Cryptocurrencies
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Libra is less about an immediate benefit to Facebook, and more about creating a world where companies like Facebook have the best chance to prosper. That is why Facebook gave up so much control.
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Did you hear the one about the tulip bubble? It’s almost certainly a myth. It is myths, though, that explain why cryptocurrencies are here to stay.
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Putting aside the particulars of Bitcoin, the potential it represents is absolutely a very big deal. As I’ve written multiple times on Stratechery, the defining characteristic of anything digital is its zero marginal cost. Take…
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Nvidia Warning, Nvidia vs. TSMC, Ethereum Miners vs. the Merge
Nvidia released an earnings warning that was bad on the surface and even worse in the details; one of the reasons to be bearish is the Ethereum Merge.
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OpenSea, Web3, and Aggregation Theory
OpenSea is positioned as another Aggregator, which is evidence that Web 3 is a layer on top of the Internet, not a replacement.
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ConstitutionDAO, The Need for Trust, Memes and Reality
ConstitutionDAO is an interesting project to buy a physical good as a community; what is particularly interesting is what it says about the power of actualizing memes
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Sequoia Productive Capital
Sequoia’s transformation of its venture capital model is actually a shift from financial capital to productive capital