8-1c Look for inherently digital-native areas and concepts
8-1d Look for inherently crypto-native areas and concepts and conceptsdevelop
8-1b Look for places where we’ve taken an offline experience and put it online (physical ⇒ intermediate) but haven’t fundamentally innovated yet (⇒ internet-native)
8-2d2a You can’t be a multiple in analog world
8-2d2 In digital world, you can be in multiple nations (or equivalents) at the same time
6-3b2d Composability is software’s version of compounding interest-effect, because composability saving keystrokes implies compoundingdevelop
-
Network effects (digital) > Supply and demand (physical)
- “Skeptics sometimes suggest that NFTs will restrict the sharing of media. In fact, NFTs provide an incentive to loosen restrictions. Copying and remixing generally increase the value of NFTs, just as more players in video games increase the value of virtual goods. The same effect happens with physical art too. Both owner and artist can benefit from copying because, as the art is more widely shared, the original copies can grow in value. In the extreme case, a work of art, like the Mona Lisa, can become a widely reproduced cultural icon.”
-
Likely has to do with 3-1a4b2 Price can only convey so much & 3-1a4b4 Not everything are priced yetdevelop
-
What are the implications for mental models from economics (e.g., scarcity, supply and demand)?MentalModelsMentalModelsMicroEcondevelop
-
5-1b1b1a5 ‘Come for the tool, stay for the network’ tactic
- 5-1b1b1a4 Game = Game + Streaming + Virtual Goods
- ”People love video games, but people also love music, books, films, podcasts, and digital art. These other creative industries have simply experimented with fewer new business models. People make and listen to music as much as ever. The problem isn’t supply and demand; it’s the broken business models in between.”
- 5-1b1b1a4 Game = Game + Streaming + Virtual Goods
12-1a2d Abstractions such as ‘the economy’ and ‘the supply chain’ can be realized arbitrarily well (never exhaustively)
6-3b6 Digital-native ownership can address ambiguities of physical ones
A key challenge when building networks is overcoming the “bootstrap” or “cold start” problem: attracting users and contributors before enough of them are participating to make the network intrinsically useful.
-
Network effects cut both ways: they can accelerate growth, but they can also handicap it. Scaled networks attract new users without much effort. Conversely, subscale networks struggle just to survive.
- 5-1b1b1a1 Things can become easier the more complexity you have (Network effects = Power-law)
- Corporate networks used subsidies, but subsidies can only get you so far
- 5-1b1b1a1 Things can become easier the more complexity you have (Network effects = Power-law)
-
3-1c2e4.2 ‘Supply and demand’ - Physical is getting expensive partly because 5-2a3 People fight over tangibles
7-1a2a1.1 ‘Scale’ - Anything that scaled started small, at the edge, at the frontier, as an avant-garde
5-1b4c Exponential growth feels flat in the beginning, precisely why it’s worth making an extraordinary effort to get it started. You can also follow the Fun Criterion (the latter likely exhausts the former). Consistency is the key.
3-1d6c Amara’s law modified - we underestimate the importance of consistency in the short-run, but overestimate in the long-run