I’m attending Ethereum Denver through the weekend. If you aren’t familiar it’s a fairly substantial crypto conference with wide appeal and good credibility across the entire ecosystem. I don’t have any special hookups nor do I have a careful plan of attack. It’s my first time attending a large industry event as an investor.
Truthfully I’m incredibly nervous. I’ve never been on this side of the table before. I’ve always attended events as a founder. Which is an entirely different mix of status and social positioning from a venture capitalist. Founders are the cool ones. The top of the social hierarchy. It’s the hardest job in the business and in exchange we revere them as a kind of messianic class. We all place our belief in the people who start building from nothing. Even if you haven’t yet had a big success it’s the act of beginning that has the potency. Anyone who has the guts and steel to try to make something new is part of that rarified class.
So while I ostensibly have more power than I’ve ever had in my entire career, I also feel a slight sense of social anxiety. This is the first time I’ve not been in the anointed. So in a very real sense I’m walking in without any of the power that I’ve had before. And I’m a little scared.
Will people think I’m cool? Will I get invited to go to the right parties? Will the right people want to talk to me? Will I look good enough? Will I be able to hold my own such that I can capture the attention of other peers?
I’m used to needing to network hard to find the money. I’d roll into events with my team squashed into one room and we’d plan out every single minute to maximize our budget. Now I’m the one teams will be searching for pitch.
It’s this strange blend of gaining new status but missing the old place and position in a culture that has me a little nervous. So if you find me at the conference know that if you are scared to strike up a conversation you are not alone. We are all looking to find each other and connect.
It’s ok if someone hates me. It’s ok if someone thinks I’m bitchy, stupid, obnoxious and self serving. Hell I’m ok if people think I’m a lesser human being. Which judging by Twitter could be a multitude of reasons ranging from “I’m a woman” to “I’ve got bad taste in tv.”
I am alright with you not being alright with me. My existence is not threatened by your philosophy or personal preferences. My existence is only threatened if you literally threaten me. Call me evil if you like. I’m not offended. Until you take an action against me it’s alright that we disagree. Even if the disagreements are existential.
It’s quite possible this is wrong. I’m open to debate on what constitutes harm. In fact, my entire philosophy centers on that debate being fine. I can take it. I actually pay someone to cuss me out for being stupid and then I pay again to spend time in a group where we regularly tell each other how much the group members anger us. It’s called therapy.
So take that as context when I say I wasn’t particularly personally hurt by Brantly Milligan, aka Brantly.eth aka one of the ENS Foundation cofounders, suggesting women who use contraception are perverts. I’d probably be a lot more hurt if I was a gay trans woman who had an abortion though. But I figure that demo might be used to being called evil by Catholics at this point. Like maybe it’s more of an annoyance than existential threat if you are wealthy and privileged enough to be working in crypto. We aren’t really a population that is hurting
Brantley.eth “homosexual acts are evil. Transgenderism doesn’t exist. Abortion is murder. Contraception is a perversion. So is masturbation and porn.”
The Ethereum community is experiencing this speech with a lot of pain, hurt and anger. Brantley was voted out of his contract with True Names Limited the foundation that manages ENS Domains. But he remains one of the largest holders of tokens and will obviously have plenty of influence over the future of the platform. The debate has become one of cancel culture versus DAO governance working as intended. But the split on that is not clean and it’s not always clear where people will fall. An informal poll on my timeline is pretty evenly split.
Twitter poll asking if Brantley termination is governance working or cancel culture.
I’m tempted to assign him my tokens as a delegate to be honest. Though I won’t because I think he’s unprofessional. But I want to because I don’t love how any of it played out. Brantly doubled down on telling folks to fuck off compounding the feeling of being hurt. That’s unprofessional and not the kind of behavior I’d expect out of my management team. But I also don’t know that simply holding unpleasant or intolerant beliefs is enough. And it shouldn’t be in a decentralized system. I respect that the right voting and governance may have happened here but I’d argue we all want more control spread out over more people for exactly these scenarios.
I think Brantly basically Shrekli’d himself by doubling down on asshole antisocial shit and the DAO equivalent of the Feds coming for you happened. You can’t attract negative attention and be shocked when bad shit happens to you. But I don’t think being a retrograde weirdo is enough on it’s own to get you booted from an ecosystem.
