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<title>The Tweets of Marc Andreesen</title>
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<h1>The Tweets of Marc Andreesen</h1>
<h2>On weird scary</h2>
<p>Grandpa Simpson: "I used to be with it, but then they changed what <em>it</em> was..."</p>
<p>(continued): "...Now what I'm with isn't <em>it</em>, and what's <em>it</em> seems weird and scary to me. It'll happen to you!"</p>
<h2>On insatiable demand</h2>
<p>RT @polemitis: Summary: Daily currency trading $5.8T per day now (HT @Restarted_guy). BTC daily vol. ~$100M (60,000x less). Much more BTC t…</p>
<p>RT @polemitis: The way to reduce BTC volatility is more trading, more liquidity, more Wall St guys wanting 'only in it for the money'</p>
<p>RT @polemitis: Heard many times from tech guys 'BTC is brilliant - I don't care about the price - wish the speculators all left'. This is …</p>
<p>RT @polemitis: It is obvious that most finance folks don't yet understand tech behind bitcoin. Less obvious is tech unfamiliarity with 'ma…</p>
<p>RT @stevesi: Couple of things about how software services deals are "different" than traditional views on M&A</p>
<p>RT @stevesi: Many deals involve a network or ecosystem that is highly valued by participants but not yet monetized. Building out network i…</p>
<p>RT @stevesi: So you can't place a dollar value on the network, but it is the critical thing you are buying.</p>
<p>RT @stevesi: The code usually seems small and trivial in hindsight or make v buy, but keep in mind operating something for 100M people is c…</p>
<p>RT @stevesi: Software service cos rarely have big expenses given cloud infrastructure. smaller opex all around. yet momentum and value is r…</p>
<p>RT @stevesi: New businesses have margin/cost/cash structures that permit paying what seem like high prices (for the thing you can't value)</p>
<p>RT @stevesi: Modern service operations allow for easy side by side and cross-connections without interrupting product improvements.</p>
<p>RT @stevesi: Consider how long youtube was operated independently and how much it grew and improved in service. Thats a good model to learn…</p>
<p>RT @stevesi: Plus if you existing big co buying something new needs to do everything possible to maintain the value of what you bought. Abo…</p>
<p>RT @stevesi: Need to be very cautious of attempting to integrate with existing biz models, products, code, etc.</p>
<p>RT @stevesi: eg insatiable demand for synergy, integration, consistency of new thing w/existing: sales force, compensation, products, stand…</p>
<h2>On 4T/day currency</h2>
<p>RT @polemitis: Why do some folks think it is somehow a flaw if some people are only in BTC 'for the money / speculation'</p>
<p>RT @polemitis: Traders and hedge funds in USD/EUR/YEN also 'just in it for the money'. Side-benefit to society: liquid markets for everyone…</p>
<p>RT @polemitis: .@TheStalwart Well, there is $4T/day of currency trading (>1,400T/year) v. annual international trade of $36T. That is a lo…</p>
<h2>On full stack</h2>
<p>RT @cdixon: So many good tech ideas didn't work last decade because they tried to license to incumbents who didn't value or understand it.</p>
<p>RT @cdixon: Now the (excellent) trend is to go "full stack" and build tech, operations, and end user product/service to bypass incumbents.</p>
<p>RT @cdixon: Examples: electric car batteries, taxi operations systems, video delivery software, medical expert systems, educational softwar…</p>
<p>RT @cdixon: New world "full stack" startups: Tesla, Warby, Uber, Harrys, Nest, Buzzfeed, Netflix.</p>
<h2>On Every important new technology</h2>
<p>Market price of BTC (Bitcoin) dropped going into MtGox shutdown, and then has risen since.</p>
<p>This is exactly what one would predict for a normally functioning financial market without systemic risk.</p>
<p>MtGox had to die for Bitcoin to thrive. Its former role from early Bitcoin days has been supplanted by better, stronger entities.</p>
<p>People learning about or trading Bitcoin should deal with reputable, well-run, well-backed companies such as Coinbase (our choice).</p>
<p>Important to know that Bitcoin protocol & transaction network doing just fine in wake of MtGox shutdown --> no substantive technical issue.</p>
<p>Every important new technology has birthing pains. PC did, Web did, Bitcoin does. Our enthusiasm and commitment unchanged.</p>
<h2>On crucible high performance</h2>
<p>1/I'm torn over this story: "Inside the Showdown Atop Pimco, the World's Biggest Bond Firm" -- http://t.co/6ZwnN3uTbu</p>
<p>2/On the one hand, it's clearly excellent reporting, from top notch reporters and a world class newspaper.</p>
<p>3/On the other hand, story implication seems to be Bill Gross is out of control egomaniac who is going to ruin his firm if left unchecked.</p>
<p>4/I should start by saying I don't know Mr. Gross, I've never met him, I never deal with him in business, he's in totally different domain.</p>
<p>5/But the behavior described is completely typical of any highly-successful, high-functioning organization in any field I've ever seen.</p>
<p>6/High-functioning business organizations aren't Disneyland. There's always stress, conflict, argument, dissent. Emotion. Drama.</p>
<p>7/This exact same behavior/pattern is often found in both the best-performing companies in any space AND in the worst-performing.</p>
<p>8/I often see young people entering business think it's all going to be pattycake happyland, and if not, something must be badly wrong.</p>
<p>9/So I read this story and I literally think to myself, boy, that sounds like Apple, Oracle, Intel, Cisco, Google, Amazon, and Microsoft.</p>
<p>10/Moral? Business is stressful. There's constant conflict, emotion, even anger. Building a company is an intense experience, period.</p>
<p>11/Harnessed properly, this is the crucible out of which high performance and great results emerges. Satisfaction of overcoming challenges.</p>
<h2>On institutional inv…</h2>
<p>RT @cdixon: People who build things care about what happens over 5-10 years. Everything else is noise.</p>
