8-2b2b Key moment is when people (e.g., devs) don't have to worry about the infrastructure (e.g., platform risks including high take rates)

8-2b2 The most efficient business is one with trust, or one completely without

9-4b3e3a Interfaces should follow the principle of least astonishment

3-1d6a Consistent style allows cognitive offload with regard to everything unrelated to the problems at hand
4-1a4b6a0 You can use ideas both NOW (upside - cognitive offload) and LATER (upside - ideas becoming useful with new interpretation). Ideas ≠ Money.

4-1a4b3a Constitution formalized the shift of national governance from individual rulers to written law
4-1a4b3b A blockchain constitution means an immutable topic to be discussed
8-1b3a A blockchain takes the code seriously
8-1b3d Monetary policies can come first and the currency circulation can come later (or symbiotically-simultaneously), not vice versa (i.e., bottom-up vs top-down)
E.g., Powell and BoJ
Key moment is when there’s no worry about your currency diluting at the whim of central banks

8-2b2b1 Low take rates have a multiplier effect
8-2b2c The iPhone (or the blockchain) moment

• You can invest in and grow your businesses without the risk that the DeFi networks will change the rules, undermine them, and extract your profits later

  • 8-2b2b1 Low take rates have a multiplier effectdevelop
    • In a sense, ‘key moment’ is already here
      • 6-3b3e Everyone benefits in blockchain and protocol networks
        • 5-1b1b1a3 Network effects (digital) ＞ Supply and demand (physical)

• In other words, key moment is when composability functions fully (subsequently, comparative advantage maximizes in the ecosystem because delegation and exchange are also maximized)develop

  • 2-1c1 ‘Comparative advantage’ - If others can do it, let them
    • 1-1a5b4 ‘Release early and often, delegate everything you can, be open to the point of promiscuity’
      • 6-3b2d Composability is software’s version of compounding interest-effect, because composability saving keystrokes implies compounding

• Blockchains throughput = LLMs context window (8-4b A context window can reach billions)develop

• Where bean counters see fat margins, entrepreneurs should see blood. Your take rate is my opportunity, as Bezos might say.

  • 7-1a6a Successful founders see different problems
    • 2-1d ‘Ecosystem’ & ‘Thermodynamics’ & ‘Double-entry bookkeeping’ - Everything is connected, there is no free lunch
      • Your spending is someone else’s income

• 7-1b4b You can let the tech decide what are the problems to be solved. Otherwise, it will decide by itself. It’s about possibility and not about should.

  • 7-1b4f Let the tech decide where to go (both intellectually and physically)
    • 3-1c3c0 Ideas have timing