博链BroadChain learned that at 11:16 on April 23, Cobie recently shared his observations on the crypto industry in a podcast, pointing out that the industry is showing a "K-shaped divergence." On one hand, infrastructure such as stablecoins and prediction markets has made significant progress in the real world; on the other hand, these successes have not translated into rising prices of publicly accessible tokens for ordinary investors. He cited the example that Polymarket is developing well, and stablecoins have become important infrastructure, but the public finds it difficult to profit by investing in the equity of these projects.
Regarding the future of DeFi, Cobie expressed concerns about AI technologies like Anthropic's Mythos model, believing they could transform DeFi into a "financial bounty system," forcing the industry to transition to DeFi 2.0. He also noted that AI is changing the entrepreneurial ecosystem, making it possible for individuals to start businesses and achieve significant success in a short period, and is reshaping the economic models for early employees.
Discussing market participation, Cobie believes that the unfairness in the private market is like "the promise of capitalism being broken," while the public market increasingly resembles the "last provider of liquidity." He advised investors that if they firmly believe in the long-term value of the industry, they should allocate assets according to their own judgment; if they have lost faith, they should consider leaving. Regarding market volatility, he said he feels excited during significant downturns because they provide opportunities to buy assets from involuntary sellers.
Regarding his personal situation, Cobie revealed that he once offered to join Coinbase for free and was even willing to receive zero compensation, but his offer was not accepted. He believes that driving Coinbase's development is one of the few levers that can substantially change the trajectory of the industry. As for the non-return of his well-known podcast UpOnly, he attributed it to "second album syndrome," changes in the market environment, and personal mindset adjustments, believing that a better timing is needed.