Back of the Envelope

The concept of public goods in crypto is pretty popular. It’s discussed a lot with regard to layer-1s, protocol treasuries, and ecosystem growth. The term has also begun to pop up in investment announcements. I find this last part especially interesting — prior to seeing firms…
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NewTop
These are a set of questions I think about almost daily. I find them useful for pushing my thinking, so I thought there might be value in sharing them…
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In crypto, people talk a lot about the concept of incentive alignment. Different mechanisms for “incentive alignment” have emerged, including staking…
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The United States operates under a system of representative democracy. Constituents vote for Congresspeople, who in turn will vote on issues of…
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Transportation provides an interesting mental model for thinking about components of crypto: Blockchains are roads Wallets are cars Dapps are often the…
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Subject to Change
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Exclusion is a powerful feeling. Feelings of exclusion from the traditional financial system have, in part, driven much of the younger generations to…
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I recently wrote about how web2 companies interested in crypto — companies I called “web2.5” — have the potential to control the crypto narrative for…
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Back of the Envelope

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