One key concept is that a token’s codebase is different from its blockchain database. As an offline analogy, imagine if the US banking infrastructure was repurposed to manage Australian dollars: both are “dollars” and have a shared cultural origin, but a completely different monetary base. In the same way, two tokens may use similar codebases (monetary policies) but have different blockchain databases (monetary bases).
The most important takehome is that tokens are not equity, but are more similar to paid API keys. Nevertheless, they may represent a >1000X improvement in the time-to-liquidity and a >100X improvement in the size of the buyer base relative to traditional means for US technology financing — like a Kickstarter on steroids. This in turn opens up the space for funding new kinds of projects previously off-limits to venture capital, including open source protocols and projects with fast 2X return potential.
…e have streamed into Cairo, doubling and tripling its population by forming tremendous shantytowns. Unemployment was extreme, as it’s not like the cities suddenly had tens of millions of new jobs in them; the government kept order as well as it could by importing grain in tremendous quantities (the government’s by-far largest annual expense) and selling bread cheaply. Unfortunately, a drought in Russia and Ukraine, Egypt’s primary suppliers, caused those countries to cut off wheat exports in 2011 — and the government collapsed soon after.