Devin Baker @devbakes

@__comma__ | A new-paradigm crypto fund investing at the frontier of community, technology, culture, and capital. comma.partners DUMBO, NY Joined August 2021

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Erik Voorhees @ErikVoorhees

2 days ago

x.com/i/article/2072…

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Crypto pessimism feels like ATH In these moments I go back to first principles. A decade ago, I wasn’t excited about crypto because of prices or memes. I was excited by open systems, programmable money & digital ownership. Those ideas are finally materializing. Most people haven’t experienced them yet.

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Devin Baker @devbakes

2 weeks ago

Our May memo. We're at historically attractive levels for long-term crypto buyers. We think we're at a turning point.

Comma Partners @comma

2 weeks ago

Crypto has been weak, and consensus has become cautious. The market expects sticky inflation and slowing growth. We’re seeing a potential turning point, with odds of a goldilocks regime are higher than expected. Turning points rarely announce themselves. Are we at one?

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Devin Baker @devbakes

2 weeks ago

@ryanconnor Agree it won't kill frontier monetization, but will fragment the market Which moves value on the margin to those allocating intelligence, helping people + businesses navigate the fragmented intelligence suppliers

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Devin Baker @devbakes

2 weeks ago

@davidfeiock Thanks man

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Devin Baker @devbakes

2 weeks ago

Crypto will be key for the demand side of intelligence. Market structure and coordination tech for agents. Crypto is the most fascinating movement on earth. Most people aren't even paying attention.

Comma Partners @comma

2 weeks ago

To invest in the future is to believe that things can be different, and to go where most people don’t see it yet. The most interesting ideas are still emerging. Discover the film at the link in bio.

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Devin Baker @devbakes

2 weeks ago

The whole AI trade thus far has been about the supply side of intelligence. The whole demand side of intelligence is still to play for. Crypto will be key for the demand side of intelligence. Market structure and coordination tech for agents. Crypto is non-consensus.

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Devin Baker @devbakes

3 weeks ago

Using Fable to understand the implications of Fable being banned

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Devin Baker @devbakes

3 weeks ago

This is "why crypto"

Anthropic @AnthropicAI

3 weeks ago

The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees. The net effect of

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Devin Baker @devbakes

3 weeks ago

Most people think crypto is competing with banks. We think it's the coordination layer for the AI age.

Comma Partners @comma

3 weeks ago

Most people think crypto is just about finance. We think it’s about something much bigger. Discover the film at the link in bio.

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Dear World @dearantlers_

3 weeks ago

"You're allowed to think about the worst case scenario, but you gotta do something about it"

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Devin Baker @devbakes

3 weeks ago

Most people think crypto competes with banks. It's actually the coordination layer for the AI age. AI is creating a new computer - where agents think. Crypto is the new network - where they own, pay, & verify. AI pulls crypto forward. Crypto gives AI its market structure.

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Devin Baker @devbakes

3 weeks ago

@sariazout !!!

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Devin Baker @devbakes

3 weeks ago

Everyone agrees on two things right now: AI is alive, and crypto is dead. They're missing the point. We’re entering crypto’s third phase. Phase 1 was money. Bitcoin took on a system that had calcified over thousands of years. Profound progress, but an uphill battle. Phase 2 was networks. Ethereum took on platforms that were already dominant and misaligned with users. Still profound, but still uphill. Phase 3 is intelligence. And this time the dynamic is reversed. AI is the first transformation of this scale to arrive after crypto already exists. We’re not retrofitting rights and markets into a world that’s already set - we can build them in from the start. Here’s what everyone is missing: - AI doesn’t resist crypto the way money and networks did. It pulls it forward. The more capable AI becomes, the more it needs what only crypto provides - neutral infrastructure for discovery, routing, settlement, identity, reputation, permissions, governance, and ownership. - The internet created the largest information market in history and produced Google. - AI is creating the largest intelligence market in history. - Crypto makes this new market work way better. The market for intelligence does not yet have its Google.

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Devin Baker @devbakes

a month ago

Our April memo. The bond market's back in charge, just like 2025. I think the right tail's getting underpriced here.

Comma Partners @comma

a month ago

April felt familiar - it rhymed with 2025. Inflation up. Rates breaking out. The bond market back in charge. But beneath the pressure, liquidity is rising, growth remains strong, and structural crypto catalysts continue to build. The left-tail risks are well discussed. The

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Merlin Egalite 🕛 @MerlinEgalite

a month ago

It's sometimes hard to believe that crypto actually has a positive impact on our world given the number of scams, hacks, insider trading, etc. It's true, from time to time I personally wonder whether this is a legit space. And then I remember that this is the only tech that: - provides basic financial access to everyone on earth with just an internet connection - brings back power into the hands of end users - removes intermediaries that only capture value but don't create any - brings back transparency in a system that is a black box etc. So yes, crypto sometimes has a bad look, but it's a critical piece of technology that must be developed. And it's critical that great teams with high agency and strong values continue building in that space no matter what the general opinion thinks. Someday we'll realize that crypto's positive impact will have been dramatically overlooked.