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At first glance, this might seem counterintuitive. If you are building a mobile-first bank, why not offer virtual cards and let users pay with their phone? Why go through the hassle of producing and shipping physical cards?

Trendy D2C brands will focus on brand affinity, repeat shopping, and lifestyle by building new experiences on top of credit cards. For example – a mid-tier Away Card for travel or an Infatuation Card for dining and exclusive access to restaurants

But Graeber loses traction when he tries to explain why “it’s as if someone out there made up pointless jobs for the sake of making us all work,” or when he attempts to get a handle on how automation and technology have done the opposite of creating a lovely four-hour workday. His explanation hews to an argument that fits his politics: “Corporation... See more

It can be interactive, not passive

Perhaps surprisingly, virtually all of decentralized finance, aka DeFi, consists of finite state applications. As long as you can store a handful of account balances, you can start to build arbitrarily-complex tools for people to trade, borrow, lend, etc... and you'll never have to store more than the ending balances in the long-term. This is becau... See more