We’ve forgotten there’s a better way to build internet services

Roundup of lots of recent posts on crypto tokens:

Balaji S. Srinivasan — Thoughts on Tokens
Fred Wilson — ICOs and VCs here, Ethereum in 25 minutes, Polychain
Joel Monegro — Fat Protocols
Nick Tomaino — Cryptoeconomics 101 , Some Blockchain Reading, Tokens, Tokens…

From Benedict Evans’ Cars as Feature Phones:

This is a common theme in many classes of device: you start with a product that has a few electronic functions added, and then those functions are delivered with chips, and perhaps they gain an interface and then a…

As [Edwin] Land ultimately recognized, the adoption of his [polarized headlight] system was fatally hampered by the fact that there was no competitive advantage for any car company in using it first. Since all cars needed to incorporate the technology as simultaneously as possible, it was either going to be all, either voluntarily or as directed by…