Making Sense ep 259 - Balaji Srinivasan (podcast)
at the early days of the Internet, legacy entities thought that it was another channel: TV magazine radio Internet. But it really subsumed everything: Internet TV Internet magazines Internet radio. it’s a protocol, a medium. Blockchain and cryptocurrency’s are like that right now. It’s a misconception to think there is just another asset class, it will be the backbone that all assets and other things ride on
When you cut off the possibility of acquisition you cut off the number of buyers in the market, which means less money for venture capital, which means less start ups.
The regulatory state is designed to handle centralized systems, by corporations and large agencies. Not individuals on a massive scale.