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But paper also, Innis pointed out, made ideas transient. That’s because, compared to clay tablets, paper isn’t very durable. It fades, it gets ripped; the Library of Alexandria burns. Perhaps worse, from Innis’s point of view, is paper encouraged disposability. Once newspaper printing presses started cranking in 17th century—pushed into overdrive... See more

Education is the way that a society articulates its values: the way that it transmits its values.

Instead, Cook has been clear about his intentions: to democratize healthcare and empower individuals to manage their own health. With an emphasis on rigor, privacy, and healthcare partnerships, Apple’s actions bear this out.

Another way of seeing the fungibility spectrum, then, is as a measure of how difficult it is to transfer service from one platform to another. As Max Glassman put it in reviewing this argument, “it's all about switching costs… It would be difficult to find our favorite leaders' thoughts in 280 characters elsewhere.”

Protocol mobile apps are the next step to take crypto mainstream. Even if most people end up interacting with protocols through third-party apps in the long term, first-party ones will be an important step in the journey; they are incredibly narrow in terms of brand and product, which makes them great for onboarding and educating users.

Tencent, Bilibili, and Kuaishou all rely heavily on “value-added services”—things like micropayments and subscriptions and virtual currencies. More Western companies will turn to VAS, particularly if Apple and Google reduce the 30% tax they take on every digital economy. Already, Discord and Clubhouse have eschewed ads and Facebook, Snap, and... See more

There’s one catch here, and that’s the dilution of the token. If someone were to buy 100% of AXS tokens today, they would only actually own ~25% of tokens in five years. That’s because Axie Infinity is printing more tokens at a really aggressive rate. Therefore today’s token holders wouldn’t actually get $19 billion - it’d be more like $5 billion.

We're incentivizing a lot more of social status than we are utility. And I think there is deep, deep utility with Twitter - it's the fastest most influential way to get your thoughts to the world. There's nothing faster.

In crypto, there’s a whole new set of specialized skills needed to build a successful project. Things like tokenomics, treasury management, community management, onboarding, governance, smart contract development, data science, protocol security, OpSec, etc. Because there aren’t many experts in these areas yet, we’re already seeing crypto-native... See more