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Chris Burniske @cburniske
, 8 tweets, 3 min read Read on Twitter
"World After Capital: Limits of Capitalism" via @albertwenger
original link didn't work, this one does:…
Capitalism is a social construct, and as with all social constructs, it too will evolve or be replaced over time.
@albertwenger nails 3 areas capitalism falls short:

"1) pricing missing for things that we should be paying attention to

2) limited mechanisms for dealing w/ power laws arising from digital technologies.

3) acts to preserve the interests of capital over those of knowledge"
#Crypto can be seen from a very capitalist perspective, where the free markets rule and all property becomes a private & digitized bearer instrument.
#Crypto can also be seen from a communist perspective (yes, i said it), where the algorithms that support society are transformed from private capital into publicly-owned commons.
In reality, I think #crypto will blend capitalism, communism & other economic disciplines into a hybrid that significantly alters how we organize and incentivize human activity.
And while it's an irony to say as a VC, we have to do a better job of prioritizing labor over capital in the distribution of #cryptoassets -- important for society, and important for seeding the utility of the network.
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