Tag: Investing

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Startups Travel

1241 and Catching My Breath

Next week I’ll be flying to Austin for what’s become an annual crypto pilgrimage to Consensus. I am excited as it’s like summer camp.

I’ll be participating in a few private sessions but I’ll be a speaker in public town hall forums as well. If you will be in Texas for the event (or are simply in the city) drop me a note on Twitter and perhaps we can overlap.

Given the intensity of the travel I have ahead of me I’m trying to take it easy today and tomorrow. I’ve been doing laundry and organizing myself.

I am not a hot weather person so I worry about events in hot climates in the summer. Heck, I worry about hot climates even in mild seasons. Last year I found myself struggling with Frankfurt in May so summer in Texas isn’t exactly my easy season.

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Internet Culture Startups

Day 1239 and @ Consensus 2024 Next Week

I’ll be in Austin Texas next week for Consensus 2024. I’ve really enjoyed my last couple of years attending. The entire crypto industry gathers for it giving it a summer camp feel. Or as Coindesk says “10 years of decentralizing the future” which undersells their role in reporting the industry.

The conference coincided with the annual Coincenter dinner which is an industry wide non profit effort to work towards policy goals for decentralized computing like Bitcoin & Ethereum and the wider cryptocurrency.

Our mission is to defend the rights of individuals to build and use free and open cryptocurrency networks: the right to write and publish code – to read and to run it. The right to assemble into peer-to-peer networks. And the right to do all this privately.

In that vein, I’ll be discussing the intersection of artificial intelligence as the #FreedomToCompute at Consensus as this is THE issue for everyone who uses compute as a tool to solve problems.

It’s an opportunity to discuss the big public goals around the future of machine money and machine intelligence.

I’d argue this includes the entire software industry and by default anyone who is reading this post. Our most important rights will be decided by how we handle policy on these issues. Math is leverage.

One of the town halls I’ll be participating in at Consensus (a format I love to dig deep into topics) is about how artificial intelligence can be a tool for our efforts to decentralize and not end up as a master of big government or big tech.

Crypto has the basic problems facing artificial intelligence. Both spaces rely on open, available and trustless compute. Both are under intense scrutiny and face significant regulatory capture risks.

It’s never been a better time to get involved in these topics. We need open protocols and interoperability standards far more than we need fretting about safetyism and hysterics about science fiction.

Doom solves no problems but software does. We need safe harbors and policy sandboxes so we can continue to nurture algorithmic innovation for us all.

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Startups

Day 1230 and Alignment is Consensus

Over the last decade I’ve gone deeper into a set of values that guide my relationship to what we should be building and for whom.

Consensus and alignment will be the twin sisters of our shared reality.

We achieve consensus through open networked & decentralized systems of governance and value. A trustless system reaches consensus we all agree upon through the mathematical verification of compute. Decentralized collaborative approaches are the path to alignment.

The further we get from truth as a set of shared experience we agree upon as humans, the more crucial a trustless future becomes.

AI and crypto offer us transparent solutions to agreement. Machine intelligence needs machine money and machine governance.

Humans beings are not truth seeking animals. We are social animals. We decide the boundaries of culture together. Rationality is an aspiration resting atop faulty sensors and emotional baggage.

But we can reach a consensus. Mathematics gives us the tools to differentiate between thing and not thing. We can encode quite a bit into binary.

We can seek to know things impartially. From there we share our experience with others. We measure and compare. Trial and error is collaborative. To be able to come to an agreement on a shared truth is the whole goal.

To be able to collaborate widely and through shared and mutually agreed upon standards remains the ambition of civilization. Coordination unlocks progress.

With artificial intelligence we can extend out the realm of what we know. Networking together all our emotionally faulty sensors, conflicting pieces of cultural & emotional knowledge together reveals bigger things.

If, from that networked reality, we are then able to scale the abstract business of solving specific and concrete problems all the better.

Building within reality requires us to agree on an acceptable consensus. We can verify positions and align incentives together. The alignment is all of us coming to a consensus on how we allocate our attention, willpower, and resources.

We reach for technological progress through alignment which is organized through the network consensus layers of governance and value.

The freedom to compute is essential to alignment. In a trustless world, we are able to reach consensus we can all verify.

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Culture

Day 1212 and Being One of Many

Quick. Without overthinking it, pick one.

Words or Numbers.

I can’t predict your choice, but I’ll admit my “rational” conscience mind desperately wants me to pick numbers.

