Crypto is often derided as a casino of the most degenerate sort. And it’s true. At some level, that’s precisely what it is. However, it’s a mistake to take issue with crypto on this basis alone. Speculation -- i.e. degeneracy by another name -- is, in some sense, fundamental; for all of human striving is conjecture. Indeed speculation is the means by which we actualise the future. It is, in the economic context, the act of taking capital and allocating it to a future that might be. It is futu...

Crypto is often derided as a casino of the most degenerate sort. And it’s true. At some level, that’s precisely what it is. However, it’s a mistake to take issue with crypto on this basis alone. Speculation -- i.e. degeneracy by another name -- is, in some sense, fundamental; for all of human striving is conjecture. Indeed speculation is the means by which we actualise the future. It is, in the economic context, the act of taking capital and allocating it to a future that might be. It is futu...

“Crypto” is notoriously hard to grok. While this is partly a function of the conceptual complexity that’s inherent to the subject — transcending, as it does, disciplinary bounds — it’s also due to the fact that the very concept of “crypto” is itself a moving target; perpetually redefining, evolving, becoming. A quick history here is illustrative. In the beginning, crypto was digital money — “a peer-to-peer electronic cash system” . Then it was digital gold. Then it became about the data struc...

“Crypto” is notoriously hard to grok. While this is partly a function of the conceptual complexity that’s inherent to the subject — transcending, as it does, disciplinary bounds — it’s also due to the fact that the very concept of “crypto” is itself a moving target; perpetually redefining, evolving, becoming. A quick history here is illustrative. In the beginning, crypto was digital money — “a peer-to-peer electronic cash system” . Then it was digital gold. Then it became about the data struc...

Every industry is prone to self-serving hyperbole and delusions of grandeur. Given the obvious incentives, this ought to be expected. However, when it comes to self-image, the tech industry is singularly narcissistic. In this regard, it truly is special. According to the self-proclaimed merchants of progress, every new technological meta represents a “fundamental breakthrough”, a “revolution”, or -- on a rare modest occasion -- at least a new “paradigm”. Of course, very few technologies actua...

Every industry is prone to self-serving hyperbole and delusions of grandeur. Given the obvious incentives, this ought to be expected. However, when it comes to self-image, the tech industry is singularly narcissistic. In this regard, it truly is special. According to the self-proclaimed merchants of progress, every new technological meta represents a “fundamental breakthrough”, a “revolution”, or -- on a rare modest occasion -- at least a new “paradigm”. Of course, very few technologies actua...

Revolutions come in all shapes and sizes. Some are worthy of the name and change the world forever, while others fizzle out and become mere footnotes in the great book of History. Where exactly “Web3” will land on this continuum is, as of this moment, still to be determined, and, as such, the subject of much debate. On one hand, we have the “believers” - the apostles, evangelists, and high priests - who claim that Web3 will be the internet’s (and thus humanity’s) saving grace. While there are...

Revolutions come in all shapes and sizes. Some are worthy of the name and change the world forever, while others fizzle out and become mere footnotes in the great book of History. Where exactly “Web3” will land on this continuum is, as of this moment, still to be determined, and, as such, the subject of much debate. On one hand, we have the “believers” - the apostles, evangelists, and high priests - who claim that Web3 will be the internet’s (and thus humanity’s) saving grace. While there are...

The Internet is the new America — the centre of the world’s cultural and economic activity — and it’s currently undergoing something of a revolution. Where the overwhelming majority of the Internet’s activity is currently mediated by a few platforms (you know the ones), a small but steadily increasing portion of its value is flowing to a new class of Internet-native institution: “cryptonetworks”. Enabled by blockchains and smart contracts — and other esoteric concepts besides — what these net...

The Internet is the new America — the centre of the world’s cultural and economic activity — and it’s currently undergoing something of a revolution. Where the overwhelming majority of the Internet’s activity is currently mediated by a few platforms (you know the ones), a small but steadily increasing portion of its value is flowing to a new class of Internet-native institution: “cryptonetworks”. Enabled by blockchains and smart contracts — and other esoteric concepts besides — what these net...

