There are few things as old as financial catastrophe, except maybe finance. But in the latest fiscal meltdown in Greece, people started asking questions about whether newer technology -- bitcoin and the underlying blockchain -- could help. One of those was Wall Street Journal columnist Christopher Mims. In this episode of the pod, Mims and Coinbase CEO and co-founder Brian Armstrong talk about the current state and future possibility of bitcoin and the bitcoin blockchain. When it comes to Greece -- or the next financial snafu -- Armstrong and Mims think there is potential for bitcoin to help, but some education and UI mainstreaming needs to happen first. The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments and certain publicly traded cryptocurrencies/ digital assets for which the issuer has not provided permission for a16z to disclose publicly) is available at https://a16z.com/investments/. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.

Why do so many-government led efforts to build the next "Silicon Valley" in one geography or another fail? Is it misguided to even try? But then what does make such innovation clusters work? In this segment of the pod a trio of expert guests -- AnnaLee Saxenian, Dean of the UC Berkeley School of Information and a longtime researcher/observer of regional competitive advantage; VC Brad Feld and writer on startup communities; and entrepreneur and investor Christopher Schroeder, who covers startups rising in the Middle East and most recently wrote about the tech phenomenon in Iran -- tackle the question of how innovation ecosystems grow. The discussion delves into how innovation is being spurred differently (or stifled) in places like China and Iran; whether there are cultural differences in attitudes for failure or about entrepreneurship; and if regulatory arbitrage is one way for regions to get ahead.