The entire reason I’m walking you through this sensitive topic today is that I am committing my year to self love. And you might think how does self love and DAO governance overlap. But I really do feel empathy to everyone involved in ENS and the ethereum ecosystem right now. The pain of feeling like you are not seen and loved for who you are is primal shit. This is core human nature “do I belong” to my tribe stuff.
If you don’t love yourself than you are going to have a reactive stance to something that questions your morality and worth. And I’m guessing a lot of people are reactive judging by the uproar. But the thing about self love is that you just won’t be as hurt by assholes being assholes. Because you’ve taken care of yourself first. So whatever the right and just outcome of this ENS governance issue, I think it’s important we all check in on ourselves and why we reacted in the first place. Only then can we get on with the business of design the future and it’s technology.
Postlapsarian literature is arguably the first type of story in the human mind. A fall takes place. What comes after? Paradise Lost is an entire genre of folklore. I’ve been watching the new Station Eleven television show having made that mistake of reading the book early in the pandemic. I say mistake because it’s an emotional book.
Maybe it’s America’s obsession with second acts that gives me optimism. We will have a fall. A shuffling towards Bethlehem style shambles perhaps. But we will rise. Our national bird has never been the bald eagle. It’s been the phoenix.
Maybe this is why we tolerate horrible work conditions and miserable days fighting our fellow man for a scrap of security. Because as the saying goes, each of us is only a temporarily embarrassed billionaire. Don’t worry we will be back. The show must go on.
And so we concoct elaborate fantasies about how this too will pass. One day our chronic poor health will get better. Just you wait. We believe in science here you see. Science means an Epcot better tomorrow just hang in there.
Our Hollywood fantasies are riddled with “life finds a way” punchlines because well the struggle for survival in an inhospitable world is a universal struggle for our species. There is no lost cause.
But also there is no enjoying the moment or savoring the little things in life if we are always watering for our heroic moment in “the after” and holding back in the now. But don’t worry. Life finds a way. And so will you. Just remember that the end of the world is mostly a change in circumstances.
Maybe three years ago William Gibson was promoting his new book. It was the last event I attended in a pre-pandemic world so it stands out to me. He gave an interview where he mentioned reading a novel by Hari Kunzru called “Red Pilled” and that he found the plot as a plausible near future.
I immediately bought a copy as I’m heavily influenced by the prescient near future work of @GreatDismal. The book was about a member of the blue check media class slowly going stark raving mad because of an elaborate right wing alt-reich troll farming operation. It was uncomfortably clear on the kind of elaborate cultural war tactics that goes into pilling normies. Dank memes and slowly you are accepting the aesthetics and touchstones of former Reich minutiae or Nordic runes or pick your mythical volk white mythology. Memes are dangerous gateway ideology kids.
I didn’t really think anything of it at the time. Then I lived through the pandemic becoming an elaborate death cult ritual with totemic significance for both warring sides. I realized we are in the middle of a massive meme war for the soul of internet culture and most of us don’t know we are victims yet.
Walk down one wrong hobby hole on Reddit and suddenly you have become friends with folks with more than passing fascinations with authoritarian culture. Honestly it’s freaky as shit and I’m absolutely socially friendly with people who don’t think I’m a fully autonomous sovereign individual. And yes I mean both socialist Soviet apologist Tankies and TradCath beach fascists.
The latest example of mass hyper object cultural murmurations might be the Bored Ape Yacht Club. And not in the way you think! It was brought to my attention by Venkatesh Rao and he clicked together some signs I’d registered but not processed. It’s entirely possible someone pulled a QAnon semiotic culture jacking with everyone’s favorite NFT project and made it so we all consumed a bunch of Nazis culture.
If even a fraction of the wild associative leaps are premeditated it would be a kind of aesthetic scandal on par with the country electing a reality show host. A couple nRX message-board fascists cosplaying as Zombie Nazis grift 4 billion dollars in market place from venture capitalists and gullible celebrities. What a collective failure to repudiate literal Nazis! Lol. Maybe this means our unconscious might think some of this is right? Oh god maybe we did read a human biodiversity essay that made a convincing point. We seem to be a lot closer to black pilled. Fuck. Is this psychological warfare?
