🠈  Medici Ventures  🠊

Medici Ventures

Medici Ventures is a private equity fund started by Patrick Byrne of The fund concentrates on emerging blockchain companies.

While creating, Mr. Byrne had many negative encounters with corruption on Wall Street which he detailed in a presentation called Deep Capture. The presentation tells of systemic corruption on Wall Street.

Wall Street uses an antiquated clearinghouse model to process trades. When one buy stock through a broker, the stock does not immediately change hands. What happens is the buyer places a purchase order. The seller places a sell order. The orders goes through a mysterious closed process at the exchange.

This process is corruptible. Mr. Byrne concentrated on a phenomena called a "naked short." A naked short happens when someone sells stock that doesn't exist.

Medici Ventures in making investments in blockchain technology which might create an alternative mechanism to Wall Street to trading securities. Oddly, the company is named after the Medici family which was a corrupt banking family that caused the failure of the Florentine Republic.

I accessed the site in December 2018: This is a list of companies in which Overstock has invested. The size of the investments vary:

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