<p>RT @polemitis: Mt. Gox winners will be well-capitalized, well-branded, well-credentialed, well-insured wallets, just like banks with Doric …</p>
<p>RT @polemitis: That means: @coinbase in the lead, @circlebits really needs to launch, @blockchain and @Bitstamp need more institutional inv…</p>
<h2>On terrible event</h2>
<p>RT @polemitis: Mt Gox debacle unfortunately necessary step for the evolution of bitcoin. Long history of failures at Mt Gox. To be repla…</p>
<p>RT @binarybits: Least surprising news of the day: people think Mt. Gox is insolvent. http://t.co/vv083n4ntw</p>
<p>RT @binarybits: In case the $5 million seizures by the US government, the $50 million lawsuit, and the suspension of withdrawals weren't en…</p>
<p>RT @polemitis: @naval @ndyroth @erickschonfeld MtGox long been out of its depth. terrible event for its customers, but probably inevitable…</p>
<p>RT @polemitis: @naval @ndyroth @erickschonfeld other than:bank seizures, lawsuits, inability to withdraw USD, trading lapses, nothing wld h…</p>
<p>RT @sama: just signed up for health insurance with @zenefits. excellent experience!</p>
<h2>Idea 9</h2>
<p>The birth of Whatsapp, May 9 2009: http://t.co/7YSNHWYixY</p>
<p>RT @DanRayburn: Inside The Netflix/Comcast Deal and What The Media Is Getting Very Wrong - http://t.co/NUofNYI83x Tip @techmeme</p>
<p>RT @YanniKouts: How the sudden collapse of Yanukovych's rule shocked his allies &opponents in Kiev—as well as Western officials http://t.co…</p>
<h2>On wrong //t.co/A1vkYRLu7Z</h2>
<p>RT @cdixon: Net neutrality: the important thing is to keep the pipes "dumb". Ok to charge by volume. Not ok to discriminate by type of traf…</p>
<p>RT @cdixon: Telco: "Your traffic looks like people are texting so we are charging you texting rates". That would be bad.</p>
<p>RT @BenedictEvans: Something is wrong in the world when France has a more competitive broadband market than the USA</p>
<p>RT @smc90: biting, brilliant satire on public reaction to (& how backwards would be seen) if cash were invented today @polemitis http://t.c…</p>
<p>RT @John_Hempton: Bronte Capital: The really strange Comcast-Netflix deal http://t.co/1cZAvOCOeq $NFLX $VZ $CMCSA</p>
<p>RT @smc90: fascinating post on mobile app usage from @borthwick et al's iOS homescreen analysis [via @myoung] http://t.co/wgVEhr6Vwn</p>
<p>RT @nist: I'll go on record that this analysis of Facebook/WhatsApp will be proven very very wrong http://t.co/A1vkYRLu7Z</p>
<h2>On Later everyone</h2>
<p>Prompted by Net Neutrality topic, but not limited to Net Neutrality topic--also applies to health care, education, banking--speaking as VC:</p>
<p>Government regulation that purports to protect ordinary consumers generally ends up protecting large incumbents.</p>
<p>Because government regulation establishes high stickiness for incumbents, vs new entrants that are unequipped to handle regulatory load.</p>
<p>Large incumbents in any industry are well aware of this, so they play 2-sided game: simultaneously complaining about & embracing regulation.</p>
<p>Which ultimately leads to regulatory capture--intertwined regulators & incumbents; crazy high barriers to entry. http://t.co/UM26PUkY41</p>
<p>Therefore Dodd Frank = Big Banks Protection Act of 2010. Raised barriers to new banks. Result: Big banks more powerful than ever.</p>
<p>Sarbanes Oxley = Big Companies Protection Act of 2002. Raised barriers to new public companies. Result: # of public co's fell off a cliff.</p>
<p>Later, everyone wonders why there's no new competition, incumbents more powerful than ever, then calls for yet more protective regulation...</p>
<p>Then total surprise that regulated sectors of economy languish while more competitive sectors race ahead. Regular consumers are the victims.</p>
<p>It's utterly predictable, yet surprise every single time. Triumph of hope over experience--brought to you by the Good Intentions Paving Co.</p>
<h2>On competitive sharing</h2>
<p>Allee Effect: Phenomenon in biology -- positive correlation between population size/density and mean individual fitness within population.</p>
<p>[Citations: http://t.co/Itu3mrmznq, http://t.co/BdnW4WMcXQ]</p>
<p>Allee was able to demonstrate that goldfish grow more rapidly when there are more individuals within the tank.</p>
<p>Classical view: Due to competition for resources, population has lower growth rate at higher density & higher growth rate at lower density.</p>
<p>Allee effect = positive density dependence; positive correlation between population density and individual fitness..."undercrowding".</p>
<p>Corollary?: # of tech startups targeting an established industry; more = higher odds of success for each?</p>
<p>Even if they're competing for scarce capital/talent, they'll make each other more competitive by sharing a playbook against common enemy?</p>
<h2>On surprising ]</h2>
<p>Red Queen hypothesis: Organisms adapt/evolve not only to gain advantage, also to survive vs evolving opposing organisms in changing context.</p>
<p>[Citations: http://t.co/lA2LvNX5zF, https://t.co/bCsAJrMhGr]</p>
<p>In many populations, the probability of extinction does not depend on the lifetime of the population.</p>
<p>In addition, the probability of extinction is constant over millions of years for a given population.</p>
<p>An adaptation of one species may change the selection pressure on another species, giving rise to an antagonistic coevolution.</p>
<p>The metaphor of an evolutionary arms race -- the description of biological processes with dynamics similar to arms races.</p>
<p>The ability of a family of organisms to survive does not improve over time -- [surprising] lack of correlation between age and extinction.</p>
<p>RT @trengriffin: @stevesi @pmarca @BenedictEvans Yes. Orthogonal to that: the increasing velocity of transfer of producer to consumer surpl…</p>
<p>RT @trengriffin: @pmarca @stevesi @BenedictEvans Certainly not captured in GDP figures. I see lost producer surplus in total profit adjuste…</p>
<h2>On long-dormant copy</h2>
<p>This is exciting for aficionados of the Voynich Manuscript: http://t.co/FwXylwDygz</p>
<p>Odds that a long-dormant copy of Wikipedia circa 2014 will be the Voynich Manuscript of 2614? --> "What were they trying to tell us??"</p>
