Thinks 541

Tyler Cowen on the best question to ask a job applicant: “What are the open tabs in your browser right now?”. Tyler adds: “The question measures what a person does with his or her spare time as well as work time. If you leave a browser tab open, it probably has some importance to you and you expect to return to the page. It is one metric of what you are interested in and what your work flow looks like.”

Saneel Sreeni and Leo Zhang: “Commodities are basic raw materials that serve as the basis for the production of everyday goods and services. The history of commodities is a reflection of civilization itself. Humans waged wars against each other to seek control over the most important resources; from rice, to metals, to spices, to oil. As more aspects of the global economy and daily activities migrate to the cryptoeconomy, what will become the most sought-after commodity of the new era? Blockspace. All economic activities on public blockchains settle on blockspace. Consensus producers, such as miners and staking validators, supply blockspace, while every transaction demands blockspace. When on-chain activities increase, network fees increase, and when the value of the block subsidy and fees increase, more people are motivated to compete to append the next block to the blockchain. Since blockspace is a commodity, it can be used as a basis for financial instruments — either to hedge against production or enhance returns. Such financialization ultimately leads to a comprehensive capital market, akin to the way all important commodities have evolved throughout history.”

The Ownership Economy 2022: “Creators don’t own their content, developers can’t control their code, and consumers can’t influence the policies or decisions of the platforms they use. This scenario, which once went unquestioned, looks increasingly archaic.  This is starting to change via the ownership economy—often referred to as web3—with products and services that turn users into owners. What started with Bitcoin and Ethereum—both of which reward participants who secure the network with their native tokens—is becoming prevalent across all categories of software, from developer infrastructure and new financial markets in DeFi to consumer products, marketplaces and social.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.