“We do not receive wisdom, we must discover it for ourselves, after a journey through the wilderness which no one else can make for us, which no one can spare us, for our wisdom is the point of view from which we come at last to regard the world.”
- Marcel Proust
Why?
Why crypto?
Why Comma?
Because:
- World-changing technologies look like toys when they're just starting out. People thought "why does my pizza shop need to put its menu online" in 2000. In 2025, it changed the world. We're in the year 2000 for crypto.
- Crypto isn't just interesting, or a good investment. It teaches us about the world. How it actually exists. How it works. It asks whether we actually know how things work in the world around us, and whether they even do work. Crypto teaches us how things could be. This is why crypto matters. Not just because it's interesting. But because once you pay attention, it shows us where we can make the world better. This why we do what we do at Comma.
- When most who refer to crypto as the "wild west" do so because of its rapid change, chaos, volatility, change, uncertainty. At Comma, we believe in the cowboys at the frontier not because its wild - but because cowboys ask the questions that other's won't. They're willing to actually take a look at how the world works, and dare to say "we think it could better." Better, but different. They get ridiculed for asking it - and we think they get ridiculed for the wrong reasons.
- We believe in the world that the cowboys see and help build. The rapid change, chaos, volatility, change, uncertainty - where most get stuck - aren't even half the story. They're just part of the nature of being human, and building a better world.
- Crypto is coordination technology. At its core, crypto is like the most world-changing technologies that came before us that connected the world. The printing press. The car. The limited liability company. The internet. Crypto is the next evolution, where we bring the nexus of coordination from an inefficient, abstract system like the legal entity of the limited liability company down to the human. Enabling us to do what we humans do best - tell stories about what's worth doing, where's worth going, and coordinating resources (human, financial, and technological) to build that world. This requires going to the frontier. This is why we need the cowboys.
- Crypto is freedom technology. Crypto creates a more sovereign and dignified world. Sovereignty is freedom. Agency. Ownership. Dignity is inherent worth and value. Both are intrinsic to our humanity - but can be suppressed or amplified. Crypto amplifies these for the human. The human is in charge, not controlled by other systems or entities. Those that create the value, receive the value with crypto. No gatekeepers.
- We believe in crypto. But it's also not guaranteed. There's a chance it won't be everything we hoped. But we believe in it enough to work on it. To do our part. Because if we can, it really fucking matters.
"Trading is a zero sum game inside a larger positive sum game.
Though every trade has a winner and offsetting losers, markets as a whole direct resources across space and time and help civilizations grow. The emergent objective of complex systems is usually only visible in hindsight.
If you get too cynical about the uselessness of what you do, you will spiritually one shot yourself and burn out."
https://x.com/thiccyth0t/status/1981835308116443169
Comma Partners, September 2025 update
Much of crypto twitter still thinks that we're either in a bursting bubble or a crashing recession.
We don't.
We think we're in goldilocks. Strong growth, stable inflation, and rising liquidity.
https://paragraph.com/@comma/comma-partners-september-2025
The world has always been a market.
A chaotic system where humans bring what value we have to bear to move life and society forward.
The internet has been our best tool for facilitating the world market.
Global, instant, frictionless. It's the ultimate market for human attention.
But huge gatekeepers take a massive chunk.
Tokens are the missing tool.
Tokens conceptually organize and coordinate value and ownership, at larger scale and greater granularity than we've ever had.
But even the internet is too inefficient to manage this.
Without ownership and value built into the internet, we had to duct-tape ancient analog financial rails to this instant digital market.
It was too inefficient. Too slow. We paid too much.
We needed a next version of the internet.
Now we have crypto.
An even better system for coordinating information and value, at grander scale, even cheaper.
We used to just have money, finished products, views and likes.
Now, tokens represent more. All forms of value.
Now, we have an even better system where we bring to bear our most inherently human attributes more directly.
Our attention, taste, curation, love, belonging, are valuable. Always have been.
Now, we can bring these more directly, more efficiently, more effectively.
The abstraction gets thinner. No intermediaries.
The marketplace that is our world now does its job even better.
Facilitates humans bringing our value to bear to move life and society forward.
Comma Partners is a new-paradigm crypto fund at the frontier of community, technology, culture, and capital.
I wrote that description a long while ago because I had a vision, but I didn't know how we'd get there.
Now, I do.
Community, technology, culture, and capital are all converging. They will all be the same thing.
Value.
Crypto is technology that enables this to happen.
Tokens are the tool that makes it happen.
Comma Partners, August 2025 update
Much of crypto twitter thinks the top is in
We don't
The Fed is cutting rates into an accelerating economy
Things still look good
https://paragraph.com/@comma/comma-partners-august-2025
