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)

“The internet didn’t begin with social media, streaming, or online communities; it began with packet switching, TCP/IP, and basic connectivity. Only once hundreds of millions of people were online did entirely new cultural and economic categories emerge.” – Chris Dixon

Related:

• 11-3.4a More is different

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Previous:

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

Next:

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

Related:

• 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

• 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