On an ordinary Friday night earlier this year, I was holding a whiteboard pen that was running out of ink, looking at the whiteboard in the office to think about how to design a product to better serve cloud companies and computing power providers in the decentralized computing network. Unknowingly, a seed was planted at that time.
1. Why make this change?
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“Life is not about answers but about experiences.
The mystery of life isn't a problem to solve, but a reality to experience."
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My decision to give up my role as an investor and start working on projects surprised many people who knew me. They all asked me, "Why?" The answer is actually very simple: investing is not my ultimate goal - starting a business is.
I started my first company right after entering college. At that time, I knew nothing about running a business - opening a bank account, marketing, social media management, etc. All I knew was that I wanted to try it, I believed it could work, and I saw the market demand. The process of going from zero to one was not easy, and the huge pressure and challenges made me question my decision several times. Looking back, persistence is victory. As the company gradually got on the right track, the development of all aspects was also steady and progressing - it only took three months to break even and gradually expand the scale.
AI calculated the missing pieces: "-fi"
As an investor over the past three years, I have had the privilege of supporting many outstanding entrepreneurial teams, witnessing their growth, and deepening my understanding of the industry in the process. I am a big fan of AI and am fascinated by the combination of cryptocurrency and AI. This curiosity has prompted me to explore the entire industry in depth and study companies in multiple fields such as application, data, models, computing networks, and infrastructure.
Through in-depth research, I found that there was an important piece of the puzzle missing in the market: "fi" (Financialization). I shared these insights with a friend, who saw the opportunity and took the initiative to connect me with Alex (@alex_yehya, now the co-founder of GAIB). Alex and I had a very good match in our views on the industry. In less than five minutes of communication on the first conference call, we had a strong resonance and decided to work together. With Alex's background in semiconductors and AI cloud, he has a deep understanding of the challenges faced by AI cloud companies, data centers, and other computing providers - the lack of "fi" in the AI and computing markets, and the lack of real returns in the cryptocurrency field.
When I first told Jun, my other co-founder and CTO, about this idea, he not only quickly understood my vision, but also keenly captured the huge market potential. With his deep experience in the DeFi field, he also clearly saw the role that blockchain can play in this market. So, we founded GAIB together to fill this missing puzzle in the AI computing ecosystem.
2. What do we want to do?
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“Lisan Al GAIB, the voice from beyond the heavens.
Lisan Al GAIB, the voice from the outer world.”
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We have one goal: to bring real cash flow from AI into crypto and break the snake chain (“returns must come from outside…” - @Vitalik Buterin).
As loyal fans of Dune, we named our company GAIB, which means "unseen things" or "future". This name covers the three core areas we focus on: GPU, AI and finance. In the AI era, computing power is a new type of currency, and GPUs are new assets that enable computing power currency. They capture most of the value in the AI supply chain.
However, the problem now is that computing power assets such as GPUs do not have a mature commodity market, which hinders users who want to invest directly in these high-value assets.
We want to break down those barriers.
By tokenizing GPUs and their earnings, we have created yield assets that can be directly invested in AI. On top of these assets, we have built a range of DeFi use cases to provide liquidity and financial services, including GPU-backed stablecoins, lending, options and futures, structured products, and more.
Through these innovations, we deliver substantial value to key industry parties:
For AI cloud companies and data centers: We help them raise funds and optimize capital structure.
For investors: We provide a channel to directly invest in GPU assets with attractive returns.
For AI users and companies: We can promote the growth of the computing power market to provide more computing power to meet more needs.
For the entire market: We fill a market gap by creating a computing power asset market, ushering in a new era of financialization of the AI ecosystem while bringing real income from AI to the crypto space.
Our vision is to transform GPUs and computing power into investable assets, build a bridge between AI and cryptocurrency, and unlock unprecedented opportunities.
3. Blueprint?
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“He who controls the power of calculation (spice) controls the world.
He who controls compute (spice), controls the universe.”
