It's been mentioned several times that DeFi is simply speedrunning tradfi. Whereas asset management has origins in ancient Egypt primarily for inventory management and allocation, the bulk of innovation in asset management occurred between 1700 - 1960. Why has asset management grown to the estimated $120T industry it is today and what is its relevance to DeFi? This cycle has seen the rawest speculation, from hamster races to FriendTech's social tokens, culminating in the controversial pumpdot...