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What if there were another way? What if a startup that successfully builds a community could opt for an exit to ownership by that community?

First, the value of a token is not well aligned with the long-run value of the underlying platform. There are many types of tokens, and the value of each depends on the underlying rights that the token provides

Building a product is like making a song. The band is composed of marketing, sales, engineering, support, manufacturing, PR, legal. And the product manager is the producer—making sure everyone knows the melody, that nobody is out of tune and everyone is doing their part. They’re the only person who can see and hear how all the pieces are coming tog... See more

As Nobel-laureate Robert Shiller observes: “Gold is a bubble, but it’s always been a bubble. It has some industrial uses, but basically it’s like a fad that’s lasted thousands of years.” This is not an argument against gold (or Bitcoin) as a valuable monetary asset, but an astute insight into the bubble-like, reflexive nature of money.

I think the first point of treating competitors with an ordinary mind is to see competition as the norm. Don't try to escape the competition, it's a good thing. I don't even think that competition should be ended by doing M&A.  We see a lot of companies that eliminate their rivals through M&A becoming complacent and end up sl

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Your goal should be to look smart at the end of your journey, you don’t have to look smart at every step of your journey

Entireworld is sort of post-D.T.C., which is to say that there is no Silicon Valley boardroom trying to solve a problem for you. It’s just Sternberg, a fashion-industry refugee, feeling his way through it.