And here is a WAY to find the right VALUE of anything (a startup, art, a car, a commodity).
Let’s see who pays closest attention.
Philosophy tells us there is:
-objective reality (exists independent of us)
-subjective reality (what we believe about the object) and
-inter-subjective reality (what we believe other people believe other people believe...)
(How much of one thing we would give up for another, over time—and how much time/attention we give up for something)
we can choose and express preference over time (NOW or LATER).
The more untethered from the objective then the more intersubjective (and stories) matter.
He thought crypto had no intrinsic value, and art had value—because it was scarce. ..
@bgurley jokingly dubbed it the “Lone Belsky”
The mogul said it was worthless b/c it lacked provenance—which is to say it lacked a story (intersubjective belief)
This is Rippier Papel “Passage to L”. Valued at $16.8M.
Analysts and scholars have been pouring over the details...
(aka paper ripping) in action ;)