<h2>On active subject…</h2>
<p>"In 2012, for the first time in history, there were over a billion international tourist arrivals worldwide." http://t.co/LZ92Mi5vm3</p>
<p>RT @lwwarren: @Wikisteff @pmarca @jimmy_wales Britannica = Out of date the moment it's printed. Wikipedia = maybe 10 mins on active subject…</p>
<p>RT @StephenBove: @pmarca @jimmy_wales Could make same arg for Tim Berners-Lee (Http) Paul Mockapetris (Smtp, DNS), other mass enablers who …</p>
<h2>On key driver</h2>
<p>Thought experiment: 1-Wikipedia available to ~5 billion people globally (or soon). 2-Print version of Encyc Britannica cost $1,400 per copy.</p>
<p>So existence of Wikipedia (economic GDP value = ~zero) adding 5B * $1,400 = $7 trillion of new wealth to the world? Hmmm.</p>
<p>Corollary: Jimmy Wales (@jimmy_wales) & colleagues biggest $ impact philanthropists ever? Leave JDRockefeller & WHGates in dust? Hmmm.</p>
<p>RT @heathterry: @pmarca and my set of Britannica's never even had a fully detailed plot summary of the last 50 years of the X-Men.</p>
<p>RT @JulesMaltz: @pmarca @jimmy_wales up there with Gutenberg. Took an expensive private asset (knowledge) and made it a public good.</p>
<p>RT @tcarmody: @pmarca I wrote about this for Wired a ways back. It's no accident that price of a full EB set ~ price of a 1990s PC http://t…</p>
<p>RT @AgentKyle: @pmarca Not counting the immeasurable benefit of freely available knowledge to anyone with an internet connection.</p>
<p>RT @vmocherla: @semil @pmarca Driving the price of knowledge to zero = priceless. Will be key driver for future great innovation all around…</p>
<h2>On social network</h2>
<p>RT @balajis: Some modern railroads I expect to see/would like to fund. First, a Bitcoin social network, one that links social identity to B…</p>
<p>RT @balajis: Right now we have N social identities and K Bitcoin wallets. Connect to build whitepages for Bitcoin: look up identity, pay wi…</p>
<h2>On allow commercial traffic [</h2>
<p>RT @balajis: These railroads were built to open up a physical frontier which officially closed in 1890. See Turner's famous essay: http://t…</p>
<p>RT @balajis: In 1991, with the fall of the USSR & the legalization of commercial traffic on the internet (http://t.co/QDKgDDekt8), a new fr…</p>
<p>RT @balajis: "1991...NSFNET...altered to allow commercial traffic...[the internet] began its record expansion in that very month" http://t.…</p>
<h2>On possible successor</h2>
<p>Enormous, gigantic congratulations to Sam Altman (@sama) & Paul Graham (@paulg) on the big news at YC! http://t.co/2BGuAJJZ27</p>
<p>Sam Altman (@sama) will undoubtedly take YC to even higher heights -- Paul Graham (@paulg) has picked the best possible successor.</p>
<p>And hat tip to Paul Graham (@paulg) for, with his colleagues, building the most amazing startup ecosystem in the world over last 10 years!</p>
<h2>On //t.co/cfwQ9q3QRW veil</h2>
<p>"Containing man’s relations to nature+society, & incorp all skills+knowledge abt material creation+production, technology=very broad scope."</p>
<p>"However, Marx also observed that 'Right down to the eighteenth century, the different trades were called "mysteries."'"</p>
<p>"Then veil of mystery torn apart by 'modern science of technology,' science in which practical artists articulate & explain their own work."</p>
<p>Citations: http://t.co/VDAN4PaAtL, http://t.co/cfwQ9q3QRW</p>
<h2>On political change</h2>
<p>Fascinating look at intersect of tech innovation, entrepreneurship, and political change in modern Middle East -- http://t.co/KlFVBq8gYE</p>
<p>I think same book could be written now about Central & South America, Southeast Asia, China, India, Africa. Things are changing fast.</p>
<h2>Idea 22</h2>
<p>The future of Hollywood: "On the set of the 'Veronica Mars' movie, a Kickstarter dream comes to life" -- http://t.co/dZhH282IHK</p>
<p>"Veronica Mars is back at work... in a project that has no business existing under any of the rules by which we understand Hollywood."</p>
<p>"The Film Shoot Brought to You By Kickstarter, crazy idea by the show’s creator Rob Thomas...$5.7 million crowdfunded dollars later..."</p>
<p>"Ivan Askwith, associate producer: 'These people gave money to a movie that didn’t even exist yet!'"</p>
<p>"Fan Lauren Sierra gave $25 to the Kickstarter campaign. 'I’m a broke college student,' she says apologetically. 'It was all I could do.'"</p>
<h2>On unbelievable fast</h2>
<p>RT @maxua: @pmarca there would be nothing in Ukraine without Youtube, FB, smartphones and Internet. it's unbelievable how fast self-org hap…</p>
<p>RT @gwestr: I have a deep respect for how WhatsApp made a platform for all 2 billion phones, not just the $700 models (S4 & iPhone) like th…</p>
<h2>On economic justice</h2>
<p>"World Protests 2006-2013" from @JosephEStiglitz's Initiative for Policy Dialogue -- http://t.co/PQCjw9fVaL</p>
<p>"There have been periods in history when large #'s of people rebelled about the way things were, demanding change -- 1848, 1917 or 1968."</p>
<p>"Today we are experiencing another period of rising outrage and discontent, and some of the largest protests in world history."</p>
<p>"A steady increase in the overall number of protests every year: from 2006 (59 protests) to mid-2013 (112 protests events in only 1/2 yr)."</p>
<p>"Main causes of outrage are: Economic Justice, Failure of Political Representation and Political Systems, Global Justice, Rights of People."</p>
<p>"Most sobering finding is overwhelming demand, not for economic justice per se, but for what prevents economic issues from being addressed:"</p>
<p>"Lack of 'real democracy', result of peoples' growing awareness that policy-making has not prioritized them, even when it has claimed to."</p>
<p>"Not only traditional protesters (activists, unions) demonstrating; middle classes, youth, older people are protesting in most countries."</p>
<p>"# of protests + # of protestors increasing. 37 events had 1M+ protesters; some may be largest protests ever (100M India '13, 17M '13)."</p>
<h2>On corrupt amp</h2>
<p>From one of the smartest thinkers I know--Kiril Sokoloff of 13D Research--http://t.co/tuD47mQ4Vz: "A contagion of social unrest & violence."</p>
