Progress is mostly about what does not happen. Progress means a 92-year-old who did not die today, a boy who was not robbed on his way to school, a 12-year girl who is not married to a 30-year old man, etc. What did not happen does not make the news. The best parts of civilization don’t get headlined.
Think about someone you didn’t take seriously until someone you respect told you that they think highly of them—how many missed opportunities are there because people miss out on this information? We have inefficient markets for reputation today, and that creates all sorts of market failures as a result.
For example they have lower gross margins. Anecdotally, we have seen gross margins of ML companies at around 50/60% vs 60–80% of comparable SaaS businesses. This is due to two factors. Firstly, the hidden cost of the cloud infrastructure. Training a single ML model costs thousands of dollars in computing resources. Secondly, many applications... See more
-What is the main limitation today? Performance. A blockchain computer inherently takes a hit on performance, because the design is foundationally based on the idea of not trusting a single computer. You need to pay for the overhead of running all these computers
When the playing field is leveled such that the only content is what people are able to produce themselves, the major advantages that celebrities have disappear: access to professional production resources and distribution through traditional gatekeepers. The remaining differentiators are entertainment value and fun.