Olaf Carlson-Wee – “The Greatest Wealth Transfer of Our Lifetimes”

Published on
December 21st, 2020
63 minutes

Olaf Carlson-Wee – “The Greatest Wealth Transfer of Our Lifetimes”

The Interview - Crypto ·
Featuring Olaf Carlson-Wee

Published on: December 21st, 2020 • Duration: 63 minutes

Olaf Carlson-Wee, CEO & founder of Polychain Capital, joins Real Vision senior editor Ash Bennington to discuss crypto investment philosophy, the emergence of new asset classes and network mining. Carlson-Wee describes how he views the crypto landscape and explains the way he classifies the various emergent asset classes within crypto. He touches on decentralized autonomous organizations as new forms of capital coordination tools and the utility provided by them. Filmed on December 10, 2020. Key Learnings: Olaf Carlson-Wee believes that crypto will trigger, "the greatest wealth transfer of our lifetimes." The emergence of new systems will allow for new ways of organizing capital. Carlson-Wee states that he strongly believes that the greatest value accrual will go to systems that are completely new, not simply those ported from traditional finance to blockchain for efficiency improvements.



  • AM
    Avici M.
    4 January 2021 @ 19:44
    Cant wait till part 3 of the interview with Olaf!!
  • RZ
    Richard Z.
    28 December 2020 @ 03:23
    Thank you Olaf and Ash for these highly insightful interviews. The concept of DAO's so well explained by Olaf, just scary to think how/if these can be restricted in anyway once running freely out there, especially with regards to content. YouTube, FB, Twitter, etc are all subject to some kind of regulation at their local jurisdiction. Ash will be good if RV will be able to bring on a specialist that will be able discuss this point. Thank you
  • SK
    Shane K.
    26 December 2020 @ 11:56
    Seriously on point! Thank you...
  • AS
    Angel S.
    25 December 2020 @ 17:31
    Thanks for doing this! I have never seen Olaf talk before apart from the first RV interview: IMO he is by far the most knowledgeable and articulated person in the Crypto space. Would be good to have him for Part 3 and more. Can you guys also talk about Smart Contract Platforms and the outlook for that space, ETH vs ETH competitors, etc.?
  • DM
    Dominic M.
    23 December 2020 @ 04:07
  • PD
    Peter D.
    22 December 2020 @ 16:56
    Olaf Carlson-Wee is one of the most effective communicators in crypto. He doesn't just look like an artist, he thinks like one. Great points made: 1. Best opportunities will come from new business models, not possible before. 2. The mortal threat posed by scaling issues on the Ethereum blockchain, 3. That BTC market cap. should equal gold, as being a base case. True, he does appear to have an artist's blind spot for math....and the law. But great thinking comes from combining tool sets. A special hat's off to Ash: you bring out the best in this guy. Watched both of his interviews. Twice.
  • TP
    Timothy P.
    21 December 2020 @ 18:19
    Budget Billy Idol is very optimistic. He doesn't touch upon the real problems with trust in a system that is rapidly pivoting towards Proof-of-Stake. "you don't have to trust anyone" -- oh my dear sir, you are going to learn an expensive lesson if you really believe that about anything built on ETH. As for the rest, its rote and all - so I give him credit for understanding it, but not so much for not extrapolating and seeing the larger picture. Decentralized exchanges are primarily used by degens that need to flip their bags into the next hottest altcoin pump, or those that are too lazy to use the bellweather to tumble their coins. Same thing with DeFi, the race to take as much as they can as fast as they can -- before someone comes along and exploits their garbage code and steals it. Its basically ICO's, except now you have centralized 'shim' tokens to do the swapping. Brilliant. Considering most alts are forked from Bitcoin to begin with, I'm not really concerned about dominance -- though I will add that using "marketcap" yet again in a crypto-based interview shows me that RV doesn't give a toss about looking like total noobs.
    • PU
      Peter U.
      21 December 2020 @ 21:32
      intersting counter
    • CD
      Chris D.
      21 December 2020 @ 22:08
      How long do you think it will be before Bitcoin smart contracts can compete with Etherium? My sense is that what matters is where the developers go, and there are more developers building on Etherium.
    • TH
      T H.
      22 December 2020 @ 01:17
      Timothy P, you lost all credibility with the first line. Might as well have stopped there and saved the energy, because few will take the rest of your post seriously.
    • TP
      Timothy P.
      22 December 2020 @ 04:09
      @T H. -- What's wrong? Billy Idol was a successful popstar of the 80's. Are you saying you don't think Olaf is successful? How sad.
    • TP
      Timothy P.
      22 December 2020 @ 15:43
      @Chris D - ETH contract language has a very wide attack surface. Its one of the major reasons the DAO "hack" occurred (it wasn't a hack, the language allowed for what happened specifically), and the reason that most DeFi projects have had funds stolen in a series of incidents that makes other debacles look minimal by comparison. Taproot is coming for Bitcoin, and in their tried-and-true manner they're not rushing into it. Multi-sig and timelock contracts are already possible, its just not widely advertised. I prefer the approach that strives to preserve value, versus moving forward at breakneck speed ignoring security risks.
  • BK
    Binyam K.
    22 December 2020 @ 14:09
    Thanks Ash and Olaf! Outstanding Discussion.
  • AW
    Andrew W.
    22 December 2020 @ 10:44