<p>"Ever-expanding list of countries down slippery slope towards chaos or civil war proves: a contagion will continue until proven otherwise."</p>
<p>"Long-suppressed anger in world starting to explode...caused by artificial borders, ethnic and religious hatred, accumulated anger..."</p>
<p>"...past wrongs, growing division bt haves & have nots, corrupt & poorly-led governments, inadequate economic growth, youth unemployment..."</p>
<p>"Growing speculation Ukraine may be headed for civil war. Thailand government being overthrown. Survival of Venezuela’s regime at risk..."</p>
<h2>Idea 26</h2>
<p>RT @johnofa: @pmarca Agree 100%. That's where Orwell got it wrong https://t.co/W9MK4dleDE</p>
<p>RT @mathewi: @pmarca: Agreed -- I wrote about that a little here, inspired by @zeynep: http://t.co/70rIFOYZMt</p>
<p>RT @IvanTheK: @pmarca Harder to suppress dissent when people can congregate virtually in lieu of physically.</p>
<h2>On Every country</h2>
<p>My heart goes out to the people of Ukraine & Venezuela--everyone in US hopes result of your struggles is peace & freedom.</p>
<p>I think it's becoming increasingly clear: citizens of every country no longer willing to tolerate oppressive regimes, bad governments.</p>
<p>Contrary to cynicism in some quarters: Internet + smartphone + many other infotech innovations ramping power of citizens vs bad governments.</p>
<p>Prediction: Every country with bad government will have as many protests & revolutions as needed to get to peaceful, prosperous democracy.</p>
<h2>Idea 28</h2>
<p>Congratulations to our friends/colleagues @Crowdtilt on launch of CrowdtiltOpen, open-src white-label crowdfunding: http://t.co/QReJLxIScS</p>
<p>To quote @photomatt, CrowdtiltOpen "does for crowdfunding what WordPress did for blogging" :-). http://t.co/9iGNJbxu0P</p>
<h2>On new article</h2>
<p>RT @alexismadrigal: More than 50% of the traffic to http://t.co/4etRGZ3Y5g now comes from mobile devices: http://t.co/1QZPJM7VMJ</p>
<p>RT @aantonop: My new article on bitcoin’s security and trust model is published on O’Reilly Radar:
http://t.co/f2VNTklYm8</p>
<p>RT @MichaelMandel: Tech hubs have better inequality performance since 2007 than other large cities. PPI analysis of Brookings data http://…</p>
<h2>On global popn</h2>
<p>RT @IanMaude: @apere006 @tjcsmyth @pmarca @adikamdar global popn took 1.2-1.5 millennia to go from 300-450m. Whatsapp 6 months. investors r…</p>
<p>RT @zedlewski: @pmarca anyone who says Google lacks the research ambition of Bell Labs doesn't know what they are talking about</p>
<p>RT @dkimerling: @pmarca Given simple's acquisition, @ztownsend and I wrote up some thoughts. Thought you might be interested. http://t.co/q…</p>
<h2>On average annual growth</h2>
<p>RT @paulbaumgart: @tjcsmyth @pmarca @adikamdar That translates to only 0.4% average annual growth since 0 AD. WhatsApp seems like the bette…</p>
<p>RT @monkbent: In 2012 US spent $18b keeping immigrants out: http://t.co/vTcZcnC5OI</p>
<p>Yesterday, an immigrant captured $19b in value: http://…</p>
<h2>On another example</h2>
<p>RT @cdixon: Pick one but not both 1) people spend too much time staring at their phones, 2) the apps they stare at are overvalued.</p>
<p>RT @bznotes: Talking to portfolio company CEOs re: their questions on WhatsApp. And reminding them not every company can ignore revenues or…</p>
<p>RT @z6lc7vj7v: Hal Varian’s Information Rules: A Strategic Guide to the Network Economy is actually one of the best books I’ve read on busi…</p>
<p>RT @MParekh: Great Country, America: "How Things Change" @WhatsApp, Co-founders: @BrianActon, @JanKoum http://t.co/Rl4Urykque #Congrats #St…</p>
<p>RT @hunterwalk: Whatsapp acq another example of "never heard of it, must not be big" = WRONG http://t.co/8Nlr534q1J</p>
<h2>On Another prescient</h2>
<p>Liveblog of Facebook/WhatsApp conference call from WSJ: http://t.co/1S7CoW2As1</p>
<p>Prescient think piece by @stratechery/@monkbent from yesterday: http://t.co/1ha4GIAMXI</p>
<p>Another prescient piece from @BenBajarin from last week: http://t.co/mnM12NxIUU</p>
<h2>On h… pdparticle</h2>
<p>RT @pdparticle: @rafat @pmarca WhatsApp has become a solid brand among Indians. “Are you on WhatsApp?” Is the question that is always asked…</p>
<p>RT @TobennaA: @rafat @pmarca add everyone in most African countries and Europe too. Hugely popular all around. Only my US friends haven't h…</p>
<h2>Idea 35</h2>
<p>Congratulations to Whatsapp & Facebook teams! -- "Facebook to Acquire WhatsApp" -- http://t.co/R7RoIv5gqJ</p>
<p>WhatsApp's Jan Koum & Brian Acton are entrepreneurial geniuses and role models -- the best of Silicon Valley -- well done, guys!</p>
<h2>On last year</h2>
<p>Amazing NYT piece on Sudan's version of "The Apprentice"--entrepreneurship is inspiring and driving ppl globally--http://t.co/329hRJu36d</p>
<p>"It was the final episode, live from Khartoum’s 18-story, egg-shaped Corinthia Hotel tower, built by Col. Muammar el-Qaddafi of Libya."</p>
<p>"...Has kindled imagination of Sudanese youth. Friends gathered to watch the evening episodes and rooted for their favorite contestants."</p>
<p>"'I followed the show from the beginning,' said Khalid Muhammad Khalid, 22, a university student. 'It was an inspiration.'"</p>
<p>"'Entrepreneurship is not culturally given a high status...Many would say, ‘Why not get a proper job in government or a company?'"</p>
<p>"Challenging that mind-set is what Mr. Abdelatif and several local businessmen sought out to do. Hence, the birth last year of 'Mashrouy.'"</p>
<h2>On generous donation</h2>
<p>RT @aantonop: Blockchain’s CEO @niccary makes a generous donation to his Alma Mater, the University of Puget Sound, in bitcoin:
http://t.co…</p>
<p>RT @Mark_J_Perry: Because of 12% gender pay gap at White House, female staffers must work until tomorrow to earn what men made in 2013 http…</p>
<h2>On Chinese smartphone</h2>
<p>Congratulations @hbarra & Xiaomi team on first product launch outside of China! http://t.co/krtqP0hYJn</p>
<p>"Chinese smartphone company, Xiaomi, has kicked off its global expansion plans in Singapore--Android devices will go on sale this Friday."</p>
