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* Realize that you, not the product, create the value. There are many shoe companies, there is only one Nike

And then there’s Amazon, which already accounted for nearly 40 percent of all US online retail sales — that’s around eight times more than its next competitor, Walmart. Before the pandemic, the US e-commerce industry only represented between 10 percent and 15 percent of overall retail. Now, that percentage seems likely to grow, setting up Amazon to... See more

Richard Chen: Rarible launched a token for the sake of launching a token and didn’t think deeply about token economics. As a result they heavily incentivized wash trading from people farming the token, and for a few months last summer Rarible was doing more volume than OpenSea. But once the inorganic demand dried up then it became super clear that ... See more

In New York, people speak fast. In the American South, they speak slowly. Both of them are a form of politeness, understood in a different way. In New York, you speak quickly because you respect the value of the other person’s time and you don’t want to take up too much of it. In the South, you speak slowly because you want to respect the person by... See more

What we realized with this company in particular is that it’s machine learning, so its main sustenance is data. Unless it has data, it will not work. It can’t exist in a vacuum, it’s not like Instagram where filters work from day one, regardless of the number of users. Our filters this time only work when you have hundreds of thousands of people u

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“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.”

Examples today: