a16z Crypto Operating Partner Jason Rosenthal posted on the X platform that cash flow is the moat. The best companies often establish themselves by placing themselves in the “cash flow,” and cryptocurrency is the first modern technology born for this purpose. If your startup has not designed its products and business models around these principles, you will miss a great opportunity. Thanks to stablecoins, funds and value can now flow at the speed of the internet—global settlement, 24/7 uninterrupted, with end-to-end programmability.

Railway companies do not make money from locomotives, but from every ton of goods that pass through the tracks; companies like Visa and Jane Street are all part of the cash flow. Cash flow combined with…