Are memecoins merely emblematic of the degeneracy that’s come to define the cryptosphere, or do they instead represent a powerful, Internet-native fusion of culture and finance? Is this the future of both, or simply a Present we must escape? Unless they’re making you stupidly rich, memecoins are obviously and undeniably stupid; a violent affront to any self-respecting incarnation of intelligence. Besides the inevitable envy that follows from seeing a bunch of people print millions out of nowh...

Are memecoins merely emblematic of the degeneracy that’s come to define the cryptosphere, or do they instead represent a powerful, Internet-native fusion of culture and finance? Is this the future of both, or simply a Present we must escape? Unless they’re making you stupidly rich, memecoins are obviously and undeniably stupid; a violent affront to any self-respecting incarnation of intelligence. Besides the inevitable envy that follows from seeing a bunch of people print millions out of nowh...

Of all the meme complexes to circulate the Internet in recent years, Effective Altruism has been among the most virulent. This is rather curious, given that it’s a philosophy of — all things — philanthropy; of how to most productively give money away. In fact, so potent has this meme become that it’s begun to take on the shape of something of a cult, a secular religion for status-seeking yuppies and tech elites alike. However, as all cults tend to be, Effective Altruism has also grown increas...

Of all the meme complexes to circulate the Internet in recent years, Effective Altruism has been among the most virulent. This is rather curious, given that it’s a philosophy of — all things — philanthropy; of how to most productively give money away. In fact, so potent has this meme become that it’s begun to take on the shape of something of a cult, a secular religion for status-seeking yuppies and tech elites alike. However, as all cults tend to be, Effective Altruism has also grown increas...

To anyone paying attention, it appears we’re at an interesting moment in the history of the Web. On the back of ~60 years of Moore’s Law, the Web is now astonishingly responsive and high-resolution, and where >5 billion people (and growing!) are increasingly spending their lives. As remarkable as the Web is, though, it has — for reasons social, economic and technological — become concentrated in the hands of a very small handful of actors whose interests are proving highly misaligned with our...

To anyone paying attention, it appears we’re at an interesting moment in the history of the Web. On the back of ~60 years of Moore’s Law, the Web is now astonishingly responsive and high-resolution, and where >5 billion people (and growing!) are increasingly spending their lives. As remarkable as the Web is, though, it has — for reasons social, economic and technological — become concentrated in the hands of a very small handful of actors whose interests are proving highly misaligned with our...

One of the persistent criticisms of crypto is that it represents the ‘hyperfinancialisation’ of things; an obvious and unflattering symptom of our ‘hypercapitalist’ society. If we were to embed crypto into our digital operating system, the argument goes, it would invariably commoditise our online interactions, and thus, naturally, degrade them in some basic sense. Our lives are already financial enough. Therefore, we should seek to resist any further financialisation of the Web. Or at least t...

One of the persistent criticisms of crypto is that it represents the ‘hyperfinancialisation’ of things; an obvious and unflattering symptom of our ‘hypercapitalist’ society. If we were to embed crypto into our digital operating system, the argument goes, it would invariably commoditise our online interactions, and thus, naturally, degrade them in some basic sense. Our lives are already financial enough. Therefore, we should seek to resist any further financialisation of the Web. Or at least t...

One of the juiciest stories in recent Silicon Valley history is currently unfolding. In case you haven’t heard: over the weekend, Sam Altman, co-founder and CEO of OpenAI, was fired by his board for reasons as yet unclear. Immediately following the announcement — made via OpenAI’s blog — the Internet (i.e. X) went, as you might expect, wild. After all, Sam — affectionately known as ‘Sama’ — is no ordinary founder / CEO. Rather, he has become the public face of the AI industry as a whole, and,...

One of the juiciest stories in recent Silicon Valley history is currently unfolding. In case you haven’t heard: over the weekend, Sam Altman, co-founder and CEO of OpenAI, was fired by his board for reasons as yet unclear. Immediately following the announcement — made via OpenAI’s blog — the Internet (i.e. X) went, as you might expect, wild. After all, Sam — affectionately known as ‘Sama’ — is no ordinary founder / CEO. Rather, he has become the public face of the AI industry as a whole, and,...