Photo of Chris Dixon by Getty Images. Art by Mike Sullivan
Oct. 11, 2022 6:00 AM PDT

This summer, venture capitalist Chris Dixon settled down for a dinner conversation about politics, startup investing and the economy with business and entertainment executive Michael Ovitz at Ovitz’s 28,000-square-foot Beverly Hills mansion. At one point, the conversation shifted to a topic Dixon knows intimately: cryptocurrency.

Dixon—the leader of crypto investing at Andreessen Horowitz—had just helped raise the firm’s latest multibillion-dollar slug of cash dedicated to blockchain startups, a category of companies that was suddenly engulfed in grim news. The price of Ethereum’s coin was about three-quarters off its high last year, financial regulators were swarming around the sector, and entrepreneurs and investors had begun buzzing about a “crypto winter.” Dixon seemed unfazed by the turmoil, said Ovitz, who has been friends with Dixon for about a decade and a longtime adviser to Andreessen Horowitz.

“I will call him consistently, and if there’s some terrible headline, I’ll joke with him, ‘How are you feeling about crypto now?’ But he hasn’t wavered once,” Ovitz told The Information in an interview. “He doesn’t react. He just calmly says, ‘Nope, still long.’”

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Data Point google
Where Google Has Grown
Alphabet has doubled the headcount in its Google Cloud unit since early 2019, according to data obtained by The Information, outstripping Alphabet’s overall hiring growth. The rapid growth helps explain why Google Cloud’s losses continue to widen even as its revenue grows rapidly. Google’s hardware unit and YouTube also each roughly doubled headcount between the first quarter...
Latest Briefs
 
Crypto Lender BlockFi Files for Bankruptcy
Yahoo Takes 25% Stake in Taboola in Ad Partnership
U.S. Bans Sale of Telecom Equipment from Huawei, ZTE
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Art by Clark Miller
The Big Read
‘I’m Licking My Chops. I Know It’s Going Down’: The Pissed-Off Crypto Traders Who Predicted—and Profited From—the FTX Implosion
Ishan Bhaidani had been patient for over a month, waiting for blood in the water. Now was his moment.
Sequoia Capital's Alfred Lin. Photo by Getty Images
FTX Collapse Tarnishes Sequoia’s Reputation, Prompts Apology
Sequoia Capital’s Alfred Lin made a name for himself as a loyal confidant to the tenacious, often-doubted founders of companies like DoorDash and Airbnb, a commitment that helped catapult him to the No.
Sam Bankman-Fried. Photo by Bloomberg.
The Takeaway crypto media/telecom
The Press Failure That Led to FTX
As the crypto currency contagion spreads, there is a tough truth about the press’s role in the crisis that is becoming crystal clear.
Art by Clark Miller.
Gift Hunting culture
The Information’s Top Tech-Adjacent Gifts for 2022
After the roller-coaster ride of the past month, everyone needs a little retail therapy. So, in honor of Black Friday and the upcoming holiday season, we’ve put together our annual gift guide, asking The Information’s staffers to share their favorite tech and tech-adjacent purchases of the last year.
Bob Chapek via Bloomberg
Opinion entertainment media/telecom
It’s Not Just Disney
Parqor is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here .
Alfred Lin. Photo by Getty Images.
Dealmaker venture capital
The Star Sequoia Investor Behind FTX’s Collapse
Last week, Sequoia Capital partner Doug Leone compared FTX’s blowup to childbirth. “Like having a child, you forget the pain of having that child three months later, a year later,” he said on stage at a conference in Europe.