Alas my emotional subconscious intelligence quickly goes intuitive, lurching my feelings to a grabby place with “words.” That the right answer. I’d be hard pressed to correct my gut.

Humans love a good story. Even a single word can contain centuries of meaning. Just ask someone to define “woman” if you don’t believe me.

In the battle between numeracy and literacy, the bell has long ago been rung on the fight. Cave paintings transitioned to runes. Runes became alphabets. Literacy won before numbers got beyond accounting for the treasures of a king.

Priesthoods may have hated man understanding “the Word” but human minds were already on board with incantations of auspicious words before we got formal symbolic systems.

Probably understandably attempts to introduce topics like algebra were was a bit of stretch. Even simple arithmetic proved to be a contentious abstraction for many humans.

Ideas like property are a not a long haul from understanding “mine” and “yours” but it’s quite a leap to understand “how much” and “in what ways across different time and organizational schemas” which gets humans upset over specific collection of things.

Look at your hands and you understand that base ten allows you to calculate simple transactions for resources within your life.

Beyond that good luck. Got an abacus? Understanding that zero and one can communicate a universe’s worth of information is an even further leap. Attention wanders quickly without a computer.

And yet, as I enjoy the aesthetics of my own numeric symmetry in my 1212 days of consecutive writing, I know it’s my private counting mechanism.

“The need for numeracy today is enormous. Business requires people who have grasped the principles of reducing chaos of information to some kind of order.”

The Economist 1966

The narrative overlay of what numbers mean matters more than the numbers. So I’ll ask again. Which would you pick? Words or numbers?

Categories
Emotional Work Startups

Day 1193 And Peak Performance

I was really struggling yesterday so I didn’t expect to jump right onto a flow state today. I went into town to eat a hamburger.

“You may not like it but eating a burger in the back of a casino in a strip mall in Montana while reading an economics lecture by Deidre McCloskey is actually female peak performance”

Maybe it was the positive effect of a bunch of fat and protein but I was in the zone afterwards. I was able to pull together a bunch of disparate connections on a specialty niche where I’ve had some very promising investments.

I, for a brief shining moment, realized I was almost certainly one of the most expert and well connected people on the planet for something.

So much of not getting eaten by change is simply accepting that you feel absolutely bonkers an enormous amount of time. Learning to live with it isn’t as easy as it looks

If you are lucky and smart and open minded a straight line can appear through what was other completely disparate things. It’s funny that we call putting a line through things regression right? Simplifying things is funny like that.

Learning to act when you see a through line is almost all of the battle. “Noticing things” is only useful insofar as it something you take action on.

I felt as if I had no clear path at all yesterday on anything and then today I did. I didn’t see some kind of perfect Delphic vision of the future. I just realized that work I’d set in motion three or four years ago has yielded results and if I was able to keep going with other people who saw it too then I had done what I could.

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Chronic Disease Emotional Work

Day 1192 and Stasis

I am not feeling well today and used all the capacity I had to simply push at the edges of my universe and scream a bit into the abyss.

Screaming into the abyss is my pet name for being on the internet. Mostly Twitter. I know it sounds stupid.

Sometimes there are actual people on there still which is a small comfort. Just telegraphing into the universe that you are a “live one” is half the battle of bringing the future into the present.

I know it sounds like a stupid way to bring in resources and deals and alliances but it works. Make of that what you will. I’ll get on a phone call now and again if you are really compelling and intelligent. I spent some time on the phone with one of my favorite people and it was more energy than I would have anticipated.

Sometimes that’s just how it goes. There is only so much you can do when your time horizons for results are measured in a ten year cycle anyway.

It’s occasionally embarrassing to admit there are days I don’t have the energy to manage what what I eat, how much I exercise, whether I bath or do farm chores or otherwise manage the work of physical reality.

A few days of the month I do the absolute minimum to manage stasis and I honestly even that was a stretch. But like the classic Monty Python sketch of another era “I’m not dead yet!”

Categories
Emotional Work Homesteading Startups

Day 1191 and 90 Day Horizon

I feel like I’ve got a decent grip on the directions that have captivated markets and where the next decade of opportunities will emerge. My long term confidence on managing through chaos remains the same. Focus on resilience and adaptability.

I feel as if repeat myself constantly in the ways that I live this through my revealed preferences.

In more local “place” resilience we live on land we own land in Montana with our own well, water rights, and powering our energy needs off a large solar grid.

