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In contrast, fiat currencies, which are jurisdictional standards, commonly require adapters that extract rents. Financial intermediaries serve as adapters that coordinate economic activity across political boundaries.
Stephen McKeon • Components of Coordination
Taste is not the same as correctness, though. To do something correctly is not necessarily to do it tastefully. For most things, correctness is good enough, so we skate by on that as the default. And there are many correct paths to take. You’ll be able to cook a yummy meal, enjoy the movie, build a useable product, don a shirt that fits. But taste ... See more
Today, I can barely tell anyone apart. Many of the Substacks I follow use these big, figurative words that don’t really make sense in an attempt to go viral, which on this platform means getting subscribers and notes and comments. It’s like there’s this internet language that “works” for engagement (literal language, but also sense of style, and a ... See more
Emily Sundberg • The Machine in the Garden.
everyone is boring
The core lesson is that the best and most disruptive companies go "from zero to one," from non-existence to existence, from no solution to solution, from nothing expected to something expected. Most companies, though, go from 1 to 1.1, or 1.1 to 1.11, they don't make a huge disruptive change. To have a lasting impact, you must find a zero and creat... See more
Peter Thiel • Zero to One: Notes on Startups, or How to Build the Future
I often think about the fact that at 31 years old, Charlie Munger was divorced, broke, and burying his 9 year old son, who had died from cancer.
DTC Essential Oil brand: It’s time for essential oils to have a glow-up. A great DTC play would be to make them feel cool, curated, and quality-controlled, removing the need to ask your weird aunt who works for an essential oil MLM scheme or step foot in the overwhelming supplement aisles of a Whole Foods.
Mario Gabriele • Not Found
Motion is the ideation, planning, and learning stage. The stage where you’re scrolling Pinterest, making vision boards, watching YouTube, listening to podcasts, reading books, etc.
Motion, as I well know, is a dangerous place to be. It feels like you’re doing something, but all the while, the needle isn’t moving an inch. Motion doesn’t produce any r... See more
Motion, as I well know, is a dangerous place to be. It feels like you’re doing something, but all the while, the needle isn’t moving an inch. Motion doesn’t produce any r... See more