Clear Street: From COBOL to the Cloud

Each word of this sentence represents hundreds of billions of dollars of legacy infrastructure that are being replaced by software.

Trying to imagine what will be built upon the coming deep liquidity bandwidth is as difficult as someone in 1995 with dial-up internet trying to imagine Netflix streaming videos to a mobile phone. The future innovation that deep liquidity bandwidth will unlock will be even more significant. 

Assess the potential and spot the openings:  “We spent a lot of time thinking about ‘What is the market for this?’ Spreadsheets have been around forever, but most of the time, people use them to track objects: people, companies, simple tables. They're not doing modeling and number crunching, which they were invented for,” says Ofstad. “And wh

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...trying heroically on a podcast to explain why putting one’s house “on the blockchain” might be better than the current system. Eventually, after much grasping and a bit of “these things could all be NFTs,” McCormick ended up more or less where he began. “You’ve just re-created the entire mortgage infrastructure that already exists today,” a host... See more

In contrast to VC - where over the past 30 years of software, there’s been a circular “we shape our tools, and then they shape us” coevolution around how equity works - this hasn’t happened for debt yet. We haven’t figured out the right atomic unit

Understand the fundamentals of building a crypto startup—from the enabling infrastructure, to applications, to business strategy and operational best practices.