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“To be a truly creative company, you must start things that might fail.”

8. Intellectual property will become less defensible in the short term but it is still cultural gold. From “my kid could do that” to “right click and save,” new media from the early 20th century onward has been poorly received. As W. David Marx writes of NFTs in Dirt, “whether or not this particular NFT bubble bursts, we should take them seriously... See more

Having said that, Axie Infinity demonstrates that DAOs are an incredibly innovative business structure with significant potential for value-creation. In the coming years, more DAOs with tangible earning power will emerge, and investors should consider adding exposure to this emergent asset class.  

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The idea there is “news of the day” was created by the telegraph, which first made it possible to move decontextualized information over great distances at great speed. But “news of the day” is a figment of our imagination, it exists only because of communication speeds.

-Higher velocity: projects began to be delivered faster.-Higher quality of work: having the support needed meant less shortcuts taken, more testing, and better delivery.-Lower coordination overhead:coordination and support problems were preempted by a single stack rank. It was clear to everyone how work weighed against each other.-Higher... See more