Jason Badeaux

Web 3 introduces a powerful new tool for bootstrapping networks: token incentives.The basic idea is: early on during the bootstrapping phase when network effects haven’t kicked in, provide users with financial utility via token rewards to make up for the lack of native utility.

Guilt and shame don’t and won’t change anything at scale. There simply aren’t enough people willing to buy more expensive products nor companies on board with overpaying for sustainable materials just because they feel bad. Cheers to consumers and companies that spend a little more to choose options with climate in mind. You’ve undoubtedly helped... See more

The core strategy has unique elements at each level of the ecosystem: overturning the core product architecture, positioning themselves in key bottleneck components, and resolving system-level limitations that slow the adoption of the technology. At the same time, they have applied an effective approach to build their innovation capital so they can... 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.

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

Financial assets are promises to trade certain things in the future, if certain events happen in the world. The financial system is the market for promises.