Jason Badeaux

As I noted in Understanding Token Velocity, the V in the equation of exchange is a huge problem for basically all proprietary payment currencies. Proprietary payment currencies are, generally speaking, susceptible to the velocity problem, which will exert perpetual downwards price pressure.

Since 2017, Tesla’s capital expenditure per incremental unit of capacity has improved from ~$84,000, when the Model 3 was ramping, to ~$7,700. While these improvements indicate that Tesla could continue to increase margins, the more important takeaway is that capital no longer is a bottleneck limiting its growth. Instead, Tesla should be able to... See more

Applying the idea of decomposition to understanding token design and value created on top of it leads us to two entities: Value Capturing Mechanism (VCM) and Value Creation Pattern (VCP). The Mechanisms (VCMs) explain how value is created and how the token accrues value (describes origins of value capturing), while the Patterns (VCPs) describe how... See more

Adjusted for inflation, the cost of owning and operating a new vehicle hasn’t budged since the Model T rolled off the first assembly line in 1934: $0.70 per mile.

Our multi-year research effort into Tesla’s manufacturing capabilities andsupply chain integrations suggest that Tesla is more than 6 years ahead of anycompetitor. This lead is expanding.

One of the most powerful features of crypto-economic protocols is their ability to create incentive structures that allow anyone in the world to permissionlessly contribute to a set of shared objectives. These incentive structures can be finely tuned to facilitate large-scale coordination to achieve specific goals. This represents a step-function... See more

In order to build efficient, combustion-based generators, we needed to build them at economies of scale and extensive transmission and distribution networks to transport power along with them. Those wires are vulnerable to being knocked out by storms (or even squirrels), leading to blackouts, or supply shortages leading to cascading failure. That... See more

Yesterday, there was a wall of Tesla patents in the lobby of our Palo Alto headquarters. That is no longer the case. They have been removed, in the spirit of the open source movement, for the advancement of electric vehicle technology.