I predict the rise of DATs will usher in the era of token dividends replacing token buybacks as the primary value capture mechanism of a network
With dividends, a DAT owns a business that generates cash flows. Those cash flows can be used to buy more tokens, repurchase shares, collateralize debt, or any number of financial engineering to maximize mNAV
As DATs move out on the risk curve towards alts, I expect them to use their governance power to drive this change
Let’s see!
META literally cannot spend $150 BILLION ON AI EVEN IF THEY WANTED TO
There is simply not enough available power and power equipment available. Suppliers of transformers, cooling equipment, etc are booked out until 2030
We need energy abundance, and we need it fast!
I gave a talk on why decentralization is critical for energy, not just a buzzword!
Hopefully this gives some insight to why things like “Just build more nuclear!” isn’t actually the fix for our power grids
Check out the full talk below 👇
I was skeptical when people said we’d see new religions born out of AI but this GPT psychosis stuff feels like Phase 1.
What happens when a large percent of the population truly believes they are a prophet for some greater intelligence?
Scary stuff
