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A token can acquire a user, but it can’t retain them—for that, users have to collectively decide that the project and the token are actually worth something to them practically, socially, and emotionally.

There's really no honor in proving that you can carry the entire load on your own shoulders. And...it's lonely

Google “smartest people in the world” and most of the results will be physicists, mathematicians, computer scientists, and chess masters. These are all difficult problems, but they are well-defined, and that makes it easy to rank people.

There’s simply no deep reason that economic growth requires increasing use of any physical resource. Economic value is all about the configuration of stuff, not the amount of stuff. If you took a hammer and smashed your phone to pieces, the resulting pile of trash would still contain the same amount of silicon and cobalt and gallium arsenide and so... See more

When money is used as an external reward for some activity, the subjects lose intrinsic interest for the activity.

Because of Stripe, internet businesses barely have to worry about payments.