Centralized control is useful at the beginning of an economy, but limits innovation in the long run. That is as true for China as it is for the App Store.
Non-Fungible Taylor Swift
Taylor Swift, like Dave Chappelle, is leveraging the power of the Internet to take control of their art.
Nonfungible Tokens, NBA Top Shot, The Creation of Consumption
NFTs are useful not simply because they are unique, but because they are an easy-to-understand way to understand the importance of blockchains.
Mistakes and Memes
Information on the Internet is conveyed by memes, which can be anything and everything. The real world impacts are only now being understood.
Coinbase’s Clarification, Spotify and Joe Rogan, A Framework for Politicization
Coinbase and Spotify are both grappling with political questions, which is something all companies should prepare for.
Facebook Pay, Google Checking, Tech Company Differences
Facebook announced Facebook Pay, which is far different from Libra. Then, Google is apparently getting into checking, which leads to a question of motivations: each of the tech companies are approaching financial services from a different angle.
SoftBank Rescues WeWork, Owning WeWork, Zuckerberg in Congress
SoftBank is rescuing WeWork in a very strange transaction, then re-visiting what I have written about WeWork. Plus, Zuckerberg’s appearance in Congress confirmed why Libra is the wrong approach for the company.
Libra Launches, Loses Members; A Note on Facebook v Warren; The Office of Emerging Technologies
Libra launches, but may be dead before it begins. Then, Facebook v Warren is a reminder of the value of the U.S. approach — and an indirect way to explain how silly San Francisco is.
Libra in Congress; Global Community, Revisited; Messianic Versus Money-Making
Libra had a chilly reception at Capitol Hill, which highlighted a fundamental tension between Internet companies and lawmakers. Then, why it was inevitable that Facebook would make Libra, and why it was probably the wrong choice.
Libra’s Questionable Benefits, Facebook’s Hidden Costs, Philosophical Objections
While Facebook, Libra, and the Long Game was about analysis, this Daily Update is about opinion: I don’t think Libra is a good idea.