King

In my view, the word “wallet” falls short in a few different ways. Wallets in the traditional sense are static objects — they don’t change or adapt over time. They also don’t necessarily accumulate in value; wallets are purely storage facilities for capital, which, in turn, makes NFTs feel like capital assets. And if we want to get really pedantic,... See more

Internal prediction market

TikTok is entertainment Cheetos. Each video requires so little cognitive exertion and reaches its climax so quickly that it feels like we could keep watching forever, each punch line scored to the most satisfying bass drop or stanza from every pop song. TikTok delivers dopamine hits with a metronomic rhythm, and as soon as we swipe up the previous... See more

demand for a product increases when the price of its complements decreases. In general, a company’s strategic interest is going to be to get the price of their complements as low as possible. The lowest theoretically sustainable price would be the “commodity price” — the price that arises when you have a bunch of competitors offering... See more

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