Albert Wenger



We have been writing about the importance of decentralized protocols going back to 2013. Since then a lot has happened, including a run up in the price of Bitcoin (and eventually other crypto currencies), the launch of Ethereum, the rise of ICOs and with them the funding of many new projects. And yet it feels to us that we are still in what Carlota Perez calls the “Installation Phase” of a new technology. That’s the period when a market attracts a lot of capital to help build out the necessary infrastructure.

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What we're thinking about

The Blockchain App Stack

An emerging architecture for decentralized applications on the blockchain's shared data layer.

USV Investment Thesis

The core ideas driving USV's investment decisions.

Digital Healthcare

How can the internet improve healthcare?


How do we make the big decisions that will determine success or failure?

Policy, Politics & Regulation

More than ever, what happens on the Internet intersects with law & politics.

Universal Basic Income

Unconditional basic income as a way to embrace automation and simplify benefits delivery.

Recent investments

Algorand is a scalable, secure and decentralized digital currency and transactions platform.
Stash is on a mission to provide all Americans with the education, tools and guidance needed to unlock their own financial opportunity.
Flip is the easiest way to sublet, get out of, or find a lease. Find thousands of flexible sublets in New York, Los Angeles, and San Francisco.
goTenna's mesh networking platform decentralizes connectivity to increase scale, resiliency & access.

Videos and talks

A Conversation with Fred Wilson

Purpose, Mission & Strategy: Making Hard Decisions Easier

Decentralization & The Knowledge Age