Cofounder of Anode Labs. Bringing energy independence to every home.
1/ Wealth is a claim on other people's time
There are a lot of theories on what money is, on what wealth is.
Economists have written very long books on this. It is debt, it is the evolution of barter, it is an information system, etc, etc.
All of these are true... See more
Second, there are use cases for "crypto". Most notably: money. Money that's not issued by a central government is a perfectly reasonable use case. Crypto is successful at being money. You may think decentralized money is bad or not useful to you in particular, but if you can't accept money as a use case, then that's a hint that this claim may be... See more
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
Autonomous electric ride-hail vehicles should benefit from much higher utilization rates than human-driven cars, not to mention lower labor and insurance costs. ARK estimates that, at scale, an autonomous electric taxi platform could price rides profitably at $0.25 per mile. As a result, autonomous rides could cost less than personal car... See more
And when was the last time you tried to go to fill up your tank and you couldn’t because there was no fuel? The 70's? That was one of the worst existential crises our real economy has faced since the Great Depression. This is a far more frequent occurrence on the electricity grid: nodes can’t function individually, unlike how cars and boilers can.
We refer to this thesis as “proof of physical work.” Protocols that fit this thesis incentivize people to do verifiable work that builds real-world infrastructure. Relative to traditional forms of capital formation for building physical infrastructure, these permissionless and credibly-neutral protocols:1. Can build infrastructure faster—in many... See more