The educational flippening is coming.

Soon, spending four years and hundreds of thousands of dollars at a woke American madrassa won’t signal intelligence or employability.

Quite the opposite.
Who do you hire instead? People from around the world and in neglected parts of the US, people without a college degree and people from overseas.

The American college grad is becoming a much worse hire than the American autodidacts and the intelligent internationals.
To head off some objections:

1) Yes, these schools were once good. They’re now bad. Windows was a cutting edge developer platform once as well.

2) We’ll need a new, fairer, less expensive credentialing system; I sketched one model in this recent podcast. tim.blog/2021/03/25/bal…
Americans should be as concerned about woke universities as Pakistan PM @ImranKhanPTI is about Pakistan’s madrassas, and for similar reasons.

They’re teaching religion in lieu of science. npr.org/2019/01/10/682…

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More from @balajis

11 Apr
Trains are an 1800s technology. Very backwards-looking.

You want business travel at the speed of light? Invest in telerobotics.

Put on the headset and gloves, and start operating a robot in Madrid.
I spoke about this in 2013 and the tech keeps improving. Combine Double Robotics for telepresence, Boston Dynamics for humanoid robots, and Oculus Quest 2 for VR input/output.

The individual technologies for robotic telepresence exist.
Regarding latency, which is an issue for long distances, a few things:

1) Unless you’re making sudden unpredictable movements — not common in business travel — the onboard autonomy should be able to handle it.

2) Ideas from video-game-style lag compensation may also be helpful.
Read 4 tweets
25 Mar
VC funds that still can’t buy crypto in 2021 are sacrificing their returns in 2031.
I’m really surprised at how many professional tech investors *still* don’t get crypto, even as a $2T industry, even after 10 years of growth, even with BTC alone more valuable than every unicorn over the last decade combined.
It feels like a generational shift from internet to crypto, just like the desktop to internet shift happened ~20 years ago.

A fundamental backend and cultural change to how software is developed, funded, monetized, and used.

On disk, online, on-chain.
Read 4 tweets
23 Mar
Seed and A financing: disrupted.

Now that you can raise $5M/year online, the new strategy for any founder may be to (a) set up an equity crowdfunding link, (b) get a few brand name angels, and (c) tweet it out and have them RT.

Easier for everyone. And way faster.
The concept of users/customers as investors directly overlaps with crypto as well. See this post from 2017. news.earn.com/thoughts-on-to…
Every part of the angel/VC pipeline is being disrupted by online tools.

Angellist: raise rolling fund online
Republic.co: raise equity online
Carta: put cap table online
Token sales: fund your protocol online
USDC: send wires online
Twitter: build relationship online
Read 4 tweets
23 Mar
Many asking how they can bet on the Indian economy.

In theory you’d buy the rupee, just like buying BTC/ETH is going long on the cryptoeconomy.

In practice it might be more like buying an index of the top Indian tech cos and VCs.

But there’s something to the naive idea... 🧵
The progression of tech:

2000s: tech companies
2010s: cryptocurrencies
2020s: startup cities
2030s: network states

Just like you go long on companies & cryptos by buying their stock or token, so too will you be able to go long on new cities & countries by buying *their* token.
Today you go long on cities and countries by buying bonds. But those have many issues, and don’t offer venture returns.

For new startup cities and network states, you can buy the native digital asset. Since they are going from 0 to N citizens, the upside is far greater.
Read 4 tweets
17 Mar
Video games somehow never fully broke through to the highest levels of culture, but NFTs did.
You might dispute the premise, as of course there are AAA games with serious plots and reviews. But the association with children playing and populist fun has sort of held games back.

NFT prices, by contrast, vault them into a kind of stratosphere. You can’t help but look up.
It may turn out that the presence of expensive verified NFTs is what distinguishes video games from virtual realities.
Read 6 tweets
16 Mar
A digital rupee will need to do everything a rupee can do. That includes foreign exchange.

Which means the digital wallet that holds digital rupees will have to facilitate trade against *other* national digital currencies.

In practice, this will likely be via crypto exchanges.
Put another way, a digital rupee won’t be closed off from the global economy.

To the contrary, it will be more freely traded for other assets, domestic *and* foreign, than the current quasi-digital rupees held on bank ledgers.

Just compare USDC to Fedwire to see the future.
Setting up a digital rupee & thinking it can be air-gapped from the cryptoeconomy is like setting up a website & thinking it will only link to itself. 🙂

A website’s value, in part, comes from its links. A currency’s value, in larger part, comes from its links to other assets.
Read 5 tweets

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