Tag: Capitalism

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Finance Startups

Day 1147 and Balkan Crypto

I’m in the Balkans for a few weeks doing some scouting and visiting with friends and colleagues. The western Balkans including Albania, Croatia, Bosnia and Herzegovina, Bulgaria, Serbia and Montenegro are known for their occasionally colorful participation in cryptocurrencies.

The region has experienced currency volatility, struggles with central banking and even in Albania a civil war stemming from a financial crisis over government Ponzi schemes.

These negative experience with currency instability, government corruption and sociopolitical unrest has led to a desire to experiment with transparency and decentralization amongst the region’s youth.

The ecosystem is host to serious projects has a talented base of engineers. Ripple is experimenting with a national stable coin in Montenegro. Zuzalu, the two-month invite-only gathering that Ethereum blockchain co-founder Vitalik Buterin led in Montenegro has been a regional hub. And it has inspired a new grants program Zu- villages that strikes me as a cross between network state and a DAO with Gitcoin.

In an editorial in Bitcoin Magazine the founder of the Belgrade Bitcoin Hub summed up the “why”

As a result of years of unfulfilled promises from regional politicians, people of the Balkans are hard to convince about the long-term benefits that can be realized by adopting Bitcoin in one’s life. A low time preference way of life to most people in this region is associated with disappointment and the lowered standards of living that have happened many times before.

Plumski founder of the Belgrade Bitcoin Hub.

Categories
Community Startups

Day 1145 and Vitality

The most gratifying part of early stage startup investing is the vitality. When you are in the mindset of optimism, all things are possible.

I first met Isaiah Taylor about a year ago. We found each other on Twitter. I cold DM’s him with “you seem interesting.” We’d hop on the phone and go through what he was working on in long strategy talks.

I think in our first conversation we spent half an hour just discussing origin stories. We’d both had strongly American west families and we were neighbors in the upper Rocky Mountains. We shared a Christian faith. I liked his style.

Those early rambling sessions when a founder is discovering their market and their unique talents is a precious time. I knew I wanted to invest in him long before Valar Atomics had come into focus.

Ambition and vision are honed over time as you broaden your horizons. It’s the most fascinating tension. The bigger you dream the more you must see your path clearly and pursue it relentlessly. Vitality begins with knowing where to apply your will.

I feel the optimism that Isiah has brought. And I admire how he has taken it to a bigger community. Watching the El Segundo community self-mythologize in real time during this weekend hackathon has been an exercise in collective application of will. Like its cousin in techno-optimism e/acc , the American dynamism “new vitalism” egregore values building for the future.

@ADoricko and @isaiah_p_taylor opening up the Gundo Defense Tech Hackathon via Rasmus

Categories
Aesthetics Internet Culture Politics

Day 1142 and Come See The Violence Inherent in the System

While parked in gridlock caused by the American state department delegation snarling traffic in Tirana, I shared a classic British comedic sketch from Monty Python’s The Holy Grail with a friend who resides part time in the Balkans.

King Arthur is riding through his lands and is asked to contemplate anarcho-syndicalism and the constitutional arrangement most equitable to an offended peasant named Dennis.

Help! Help! I’m being repressed

Monty Python and the Holy Grail

Feeling moderately repressed ourselves by the various bureaucrats, politicians, and general institutional disarrays that was in our way, the joke hit home. No matter your station in life, we are all a repressed in someone else’s system.

We can make jokes about staying above the API layer all we like, but the nudging organizational state is finding ways to reduce us to variables. Many of us have become spreadsheet brained. Will it be a gradient descent into the madness of a jackbooted local minima?

Perhaps it better to become the disassociating trader acted by Paul Bettany in Margin Call who simply can’t stomach that level of hypocrisy. He knows we want to play innocent about the violence hidden underneath the abstractions.

“Listen, if you really wanna do this with your life you have to believe you’re necessary and you are. People wanna live like this in their cars and big fuckin’ houses they can’t even pay for, then you’re necessary. The only reason that they all get to continue living like kings is cause we got our fingers on the scales in their favor. I take my hand off and then the whole world gets really fuckin’ fair really fuckin’ quickly and nobody actually wants that. They say they do but they don’t. They want what we have to give them but they also wanna, you know, play innocent and pretend they have no idea where it came from. Well, thats more hypocrisy than I’m willing to swallow, so fuck em. Fuck normal peopl

Will Emerson (Paul Bettany) Margin Call

We are all experiencing some level of abstraction from the base layers of reality. Some of us are more academic about it. Some of us are simply more or less unwilling to accept the hypocrisy of it. None of us can opt out completely. Plenty of professions let you get closer to the visceral base reality and then you too can see the violent inherent in the system.

