In this episode of Empire's Weekly Roundup, Jason and Santi are joined by Brett Winton, the Director of Research at ARK invest. We discuss the heated Uniswap fee controversy, token business models, DAO governance and the securitization of everything.

We also discuss ARK's unique investment strategy and crypto thesis. This is one special roundup.

Highlights include:

- How to play the current macro market

- The securitization of everything

- Coinbase's opportunity

- Potential business models for Uniswap

- Will DeFi fees go to zero

- The secret to diversification

- Brett's #1 consideration when hiring

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Follow Brett: https://twitter.com/wintonARK

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Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code EMPIRE250 to get $250 off tickets (Only available this week!)

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Referenced in the show:

ARK Invest

https://ark-invest.com/

ARK's Bitcoin Monthly Research

https://ark-invest.com/lp-bitcoin-monthly/

Howard Mark's Letter on being Unconventional

https://www.oaktreecapital.com/insights/memo/i-beg-to-differ

Lido Treasury Sale Proposal

https://research.lido.fi/t/treasury-diversification-2-part-2/2657

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(00:00) Introduction

(01:47) Where Are Interest Rates Headed?

(08:38) An Inevitable Movie Towards Financial Transparency 

(12:00) Three Revolutions Catalyzed by Bitcoin

(27:52) Ava Labs Core

(29:20) Coinbase and the Securitization of Everything

(41:48) Uniswap fee switch and token business models

(53:16) DAO governance and capital allocation

(59:12) How ARK assesses new investments

(1:06:01) Has inflation peaked, BTC as the reserve asset and more

(1:10:58) Why curiosity is Brett's #1 hiring criteria

(1:17:08) What ARK believes that many others don't (yet)

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.