<h2>On new world</h2>
<p>Responses to those 3 deflation questions prompted questions about ongoing role of Moore's Law especially if chip speeds are topping out.</p>
<p>My assessment for silicon: we are shifting from 30 years of "faster performance for same $" to 30 years of "same performance for less $".</p>
<p>Which means at least three dramatic changes in how we think about functionality & performance of computing in our lives:</p>
<p>1: On a device (e.g. smartphone), rising use of parallelism (more cores and/or chips for same $), including graphics & many new sensors.</p>
<p>2: In cloud, massive parallelism applied against many more big problems -- Google & FB just the start; amazing new services in many sectors.</p>
<p>3: Ultra-cheap chips on network embedded in virtually every physical object around us; feeding info on real world + controlling real world.</p>
<p>User experience blends (1) Device in hand + (2) On-demand use of huge # of cloud supercomputers + (3) Online links to every physical object.</p>
<p>Most use cases for this new world were inconceivable in PC era. Literally no way to provide them -- couldn't be done; couldn't be imagined.</p>
<h2>On fly-by-night university</h2>
<p>Finally, serious economists are starting to take the time to study cryptocurrency & Bitcoin beyond the cliches -- http://t.co/8xtBZWjI7v</p>
<p>"Athey believes...cryptocurrency is 'a simple, powerful technology superior to existing technology,' with major drivers for wide adoption."</p>
<p>"Even if everyone just broadcasting the fundamentals, a lot of new information about the fundamentals...not surprising value is changing."</p>
<p>"Athey says, 'When you really think about what we do today in the banking system...it's stunning that's the way we do business in 2014..."</p>
<p>"...It seems very natural that things will change. It's only surprising that they haven't changed already.'"</p>
<p>Economist quoted is Susan Athey, at some remote, probably unaccredited fly-by-night university called Stanford... https://t.co/CArK8Sna2I</p>
<p>Related: Could smart reporters writing Bitcoin stories please explain to photo editors that photos of shiny gold coins don't make sense? :-)</p>
<h2>On great seaman</h2>
<p>"America was discovered accidentally by a great seaman who was looking for something else, when discovered it was not wanted..."</p>
<p>"...and most of the exploration for the next fifty years was done in the hope of getting through or around it." --Samuel Eliot Morison</p>
<h2>Idea 42</h2>
<p>RT @eliz_beth: @sklardie @ZacharyJeans @pmarca My daughter is now 7 and was using iPad/ipod since she was maybe1.5?</p>
<p>RT @eliz_beth: @sklardie @ZacharyJeans @pmarca Just set her up with email, she loves writing us messages. Win-win reading, writing, & tech.</p>
<p>RT @abhishekdesai: @pmarca Conducted "Hour of Code" at out office for 1st, 2nd, 3rd grade students and almost all completed it! https://t.c…</p>
<p>RT @deepakshenoy: @pmarca my 2 year old instantly clicks the skip ad link on youtube and the X to close ads in games. Advertising needs a …</p>
<p>RT @zseward: @pmarca NYC subway, summer 2012 http://t.co/e2pGdMCWCz</p>
<p>RT @ayouti: @pmarca My 3-year-old daughter enters the iPhone unlock code, is comfortable with apps, and deletes the games/photos she doesn'…</p>
<h2>Idea 43</h2>
<p>RT @jeremyzilar: At 4.5yrs @keplr had learned how to do a Google image search for what he wants to see http://t.co/t9eQnM6jij CC @pmarca</p>
<p>RT @sushobhan: One more child transfixed by a screen @pmarca again in Bangkok http://t.co/jgWVI18xnW</p>
<h2>On key thing</h2>
<p>RT @mvboeke: @pmarca Today a zoo keeper told me the orangutans used an iPad to learn shapes, color and rudiments of language.</p>
<p>RT @ianpatrickhines: @pmarca Absolutely. You should see what my four year old can do with an iPad. He doesn’t even think of it as “a device…</p>
<p>RT @Kiteaton: @Yarcom @pmarca 6?! Bah. My 3 year old knows how to open apps, use gestures, switch apps, tweak the volume, dismiss pop-up op…</p>
<p>RT @stevenbjohnson: Re: latest @pmarca twitter essay, here's the study showing real-world echo chamber effect is much worse than online htt…</p>
<p>RT @dangillmor: @stevenbjohnson real world (incl traditional media) lacks the key thing that helps folks on the Internet see opposing views…</p>
<h2>On important whatever</h2>
<p>The Virtual Hypothesis: Whatever is happening on the screen in front of you is more interesting than whatever is happening around you.</p>
<p>Virtual Hypothesis (Strong): Whatever's on screen in front of you is more interesting & more important than whatever's happening around you.</p>
<h2>On 'skip ad</h2>
<p>RT @robotenomics: @pmarca RT @DrTomCrick Five observations by a female programmer aged 7. Very astute! http://t.co/gandm2QAnj (HT @KathrynP…</p>
<p>RT @nikcub: @pmarca my 2 year old nieces first words she put together were 'skip ad', in reference to YouTube</p>
<h2>On old finished high</h2>
<p>RT @yannbrandt: @pmarca I interviewed for JohnsHopkins a 13 year old finished with high school through virtual school. We have to increase …</p>
<p>RT @aspidistra_dev: @pmarca There are games my daughter could play at 18 months. Some apps better designed than others, but touchscreen imm…</p>
<p>RT @cherian_abraham: @pbaratelli @pmarca I'm using his love for Minecraft to pique his interest in programming thru "Scratch" tht he can cr…</p>
<h2>Idea 48</h2>
<p>RT @SnazzyHam: @pmarca my cousin is in the 1st grade and already uses keyboard shortcuts. He's halfway through one of the hour of code chal…</p>
<p>RT @Ailish_Campbell: My 4 yr old asked me if I was stopping the car, or if the car was "scanning" the stop sign @pmarca. My brain needs to …</p>
<p>RT @voorheesamy: @pmarca Watching my non verbal 8yo w/autism use proloquo2go on the ipad to communicate is nothing short of stunning. She'…</p>
<h2>On old tired watching</h2>
<p>RT @alanwarms: @pmarca sooner than that. 8th graders who've never used MS Office - all work being done native on iPad</p>
<p>RT @ianwaring: @Yarcom @pmarca My 1 yr 10th old Granddaughter. iPhone/iPad native, though tries to swipe "Skip Ad" on the TV too http://t.c…</p>
