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Because it’s a hit-driven industry, toy companies that succeed can be immensely profitable for a while. The problem is that the difference between a cultural landmark and a fad is visible after a decade or so, while the decision of how much to order and how much to spend on marketing has to happen every year regardless. So toy companies with a hit ... See more

As an illustrative example: The city of Helsinki wants to reduce Helsinki’s annual carbon dioxide emissions by 80% by 31st of December, 2030, as measured by real-time data from NASA's carbon-sensing satellites. The city agrees to pay out $60 M in total when the reduction is achieved. It issues 600 000 carbon bonds redeemable for $100 at the date of... See more

Such strictness means the supplier and consumer don’t need to know each other, and without knowing each other they also have zero-recourse in meatspace-land, where things can get messy, slow and expensive.

The competitive disadvantages of decentralization are so immense that it only works if the offered incentives (economic, cultural) outweigh those disadvantages.

the corporate form was born in the era of Mercantilism, the economic ideology that (zero-sum) control of land is the foundation of all economic power.

We like to pretend that our generous impulses come naturally. But the reality is we often become our kindest, most ethical selves only by seeing what it feels like to be a selfish jackass first. It's the reason... we have to get burned before we understand the power of fire; the reason our most meaningful relationships are so often those that cont

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