Phantom CEO Brandon Millman and Pudgy Penguins CEO Luca Netz highlight the critical phase of user acquisition in the crypto industry. Millman emphasizes the importance of user experience, positioning Phantom's wallet as a key solution to industry bottlenecks. Netz, on the other hand, focuses on leveraging emotional IP to bridge the gap between the public and crypto. Both CEOs agree that stablecoins and wallets will be pivotal in attracting the next billion users, with companies like Stripe, Robinhood, and USDC showing potential. They caution against the success of 'all-in-one' apps, advocating instead for specialization and differentiation.