Stasis

A world where AI does stuff — a lot of stuff — is coming.  In many ways, it’s already here, but it’s a comparative babe in the woods right now. We don’t yet know when AI takes over transportation, business logistics and...

Efficiencies

Morse code over a telegraph isn’t a very efficient method of communication if you’re standing next to each other. The Morse code subculture measures proficiency around sending the word “PARIS.” Those five letters require 50 “dits”...

FTX, SBF, and Crypto — No Adults in the Room

What defines one as an adult? Is it age? Is it experience? Is it worldview? Is it conduct? It’s some combination of all these, yet hard to define objectively. The paradox of startups and organizations that make change in the world is that they are quite often...

FTX, SBF, and Crypto — A Volatile Asset Class

Crypto as a concept isn’t the reason that FTX failed and SBF went to jail, but crypto as a volatile asset class is definitely one head of Cerberus. The first head was that FTX and Alameda operated as a run-of-the-mill Ponzi scheme. That was illegal, and...

FTX, SBF, and Crypto — A Ponzi scheme

The first problem with FTX, and the big reason why SBF went to jail, is that it was a plain ole Ponzi scheme. SBF owned two companies: Alameda Research — A standard hedge fund (that traded in crypto) FTX — The crypto exchange (place to...

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