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Vinay Gupta @leashless
, 3 tweets, 1 min read Read on Twitter
Vitalik is wrong on smart contracts.

They *are* contracts. Contract automation will make deals as reliable as iPhone manufacturing. Vast global value networks of unprecedented scale, complexity, and interdependence.

Contracts that look like hyperlinks, tying value together.
You have to look at this from the future backwards. In 2035 when I get in a *manual drive vehicle* my phone is automatically going to provision medivac insurance for my trip. That's going to be a smart contract.

This is where we are going. Same architecture for small & big deals
A smart contract is to matter what a hyperlink is to information.

Correct implementation of smart contracts gets us efficient digitisation of material reality.

We are inevitably going to digitise matter. We've done information, matter is next. This is @Mattereum's mission.
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@disitinerant @BretWeinstein A 1200 apartment block of SF would most probably be owned by a REIT which, in turn, is likely to be owned by a en.m.wikipedia.org/wiki/Pension_f…

The billionaires Vs the multi millionaires *doesn't affect most of us at all* - the real bleeding is lower down the pyramid.
@disitinerant @BretWeinstein The real damage isn't done by Bill Gates or a handful of people that own vast seas of stuff. It's all paper money, and the underlying assets are used the same way as any other PLC.

It's the vast middle class and their political power which keeps the poor poor. The rich distract
@disitinerant @BretWeinstein The System is suburbia and the local landowners with $50m in assets, not a few astroid-sized outliers. It's the vast herd of top 10% that do the real pushing and the real beating down.

That's why we need systemic politics, not just an occasional French Revolution, to fix it all.
Read 7 tweets
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There's a funny thing I keep noticing. Really good stuff comes at two price points: *cheap* but you have to really do some digging, and 10x the price, and you just type it into google. Let me post a couple of examples in this short thread.
Fountain pens for a tenner google.com/search?ei=zigk… but it doesn't sing until you add ebay.com/sch/i.html?_fr… total system cost below £15, and writes as well as anything you're going to come across. But the supply chain is fragile. Edge of a trade network, wobbly shipping, comms.
Backpacks, compare amazon.co.uk/AI-ONE-Tactica… to leaf.arcteryx.com/ch/en/shop/ass… These things are *remarkably* similar in basic concept, if not in materials and execution. One of them is 15x the price of the other. But there's a sea of 1900 molle packs which are in that general format.
Read 20 tweets
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There is no denying the entire crypto world has gotten a solid punch in the head for irrational exuberance. It's not the first time we've seen this, dotcoms went through it too. Then they took over the world, and began to bat on a peer level with nation states (see: Zuckerberg.)
And, let me tell you, it's a lousy time to be @mattereum. Massive, wonderful press coverage right at a time when half of our investors catch pneumonia. techcrunch.com/2018/11/11/mat… These are those rough times entrepreneurs look back at later, and then order two more drinks. :-/ hard!
Here's Fred Wilson from the last bitcoin crash avc.com/2015/02/the-ca… talking about Carlotta Perez and how crashes are integral to the innovation cycle. We've been here before: note how short the crash-rebuild cycle is compared to the dotcoms. We have *much* faster clocks today.
Read 4 tweets

Related threads

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.@washingtonpost profile of @FedSoc recreates "Scene at the Signing of the Constitution of the United States" with the Justices and modern political players. Very well done. washingtonpost.com/news/magazine/…
The Constitution also recounts the Obamacare origin story at the Mayflower with me, @RandyEBarnett, @ToddGaziano, Nate Stewart, and others #Unprecedented
The article accurately explains that the value of @FedSoc conventions is not in the panels, but in the hallway of the Mayflower.
Read 3 tweets
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Smart contracts don't replace people. They replace the State.
The ultimate value of smart contracts is that they give you a powerful enforcement mechanism that isn't reliant on your local government institutions.
The parties agreeing to a smart contract can decide how the contract is split - which parts are decided by people, and which parts are code. Smart contracts can include human decision-making. "'Ask a human' is a valid step in computational law" says law prof @orgoodenough
Read 4 tweets
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1) Electrical grid under attack?

You are watching a movie.
Let’s sit down and break it down.
This and other hypotheses and events.

It’s coffee time.
December 29, 2018.
2) There will be some intermittent pauses as I get set up and also research stuff.
3) If there is a silent civil war going on right now, the war has gone hot.

So my goal this morning is to pause and describe how we got here.

Observations, experiences, hypotheses + recent research.

To arrive at an educated guess as to what's next.
Read 36 tweets
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1/ Thread analyzing Judge O'Connor's ACA decision drive.google.com/file/d/1CAbrWy…
2/ The court found that the individual parties have standing, even though there is no penalty for going uninsured: there is no requirement to show economic injury to establish standing. The mandate, by itself, suffices.
3/ Moreover, a decision for the Plaintiffs would "free" them from mandate, so causation and redressability are satisfied.
Read 36 tweets
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An #unprecedented Great Game
By @narendramodi is making the #Chinese designs of #string_of_pearls A Big fail

👉Do you know how a #WeakRupee& #HighPetrolPrices in India is making #China anxious???

Please read this #Thread till end #RightFactsThread 🙏🙏

1/n
#China is building its #SilkAndBeltRoad project..& in its garb it is encircling India withThe Strings of pearls.

China is doing this with its sheer money power, by literally BUYING bases in India-Pacific region

Thankfully #TheUSChinaTradeWar provides India an opportunity.

2/n
👉China first Time in 20yrs faces a current account deficit and that too of $28.3 billion😀

👉Thus investments in string if pearls is hampered 💰🚫

👉The exports of China to the US & US to China is vacating a huge space

Now the #RealGame starts of @narendramodi and #RBI

3/n
Read 7 tweets
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Complexity rises at an exponential rate to the size of a project. This applies whether your project is business or personal in nature.
The corollary to that is that the risk of failure (of any scale) also rises at an exponential rate to complexity. And when you apply the first rule to the corollary, this means that the odds of something going wrong on a large project are near certain.
There's also another corollary, that time to work on even the basic tasks increases with complexity. (How fast sometimes depends.) Which means that a big project is almost certainly late and buggy.
Read 9 tweets

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