And so we argued over resources and raw power. How abstract can we get? The paleoconomists say “go back to the gold standard” but we can’t. Can we go forward though?

Most of us see that entirely detaching the exchange value of goods from material items and their underlying value is a huge struggle for most people. We wouldn’t have endless discussions about the cost of groceries if it was clear to folks how the market priced physical goods.

Financial markets are fictions where we negotiate material needs like food, shelter, clean water, bodily integrity, and property ownership claims. All need to be priced in. It isn’t fun when the exchange value mechanism completely detaches from that reality. It makes us uneasy. Shrinkflation makes humans feel gaslit.

Humans are physical beings who abstracted our physical needs into an elaborate market system of exchange values. And like that Monty Python sketch, sure it’s a fun joke, a meme if you prefer, but that meme is a reminder to see the violence inherent in the system.

Anyways, I hope Antony Blinken enjoyed his time in Albania and that everyone has a productive weekend in Munich for the neutral ground security conference. Our diplomats have never needed a neutral ground weekend more amirite? The financial engineers will concede that reality. Maybe.

Categories
Aesthetics Internet Culture

Day 1141 and Blind Optimism

The specifics of it aren’t important, the fact of the matter is that it’s been “one thing after another” for me. I bet you know the feeling.

I felt grateful be enjoying a lower friction global homo cosmopolitanism for the night. I need something be smooth brained for a little bit.

I got middle rent generic Mediterranean street food delivered through an intermediated mobile app for dinner. And then I turned on Netflix to settle in for the most middle brow content. There is another season of Love is Blind.

I am a sucker for this show. There is something so optimistic about a blind dating marriage reality show. If you had been doom and gloom for so long imagine opening up all post-pandemic with your shiny therapy emotional journeys.

It strikes me as a pop culture cousin to effective accelerationists. Nothing says accelerate quite like committing. Marriage markets would be very e/acc.

If I have to keep living I may as well do it with the hopeful optimism of someone who throws themselves into their future. All in. I really admire the optimism.

Categories
Travel

Day 1140 and Gridlock

I got myself stuck in downtown city gridlock today. Abs boy am I glad I rarely have to navigate the kind of bumper to bumper traffic of an overbuilt city without a grid. It is no picnic.

There is a category of city that has little in the way of urban planning. They may have legacy of a time with much fewer cars when only a small portion of the citizens could afford to drive.

As cosmopolitan creative classes become wealthier they too want to be able to drive in their city. The money pours in to invest in newer developments and more modern amenities get built. But they never really solve the lack of a grid or roads built for driving.

A lack of proper investment in public transportation only compounds the issue.

Attempting to criss-cross a mess of cars, motorbikes, scooters, and couriers all competing against each other with few clear routes is a slog. I hope I don’t have to repeat it again but I fear this is a permanent feature of some cities.

Categories
Startups

Day 1125 and Planting Seeds

I like to get to know founders over time. It’s a canonical piece of advice passed down over venture lore that one should invest in lines not dots. Consider the messenger of course.

I’m sure to founders it can feel a bit self serving of investors to want to see a lot of traction before a commitment. That’s not what I’m talking about. I think as an investor, we have an obligation get to know a founder’s character and their approach to problem solving. Especially if you believe their opportunity to be enormous.

At the earliest stage our responsibility is to assess your capacity to overcome obstacles and to improve your skill sets to match. We need to know you will grow and flourish.

Nurturing a seed is the entire metaphor behind early stage investing. A seed round is such an optimistic name. If we must extend the metaphor that we are planting seeds then the work starts before anything goes in the ground. Good soil, good weather conditions, and the right timing matter a lot.

The anxiety inducing part of this is that my approach years I take time to cultivate potential founders for years. I never quite know when someone will go up for a fundraise. I have to wait and see.

But when it does happen. It’s such a miracle. No finer feeling in the world than having cultivated the right conditions for something to grow.

Categories
Media

Day 1115 and Jangling

Trying to make a buck on the internet usually means knowing your audience. And knowing when your audience will pay.

I keep hitting paywalls on blogposts and I think folks really over estimate the value they deliver to readers. You want to sway my viewpoint to your side but instead you jingle your penny jar for a captured audience of seals. The audience capture that has to happen to make someone really take off requires some pandering. People like their echo chambers.

Because I myself am serious about persuading people to shared ideals it offends me when otherwise useful pro-social content that would drive forward the adoption of better information is needlessly cut off for a “below the fold” $60 a year subscription that is thrice what I pay for Vogue.

If you are selling useful actionable services that make other people better in some measurable way it’s not too hard to close a fair deal on the internet. There are lots of businesses with lots of valid marketing funnels.

