Sarah Drinkwater

One of the reasons that there is so much confusion around token design, and value accrual specifically, is that tokens, and the DAOs and protocols that issue them, are so multifaceted. Sometimes, the issuers want them to behave like shares in a corporation. Others issue “governance” rights to skirt regulations while insiders pump the tokens in the... See more

For early-stage investing, I believe that the small flat partnership is the best structure if the goal is to produce high return on capital funds. Here are some reasons why this model is superior for early-stage investing:- At the early stage, investors must bet on teams and ideas that have not been proven. The biggest winners almost always come... See more

Together, the two houses of the collective will drive a powerful flywheel, funding public goods that make Optimism blockspace more valuable, leading to more revenue for public goods, and so on.

It’s interesting to think about how new generational consumer behaviors translate into new businesses. We’re seeing a slew of startups building better solutions to the housing crisis, the climate crisis, the education crisis. But there are also less obvious impacts from consumer behavior:

In-group Cheems is particularly pernicious because of the strength of peer effects.  If you are surrounded by like-minded, ambitious, will-to-act-havers, you are unlikely to find yourself much affected by In-group Cheems.