Thread by @cburniske

As crypto peeps reel from bad Sushi and a two-faced @NomiChef, few pieces are more relevant to read than this one: otherinter.net/squad-wealth/

Be wary of those that emphasize the *ME*

Join those that have a plan for the *WE*

Why does crypto tend to have a bad social rap?

Too much *ME,* too little *WE.*

But the VIBE of SQUADS is changing that ✊

"Whether housemates or friends sharing a Discord group, squads allow social currency and financial capital to inter-convert, creating opportunities and group resiliency that would have been impossible to achieve alone."

"With new plug-and-play financial tools, squads are becoming more economically and socially resilient.

Individuals may have limited access to compounding returns, but groups have greater flexibility to move along the risk-reward curve."

"Recent events have completely exposed the limits of individual agency, creating a powerful demand for squad-based forms of resiliency...today's emerging culture of group cohesion is driven equally by the social and financial precarity of urban life."

"Squads are woke to the empty neoliberal promises of gig-economy 'employment' and para-social personal brands.

Squads value self-determination, not through individualism, but through collective maintenance and care for one another."

"Squads have little use for internal financial incentives.

Instead, playful exchanges produce trust, reciprocity, and VIBES—the ineffable group energy that squads value most.

Accordingly, the core of squad production is the continuous production of the squad itself."

"Though dollars keep squads afloat, dialing up the financial infrastructure too soon can kill the vibe. The squad economy primarily yields non-monetary forms of value."

"Contributions to the squad are positive-sum. And in return for their contribution, members have access to an expanded set of opportunities, claims on future economic flows and guarantees backed by the group."

"The point is clear: access to finance and the creation of capital assets is crucial. What squads need now is the technical infrastructure to capture and compound jointly produced value." --> this is where #DAOs are going to 🚀

One of our great challenges in crypto is balancing financial incentives for global sustenance, with non-financial incentives to maximize the VIBES of local coordination.

Everyone designing crypto-systems needs to deeply consider the balance between extrinsic and intrinsic incentives.

Extrinsic incentives do NOT solve everything:

We all need enough extrinsic incentives (mainly, $$$) to survive, and those extrinsic incentives need to be fairly accessible, which #crypto is doing a decent job of enabling.

But once the extrinsic is secured humans tend to go intrinsic, searching for where the VIBES are. The VIBES have the meaning we all seek.

Thanks again @lottiland @hxrts @tobyshorin. This was the most impactful crypto-related piece I've read this year: otherinter.net/squad-wealth/