It's 2026. Stablecoins yields should be allowed to operate in the US market and compete with banks.
Every industry and business has to adapt to new technology or risk falling behind. Why is this any different?
Agency > Intelligence
I had this intuitively wrong for decades, I think due to a pervasive cultural veneration of intelligence, various entertainment/media, obsession with IQ etc. Agency is significantly more powerful and significantly more scarce. Are you hiring for agency? Are we educating for agency? Are you acting as if you had 10X agency?
Grok explanation is ~close:
“Agency, as a personality trait, refers to an individual's capacity to take initiative, make decisions, and exert control over their actions and environment. It’s about being proactive rather than reactive—someone with high agency doesn’t just let life happen to them; they shape it. Think of it as a blend of self-efficacy, determination, and a sense of ownership over one’s path.
People with strong agency tend to set goals and pursue them with confidence, even in the face of obstacles. They’re the type to say, “I’ll figure it out,” and then actually do it. On the flip side, someone low in agency might feel more like a passenger in their own life, waiting for external forces—like luck, other people, or circumstances—to dictate what happens next.
It’s not quite the same as assertiveness or ambition, though it can overlap. Agency is quieter, more internal—it’s the belief that you *can* act, paired with the will to follow through. Psychologists often tie it to concepts like locus of control: high-agency folks lean toward an internal locus, feeling they steer their fate, while low-agency folks might lean external, seeing life as something that happens *to* them.”
@pmarca Double-digit growth is coming within 12 to 18 months.
If applied intelligence is proxy for economic growth, which it should be, triple-digit is possible in ~5 years.
@PeterLBrandt I would argue that for the first time Bitcoin ETFs came into play. For the first time Wall Street money has been dominating Bitcoin, not CT semis
The theme of the last 10 years was assets moving onchain.
$300B moved into stablecoins. $100B moved into DeFi. $50B moved into perps.
The theme of the next 10 years will be companies moving onchain.
We'll go from $10-20B onchain revenue to +$1 trillion.
Combined with AI, this will create an explosion of opportunity and new types of companies never seen before.
Position accordingly.