a16z Crypto operating partner: money flow is the moat, and crypto entrepreneurs have abundant opportunities

▤ Summary

The article highlights Jason Rosenthal’s view that money movement itself can serve as a moat for businesses. It argues that stablecoins and crypto rails let value move globally, instantly, and around the clock with programmable logic. The piece says many traditional financial services still leave room for compression in payments, custody, lending, FX, settlement, and market making. It also suggests that the same “money flow” model could extend into computing, GPU markets, AI training data, energy, robotics, space, and rare earths. The overall message encourages founders to design products and revenue models around where value flows rather than only around the application layer.

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