sari

Sir, anything truly revolutionary is created by a few who see what is true and are willing to live according to that truth; but to discover what is true demands freedom from tradition, which means freedom from all fears.

 You walk down your high street. What do you prefer to see there? The economist will say: Walmart, Best Buy, the Gap. Scale economies — cheaper prices — better for “consumers”! But the human being will say: an independent cafe, a good bookshop, a boutique clothing store. Why? Because they offer many things that mega scale organizations don’t.

We posit that the most prominent NFT projects, things like Bored Ape Yacht Club and Pudgy Penguins, hold such a remarkably similar structure to Multi-Level-Marketing companies (MLMs) that they will also suffer from the same failures. Investors should exercise extreme caution as they evaluate this emerging asset class.

It is the business model of the internet, driven by ad revenue, that pushes companies to design their digital tools for compulsive engagement. This is, I think, true enough. The business model has certainly exacerbated the problem. But I’m far less sanguine than Hari appears to be about whether changing the business model will adequately address th... See more

Consumer refers to how well a company can define and understand who its consumer is and the context they make decisions; what they pay attention to and what they spend money on; what they value and expect from the world and each other. E.g. Looking at taste communities is here more important than zooming in on the individual.