Honestly I hate this fantasy so much I hope it ends up being the largest milkshake ducking in history. Except at the end a whole bunch of us end up simping for the technical value of a bunch of Hitler memes. Fuck I’d die if this is how we all got pilled on antique fascist aesthetics. I’d love it even more if Peter Thiel were involved so the left wing conspiracy types could build their own QAnon metaverse. Already we’ve been warned about meme magic and the spiritual traditionalism that is animating a global new right. And I’ve got to be honest some of the threads going around have some elaborate research and narrative work. It’s propaganda level and designed to be compelling and confusing.
BAYC is of the most intricate hidden trolling campaigns in history created by very intelligent 4chan-related trolls who have hidden lots of nazi and alt-right innuendoes across the collection I’ve gathered enough proof to confirm it.
I honestly have no idea who is playing who in this saga. I’m think @vgr is probably right that even the terminally online struggle to make sensible or legible this level of signaling. So we brush it off. But it’s going to be an inception vector. So be careful when you react to an event. You might be primed to respond to their propaganda and not even know it.
I’ve been scouting for homesteads so I have been making forays further from the city enclaves and blue liberal towns that are my normal haunts and out into rural America. Poverty in the context of blue cities has generally meant homelessness and panhandling. But poverty in rural america looks different.
NIMBY (not in our neighborhood) cities won’t let you just pull up a double wide on the outskirts of town. That brings down property values. I mean theoretically so does tent cities, but that’s an argument for another day. But I haven’t really seen a lot of RVs or mobile homes simply because I’ve lived in yuppie Boomer cities. NIMBY land has “standards” and if you can’t meet them we’d rather you be unhoused than accommodate uglier but more humane options.
As I’ve driven through industrial western cities I’ve seen a fuck ton more rural poverty than I expected. Which is naive and stupid of me. I’m aware of median American incomes. Not everyone can afford suburban townhouses and most developers aren’t interested in building that kind of housing outside of well gentrified places.
As I’ve gone further afield to towns that rely on commodity products like oil or minerals or cattle, I’ve noticed a reliance on temporary or low cost housing. You see a lot of decent well maintained working trucks. But a lot of the housing is as bare bones as you can imagine. And it’s ugly as sin to the NIMBY eye but at least it’s fucking housing. I’ve seen a lot of trailers in various states of decay but I’ve got to imagine it’s better than a tent.
I don’t have a real point here other than to say that America is hurting. No one can afford inflation and if we’ve got stagnating opportunities it’s going to blow up in our faces. Blue cities should be embarrassed as fuck by allowing massive unhoused populations when we’ve got prefabricated options. But the American crumbling is bad in any form.
I had almost nothing on my calendar today I didn’t want to do. I had small administrative things that took up maybe two hours and that’s excessive by my standards. It’s rare I ever have more than half an hour of genuine obligations. Mostly I just go where I feel like on any given day. I lay in bed on my phone and I move the world with strangers on the internet.
I’m not sure how I optimized for this kind of idyllic work life. I certainly didn’t used to live this way. When I was a founder I was constantly at the mercy of meetings I didn’t want and obligations I wanted to shirk. I always felt put upon. I never felt more like hustle culture owned my life than during my founding years. I was constantly optimizing and I felt like I never had any relief.
Maybe it’s the pandemic. Once we stopped with offices and workdays and all their attendant events and activities, life got a lot better. Everyone kind of settled into routines that made space for what mattered most to them. We no longer had cocktail parties or conferences. Thought leadership stopped being keynote speeches and started being shitposts on Twitter.
I don’t know what the fuck I did it exactly to free myself from that over scheduled fate. I’m so much happier and more efficient. I get shit done and I am less stressed and working fewer unnecessary hours.
Maybe part of it is that I might be a better investor than I was a founder. I could spend the whole day skipping through direct messages and sharing insights in Telegram group chats or having product breaksdowns in Notion. I’m actually good at what I do now. I bring more value and I do it more quickly. Maybe this is what real optimized work is like. You are so good it’s easy.
I’m so fucking happy right now. Over the last hour I’ve done more to advance my deals, connect my community and dig into shit that I genuinely passionately love than I thought I could do in an week. It’s like winning the lottery. I cannot believe I make money doing this.
I basically gossip all day with super smart people and then trade a bunch of densely coded social signals. Those all translate into money. I plot elaborate stories with fellow degenerates with deep aesthetics and then we send it into media zeitgeist. It’s like I work in fashion but the pay is much much better. So I guess it is true what they say. Do what you love and you never work a day I’m your life.
