CEO @Artemis | ex @InsightPartners @Whalerock @Publiccomps | Crypto / Fintech / Software Analyst
Joined March 2009
- Tweets 3,796
- Following 2,630
- Followers 14,580
- Likes 12,329
644 Photos and videos
Coinbase is the winner of AI-native finance.
We believe $COIN can be a ~$300B company (6x from today)
Artemis open sources the BEST Coinbase financial model using onchain data.
You can now build models like the BEST analysts.
We believe Coinbase is WINNING in stablecoins, agentic commerce – not just as a crypto exchange.
Here’s the core assumptions
> Stablecoin supply reaches ~$3T in 2031 (~US Treasury official estimates)
> USDC is 30% of stablecoin supply
> Agentic Commerce ~$7.5T in yearly spend in 2031
> Coinbase Agentic Commerce is able to monetize and captures 1bp of the entire TAM
> Net transaction revenue grows 11% CAGR
> Subscription & Services goes from 40% of total revenue to 65% of revenue in 2031
In our bull case, Coinbase does ~$23B revenue in 2031 with ~$10B of net income.
At 30x PE that assumes ~$300B of marketcap (6x from today)
Full 12 page thesis drops at 5pm ET 👀
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Robinhood just broke up with Bitcoin.
Here's the @artemis @NorthIslandVC thesis on why Robinhood is the winner of retail finance.
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Check out @stevenfiorillo piece on the AI buildout.
I love this line:
"The AI revolution isn't a trade that ended with the first wave of GPU buying. It's an industrial buildout that's still broadening, and the companies supplying chips, memory, optics, and power are the ones with the order books to prove it."
Jun 10
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Alex is a legend and one of the best investors in the world.
I had the good fortune of interning and working at @whalerock.
My favorite lesson from Alex: when building financial models keep them simple but not too simple.
Congrats on all the success 🐳 🪨
My conversation with Alex Sacerdote, founder of Whale Rock Capital Management.
Alex runs more than $17B and has been one of the best performing tech investors for years, though he keeps a low public profile.
As you'll hear, he is singular in how he thinks about investing through technology cycles.
For over 25 years, he has built his entire investment framework around a single idea, the S-curve.
We discuss:
- The AI L-Curve
- When to buy into an S-curve and when to sell out
- The de-commoditization of data center hardware
- Why he went net short software
- His two models for tech adoption
- Finding alpha
Enjoy!
Timestamps
0:00 Intro
9:55 AI's L-Curve
19:31 Whale Rock's S-Curve Playbook
26:14 Spotting Inflection Points
32:02 Finding AI Winners
40:04 AI vs Software
48:13 The Hardware Renaissance
58:04 Why Investors Miss AI
1:05:18 Whale Rock's Research Machine
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Best @tradexyz dashboard by the brilliant @zhengjielimm
Jun 5
check out our new @tradexyz dashboard!
- $3B in Open Interest
- #1 among HIP-3 deployers
- 60.7% of perp volume happened outside NYSE Hours (last 90d)
- 15.5% of perp volume happened when the Underlying Closed (last 90d)
check out the dashboard below 👇
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The best AI agent for scheduling is @blockitAI
They are 2nd to none. Super reliable, fast, and easy to use.
Would highly recommend to all founders.
Kudos @kaiskhimji
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Real-world asset tokenization is scaling rapidly on Provenance.
The Insights tab on @artemis provides some interesting data points to back it up.
Over the past quarter, Provenance has continued to accelerate across both TVL and lending activity, with daily lending loan balances recently reaching an all-time high of $19.18B 📊
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Why Google Just Raised $80 Billion and Why Bullish for the AI Trade.
By the one and only @stevenfiorillo.
My favorite line: "Berkshire as the value investor are all telling you the same thing that this is bigger and longer than the consensus models assume"
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The BEST damn Stablecoin Dashboard of all time 👇
BREAKING: The NEW Artemis Stablecoin Dashboard is live.
Stablecoins are becoming one of the most important markets in crypto.
So we built an updated way to track them.
Monitor supply, flows, and growth across tokens, chains, exchanges, and regions.
And now, with the new Compare tab, you can benchmark $USDT vs $USDC, Ethereum vs Tron, and more side by side.
The full stablecoin market, in one place ⤵️
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What are HF buying in Q1'26?
- TSMC
- GE Vernova
- Lam Research
- Applied Matis
- Meta
Get them all here: artemis.ai/flows
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Join one of the best global venture capital firms in the world.
@HadickM @TheOneandOmsy are two of the best venture capitalists I’ve ever worked with.
Would highly, highly recommend.
Jun 2
We are expanding our US investment team, looking for both early and growth stage investors, in NYC or willing to move. Looking to add both people with product/eng experience and those who have invested in fintech/SaaS/etc before. Come hang with myself, @tomhschmidt, and @TheOneandOmsy in Union Square if you want to spend all your time thinking about the future of finance.
Growth Stage: jobs.gem.com/dragonfly-caree…
Early Stage: jobs.gem.com/dragonfly-caree…
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One of the best thesis on $NBIS, $IREN, $CRWV and the opportunity in data centers.
By the best @Dr_Crossroads ❤️
May 31
I just posted a deep dive in data center opportunities, focused on perceived challenges in the space and the Three Titans: $NBIS, $IREN and $CRWV and their varied approaches, as well as some of the smaller opportunities in the space and why I'm not (yet) pursuing them.
The article is free at the link below. Enjoy!
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Steven is one of my favorite analyst in the world.
Contrarian take on why SaaSpocalypse is WRONG.
Give it a read!
May 27
I just wrote an article about the SaaSpocalypse and why I think the market is wrong on $CRM $NOW and $WDAY on @artemis. Please see below
artemis.ai/stevenfiorillo/ar…
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Get the MCP that rules them all for crypto equities.
Build the investment terminal of your dreams👇
🚨 BREAKING: 3000 equities and crypto:
1) financials (GAAP & non-GAAP)
2) earnings transcripts
3) IR presentations
4) analyst estimates
All in ONE place. Works with all your favorite AI agents
Get access now: form.typeform.com/to/xMhIvSG…
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Get the best portfolio tracker in the world 👇
May 15
one of my favorite parts of our Portfolio Tracker is seeing analyst consensus targets directly alongside my holdings
most portfolio trackers stop at:
“here’s what you own”
we wanted to answer:
“what does the market think about what you own?”
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When should you sell your stock?
Introducing CONSENSUS TARGETs.
Understand the upside or downside relative to analyst estimates.
For example if you hold $HOOD -- there's still 27% upside to Wall Street price target.
Massive kudos to @crystaltai for the ship 🚢
May 15
one of my favorite parts of our Portfolio Tracker is seeing analyst consensus targets directly alongside my holdings
most portfolio trackers stop at:
“here’s what you own”
we wanted to answer:
“what does the market think about what you own?”
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