<p>RT @sandymaxey: @EdG42 Fingerprints on car passenger window where my Littlest Mini tried to "scroll the window down." @pmarca</p>
<p>RT @fiatluxfm: @pmarca my six month old daughter seems disappointed when she taps or swipes a regular children's book and nothing happens</p>
<p>RT @dbhyslop: @pmarca Son at 15 months taught himself to play matching game on iPad by trial & error. Years before he'd be able to play it …</p>
<p>RT @Ailish_Campbell: Yes @pmarca. My little digital natives see world as adaptable & info as ubiquitous. Also ask why everything doesn't "w…</p>
<p>RT @stephenballot: @pmarca my one and a half year old took one iteration to figure out that all the action is in the Games folder on my iPh…</p>
<p>RT @jmackin2: @pmarca Not sure need to wait that long - have 9 year old who is using Python on Linux for grid computing</p>
<p>RT @StantonGrove: @pmarca iPad has my 2yo prepped for Kindergarten 3 yrs early. Identifies shapes, numbers, letters, phonics, basic math. A…</p>
<p>RT @SBGallo: @pmarca my neighbors 3 yr old was tired of watching a show - started swiping across the tv screen to change the channel</p>
<h2>On frm village</h2>
<p>RT @martina_skelly: @pmarca I'm a Mom of 3, living in rural Ireland running an award winning SaaS start-up with customers in 31 countries. …</p>
<p>RT @JustinWolfers: Your iPhone would have cost $3.56 million in 1991: http://t.co/kIuKA3ALN6
This is why it's so hard to measure changes in…</p>
<p>Walk through Stanford Shopping Center this weekend eye opening. Sheer # of kids ages 3-6, some in strollers, glued to tablets/smartphones.</p>
<p>Very young kids showing complete fluency with touch screen interaction, playing visually complex/dynamic games & education apps.</p>
<p>Totally new phenomenon: prior generation of kids could first start using laptops fluently at ages 10-12? Now accelerated ~6-8 years!</p>
<p>First generation of fully digital native people are toddlers now (!). Will astonish us in 20 years with creativity, ingenuity, capability.</p>
<p>Funniest scene: ~7 year old boy playing XBox One hi-def basketball in Microsoft Store. ~5 year old brother ignoring, absorbed in own iPhone.</p>
<p>RT @shaig: @pmarca iPad is so well designed, My then 1.5 year old daughter unlocked/swiped, launched Netflix app, selected video on her own</p>
<p>RT @TerryBarnes72: @pmarca my 3yo son has cerebral palsy & uses an ipad. His aptitude with it is amazing - it seems utterly intuitive to hi…</p>
<p>RT @EdG42: @pmarca In a recent study we watched an 18mnth old walk up to a flatscreen TV and try to "swipe" the screen to change the image.</p>
<p>RT @Bitcoin_Invest: @pmarca My 5 yr old nephew brought his tablet to my house a few weeks ago and asked what my wifi login was at my house.</p>
<p>RT @ayanb: @pmarca 8 months old, Bangalore suburb, cant stand on her feet yet, but can swipe the ipad, open youtube app & start watching ba…</p>
<p>RT @SteveLussier: @pmarca pace G Dyson: evolution now likely to favor children best at communicating with computers AND computers best at t…</p>
<p>RT @Yarcom: @pmarca 6-8? My <em>2 year old</em> uses the iPad as if she's been using it for years.</p>
<p>RT @Ronin_Jim: @pmarca Always fun to watch a young kid reading a magazine looking confused when their page swipe does nothing.</p>
<p>RT @brownsam: @pmarca When I was 3, I was eating soil, never mind fluently using a touch screen.</p>
<p>RT @waqasaday: @pmarca started 2 years back frm a village in Pakistan, sold shoes in 17 countries, partnered w/ Fab, now visiting SV & Zapp…</p>
<h2>On I’d either</h2>
<p>RT @blankenship: @pmarca I grew up in a Southern small town. The web makes a “city experience” available to all, even rural people. Geograp…</p>
<p>RT @blankenship: @pmarca If I would have had web access as a kid in a town of 3000, I’d either be a different person, or have become the sa…</p>
<h2>On internet= gt</h2>
<p>RT @sqrtnegative1: @pmarca @aliciatweet Future Perfect by @stevenbjohnson addresses this; claims that internet=>easy access to opposing ide…</p>
<p>RT @pummer: @pmarca this is right-it's happening before our eyes. a kenyan goat farmer today can have access to more information than obama…</p>
<h2>On enormous unlocking</h2>
<p>What is "normal"? 1950's US: white, male, adult, heterosexual, married, kids, owns house, owns car, job w/1 co, extrovert, verbal > math.</p>
<p>For last 60 years, we've been doing dismount from every single one of these -- for what "normal" means. Still in process. Distance to go.</p>
<p>Theory: Internet is catalyst to finish the process. Each individual can find others alike; pressure to conform or alienate greatly reduced.</p>
<p>Result: Enormous reduction of societal alienation; corresponding enormous unlocking of human potential across all members of society.</p>
<p>Corollary: Massive power shift between those currently viewed as "normal" and those not. Across each axis of difference, and all combined.</p>
<h2>Idea 54</h2>
<p>RT @TechCrunch: As Mt․Gox Implodes, Rival Bitcoin Exchanges Remain Surprisingly Stable http://t.co/aqzbAYT8cL by @alex</p>
<p>RT @semil: Elon Musk's own "seed" into SpaceX was essentially 17 microVC funds rolled into a space exploration company.</p>
<h2>On real-time market</h2>
<p>RT @LeslieBradshaw: Let the haters motivate you. Be the honey badger. @Yahoo exec called @reddit a rounding error in 2005. Motivated me dai…</p>
<p>RT @polemitis: Journalists: Mt Gox price currently only real-time market on probability Mt Gox is solvent. Currently more than 2:1 agains…</p>
<h2>On clean judgment</h2>
<p>RT @vgr: . @pmarca @asaadhutchinson Smarm alert! Exercise in holier-than-thou doerists gleefully expanding synonym space for "shut up!"</p>
<p>RT @nntaleb: .@pmarca The Greeks believed that someone who HAD TO to work for a living could not form a clean judgment of things. Which is …</p>
<h2>Idea 57</h2>
<p>"The term is from a comment purportedly made by Apelles, a famous Greek artist, to a shoemaker who presumed to criticize his painting."</p>
<p>"The Latin phrase 'Sutor, ne ultra crepidam', as set down by Pliny, means that a shoemaker ought not to judge beyond his own soles."</p>
