Barista, farmer, dockworker, lab tech.
Firefighter, captain, soldier, postman.
Cameraman, surgeon, truck driver, pilot.
Factory worker, construction worker, warehouse worker, retail worker.
When labor becomes electricity, the cost of physical goods hyperdeflates. The robotic economy holds the promise of making everything far cheaper, of ushering in an age of abundance.

We just need to get to the other side of this coming economic disruption in one societal piece.

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More from @balajis

2 Jan
This article by Mearsheimer and @stephenWalt from 2016 holds up well.

I think they'll eventually win the argument as the US, by necessity, moves away from what they term liberal hegemony and towards offshore balancing.

I do have two thoughts, though… 🧵
mearsheimer.com/wp-content/upl… ImageImage
First, there is actually a structural similarity between liberal hegemony and offshore balancing.

The entire NGO industrial complex doesn't want poor countries to become wealthy. In fact, it hates those who become truly independent via capitalism.

They want pets, not partners. Image
NGOs do have a self-interest, but it's undeclared. Their self interest is in being seen as saviors.

The alternative approach? Invest in the ascending world. Shared *risk* and reward. Capitalism is for equals, equal partners in the deal. @mwiyas @iaboyeji
priceonomics.com/what-happened-…
Read 10 tweets
2 Jan
The emerging strategy for Bitcoin is to prioritize policy advantage over technology advantage.

For example, Bitcoin is primus inter pares in El Salvador, the first digital currency with sovereign recognition.

The L1 tech layer will not change much, but the L0 policy layer can.
Like @twobitidiot, I've been working on BTC for ~10 years. Helped onboard billions in capital & millions of users.

I'm not a maximalist. But mononumists & polynumists are aligned on getting BTC legal recognition. Can debate next steps after we get there.
numism: the study of coins
mononumist: only one coin
polynumist: many coins

It's similar to the difference between Abrahamic and Dharmic worldviews. Monotheism vs polytheism. Image
Read 4 tweets
30 Dec 21
The internet increases variance.

Social media increases social volatility.
Going viral, getting canceled, large gains or losses in status.

Digital currency increases financial volatility.
Going to the moon, getting rekt, large gains or losses in financial status.
We're still in the middle of this ongoing social and financial earthquake.

The internet has given a voice to the voiceless, taken the prestige from the prestigious, given a bank to the bankless, taken the power to print from the printing press.
Some of these changes are transient, here today and gone tomorrow. A viral joke or social mob, now forgotten. An unrealized capital gain or loss, not life changing.

Others may be more permanent. People from nothing rising to the top, people at the top falling to the bottom.
Read 6 tweets
29 Dec 21
Note that @AarikaRhodes and @RoKhanna are Democrats, while @bgmasters and @JDVance1 are Republicans, but they all support Bitcoin. You can donate across the aisle, 50% D and 50% R if you are a single issue pro-Bitcoin voter.
Read 7 tweets
27 Dec 21
I wrote up a detailed piece on how we can combine web2 and web3 tools to automate the mess of angel investing.

The key concept is a mirrortable, which is to a cap table what a stablecoin is to a fiat currency.
balajis.com/mirrortable
The mirrortable is a non-ideological productivity improvement for angel investors. You don’t need to want to End the Fed to end the process of chasing documents across dozens of apps.

This post is the 5300 word expansion of the 280 character remark below.
Why do we want to streamline angel investing? So we can invest in more founders, in more countries. So we can decentralize the process of wealth creation, backing people in the Midwest and the Middle East.

Here's the feature set we'll want to do that.
balajis.com/mirrortable/
Read 4 tweets
26 Dec 21
How to limit volatility?

In web2, load balancers[1] improve worst case latency at the cost of a little guaranteed latency

In web3, collars[2] improve worst case financial expense at the cost of a little guaranteed expense

[1] cloudflare.com/learning/perfo…
[2] investopedia.com/articles/activ…
If you plot a histogram of latency before and after the introduction of a load balancer, you'll often find that average latency gets a bit worse (as you need to do two hops: load balancer and then server), but worst case latency gets way better.

Often an acceptable tradeoff.
Similarly, if you plot a histogram of expected financial profit before & after buying a collar, you'll find that the average profit gets a bit worse (due to the cost of the collar) but worst case profit gets way better.

Also often an acceptable tradeoff.
investopedia.com/articles/activ…
Read 7 tweets

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