December was a pretty gnarly month for me. I tore a ligament. I got Covid. A fire burned down two entire towns. I’m emotionally burnt out right now and letting myself feel it because tomorrow I go back to work. So apologies if this is even more stream of consciousness than usual.
When I was a teenager I wanted to be a reporter. So I talked my way into an internship at our local television station Channel 8. I loved it. I got to be the assistant for such glamorous events as city council land use meetings. Which is how I happen to have the misfortune of knowing how Boulder became surrounded by suburban sprawl. I don’t have a grand unified theory. I just witness a lot of little decisions that compounded into unspeakable disaster no one could have predicted. Except we did.
There used to be a crappy mall in Boulder. It had a Macy’s and a Foley’s but it couldn’t sustain its anchor tenant department stores even in the late 90s and early aughts. Now big developers and chain stores knew that Boulder was fast becoming a wealthy town and wanted in. Maybe we could upgrade from middle market to premium retail. But Boulder is run by a bunch of hippies and wanted no part of upgrading big box stores. City council meeting turned into an endless parade of “no” to various folks coming in attempting to take over the mall on 28th street. It languished for years.
Eventually the developers gave up. Decided to construct a mall outside of the open space belt outside of the city. You see Boulder is the prototype for NIMBYS. We literally bought up a bunch of land that the town owns and can never ever be developed so no one could sprawl the town. It’s gorgeous and amazing and expensive to maintain and makes Boulder a haven for its natives and an impossibly expensive place if you didn’t buy real estate in the 60s. But I digress. This is about the mall.
The developers called the new mall out on the prairie beyond the town’s open space Flatiron Crossing. It’s an homage to Boulder’s signature feature the flatiron mountains. And the views from up town highway 36 into town driving back from the mall are amazing.
And Boulder honestly felt like it won. The ugly box stores went up around it. Our town was saved from Costco and Chuckee Cheese and Ann Taylor. We all snobbishly called it Flat Out Grossings. We thought it was a nasty money grab. It was wise we let them develop outside the open space band and protected the town.
I actually have to stop writing this as I can’t make the point I want to which is that Boulder brought much of this misery on itself. We wouldn’t let the land be developed in town. So someone else did outside of town. And now that land got wiped out from a fire in our open space. And everyone is going to be snide and awful but our policies have consequences and by pushing out our development to Flat Out Grossing the law of unintended consequences has taken over. And I’m sick to my stomach knowing the well intentioned hippies ended up doing so much more damage.
Today officially marks a full year of writing every single day. What should be a sense of accomplishment is mostly a sense of comfort at my own discipline. It’s an edge. I like to be improving and that takes good habits. Writing daily been an enormously positive influence in my daily life. I don’t have any plans to stop but as with hang habit you take it one day at a time.
I’m writing from Boulder Colorado after one of the worst natural disasters our state has ever seen. Though the experience was entirely unnatural. Gusting winds over 100mph combined with bone dry grasslands to start a raging wildfire in the middle of the suburbs. The front range hasn’t seen snow yet this season so Chinook winds must have rolled over a downed power line. The wildfire destroyed two towns in my county in the space of a few hours. Last I heard over 500 homes were lost.
I’m devastated. I feel genuinely traumatized even as I’m safe. But of course I feel the trauma of the hour. This is my home. My neighbors lost their homes. All the roads that are closed are my daily routes. My fucking grocery store was burning. Another climate driven disaster makes the national news. But it’s not somewhere else. It’s my home. Better active shooter I guess. A comparison we can make in Boulder. Gallows humor.
I was working through most of the fire. Just letting the apocalypse unfold around me as I went about my business. 8 miles away the world was on fire but I had no evacuation order. No reason to stop working. I closed the blinds as I found the hurricane force gusts unsettling. They shook the house. I would check social media on my phone in between pitches and worked on financial modeling. I took an Ativan to calm myself down so I could focus.
I had explicitly known something like this was coming. Maybe not this crisis. But more weird shit was inbound bWe named our fund chaotic.capital. Precisely because we believe stochastic shit will dominate the next decade. We are betting the future will be chaotic so we must bake flexibility into everything. There is good money to be made betting on chaos. Normally bias will lose you money. Chaos is good for business.
