLudlow: Sequoia has raised ~$7 billion for its second expansion fund, a vehicle dedicated to the latest stage companies in technology

https://t.co/ylT4lyWgbw

[Jin Kang @TheJinKang]

@JaredKubin Clearly this aged well

[Jin Kang @TheJinKang]

@JaredKubin If the peak EPS is $36/qtr, do you think $sndk is a $130B+ market cap company that sells ssd?