Juan Orbea

We replicate venture capital returns using liquid small-cap public equities and find the underlying innovation premium also exists at large innovative firms. We also show that crypto tokens can provide a liquid complement to blockchain venture equity.

Balaji's argument in The Network State, as I am interpreting it, is as follows. While we do need political collectives bound not just by economic interest but also by moral force, we don't need to stick with the specific political collectives we have today, which are highly flawed and increasingly unrepresentative of people's values. Rather, we... See more

Why Intelligence is More Powerful than Physics

Undersea cables, and long-distance communications in general, became the highest of high tech, with many of the same connotations as rocket science or nuclear physics or brain surgery would acquire in later decades. Some countries and companies (the distinction between countries and companies is hazy in the telco world) became very good at it, and... See more