But if you are trying to persuade people to an ideal or some truth that you believe must be shared I beseech you to share it widely. We humans operate such fragile nodes of coordination. We must actively work to align people to causes. Propaganda and self interests can only win out over aligned incentives if we give our attention the loudest bidder. Don’t contribute to an information environment like that.

Categories
Emotional Work

Day 1113 and Sorry Can’t

I dislike days where I spend too much of my energy doing stuff as it prevents me from spending time synthesizing stuff.

Of course, and I hope this is obvious, the opposite problem is much worse. If you spend too much time synthesizing stuff then you run the risk that you don’t actually do stuff.

You’ve got to keep your skills sharp with new conditions on the ground but you have to intake as much information in your field as possible.

“Sorry I can’t” is a strong signal. It means you are engaged in the productive middle of focus. Family is a productive middle of focus. Your business is a productive middle of focus. Your friends is a productive middle focus.

Maybe you picked something to focus on that someone powerful wishes you didn’t. Maybe you sold your focus to someone else. Maybe you are on the clock to a wider goal. The calculation of how we do that is best left to market forces in my opinion.

I will redirect my attention for someone that asks and shows me the incentives. I think it’s a worthwhile balance. If I believe my focus being redirected can help someone else execute on taking action I’ll do so. That usually means saying to someone else “sorry I can’t”

Categories
Media Startups

Day 1110 and Somatic

I’m upset. I feel it in my body. Soma apparently means “body” in Latin, somatic is “of the body” so to have a response in your body is a somatic response. I’m having a somatic response.

I’ve been surprised at the emotional campaigns that have been waged against technology in the general, and artificial intelligence in the specific, as of late. But I am starting to feel the emotional weight of the collective fear and emotion in my own body. Futureshock is here and the fear mongers are here to tell you and I that we should be afraid.

This weekend there was op-ed was published in IEEE entitled “Open Source Artificial Intelligence is Uniquely Dangerous.”

The o-ed was written by David Evan Harris who is a chancellor’s public scholar at UC Berkeley. He used to work a Meta on ethical AI. Now this not the opinion of IEEE which is calls itself “the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity.”

You’d think that sort of mission would be a little more on board with new technologies. But maybe David is just an extreme voice. Op-Ed’s are meant to represent a variety of opinions after all.

But how should I feel about the benefits of technology when it’s presented to me like this? They used a skull to really get across the visceral fear. No friendly face to make a concession to our silly human anthropomorphic desires. Let’s scare the stupid hairless apes.

Don’t worry the government and regulations will save us from this psychedelic skull

I have an inherent skepticism when someone wants to sell me on the dangers of regular people having access to something new and potentially transformative. Why must we always default to the precautionary principle? Why is fear always our default?

I don’t want to let this sort of thing get to me. But I can see the narrative campaign being waged against artificial intelligence and the sheer volume and tenor of coverage leads me to believe that everyone is aware of its potential.

Claiming artificial intelligence is only for the knowledgeable few chosen by committee of expert sounds so sensible. But I think my body knows better. I should be upset by this.

Categories
Emotional Work

Day 1105 and Other Writing

For as much fluidity as my daily writing habit has achieved, I can still get caught up in a synopsis. I have relieved any pressure to make a daily dispatch (which took some effort) but a quarterly or yearly one can get me to glitch. I like to add more information to my modeling like any self respecting nerd. As much as information integration looks effortless it is actually a laborious process. I read tens of thousands of words every single day.

Now I do work from a strategy. Which means I only adjust my tactics on a weekly or quarterly basis. And I will not be sped up on assessing the character of individuals or the caliber of their ideas if I can help it. When I need to move fast I have to do it within the guardrails of what I believe to be right.

And it’s important to remember that heuristics some heuristics don’t need regular updating. Moral codes shouldn’t need much updating. Maybe you believed the wrong layer of abstraction and have to change your priors to align with your moral code. That’s totally fine.

But you shouldn’t be changing around your code of ethics. That’s how you get criminals. Arbitrage is never permanent. Criminals can have a stronger moral compass than business people or religious institutions. This fucks with everyone. I cannot account for all sinners nor most demands for purity. I can however hold myself to my own standards and so should you.

I do what I can to telegraph my own belief systems and where I derived them. There are lots of signifiers I leave in my wake. I am a Christian. I am a capitalist. I am a Protestant. I believe in markets and judicial review. I believe some things are beyond market but all things are subject to forces beyond our control. That’s how I ended up picking Calvinism as a sect but it’s pretty niche.

I’ve believe luck is just opportunity meeting preparation and you can do a lot to increase opportunities and even more to increase preparation. I don’t like rentiers but I do like the bourgeoisie. Property rights are good and regulations are only as good as the people that make them. That’s why we I’d prefer we have fewer laws. We must act deference to our own failings as human but never so much that it harms our capacity to organize.