Disagree. A16Z is the exception, not the rule (and I can only see 3 defi protocols in their portfolio: COMP, UNI, MKR). What defi projects has Sequoia invested

Disagree. A16Z is the exception, not the rule (and I can only see 3 defi protocols in their portfolio: COMP, UNI, MKR). What defi projects has Sequoia invested in? There are many VCs who are into crypto that have invested in smart contract platforms (i.e. ETH killers), but missed out on investing in the actual applications built on Ethereum (Defi protocols). The applications have heavily outperformed the ETH killers. USV is an example of this, pioneering the fat protocol thesis and completely missing out on actual applications. While there are SV based crypto companies like Coinbase, the majority of things happening in crypto happens outside of SV. Binance, FTX, Bitfinex, Bitmex, Bitstamp are all non US. Out of the top 10 defi projects, only 2 are SV based and the majority are non US based. In crypto SV is not the center at all, which is very different to the internet where SV is obviously the center