the two big things most tokens are missing today are a clear and unruggable value-accrual mechanism, and a believable growth story rainbow foundation holding 20% of equity seems like a good improvement on the former, but have a bunch of questions around the latter live in 5
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the easiest bull case for the broad proliferation of prediction markets is that they unlock a new killer business model for traditional media, an industry that’s spent 20 years struggling to monetize the internet once the old guard embeds markets into content and gets a taste for monetizing order flow, they're going to do everything they can to drive volume kalshi partnering with cnn / cnbc for data integrations are the early innings of this (not even mentioning the immense opportunity for social media companies)
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this convo with abhay and austin was so good.. - digging into two wildly ambitious visions: "we're giving everyone a free phone plan" and "we're building a new internet" - what makes tokens valuable and why it isn't traditional fundamentals - why depin tokens have under performed and what people are missing - what they've learned boostrapping new networks and the importance of getting to the demand side as fast as possible - why buybacks using fees are a complete midcurve token model - the eroding of previous core tenets of crypto and what comes next - why the developing world is going to skip equities and go straight to memecoins / tokens like they skipped landlines and went straight to mobile highly highly recommend a listen https://x.com/11AMdotclub/status/1999695100138729481?s=20
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