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The second form of tokenization, asset tokenization, is the process of taking a traditionally illiquid asset and transforming it into fungible shares on a blockchain. Those shares can be traded on a trustless marketplace to enable their liquidity.

There have been several attempts to fix the ER problem over the years. I wont go into all of them, but telemedicine done right (i.e. purpose built, with features designed for this cohort) has clear potential if aligned with outcomes.

Imagine spending $11 million on a watch that only people you interact with in person can even see.

People ask questions on Google. "How do I make a dirty martini?", "What is the best electric car?", "Should I get vaccinated?". Google prioritizes links that answer these questions against a set of well developed rules. Those that rank typically do better serving the user. This too is The Algorithm. Hewing to the Google machine is called Search... See more

Late-stage VCs often lament that other funds are willing to underwrite to a lower multiple – and thus give higher valuations to companies. If the growth-stage multiple expectations continue to decline, it will only accelerate the relative attractiveness of late-stage debt, both for founders (no dilution) and investors (guaranteed IRR).