    I still have trouble seeing the value proposition of defi, dao, and the related ecosystem, other than being able to work around the need for a trusted entity managing the system within a regulated legal system. BTC solves a fundamental problem, which is that the state always interferes with the money system, a huge problem solved, as well as the scarcity proposition. All these other applications to me are just extremely unimportant. Practically speaking, nobody is censoring Facebook or Twitter -- they are choosing to do it themselves. The consensus for a decentralized Twitter could make the exact same decisions. Anyone can incorporate and sell shares of themselves, create exotic financial instruments to suit their needs within a legal framework that most countries provide, and make centralized exchanges compete for their needs that follow society's regulations. I need a practical example, a real world use case, just one, to convince me that any of this defi stuff requires the overhead of decentralization. Give me just one, other than money or a store of value (like BTC), and I'll easily debate why it doesn't need to be decentralized.
  • TV
    Tyrell V.
    22 December 2020 @ 06:21
    44mins in - the term you are looking for Olaf with unknown unknowns is Talib Nassim's work on black swans and making your decisions based on gaining from the chaos ie - making your decisions focussing on a certain domain (investment return for example) Anti-fragile.
  • vi
    vincent i.
    22 December 2020 @ 05:00
    Brilliant discussion ! Surprised Hive hasn’t been mentioned when talking about blogging/microblogging. Sorry if I missed it ;) Thank you very much for this interview
  • RM
    Ryan M.
    21 December 2020 @ 23:15
    Wow. This is one of the most interesting DLT conversations I've ever heard. Thanks so much for taking the time. Great questions.. and Olaf, this is the second time I've heard you in an interview, and I wish I could invest with Polychain Capital :) On the discussion regarding "higher costs" within the "Governance Tokens and Utility" portion of this video, I'm curious what you think of Solana. Unless I'm missing something, it will be the most scalable distributed ledger (both in terms of overall throughput and in terms of time to finality) for the foreseeable future. However, I'm a data scientist, not a layer-1 developer.. so my understanding of DLT scalability is limited. So, first off, I wonder if you agree that it is/will be the most scalable distributed leger? And if so, do you think Solana's security model, tokenomics, connections, network effects, etc. might allow for much greater adoption in the future? Thanks
    • CD
      Chris D.
      21 December 2020 @ 23:24
      >> I wish I could invest with Polychain Capital Agreed. More generally, why is it so hard to invest in the vertical crypto funds Olaf mentions?
  • MK
    Mike K.
    21 December 2020 @ 22:51
    Pretty sharp for a guy wearing his shirt inside out.
  • MO
    Master O.
    21 December 2020 @ 09:06
    Thank you for bringing Olaf back. His first video with him blew me away and this second one is even better than the first one. I'm sorry to say this Ash, but you, Raoul, and Santiago are interviewing fluff in the crypto space compared to this guy!
    • TT
      Tokyo T.
      21 December 2020 @ 11:25
      I think Ash is good though, he listens and tries to clarify points being made. He has progressed to a real talent during the last year. Good on him.
    • AB
      Ash B. | Real Vision
      21 December 2020 @ 22:51
      Thanks, Tokyo. Much appreciated.
  • CD
    Chris D.
    21 December 2020 @ 22:04
    Olaf Carlson-Wee and Caitlin Cameron are the best of RV. These two are super-smart and very clear at explaining complexities. More of both, please!
  • PU
    Peter U.
    21 December 2020 @ 21:30
  • CC
    Christopher C.
    21 December 2020 @ 20:45
    Olaf is a great communicator and synthesizer of all the different threads that are happening in the crypto space. It is very difficult to get your head around, but I think he gets it on a broad and deep level and that is pretty rare. What he is saying about DAOs being more revolutionary than people realize is 100% correct. Over the course of this decade, we will see game theory mechanics play out in DAOs that will shape and influence human behavior and communities. Unlike the social media monopolies, however, this will be driven by a myriad of different communities, each with their own governance style and mechanics. DAOs will turn out to be as influential on human history as the corporation was.
  • AM
    Alexander M.
    21 December 2020 @ 18:33
    Call it as it is. Superb interview.
  • MJ
    Marius J.
    21 December 2020 @ 18:27
    Can you do an Educational video on this one? Still some areas I struggle to understand. And, thanks for sharing!
  • TH
    Tyler H.
    21 December 2020 @ 17:25
    How excited does Ash get at the thought of 100x defi haha!
  • DC
    Dan C.
    21 December 2020 @ 17:13
    Great interview thanks for sharing
  • JG
    JAMES G.
    21 December 2020 @ 17:07
    Amazing to have access to Olaf and those like him in the space. Another terrific interview.
  • DK
    Deepak K.
    21 December 2020 @ 13:30
    Do we have a transcript for this interview?
  • RF
    Roman F.
    21 December 2020 @ 12:02
    Super interesting! Especially Olafs ideas what final products base on blockchaing are going to look like
  • TZ
    Toomas Z.
    21 December 2020 @ 09:01
    Olaf gives some great insights on the whole space, his last interview was just as good. Looking forward to having him back to help us navigate/understand the space as it develops.
  • AL
    Aaron L.
    21 December 2020 @ 07:32
    Ash, this interview was amazing!! These are the types of discussions that need to be had. The guy is a total brain and can explain his views so well. Please make him a regular and as I said before, if you have more questions then keep the camera rolling! Awesome stuff mate, cheers