저자: LarryFink · 외국인
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결론: 래리 핑크는 FTX 관련 손실을 판단 유보하면서도 토큰화와 벤처 투자 구조 변화에 대해서는 장기적으로 긍정적 전망을 제시했다. FTX 투자 및 실사 관련: 블랙록은 FTX에 펀드오브펀드를 통해 2,400만 달러를 투자했으나 핵심 사업이 아니었다고 설명했다. 벤처캐피털 실사가 문제였는지에 대해서는 사실 관계를 더 지켜봐야 한다며 추측을 피했다. 벤처 투자 모델: 벤처투자는 50건 중 40건이 실패하는 구조라 완벽한 실사보다 소수의 대박을 노리는 모델이라고 설명했다. 앞으로는 음식 배달 같은 기업보다 탈탄소, 과학 기반 기술, 농업 기술 등 하드사이언스 쪽으로 벤처 자금이 이동할 것이라고 전망했다. 크립토 평가: 대부분의 크립토 기업은 살아남지 못할 것이라고 봤고, FTX는 분산원장이 아닌 폐쇄형 구조였다고 비판했다. 그럼에도 블록체인 기술 자체는 중요하다고 평가했다. 토큰화 전망: 차세대 증권 시장은 증권의 토큰화가 될 것이며, 분산원장으로 실시간 결제와 중개자 축소가 가능해 수수료가 더 낮아진다고 주장했다. 신탁은행 등 중개 구조가 바뀔 수 있다는 점도 언급했다. ETF 관련: ETF가 투자 방식을 바꾸고 있으며 채권 시장도 ETF로 변화 중이라고 설명했다. 출연자 전망: 특정 종목이나 자산 가격 방향에 대한 1~3개월 예측 발언은 없었고, 장기적 구조 변화에 대한 견해만 제시했다.
다듬은 글
chairman and CEO of BlackRock Larry Fink Larry Fink is here and of course oversees what is now I want to say about almost about eight trillion dollars give or take there was a period which was about 10 trillion dollars I want to thank you for being here because you've been on this stage now a whole bunch of times right we appreciate spending time with you we talked to the treasury secretary about crypto and as you know very well we're going to talk later to sandbankment Freed or so we think BlackRock had an investment in FTX 24 million dollars in a fund of funds 24 million dollars yeah it was it was in a situa it was not in the core part of our business okay so what do you what do you think happened there and and then I want to talk about the diligence piece of it because part of what's Happening Here is there's a lot of people questioning all of these fancy firms that everybody looked at Sequoia you others a lot of people invested in this company and it appears that nobody was minding the store well I think people reminding the stories the question is you know I'm not we're gonna have to wait and see and how this all plays out I mean right now we can make all the Judgment calls that it looks like there were some misbehaviors of major consequences uh uh you know I am I assume look at by the long if you look at the Sequoias of the world they've had unbelievable returns over a long period of time I am sure they did the due diligence could they have been misled because they've done other things could we have been misled in this small little Investments we did sure but until we have more facts I'm not going to speculate is it fair though to think about Venture capitalists as self-regulators if you will of these types of companies and the reason and look there's you know you can look at theranos and you can look at all sorts of companies and I don't we don't know what this situation is uh in front of us right now but it seems to me that in the Venture world the whole business model is actually not the due diligence the entire business model is you know out of 50 Investments 40 are going to fail and we know that in advance so the cost of actually diligencing this all out to Perfection may not even be necessary because what we're really doing is hoping that we hit just a couple of of grand slam home runs and that's just fine and that worked it probably is not going to work in the future because I don't believe we need another food delivery company I don't believe we need where some of all this money was going to go I actually believe we're more and more Venture Capital money is going to be going and more and more early investment is going to be fundamentally in decarbonization it's going to be a different science it's going to require really underwriting the science behind these entrepreneurs I'm visiting young entrepreneurs who are trying to do whether it's sequestration or a better way of of improving or improving farming by encoding seeds that already have the ability to create their own fertilizer to reduce fertilizer there are some amazing technologies that are being developed today so I actually believe we're going to be seeing a transformation of how where this money is going to go it's not going to go to all this stuff that maybe provided us good utility to get food quicker or find a taxi sooner but I actually believe it's going to be much more in hard science and it's going to require a lot more technical understanding has this changed your view of crypto at all you have you now have a deal with coinbase and yet you were always sort of also I think a bit of a skeptic of all this oh I actually believe most of the companies are not going to be around I still believe that I do believe because because they're now real they're frauds they're what well I mean think about FTX I mean you can look back now FTX created its failure was it's creating its own token it was not a defy it wasn't it wasn't a you know a ledger that was open to the world it was extremely pleasure right it was not distributed so the whole Foundation of what crypto is it's supposed to be distributed Ledger that is across the system I actually believe this technology is going to be very important I am I you know look at it we have been part of the huge revolution in investing through ETFs we believe that ETFs will be changing the whole way we invest many people still use it as a means while people are investing it for indexing no they're the majority of people were putting money in an index in an ETFs or active investors that are buying exposure the entire bond market is being transformed as we talk right now I believe the Next Generation for markets the Next Generation for Securities will be will be tokenization of securities um we will and if we could have that distributed Ledger that we know every beneficial owner every beneficial seller we all have our our code of who's buying who's selling instantaneous settlement and think about it changes the whole ecosystem you don't need Trust Banks but does that disrupt you eventually because you are custodian all this we don't no we're not a custodian we're not we don't just we use third-party custodians in everything we do in everything you do we don't we're not a custodian bank so you're so your goal by the way I don't know if he was technically like custodian either which is a separate issue I think they were I don't know if there was a real custodian in that closed Ledger but that's a whole other story uh you should ask them that question um uh no I I mean the transformation think about instantaneous settlement bonds and stocks um no middlemen we're going to bring down fees even more dramatically uh as for me I don't have to vote on any shares anymore because the beneficial owner will do all the voting they'll have it and that's where I want to go with this conversation I knew I was going to take you there thank you
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