1000x
1000x is a show about the new age of finance, hosted by Avi Felman and Jonah Van Bourg two former hedge fund investors. We go everywhere the money is moving: crypto, macro, equities, AI, and the alternative assets most people only hear about after the trade is gone. The difference is that we've actually sat on trading desks and run real risk, so this isn't theory or hype. It's two people with genuine markets experience thinking out loud, taking real positions, and helpi
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Why The $30B Asset Manager Franklin Templeton Is Betting Big On Crypto
<p>Recorded live at the Out East Conference, Avi sits down with Seth Ginns, CIO of Franklin Crypto and formerly of CoinFund and Jennison Associates. Seth spent eighteen years in public equities before becoming a seed investor in Coinbase in 2012 and building one of the largest liquid crypto funds in the market. We discuss how the Global Financial Crisis is what pushed him into crypto, why he waited years for institutional custody before launching a fund, why he believes 2026 is the year crypto and traditional finance finally converge, what Tesla and Amazon taught him about betting on founders instead of...
MARKET UPDATE: Bitcoin Rally, Zcash ETF, Bessent Humbled, NVDA Earnings
<p>This week, with Bitcoin ripping 25% off the lows and NVIDIA earnings on deck, we break down why the market has flipped from fundamentals back to macro. We discuss the lockout rally and the two conditions that turned Avi bullish on Bitcoin and gold, why all roads lead to debasement, whether the Druckenmiller op-ed against Scott Bessent was actually an op, the history of the Bank of England trade and why intervention almost never works, the Zcash ETF launch and why the chart is setting up, why you should never take advice from someone who's never traded, how to pick...
What It’s Like Running A Billion-Dollar Market-Neutral Fund In Crypto
<p>Recorded live at the Out East Summit, Avi sits down with Evgeny Gokhberg, founder and CIO of Re7 Capital, one of the last market-neutral funds still managing serious capital in crypto. We discuss his decade in TradFi trading emerging markets — shorting Chinese real estate through Australian iron ore, trading Egyptian stocks after the Arab Spring, why he left a comfortable seat to "1000x" his career, the DeFi "aha" moment when crypto finally had real businesses to value, how Re7 earns yield by doing what banks do (market-making and lending, now on tokenized stocks like Nvidia), what a DeFi vault ac...
The ETF Pioneer Who Calls Narratives Before Wall Street
<p>This week, Avi sits down with Andrew Chanin, CEO of ProcureAM and founder of PureFunds, one of the best in the business at spotting narratives before the market catches on. We discuss how he launched HACK, the first cybersecurity ETF, just two weeks before the Sony breach, what it was really like market-making ETFs on the floor of the American Stock Exchange during the 2008 crisis, why the real edge is reading the documents nobody wants to read, the story behind the UFO space ETF, whether SpaceX is the only game in town after its IPO, the militarization of space...
MARKET UPDATE: FED Backstops The Yen, Metals Rip, And Neoclouds Rebound
<p>This week, we break down why the Fed and Treasury just moved to backstop the yen and what it signals about an increasingly state-controlled market. We discuss why you should only hold what the administration has "anointed," the quiet power grab away from the Fed and the end of forward guidance, why gold, silver, copper and palladium are ripping, why Druckenmiller says the single best trade is copper, whether crypto is finally worth buying again and why Robinhood is the best way to express it, why private wealth management is a scam, why the stock market now trades exactly...
Psychology, Value, and Data: How Santiago Santos Navigates The Markets
<p>Recorded live at the Selini Summit, Avi sits down with Santiago Santos, founder of Inversion and one of the best-performing managers in crypto, who famously sold the top in 2021. We discuss how growing up in Mexico and consciously erasing his accent shaped his high-agency approach, why crypto matters far more outside the first world than inside it, why being "marginally delusional" is how outsiders win, the investor letter he just sent shutting down his own crypto thesis, why he pivoted to buying boring cash-flow businesses and treating technology as orthogonal, why he may be the only fund manager who...
MARKET UPDATE: How Situational Awareness Blew Up, Will Rates Nuke Us, What’s Next?
<p>This week, we break down the biggest story in markets: the blowup of Leopold Aschenbrenner's Situational Awareness fund. We discuss whether Ken Griffin killed him or just showed up with the best bid, how an eleven-figure liquidation actually works behind the scenes, why going to the street to meet a margin call is like walking into a lion's den (and the Terra Luna call that proved it), whether the rate-hike comments were an orchestrated hit, why Avi is stepping into the memory dip now with Micron, Intel and SanDisk, the Korean "Squid Game" liquidation that wiped out millions of...
Ex-Palantir Analyst On The Inner Workings Of Intelligence & Markets In A World Of Socialism
<p>This week, Avi sits down with Alexander Good, founder of Post Fiat, former Palantir and essayist, for one of the most wide-ranging conversations we've had. We discuss how he built a trading edge by reading stocks through advertising data, the EA vs Booking pair trade, the "goldfish theory" of why attention is more predictable than the future, where the model breaks (and why it's happening to Michael Saylor right now), why he's bearish on Palantir as ontologies become less necessary, why AI won't make people useless but will take their jobs, his call that unemployment starts kicking in within...
Has Memory Bottomed?
<p>This week, with memory stocks down 30-40% from the highs, we ask whether memory has bottomed. We discuss why AI bailed out the everything bubble and why this bubble is different, the George Soros model of why a bubble comes back bigger the second time, why only 2.2% of US households pay for AI and why that means we're in inning one, the $26 billion Korean margin-call wipeout and what it tells you about sentiment, why nobody wins the US-China AI arms race except the components makers, the Saudi nuclear deal and looking where nobody else is looking, why the latest...
The Citadel Alum Reshaping The World Of Trading
<p>This week, Avi sits down with Vlad Novakovski, founder and CEO of Lighter, the on-chain exchange partnered with Robinhood. Vlad went to high school with Robinhood's Vlad Tenev, competed in the Physics and Informatics Olympiads alongside future Anthropic co-founders and Facebook's first CTO, finished Harvard at 19, and was recruited to Citadel by Ken Griffin himself. We discuss the Olympiad pipeline that produced half of Silicon Valley, what Ken Griffin told him about Bernie Madoff in 2004, why Madoff couldn't have happened on-chain, why he left Wall Street for Silicon Valley and then came back, how he pivoted his company and...
