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Music can only be played legally through licensed services or via licensed downloads; podcasts can be played by anyone

Collective enforcement, then, is the essence of norms. This is what enables the egalitarian political order so characteristic of the forager lifestyle.

Decentralization can be thought of as a single design challenge that spans three different, but interrelated elements: technical, economic, and legal. Understanding the differences in these elements is key to designing web3 systems because design decisions with respect to one affects the others.

1. Momentum is a moat . As an optimistic entrepreneur, chief product officer focused on innovation, and especially as a leader of M&A for years, this is a lesson I have learned the hard way more times than I care to admit. When a product has escape velocity, it doesn’t even need to be the best product on the market to continue winning. This pains me

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Revolution doesn't happen when society adopts new technologies - it happens when society adopts new behaviors.

Naval: "Crypto investing is to venture investing as venture investing is to value investing."