This is Eric Golden and my guest today is Gary Coover. Gary spent 8 years building Samsung’s innovation arm, Samsung Next, before he was drawn into the Web3 world. Today, he is the Chief Operating Officer of Superlayer, a venture studio focused on building Crypto startups. We start this conversation by analyzing what went wrong in the industry over the past 2 years, and why Gary advocates “Burying the Rails”. We then talk about Superlayer’s attempt to build an economically sustainable and inflation-resistant token model within their products, Hotline and Trophy. Please enjoy my conversation with Gary Coover.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.

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Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.

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Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag 


Show Notes
(00:01:35) - (First question) - Things he got wrong while trying to launch his new business
(00:03:27) - His view on NBATopShots as an inflation failure versus a crypto failure
(00:05:48) - How his businesses differ from previously attempted token based companies 
(00:09:50) - Determining whether a founders business in capable of tokenization
(00:11:54) - He tells us why a token is necessary for these businesses to be successful
(00:13:52) - Examples of returning value to the wrong group of people
(00:18:32) - He explains how users pay for content on the platform
(00:19:33) - Using tokens for in platform purchases instead of centralized currency
(00:21:18) - How the inflation economics work behind the token model
(00:22:58) - Handling content on the platform that is deemed illegal or unethical 
(00:24:40) - Developing trust with creators that feel jaded from the past 
(00:27:00) - How he sees the business developing from a tokenless model to one with tokens
(00:28:46) - How he approaches building the right tokenized economic structure
(00:30:41) - The ability to charge by preference in either tokens or dollars
(00:32:58) - Pros and cons of not having control over market volatility 
(00:34:49) - Which of his companies are currently using token based currency
(00:37:48) - A look back at things he is proud he got right and still believes in
(00:40:28) - What he sees in the space today that gets him excited
(00:42:11) - What he is most excited to build over the next six months and six years
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Gary Coover: Designing a Sustainable Token Economy

This is Eric Golden and my guest today is CL207, also known as CL or Cat, one of the most popular anonymous accounts on crypto Twitter. I have followed him since I got into crypto and, like many, have always wanted to learn more about the person behind the account. CL is academically trained in chemistry and had no finance background before he began trading crypto. He made no money for 2 years but over time has evolved into an extremely thoughtful and intelligent trader.
We start this conversation with one of the weirdest and most fun back stories we've ever had on the show. We then dive deep into CL's trading journey and bring this process to life with examples. We end the conversation on a variety of topics like fashion, anonymity, virtual reality and more. Cat is a highly original and interesting thinker. Talking to him was an absolute blast. 

For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.

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This show is sponsored by OKX. Want to stop paying trading fees? You can now trade for free for two months with OKX. Over 20 million traders and institutions choose OKX when they want to trade. And you can join them by signing up at okx.com/landingpage/OKXtraderseries to start your two months of fee-free trading today.

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Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.

Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag 


Show Notes
(00:02:23) - (First question) - Who Cat was before he started trading crypto and where his avatar came from
(00:06:48) - Where his convictions came from to stick out trading crypto with no experience
(00:10:21) - Finding an edge using intuition and mentally quantitative processes
(00:12:53) - Putting together behavior and patterns to find market opportunities 
(00:14:49) - Where he would start to get a sense of the market if he stepped away for a while
(00:16:25) - His average holding period and whether or not he trades based on news
(00:18:13) - What his trading day looked like today 
(00:19:23) - His trading track record and how what he’s learned as changed his relationship with risk  
(00:22:07) - Never working a job and being risk averse after becoming successful 
(00:24:22) - Digging deep until you find an edge in the market 
(00:26:13) - Sources of information and where the most alpha is amongst them 
(00:28:02) - Whether or not narratives and chats have influenced his trading 
(00:29:17) - How his focus has changed as he’s accumulated wealth 
(00:31:33) - Having a passion for fashion and what captivates him about it
(00:33:41) - Thoughts on anonymity and the pros and cons of it in the digital age
(00:37:10) - Engaging with an avatar that has expressive emotions 
(00:39:21) - Becoming Twitter famous and befriending Edward Snowden
(00:41:59) - Whether or not he misses being a chemist 
(00:45:07) - Giving your kid money to trade online hoping they get rugged 
(00:47:35) - The Vision Pro and being incredibly bullish on virtual reality 
(00:55:24) - The crossover of meeting someone in a virtual world that you’re interested in 
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Web3 Breakdowns Transcript on Applepodcasts

Gary Coover: Designing a Sustainable Token Economy

CL: The Chemist Turned Crypto Trader