<h2>On old german</h2>
<p>Onion: "Newly Tenured Professor Now Inspired To Work Harder Than Ever" -- http://t.co/mEVrj8t1Xz</p>
<p>RT @EAWharton: @pmarca pro sports is one of the fields where this is the most rampant. Twitter has helped tech drift there too</p>
<p>RT @libovness: @pmarca Notable that men are more often guilty of having opinions on things they don’t know about than women are - it’s call…</p>
<p>RT @StephenBove: @pmarca That would be "Anfälligkeit für Idioten" - old german phrase for a field's vulnerability to the opinions of idiots…</p>
<h2>On Humorous visual sheer</h2>
<p>Interesting @NickKristof column on growing marginalization/absence of academics from public issues/real world--http://t.co/oeftvJMFNQ</p>
<p>.@NickKristof says "Ph.D. programs have fostered a culture that glorifies arcane unintelligibility while disdaining impact and audience."</p>
<p>If true, then would expect smart academics who want real-world impact to increasingly leave academia, and e.g. start companies.</p>
<p>No tenure system in business world--"succeed or perish", not "publish or perish". Highly satisfying for personality type that wants impact.</p>
<p>For this reason, some universities making it much easier for profs & grad students to leave & return, even repeatedly. Controversial topic.</p>
<p>Delicate balance. Don't want to ruin what makes academia special. Do want to enable people to make maximum contribution to world.</p>
<p>RT @balajis: Humorous visual of the sheer number of devices replaced by smartphones. See also: http://t.co/S5q8nu9IKx http://t.co/VlvvjlqODo</p>
<h2>On hard tell</h2>
<p>RT @fawceisfawce: @pmarca competence stems from self-evaluation. Evaluating competence in design: hard Realizing you don't know boo abt qua…</p>
<p>RT @JonDBrown: @uaflyer Exactly my point. Anyone can try to fly/land. #dead Like designing, skill of flying is in proper & successful execu…</p>
<p>RT @twobitidiot: @pmarca UI/Creative/Hiring rely on prediction. Coding/Accntng/Media rely on past & present performance. @nntaleb split 2 t…</p>
<p>RT @WilliamBerkson: @Celt_Englishman @pmarca Clarity of feedback; Popper-testability. This is quality of explanatory theory of what works, …</p>
<p>RT @DShaywitz: @pmarca outstanding discussion of topic: Louis Menand's review of Tetlock in New Yorker, "Everyone's An Expert": http://t.co…</p>
<p>RT @ChetanChawla: @pmarca that sounds like the Dunning Kruger Effect http://t.co/5CjH28aycN</p>
<p>RT @mistercasey: @pmarca 2 by 2 matrix: willingness to opine on a topic vs. odds of having a valid opinion. Need a name for high willingnes…</p>
<p>RT @stevesi: @twobitidiot @pmarca @nntaleb see Cynefin http://t.co/apaBv2w3T8 for a taxonomy along those lines. http://t.co/kLyI39LOKu</p>
<p>RT @David_Kasten: @thewillbeard @pmarca we also ask citizens to weigh in on normative side of these routinely as voters -- which obscures t…</p>
<p>RT @z6lc7vj7v: .@fawceisfawce Different areas have different degrees of falsifiability, eg: quantum physics statements are easier to falsif…</p>
<p>RT @techguerilla: @pmarca Point is it seems to be skills that are outside our ability to imagine ourselves having expertise. (surgeon, math…</p>
<p>RT @techguerilla: @pmarca So if I can frame a problem in which it seems the answer is ‘opinion’ (no matter the expertise), I have right to …</p>
<p>RT @luisdarbulu: @pmarca no difference. People always <em>think</em> their opinions are valid in every subject (see: alternative medicine, thorium…</p>
<p>RT @brigode: @pmarca non-experts giving advise aggressively = dilettaunting</p>
<p>RT @MasterMarquette: @pmarca spreach</p>
<p>RT @stevesi: @mosjef @pmarca fields where you consume output which confuses you into thinking you can create output (advertising, ux design…</p>
<p>RT @oakpassrd: @mosjef @pmarca can't help but think of baseball chatter vs moneyball. for fun i prefer chatter, in my own field i would dem…</p>
<p>RT @dandrezner: @pmarca I call this the "Thanksgiving Dinner Test." Topics that are open to debate around the dinner table = little respect…</p>
<p>RT @Kwdmiller: @pmarca in business the latter is loosely called “strategy” <em>sigh</em></p>
<p>RT @alephbass: @mistercasey @pmarca blowhard isn’t good enough? Or perhaps you were looking for the technical term, “O’Reilly Factor”.</p>
<p>RT @wolfeb99: @thewillbeard @pmarca it is hard to tell the difference in some of those areas btwn those who fail and learn and those who fa…</p>
<h2>On 're business</h2>
<p>RT @CedFunches: @pmarca opinions aren't strategy. They're just a business card for your ego.</p>
<p>RT @DataMiller: @mathewi @pmarca @ade_oshineye A lot of people think they can Science, but they all stop at the front end: hypothesis.</p>
<p>RT @anildash: @pmarca splainophilic vs splainophobic disciplines?</p>
<p>RT @nntaleb: @LouisLebbos @pmarca Hard vs soft (or narrative) sciences.</p>
<p>RT @ammielkamon: @pmarca good PM, Marketing, or Design are product of learned skills, experience, methodology and solid process. Not just V…</p>
<h2>On UX/design delib…</h2>
<p>RT @ramit: @pmarca This is "The Bike Shed" Effect: nobody debates an atomic reactor, but they feel strongly about paint color http://t.co/6…</p>
<p>RT @jaredran: @pmarca Expert Customer vs Everyone Customer. Everyone is a customer of Product, UI etc and we are taught that customer feedb…</p>
<p>RT @tomguarriello: .@pmarca your thoughts remind me of CP Snow’s “two cultures” http://t.co/9Xqsi3w6GJ</p>
<p>RT @carribeiro: @zaw56 @pmarca Knowledge popularization has a long history of controversy. Goes as far as translating the Bible in vulgar l…</p>
<p>RT @morganwarstler: Read this ESPN piece on difference of opinion between talkers and players @timmyconspiracy @pmarca http://t.co/qQxHu613…</p>
<p>RT @hemalkuntawala: @pmarca We operate no "HiPPO" policy, "Highest Paid Person's Opinion". They always have a say on UX/design and we delib…</p>
<h2>On Related concept</h2>
<p>Need a term for difference between fields where deep skills are respected, vs fields where everyone thinks they can have a valid opinion.</p>
<p>See this in business all the time. Deep professionals respected in software coding, network ops, accounting, contract law, media relations.</p>