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AI is driving the technological transformation of the next era and is expected to become a super cycle after the mobile Internet and cloud era. According to a Goldman Sachs report, AI has the potential to drive global GDP growth by 7%, or about $7 trillion, in the next decade. GAIB is at the core of the growth of AI, RWA and DeFi, and is committed to becoming the financial infrastructure for the future of AI and computing.
Building a prosperous AI computing economy
If AI is the brain, then GPU is its heart. AI innovation is closely related to the development of hardware, and GAIB is committed to promoting the prosperity of the AI computing economy and accelerating the growth of the entire industry.
Our plan is:
Building financial infrastructure
Leverage this infrastructure to create tokenized computing power assets
Building DeFi use cases with these tokenized assets
In the process, bringing real AI cash flow benefits to the crypto ecosystem
Please spread the word. Keep buidling!
Acknowledgements
The transition from an investor to an entrepreneur is challenging, but it is also the most exciting part of starting a business - blazing a new trail. I am lucky to have a talented and like-minded team working with me to fight for the future of the AI and computing market.
Thank you to everyone who has supported me, including my co-founders, team, friends, investors, advisors, and everyone who has provided guidance, shared knowledge, or lent a hand during this journey. A huge thank you to you all!
Special thanks to:
Hack @hack_vc: @alpackaP, @ed_roman, @herbiefu and the rest of the team. They believed in us, provided valuable advice and support in the early stages, and led our round of financing
Faction @FactionVC: @BFATHIEH, @0xSamHarrison, @0xcb3, Tim, @Will_Leas and the team. They are not only die-hard fans of Dune and GAIB, but also show deep expertise in the field of AI and firmly believe in the potential of the computing market.
Hashed @hashed_official: @0xryankim, @danpark012 and the team, thank you for their trust in us. We are one of the few AI companies they have invested in.
L2IV @l2iterative: @klee_049, @weikengchen, @0xdenniswon and all the people at L2 Capital for supporting me in this new journey
Spartan @TheSpartanGroup: @LionelPek, @tommy182145, @SpartanBlack_1, @itzjustcal, @ericnicomedez and the rest of the team who never hesitated to support us
CMCC @CMCC_Global: @Hedwigcrypto @oneyenonly helped us expand our network resources
Animoca Brands @animocabrands: @0xAbcdave, @LuciusFang10, @MehdiFarooq2 introduced us to many strategic partners
MH Ventures @MH_Ventures: @Lincoln_MHV, @0xKDOT, @collectorofgems for their candid advice and extensive network
IVC @ivcryptofund: @clementality_, @AnnChien, JT, @tanakaakio and team
IDG Blockchain @IDGCV: Thank you Kiet and team for being our long-term supporters and introducing us to many opportunities in Vietnam.
Aethir @AethirCloud: Dan, @MRRydon, @JainKartik33, they are our powerful allies, friends and advisors in various fields
Near @NearFoundation: @markkmii, @Cameron_Dennis_, Dwayne, for supporting us in developing on the Near platform
@0xhopydoc @0xArhat helped write research reports and introduce partners
And more friends, partners, and investors:
@Presto_Labs (Glen, @stateroot), @J17Crypto (@0xsky404, @RH__0729), @280capital (@0xMetable, @0xCrabLegs), @AlyssaTsai (@PANewsCN), @benhwx, @BrianRetford, @CharlieHusats (@BitlayerLabs), @wordsforgot (@cytonic_com), @chriseyin (@plumenetwork), @chundamccain (@nucleusearn, @ionprotocol), @dlubarov (@0xPolygonZero), @EvansHuangfu, Gideon (Three Point Capital), @trackoor (@nubit_org), @Igalb77, @josietyleung (@milky_way_zone), @dappiokeeper (@ZeusnetworkHQ), @LucasKozinski (@RenzoProtocol), @mheinrich (@0G_labs), Nabeel (Three Point Capital), Rabia (@NuralCapital), @vanishree_rao (@fermah_xyz), @0x50so, @michaeljin_77 (@10kventure), @danie_kr and more
