From: thepipeline_xyz
Internships at CMS Holdings have provided unique pathways into the crypto industry, exemplified by the journey of Kevin, known originally as @CMSintern and now @intern on Twitter [00:01:41].
Origin of the Internship
Kevin’s internship with CMS Holdings began during the early days of the COVID-19 pandemic, around late 2020 or early 2021 [00:02:32] [00:02:53]. At the time, Kevin was still in school, but a mutual friend who had previously interned with him reached out to CMS Holdings co-founder Dan Matuszewski [00:02:38]. The friend highlighted Kevin as “sharp” and available, as school was shut down [00:02:43].
CMS Holdings was a small team of about seven people at the time and was “drowning” under the rapid increase in activity in early 2021 [00:02:58] [00:03:04]. They struggled to keep up with the information flow and incoming tasks [00:03:08]. After an initial conversation, Dan and other partners (Bob and Julian) recognized Kevin’s potential, noting he “got a head on shoulders” and had the bandwidth to assist with miscellaneous tasks and information screening [00:03:12] [00:03:17] [00:03:22] [00:03:25] [00:03:31].
Initial Interview Anecdote
Kevin recalls a brief, two-and-a-half-minute phone call with Dan while driving home for Thanksgiving. Despite the short call, Kevin felt confident he had secured the internship [00:07:17] [00:07:36]. His main focus during the winter break was to delve into crypto [00:07:50].
Role and Progression
Kevin “hit the ground running” and exceeded expectations [00:03:48]. Although initially brought on for a temporary internship before returning to school, CMS Holdings offered him the opportunity to continue working part-time, with a view to joining full-time after graduation [00:03:55]. Upon graduating, Kevin joined full-time and quickly acclimated to the industry [00:04:04].
The @CMSintern Twitter Persona
The @CMSintern Twitter account originated from Kevin [00:04:08]. Initially, Dan wasn’t aware that Kevin was behind the account, mistaking it for one of many “weird sub accounts” like CMS dog or CMS bear that emerged around that time [00:04:13] [00:04:31]. Kevin eventually messaged Dan to ask if it was okay to continue with the account, to which Dan agreed, with the only condition being to “just don’t do anything that’ll get you in trouble” or “get weirdly political” [00:04:40] [00:04:53].
The videos posted by @CMSintern gained significant popularity, often going viral [00:05:04] [00:05:15]. The firm’s internal Slack channel was a source for content, with staff thinking a “full-time meme guy” was important in crypto [00:08:04] [00:08:31].
Kevin eventually transitioned the handle to @intern through a “Twitter rain dance,” involving reaching out to the previous owner of the handle (who hadn’t tweeted in two years) and working with Twitter support for the transfer [00:05:34] [00:06:30].
Reflections on the Experience
Kevin views his time at CMS Holdings as a stroke of luck, landing at a “10 out of 10 spot straight out of school” [00:41:52] [00:41:59]. He never planned to leave, having reviewed thousands of pitches in his role on the venture side of CMS Holdings without finding anything as compelling [00:42:01].
A memorable experience for Kevin was watching Bitcoin break through $20,000 [00:36:39]. During this period, the team would actively identify and “flow” money into assets that hadn’t yet moved, a strategy that consistently yielded success [00:36:57] [00:37:28]. This approach highlighted the dynamic nature of crypto markets, where money disperses from Bitcoin and Ethereum into other assets [00:37:48].
Advice
Drawing from his experiences, Dan offers two key pieces of advice:
- Cut it with the leverage: Excessive leverage can lead to significant pain, especially when counterparties fail, forcing unideal unwinds of positions [00:48:26]. There are often second and third-order effects in leveraged markets that are unclear [00:48:58].
- Trade less: Often, people trade too much, undoing their own sound decisions. If you have a strong thesis, it’s often better to simply wait [00:49:15]. In crypto, where people feel compelled to trade constantly, this can be counterproductive [00:49:57].