The founder of Silicon Valley VC firm Draper Associates feels global economic recovery will likely be L-shaped, with a long upward movement, like after the dotcom crash Tim Draper, founder of VC firm Draper Associates and a Silicon Valley investor, believes India has the potential to dominate the fintech, cryptocurrency, blockchain and smart contract markets if it fosters supportive policies, invests in world-class infrastructure and promotes entrepreneurship. During a recent visit to India for his show, ‘Meet The Drapers’, the third-generation venture capitalist who has invested in companies like Tesla, Baidu, Skype, Robinhood, SpaceX and Coinbase discussed with ET’s Vinod Mahanta on topics including the evolution of the Indian startup ecosystem, misgovernance in startups and why Indian regulators should change their views on crypto. Edited excerpts: The Indian government is all for banning cryptocurrency and is taxing it heavily. Should it change the mind on crypto? I believe that China, under President Xi, has decided to shut itself off from the world economy, and this presents a huge opportunity for India to position itself as a free and open country. However, if India were to eliminate or regulate cryptocurrencies with a heavy hand, I fear that they would lose […]
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