AI and distribution moats are forcing investors to separate real business transformation from crypto’s unresolved value-capture problem.

This week, Jason and Santi discuss what months of researching crypto adoption taught Inversion, why the firm's investment strategy is evolving, and what it reveals about where value is actually being created today.

They also explore Robinhood's onchain strategy, whether AI is delivering stronger returns than crypto in traditional businesses, the debate over token versus equity value capture, and how the next generation of consumer finance is taking shape. Enjoy!

TIMESTAMPS:

00:00 Intro

03:15 Inversion’s Crypto Thesis Reset

06:17 Where Crypto ROI Breaks

11:58 The Distribution Quality Trap

17:12 Inversion Broadens Its Mandate

22:02 Crypto’s Value Capture Problem

28:00 AI Rewrites Company Workflows

31:45 Ads (Peaq)

33:01 AI Pricing Hits The Limit

39:09 Robinhood Chain Takes Off

48:07 Regulatory Arbitrage Goes Onchain

52:35 Finance For The Next Generation

57:02 The Token Equity Debate

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Santiago – https://x.com/santiagoroel

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

Robots will soon outnumber humans onchain. peaqOS turns them into a new trusted liquid asset class, with yield tied to real-world workloads. It gives robots all they need to do business on any chain — and lets humans earn from automation.

Explore the Machine Economy: https://peaq.xyz

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.