Verifiable, digital-only art is the trend of the moment.

AKA “crypto art” or “#NFTs” (non-fungible tokens), this work lives on the blockchain. Here's one of the better arguments for it.

A few critical thoughts...…
1) I'm all for artists having more ways to make money from their work & access more buyers who value it, in whatever form or medium.

2) There are two main perks crypto brings to the table: verifiability of ownership & elimination of middlemen, eliminating friction.

3) The downsides of #NFT are linked to the purpose art historically serves: a) investment, b) status, c) decoration. (Order varies per collector)

The immediate problem is (c), which precipitates problems with (b). You need to print it out to show off in meatspace. In digital...
In digital, #NFT=JPG. The minute it's displayed, it's replicated frictionlessly. It can appear on millions of screens at once. Everyone can claim ownership, unless there's an audit or owners tattoo on their blockchain history.

Digital intangibility affects status AND investment.
4) What's left is investment. NFT value, like art/cryptocurrency/luxury goods isn't based on utility or tech, but on belief. Once early adopter novelty wears off, you need enough believers to sustain a market. This is possible because the future is belief.
5) Main drivers of #NFT's are huge cash surpluses seeking viable investments & massive resources dedicated to squeezing utility/value from the blockchain. Early adopters will make some cash, but its old money that buys art, IRL. We'll see if those worlds meet.

To be continued...

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More from @ideafaktory

18 Feb
I was a huge radio fan growing up. Listened to Howard Stern, sports talk (WFAN), liberal (Lynn Samuels, Alan Colms), conservative (Bob Grant), crappy sex talk (Dr. Ruth) hosts. Even tried catching far away stations late at night.

I first heard Rush Limbaugh in college.

A friend from NYU made me Rush cassettes, hoping for a conversion.

Unlike cranky local NY conservative Bob Grant, Rush was a showman. He had the flair of a preacher. Not hard to see why he attracted evangelicals.

Unlike preachers, there was no feigned piety or niceness.

Rush was more menacing, with a thin veil of what he considered humor, like bad puns ("Feminazis") or cliche jokes about Chinese or blacks.

Having listened to Howard & watched standup on TV, I was not amused. Nor did I care about his targets. Back then, life wasn't politics.

Read 7 tweets
16 Feb

There are 3 types of games all of us play:

1) Foundational
2) Covert
3) Willful

Each is different, but they share one very important characteristic that rules our lives and emotions. And it's wrecking us!
1) Foundational games are ones we can't opt out of. For example, procuring money to buy essentials - food, clothing, shelter. In fact, survival is the ultimate foundational game & capitalism its economic avatar. Traffic laws (really, most regulations) are mandatory games.
We may not be happy playing foundational games, but opting out is virtually impossible since they are enforced to one degree or another everywhere.

2) Covert games are ones we don't realize we're playing. Most social norms fall under this category.
Read 11 tweets
21 Jan
Since my poem was not selected for the inauguration, I'll post it here:

My sister, my wife, we've had a good life
But America beckons to end its great strife
Heaven can wait as I rise to the cause
To strengthen our union with great ointments and gauze

Er, appointments and laws.
With Bernie behind me and troops all in front,
Is this still America or an active manhunt?
Still, I am honored to follow these honorable names
Lincoln, Carter and Gaga and her Hunger Games
Speaking of hunger, disease and despair,
It is time for a leader with wonderful hair
Not orange, not Tweeting, not licking his wounds
But killing off Covid with vaccines and prunes
Read 8 tweets
18 Jan
By embracing the righteousness of a singular worldview & morality, the tech industry, Hollywood & corporate media expedite their own demise & possibly America's.

It incentivizes competing platforms, indie artists & dissenters to chase forbidden fruit, taboo ideas & badboys.
The new "badboys" will be badder, craftier & less civil than their predecessors.

Pariahs & outcasts aren't bound by corporate bosses, fat paychecks & pristine reputations that once moderated them.

The force needed to contain them will not be democratic.
One solution is diffusion
-reducing federal power (see below)
-breaking everything (companies, communities) into smaller, viable units
-declawing mass social media
-migration from cities/population diffusion

The HOW is nontrivial, to say the least.

Read 5 tweets
14 Jan

I randomly looked up the bio of Itzhak Rabin, the prime minister of Israel, who was assassinated in 1995 - at the age of 73!

What a badass way to go!

When you're young, assassination sucks. Too soon. If you're lucky, your kids get a box of 100's from Tony or Igor.
But to get assassinated at 73 or 80? What a compliment! To still be considered relevant or a threat at that age!

"They still care, they really do!"


In a way, it's your last surprise party. Surprise! No prolonged suffering. No diapers. No grandkids forgetting your birthday. No watching your friends go.

There will be investigations, Wikipedia pages, Alex Jones conspiracy theories. Talk about legacy! You will be remembered.
Read 5 tweets
11 Jan

I've worked with countless CEOs, senior execs & professionals across industries like finance, tech, consumer goods. I've hired, employed & promoted dozens from every background.

This is the relationship between discrimination & power I've observed.

1/8 Image
Undoubtedly racism, sexism & other biases still exist. I've heard some crazy stories from female & black colleagues. However, their incidence is fading. I'm profoundly optimistic about our trajectory for one simple reason: SURVIVAL.

We talk about tolerance. In business, one thing that's rarely tolerated (for long) is failure.

EVERYONE wants to do a good job, get promoted, get a raise, look good in front of peers & bosses.

THAT impulse is the single most powerful anti-racist tool we have.

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