So what does that have to do with writing every day? I want to say something wise about bearing witness. But I don’t think I’m capable of living so large with this much fear around me. I didn’t expect the exercise of daily writing would mean writing through crisis. But I should have. Normalcy bias effects me too.
And yet I must have in some sense predicted that life would take this path even if I wasn’t directly in it. Or I wouldn’t have named the fund chaotic. I wouldn’t proudly discuss prepping. This is the world I live in. Chaos is a given and I’m going to work towards a better future. I’m documenting it as it comes with these essays. And I guess we will see how far it goes. Thanks for joining me for the first year.
A few days ago I wondered what project or cultural artifact was going to grab our mutual cultural attention during the Christmas vacation week? Something always does. One year it was fucking Quora if you can believe it. This year I’m ready to call it for $SOS at least if you are into Web3 and crypto economics.
On fucking Christmas Day these degenerates drop a contract to let anyone claim tokens who has ever purchased an NFT on the OpenSea marketplace. And people went ape shit. Suddenly someone had taken all the visible contributions from OpenSea and manifested them in a token and said this is ours. Fuck corporate dominance of profit your users hold the real value. I’ve never seen anything so ballsy. Last year when Wall Street Bets decided to taken on hedge funds I felt like we had entered a new era of community behavior.
An emergent community has swum up from the sea and eaten the lunch of a supposedly greedy centralized platform. Web3 just attacked what we didn’t even realize was Web2. A crypto darling turned parable for centralization in the space of a few years. $SOS seemed to say community owned this value all along. The airdrop showed us the balance of power in a web3 community if we all work together. I’m so impressed by the sheer cultural force of the statement. It could all go horribly awry but god damn if it isn’t utopian.
I’ve got not fucking clue if this is a legitimate contract or not. I’m not going to FUD. But from a first principles, we are building a new internet where the incentives of the users align with the technology statement, then this is quite a shot across the bow. Also I’m pretty sure this makes it harder for OpenSea to IPO if their user base is in open rebellion against who gets rewarded.
The thing is I believe Devin to be a well meaning and genuinely forward thinking guy. He’s a terrific communicator that set out with the utopian intentions that we all do. But we are moving so fast with breaking cultural norms and acceptable societal level rewards for contributions to an economy that I think we might have just spiraled up to some kind of cultural singularity. Crypto might just be moving that fast. Whatever happens this is one of the coolest things I’ve ever seen from a startup. Score one for the anonymous degens.
Gaming is what finally pilled me on crypto. When I took a medical leave a few years ago I felt isolated. I picked up a number of social games as a way to feel connected to other people. What started as fucking off ultimately transformed my perspective on investing. I didn’t know it yet but it was setting the stage for my fascination with web3.
I made friends. Real friendships despite none of us ever spending time together IRL. I made friends all over the world in completely different places, from wildly different social and economic classes, and we all easily collaborated to win together.
And while this sounds obvious I learned just how much talent and intelligence is evenly distributed to my fellow humans. The only difference between me and many of my fellow gamers was that I was born with a good passport. While everyone had the same access to internet as me, what they didn’t have was the same access to to global markets as I did. We could play together but we couldn’t invest together.
Their ambitions were cut short because of geopolitical decisions that had nothing to do with their ability to contribute and accumulate meaningful value. I had always known this intellectually, but never before had I been so deeply emotionally connected to so much human diversity as I was through gaming online.
Frankly it radicalized the fuck out of me. People in the West have no idea how good they’ve got it. And it’s a crime that we are not all actively working for all of our species to have equal access to markets. It’s just fucking time to drop the colonialism and the exceptionalism and combine our ambitions. We’ve got big problems to solve.
For me wagmi is some powerful solidarity shit. And I’m basically a foot soldier to the plutocracy. I am at the top of the food chain. I’ve get every reason to want to rent seek and act a protectionist to preserve my place. But thanks to something so simple as playing with others got me back to the golden rule. Do unto others.
Web3 offers a radical cultural position that everyone should own their work and everyone should compete with the same rules. When we say “we are all gonna make it” it’s an optimism about the kind of future we can build together. Sure the wealth is good. We need those incentives to come together. Markets operate on self interest. So let’s use that slay the beasts of collaboration and make stuff together. Wagmi.
