Liebreich and McCrone: Electric vehicles – It’s not just about the car – Bloomberg New Energy Finance
What’s significant about this dynamic is the effect it has on how value is distributed along the stack: the market cap of the protocol always grows faster than the combined value of the applications built on top, since the success of the application layer drives further speculation at the protocol layer.
Blockchain leads to value being captured increasingly in protocols. Fat protocols. From USV
But equally, anything with that much potential has a high likelihood of failure – if it was obviously a good idea with no risks, everyone would be doing it. Indeed, it’s inherent in really transformative ideas that they look like bad ideas – Google, Apple, Facebook and Amazon all did, sometimes several times over. In hindsight the things that worked look like good ideas and the ones that failed look stupid, but sadly it’s not that obvious at the time. Rather, this is how the process of invention and creation works. We try things – we try to create companies, products and ideas, and sometimes they work, and sometimes they change the world. And so, we see, in our world around half such attempts fail completely, and 5% or so go to the moon.
Look for bad ideas. From Benedict Evans
We don’t favor specific kinds of sources — or ideas. Our aim is to deliver the types of stories we’ve gotten feedback that an individual person most wants to see.
We do this not only because we believe it’s the right thing but also because it’s good for our business
Facebook explicitly saying that they’re building everyone’s private echo chambers. Taken from this great and very important piece from Ben Thomson. From my perspective, this is definitely not “the right thing” – social media platforms should be obligated to show multiple (as in also opposing) views on stories.