Onchain Capital Structure
Building businesses with a fully onchain capital structure: programmable revenue, embedded financing and tokenized equity.
Permissionless Capital, Global Consensus and New Markets
Crypto’s unique properties are permissionless capital formation and global consensus. Its best use is creating new markets people want to trade in.
How many abstractions do we need?
Chain abstraction is a VC fix for a VC-created problem. The real abstraction will come from whoever builds the most popular app, like Galxe.
Wedge is the Founder’s Edge
Or why you should never aim to capture 1% of a $1 trillion market. Why the wedge, not the TAM, is the founder’s real edge, with examples from Uniswap to Amazon.
Crypto Chats for Crypto Chads?
Why most crypto messaging fails, and how chats can win on utility (smart messages, on-chain data) and status (on-chain identifiers) rather than X-on-blockchain.
The Future Of Medicine Is Tokens
The DeSci thesis: permissionless capital formation for science, IP-NFTs, and why value accrues to scientists, DAOs and vertical marketplaces like Molecule.
Crypto Products, But Increasingly Useful
Applying Bill Gurley’s Increasing Marginal Utility (IMU) to web3: how social, curation and search products like Lens, Tribz, Shil.me and Sepana can lock users in through switching loss.
Why ATOM 2.0 Is Not Really A Gamechanger (Part II)
A breakdown of the ATOM 2.0 proposal: Interchain Security, Liquid Staking, Interchain Scheduler and Allocator, the new inflation schedule, and implications for Cosmos DeFi.
Searching For Scale And Value Capture In The Cosmic Noise (Part I)
A deep dive into Cosmos scaling: horizontal scaling, Interchain Security, L1 smart contract platforms (Evmos, Neutron, Juno, Archway) and modular blockchains (Dymension, Saga, Celestia).
The Bridges Are Dead, Long Live The Bridges!
The case for Generalized Messaging Protocols over token bridges: architectures of Axelar, Abacus, Nomad, LayerZero, Wormhole, XCMP, IBC and Chainflip, plus cross-chain app use cases.