Su Zhu
Co-founder and CEO of Three Arrows Capital (3AC), one of the most prominent crypto hedge funds until its collapse in 2022. Co-host of the Uncommon Core podcast alongside Hasu.
In art-of-trading-with-light-su-zhu-and-hasu (~October 2020), Su Zhu articulates an influential macro case for Bitcoin: that it is the dominant shelling point for crypto monetary coordination, and that Ethereum and altcoins are structurally disadvantaged because they fragment the coordination game and have narratives too complex to sustain broad belief. His application of the Lindy effect to Bitcoin adoption — that institutional players need a network that is "predictable" and whose rules are stable — became a durable framing in the Bitcoin-maximalism debate.
His ETH bear call in that podcast was directionally wrong in 2021: ETH went from ~$400 to ~$4,800 during the DeFi and NFT cycle before the structural concerns he identified began to bite.
3AC collapse (2022): Three Arrows Capital was liquidated in June 2022 after the LUNA/UST collapse. The fund had built massive leveraged exposure and reportedly held through the collapse without adequate invalidation or sizing discipline — a direct contradiction of the process principles articulated in the same podcast. The collapse became one of the defining events of the 2022 crypto credit crisis.