Robbie Petersen (Dragonfly) raises a question nobody in crypto is asking: do the fraud detection systems that Visa and Mastercard spent decades building actually work when an AI agent is the one transacting? Agent behavior looks nothing like human behavior, and the risk-scoring models may not transfer.

Noah Levine (a16z) agrees this could be blockchain’s wedge into competing with card networks. They then debate where value accrues: Robbie defends his Fat Wallet Thesis (own the end user), while Noah argues AI is making front ends so modular that backend infrastructure becomes the real moat.

This clip is from a longer conversation on the future of agentic commerce. Full episode here

We go live twice a week, every week— subscribe to catch it live!