In an interview, Benchmark general partner Sarah Tavel elaborated on her views about the evolving crypto market for venture capitalists—and where the premier early-stage investor fits in a landscape crowded by multibillion-dollar funds and specialist VC firms.
She also talks about the prospects for decentralized autonomous organizations, the blockchain-based groups favored by crypto enthusiasts that allow members to buy a piece of the organization and vote on how it operates; where more-traditional startup structures play a role in Web3; Benchmark’s view of tokens; and VC Twitter debates. (Read related story: Benchmark’s Approach to Crypto Takes a Page From Web 2.0)