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At the heart of the story of how the internet broke the media business model is the simple fact that the internet was not built to facilitate the flow of money. Payments weren’t built into the internet’s infrastructure—it was considered too risky. Marc Andreessen called this “the original sin of the internet.”

Enter social policy bonds. Social policy bonds (SPBs), initially proposed by Ronnie Horesh in 1988, are financial instruments that reward people when they achieve social goals.

This realization will push most students to delay fall matriculation, or attend a virtual school over Zoom or some other platform. If they do the latter, they certainly won’t want to pay even a fraction of traditional tuition. If a virtual academic year costs 1/10th of the normal tuition, the school would need to enroll at least 10x the number of s... See more

This photo show the other extreme. Topshop was an icon of late 20th century mass-market fashion, but it failed completely to make the jump to online and went out of business in the pandemic.

What tradition or practice from another culture or era do you think we should widely adopt?

I wish patronage were widely adopted as an explicit social norm. So-called “gentleman scientists” and patron-funded scientists, such as Charles Darwin and Isaac Newton, were behind some of the biggest scientific advancements in the 17th through 19th centurie... See more