<\/p>\n
Chris Dixon, general partner at investment giant Andreessen Horowitz (a16z), says that the crypto industry may be approaching its \u201ciPhone\u201d phase of adoption.<\/p>\n
In a new interview with Laura Shin on the Unchained Podcast, Dixon references the evolution of the smartphone in the mid-2000s when the iPhone finally delivered a product that would eventually lead to mass adoption.<\/p>\n
After the iPhone caught on, Dixon says the smartphone industry reached a \u201csweet spot\u201d where a barrage of highly popular apps were all developed for mobile users within a short period of time, like Uber, Instagram and Snapchat.<\/p>\n
According to the investor, crypto hasn\u2019t yet had the same moment, but it\u2019s likely coming into view.<\/p>\n
\u201cI was there for the early iPhone application wave and what happened is, you had like a 13-year period of people trying to create smartphones. The iPhone came out in 2007, and smartphone innovation in Silicon Valley probably began 15 years before the iPhone like General Magic, there were a bunch of people trying to create smartphones in the 2000s.\u00a0<\/em><\/p>\n And then the iPhone came out, and it finally nailed the infrastructure, nailed the phone. And then there was like a year of flashlight apps, and then about a year later you started to see entrepreneurs entering and I was actually an active investor at that point. <\/em><\/p>\n If you look at the data, it was between 2009 and 2011 when almost all the top apps were started, meaning Uber, Snap, Instagram \u2013 they were all kind of in that range.\u00a0<\/em><\/p>\n And so at some point, you hit this kind of sweet spot in computing evolution and I don\u2019t think we\u2019re there yet, we haven\u2019t had our \u2018iPhone moment\u2019 yet in crypto, but I do think that a lot of signs point to it being in the near future.\u201d<\/em><\/p>\n