The crypto stack is a fascinating rabbit hole for engineers.
The best engineers get turned off by the speculative crypto markets but can’t resist the technology.
People sometimes forget that a company is just a group of people gathered together to make products. So long as it makes great products, it will have great value.
A firm is just a "nexus of contracts." Payroll contracts with employees, profit contracts with shareholders, debt contracts with lenders, delivery contracts with customers, tax contracts with the state.
Blockchain-based "smart" contracts will eventually reinvent the firm.
Wozniak at #Money2020: “Things that are defined by nature mean a lot more to me than things defined by man” (in reference to Bitcoin as a math-based system vs fiat as government-based system)
“what we are seeing here is the creation of a new internet, built upon protocols that allow for decentralized networks to form and tokens that allow people and companies to be compensated for that formation.”
-@fredwilson https://t.co/RZ9ay1uf7Y
Elections are popularity contests.
Social media has made it easier for folks to leverage their social capital.
It's not hard to imagine a future in which many heads of state are celebrities rather than career politicians.