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, 4 tweets, 1 min read
Companies used to have cap tables.

Under the Warren act they will also have crap tables: a group of “stakeholders” without any money at risk who are there to give you crap.
The next step after shareholder capitalism is not “stakeholder capitalism” (death by a thousand vetos) but blockchain capitalism.

Bitcoin and Ethereum have shown us a way to allow anyone to invest in a new technology, taking both risk and reward.
Silicon Valley was built on the cap table. A way to economically align people from all around the world to build companies like Google.

Crypto allows us to scale the concept of a cap table to millions of people from around the world. news.earn.com/thoughts-on-to…
We all want to make people wealthier.

But the answer is crypto, not veto.

Rather than millions of people with vetos over previously functioning businesses

We want millions of people with crypto stakes in new companies, protocols, and tokens

Shared risk, shared reward.
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Balaji S. Srinivasan
@balajis
Bitcoin will become the flag of technology.
Not every flag represents a geographical entity. Some of them represent movements, like the rainbow flag or the Gadsden flag.

Bitcoin becomes a flag in this sense, as the encoding of technology's values: internationalist, capitalist, decentralized.
A flag is something to align around. Bitcoin is many people's first choice and many people's second choice, which means it will become the community's first choice.
Read 7 tweets
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Balaji S. Srinivasan
@balajis
This is what the future of truth on the internet looks like.
Lest we think establishing a timestamp doesn’t matter, it shows that a digital object (“what”) was hashed at a particular time (“when”) by the possessor of a private key (“who”)

That is half of the classic “who, what, when, where, why, how” of a news story.
As another example, digital timestamps refuted some of the fake news about Brazilian fires.

Specifically, a photo shared by French President Macron and embedded in an NYT article was shown to be from 2003 at the latest. motherjones.com/environment/20…
Read 4 tweets
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Balaji S. Srinivasan
@balajis
Ha! Who would best manage the budget of SF, a failing city that nevertheless has 880k people & spends $12B/year?

Retired music professor
Preacher
Small business owner
Behavioral clinician
Retired airport analyst
Current mayor
CEO of Facebook

(From a friend. I’m out of SF!)
My friend picked London Breed as his first choice. I think the preacher would be more appropriate as SF can only pray for deliverance.
In seriousness, the tech model doesn’t yet work to reform legacy institutions.

It can do wonders with a clean slate, economic alignment, and empowered management.

SF city government is the opposite of that.

But there may be other routes that don’t involve touching SF at all.
Read 3 tweets

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Yorick de Mombynes
@ydemombynes
My 116 favorite quotes from Money: Sound and Unsound, by Joseph.T. Salerno (2015)
@jtsale @mises #AustrianEconomics #SoundMoney
1. “The idea of sound #money was present from the very beginning of modern monetary theory in the works of the 16th-century Spanish #Scholastics who argued against debasement of the coinage by the king on ethical and economic grounds”
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1/ We are at a pivotal point in time where it is CRUCIAL to awaken to our Rights, by arming ourselves with knowledge regarding widely unknown history of America & Corp. USA, as well as natural & man-made law. This reposted thread is long, but critical info:
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Amanda G.
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Born & raised in #Fanar #Lebanon, a tiny country in the middle east with a lot to offer. I always had a positive outlook on life maybe because of the culture or values🤷‍♀️.
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I have my issues🤷‍♀️! I always wanted to prove myself & make my family proud(2nd child). A pressure that was just in my head; they were always proud of us. I wanted to grow up to be a doctor or an army officer like my dad. Let's just say I changed my mind! #VoicesIWS @IWS_Network
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Michael Wiik
@mwiik
# Exploring Tweetbonds

Continuing speculations on building an informal economy of sorts using standard Twitter functions only.

See the below for the initial draft, though Ive evolved the idea since then
If someone deletes a Reply to you, there is no record that such a Reply ever existed(*). One could of course make a screenshot (aka screencap) but screenshots can be faked to say whatever you want.

(*) Actually, twitter may retain the Reply, I dunno.
Quote Tweets (QTs) are a different matter. A nested set of QTs, entered in reverse order & punctuated in specific ways, can be made 'secure' in the sense that

1) You can't add to the initial tweet, and
2) You can't add to the final tweet w/o some break in a punctuation protocol.
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