sari

Optimizing for the right people to participate in governance processes is an ever-evolving discussion in governance circles today. It may not be pragmatic to assume that all voters should participate in every governance decision. Participating in governance is a lot of work—reading and digesting a proposal, providing feedback for discussion and goi... See more

Typical enterprise software companies spend approximately 7-15% of their enterprise value on customer acquisition. L1 Web3 companies spend 29-95%.

The text renaissance is an actual renaissance. It’s a story of history-inspired renewal in a very fundamental way: exciting recent developments are due in part to a new generation of young product visionaries circling back to the early history of digital text, rediscovering old, abandoned ideas, and reimagining the bleeding edge in terms of the une... See more

Content-first and advertising-first will break down the dominant social networks over the long run.

I’m starting with a simple-sounding question: What is AGI?

The leading labs have all informally named building AGI as their explicit goal, yet there’s surprisingly little consensus on what it means. News articles do this hand-wavey trick where they spell out “artificial general intelligence,” then wedge a definition like “AI better than humans at co... See more

Real estate in the metaverse will not be a thing. Real estate is valuable because there is a non-zero cost to move from point A to point B in the real world. There is no such cost in a digital world, negating all value of the analogous concept.