<p>But everyone thinks they have valid opinions on product strategy, UI design, advertising creative, patent litigation, hiring criteria.</p>
<p>Related, concept of drive-by tourism of complex fields in media/commentary. Things easy to opine on vs impossible to opine on.</p>
<h2>Idea 64</h2>
<p>Liberation theology originally attached to PCs: Read Ted Nelson http://t.co/hFIHYzdZco (very bitter) & John Markoff http://t.co/IGVh8UWXfI</p>
<p>Liberation theology originally attached to Internet: Every issue of Wired Magazine from 1994 to 2000 :-).</p>
<p>Also read George Gilder: Microcosm http://t.co/9UpGUfRp4a and Telecosm http://t.co/GcngMwgEme</p>
<h2>On every time</h2>
<p>Philosophy: New ideas (including new technologies) come from the fringe. Naturally--by definition, not going to come from establishment.</p>
<p>Since new ideas/technologies come from the fringe, they often also come with fringe politics attached.</p>
<p>In tech, this was true of both PCs and the Internet, both of which came with liberal/libertarian version of liberation theology attached.</p>
<p>In time, the new idea/technology mainstreams, leaving fringe politics behind. Mainstream politics adapts to accommodate new idea/tech.</p>
<p>Mainstreaming naturally alienates and embitters the original fringe political advocates, causing them to move on to other new ideas/tech.</p>
<p>In time, the original fringe politics are completely forgotten and the new idea/tech is viewed as normal and obviously inevitable.</p>
<p>In the West, we have been in this cycle for at least 500 years. Despite that, it is still a shock every time it happens.</p>
<h2>On historical precedent</h2>
<p>RT @semil: Interesting point to ponder by @robustus "Apple banning #bitcoin wallets creates a class of revolutionary apps that only exist o…</p>
<p>RT @balajis: "I want to make it clear that the students who created Tidbit have the full and enthusiastic support of MIT" - http://t.co/KC8…</p>
<p>RT @cdixon: Open Libernet: adds incentives (modeled on Bitcoin) to mesh networking to replace ISPs. http://t.co/Fe6yDClZwK</p>
<p>RT @BenedictEvans: I'm a big fan of comparisons that are unfair but relevant. That's what disruption means. The more unfair, the more disru…</p>
<p>RT @aantonop: I find adversarial debates about crypto currencies tiresome. Uninformed conjecture and lack of historical precedent make them…</p>
<h2>On weird version</h2>
<p>RT @mengwong: The Internet in 2014 is like a weird version of 1994 Unix… every utility in /usr/bin/ now has VC funding and a Twitter strate…</p>
<p>RT @wmougayar: #Bitcoin Quiz How many publicly tradeable cryptocurrencies are there? A.75 B.112 C.83 D.126 @pmarca @cdixon @balajis @aanton…</p>
<h2>On last year</h2>
<p>RT @mistercasey: @pmarca The protestors should really be calling attention to supply constraints but instead demonize demand growth.</p>
<p>RT @semil: @pmarca last year, wrote a post on this but called for additional initiatives in concert w/ increased housing supply http://t.co…</p>
<h2>On supply-and-demand analysis</h2>
<p>"San Francisco is a city where a technology-fueled housing boom has collided with a draconian rent-control law."</p>
<p>"High rents on uncontrolled apartments (desperate renters w/nowhere to go) + absence of new construction despite high rents? Predictable."</p>
<p>"Bitter relations between tenants and landlords, arms race between ever-more ingenious strategies to force tenants out? Predictable."</p>
<p>"As for the way rent control sets people against one another... that's predictable, too."</p>
<p>"The pathologies of San Francisco's housing market are right out of the textbook, exactly what supply-and-demand analysis predicts."</p>
<h2>On 3rd lowest</h2>
<p>Interesting analysis of tech's impact on San Francisco economy (if soft on rent controls & building restrictions): http://t.co/ainhRbMx2O</p>
<p>"Two-thirds of 40,000 new jobs in SF since 2010 do not require a computer science degree or a closet full of expensive sneakers."</p>
<p>"The San Francisco Bay Area enjoys the 3rd lowest unemployment rate (4.8%) of California’s 58 counties."</p>
<p>"Every tech job creates five jobs in other industries, as compared to just additional two jobs from a manufacturing job."</p>
<p>"After Seattle significantly increased housing construction, rent hikes slowed even during a jobs boon that outpaced San Francisco’s."</p>
<h2>On vocal quality</h2>
<p>Let's close out Beatles 50th anniv of landing in US week with some more reviews from the time... http://t.co/El1mBWI2pW</p>
<p>"With their bizarre shrubbery, Beatles are obviously a press agent's dream combo. Not even their mothers would claim that they sing well."</p>
<p>More WmFBuckley! "They qualify as crowned heads of anti-music, even as the imposter popes went down in history as 'anti-popes.'"</p>
<p>Newsweek: "Visually they are a nightmare, tight, dandified Edwardian-Beatnik suits and great pudding bowls of hair."</p>
<p>"Musically they are near disaster, guitars and drums slamming out merciless beat that does away with secondary rhythms, harmony and melody."</p>
<p>"Their lyrics are a catastrophe, a preposterous farrago of Valentine-card romantic sentiments."</p>
<p>NYT got down: "The Beatles' vocal quality is hoarsely incoherent, with minimal enunciation necessary to communicate the schematic texts."</p>
<h2>On i… cdixon</h2>
<p>RT @Ke_Ga: Fireside chat with Marc Andreessen - @pmarca http://t.co/l4OoQ5xdjF interview by @sarahcuda - must watch talk for anyone in tec…</p>
<p>RT @cdixon: "Fish prices stabilized immediately after phones were introduced, and fishermen’s profits actually increased" http://t.co/O3CkZ…</p>
<p>RT @frank_rieger: The beauty of Bitcoin is that it takes away all lofty claims about system security. Bad code quality directly tranlates i…</p>
<h2>On new history</h2>
<p>RT @aantonop: The historical precedents don't inform the debate on crypto-currencies because they assume a centralized context and trust mo…</p>
<p>RT @aantonop: Nobody can know what happens next for crypto-currencies because they've never happened before. We're all living new history b…</p>