In broader macroeconomics terms, I invest in decentralized ecosystems like Bitcoin, open source software projects and compute exchanges. Hell, I was even the first check into a nuclear energy company last year. Energy and networks matter.

Yet I have no idea what I intend to do with my next couple of months or where I should even spend my time except “keep doing what you are already doing!”

I’ve come to some crossroads on my attention and the decisions I need to make in the short term feel challenging. I’ve never had more opportunities in front of me and it’s exhilarating. But I also don’t feel like it’s clear how to best allocate my attention in the very near short term.

But I also don’t have high confidence on what I should be cutting out or bringing to the forefront in the next 90 days or so. There is simply so much happening (and those effects are potentially existential) that it’s a struggle for me to say “fuck it we ball” to what’s in front of me. What ball? What am I saying fuck it to? Is it a fuck no or a fuck yes?

Categories
Internet Culture Politics

Day 1173 and Autism Services

If you are an autist of any stripe still attempting to operate in the field I will broadcast to you. You may need to make a pilgrims and it will just be an information dump but I’ll do my best. You have to put it together yourself but the old web is not fully broken.

The maze of information is winding and the roll ups and bureaucracy winds on and off the Silk Road. Literal and metaphorical. I don’t even know how many of you bought drugs on the old internets and how many of you bought Uranium. I have nothing but Netflix and communist literature. Lots of people have opinions on drugs and whores. I am not one of them truth be told except I’m of the firm opinion whores shouldn’t side with empire but I’m not in Burke’s Peerage so what do I know.

Maybe there is a world where Bridgerton actually happened and some autistic king and some colonial wife really do live in harmony. I don’t know I’m a William Gibson fan. Pour one out for information wants to be free homies. The nerds shouldn’t have been weaponized and whatever capitalism is doing should probably check in with reality.

How to tell what a company does

You are caught in someone’s opinion. None of us know who is influencing us except the sort of dorks who map carefully and most of the nerds have day jobs. The only ones who see it are just doing their best to allocate the attention and resources. Lots of people are doing chaos magic. Maybe stop? Or summon better demons.

Any number of nerds are caught in elaborate webs of inferences. A lot of them are left wingers. Precious view are genuine communists. But also some sincere ones are out there. Most are happy to be in the recursive loop of reality in which we maintain our lives. Some of us are banging on the cage.

Categories
Startups

Day 1163 and Women in Tech

A lot of emotional energy has been directed at the “problem” of “women in technology” in the last decade or two. Stupid campaigns get run with degrees of condescension in which it’s insinuated the only way women could see the value in crypto is if we make a perfume. It’s the rankest form of sexism and extremely effective. And I’ve proudly worked in cosmetics. Chemistry is cool.

So today on International Women’s Day I’d like to remind myself that I’ve l been “in tech” since the moment I fell in love with a personal computer as a young teen. I’m on that edge of elder millennial that did things in the real world as children but had access to the virtual early.

Plenty of men mistakenly assume that because I worked in fashion, beauty and ecommerce. I was early before the ease of hosted Shopify accounts or even Heroku instances for an app. It was a lot more roll your own.

And yet some think my experience doesn’t count. Despite it being a clearly sign of capital markets having underpricing occasionally. Ifs a good thing. You go where market rewards you and you learn to learn skills along the way.

I think so much less about my gender now. Almost resent ever having been talked into it. You do it right then you, like an anyone else in the market, can benefit when someone misallocates.

If you are lucky enough to steward your own capital, then get to be part of the investor bases to build the next generation. I do that now. I am still a woman.

I’m proud to use the resources I have to invest in what I believe in based on my experiences and the thesis I invest under. Not as some smoothed over marketing narrative with a gender hook. No I price like an actor you can do business with. I am willing to show my revealed preference.

I learned in previous eras so I may serve the generation that is coming up. And I’m happy to invest in the ares I believe in most. I am happy as a woman to invest in men as I am in women.

The focus I see in founders I have invested in across energy, artificial intelligence and crypto are ones I believe in. I believe in them as people. I believe in them as founders. I believe in them as men.

I am lucky to be seen as an individual with capital and insights that can help them carry a better future forward. I hope all founders are seen as individuals.

Technology innovation has been the driver of improved human life. Material prosperity is good for women. It’s good for men. So I’ll celebrate doing stuff for the boys on international women’s day.

Alex Miller visiting with me at one of our favorite portfolio company Valar Atomics. I believe in Isiah and his team.
Categories
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.