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Memes had no real monetary value, until… NFTs

It's not clear that the food industry can sustain the delivery industry but if it does, it will be a winner-takes-all market. And you are a lot more likely to win if you have a positive EBITDA.

Any reasonably clever monkey can create a short term game, especially ones that promise rewards to early adopters. How many waitlists have you signed up for without knowing whether you even want the product?

-In a permissionless market, adversarial actors can use a project’s token to threaten its success.

Strava, on the other hand, introduced an entirely new proof mechanism: Proof-of-physical-activity. By using your phone’s GPS sensor (or a 3rd-party fitness tracker), users can actually prove how much and fast they ran or cycled. In contrast to Instagram photos, Strava’s proof mechanism is a lot harder to fake (though there are exceptions).