From Crypto-Native to Crypto-Enabled
I’m not one to make big annual predictions, but one thing that seems likely to me is that 2024 will mark the emergence of mainstream apps powered by ...

Bitcoin as Battery
One of my favorite things about crypto is that, every so often, your conception of what it is changes.Bitcoin at first was "weird internet money...

The Internet's Next Business Model: A Conversation with Cloudflare's Matthew Prince
I just released a new episode of The Slow Hunch with Matthew Prince, CEO and co-founder of Cloudflare. Since we invested in their Series C back in 2013, I've watched Matthew and his team build one of the most critical pieces of internet infrastructure—protecting and accelerating vast portions of global web traffic. Our conversation traces Matthew's journey from his early "slow hunch" that the internet was fundamentally broken and needed fixing. We start with his law school days in 2000, when ...

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Investing @ USV. Student of cities and the internet.
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Picking back up the series on what decentralization is good for (part 1, part 2), today I want to focus on one of the most exciting aspects of decentralization: growth.
In this case, when I say "decentralized", what I really mean is "open and non-proprietary". The two often go hand-in-hand.
Ok, so why are open, decentralized systems especially good for growth? When a technology is open (anyone can use, extend, modify, build on) and decentralized (no one party or company is in full control), it has the potential to spread like wildfire, for exactly those reasons. Since it is free to use without restriction, permissionless innovation is possible -- meaning anyone who feels like it can pick it up and run. And because open, decentralized systems reduce platform risk, developers can feel comfortable building on them with less of a risk of getting the carpet pulled out from under them.
When this works, it works really well. Many of the technologies we use every day -- like HTTP, SMTP, WiFi, USB and Bluetooth -- have become ubiquitous precisely because they are open, nonproprietary and decentralized in nature (in addition to being useful!).
Everyone knows that it's safe to build to the Bluetooth standard without platform risk. And what that means is that anyone, no matter what company they are with, or what country they live in, has the potential to grow the platform. This kind of omni-directional growth is really only possible with open, un-owned, decentralized technologies.
Often times, however, a single company drives the development of these open, un-owned, decentralized technologies. For example, the General Transit Feed Specification is on open data format that powers most of the public transit industry.
Picking back up the series on what decentralization is good for (part 1, part 2), today I want to focus on one of the most exciting aspects of decentralization: growth.
In this case, when I say "decentralized", what I really mean is "open and non-proprietary". The two often go hand-in-hand.
Ok, so why are open, decentralized systems especially good for growth? When a technology is open (anyone can use, extend, modify, build on) and decentralized (no one party or company is in full control), it has the potential to spread like wildfire, for exactly those reasons. Since it is free to use without restriction, permissionless innovation is possible -- meaning anyone who feels like it can pick it up and run. And because open, decentralized systems reduce platform risk, developers can feel comfortable building on them with less of a risk of getting the carpet pulled out from under them.
When this works, it works really well. Many of the technologies we use every day -- like HTTP, SMTP, WiFi, USB and Bluetooth -- have become ubiquitous precisely because they are open, nonproprietary and decentralized in nature (in addition to being useful!).
Everyone knows that it's safe to build to the Bluetooth standard without platform risk. And what that means is that anyone, no matter what company they are with, or what country they live in, has the potential to grow the platform. This kind of omni-directional growth is really only possible with open, un-owned, decentralized technologies.
Often times, however, a single company drives the development of these open, un-owned, decentralized technologies. For example, the General Transit Feed Specification is on open data format that powers most of the public transit industry.
From Crypto-Native to Crypto-Enabled
I’m not one to make big annual predictions, but one thing that seems likely to me is that 2024 will mark the emergence of mainstream apps powered by ...

Bitcoin as Battery
One of my favorite things about crypto is that, every so often, your conception of what it is changes.Bitcoin at first was "weird internet money...

The Internet's Next Business Model: A Conversation with Cloudflare's Matthew Prince
I just released a new episode of The Slow Hunch with Matthew Prince, CEO and co-founder of Cloudflare. Since we invested in their Series C back in 2013, I've watched Matthew and his team build one of the most critical pieces of internet infrastructure—protecting and accelerating vast portions of global web traffic. Our conversation traces Matthew's journey from his early "slow hunch" that the internet was fundamentally broken and needed fixing. We start with his law school days in 2000, when ...
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Today, in addition to companies driving open technologies, we have the potential to use cryptocurrencies to drive initial adoption. We seen this work to great effect with Bitcoin, Ethereum and other platforms, and while the specific mechanics are still being explored and experimented with, the basic concept is clear: we can use cryptocurrencies and tokens to bootstrap new open, non-proprietary, decentralized technology platforms. It doesn't work every time -- and we will no doubt continue to see a parade of flameouts -- but when it does work, it has the potential to work in a massive, exceedingly rapid, and global way.
Today, in addition to companies driving open technologies, we have the potential to use cryptocurrencies to drive initial adoption. We seen this work to great effect with Bitcoin, Ethereum and other platforms, and while the specific mechanics are still being explored and experimented with, the basic concept is clear: we can use cryptocurrencies and tokens to bootstrap new open, non-proprietary, decentralized technology platforms. It doesn't work every time -- and we will no doubt continue to see a parade of flameouts -- but when it does work, it has the potential to work in a massive, exceedingly rapid, and global way.
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