… that require permission. As long as what you’re about to do won’t destroy the company, just do it. Bottlenecks can take the form of people, process, paperwork, and permission. We’d much rather things run smoothly, than stop and verify at each step. Surely some things can go wrong this way, but few things do, and far more things just go right, frustration-free. Noah wrote more about this here.
…ll over 100,000 paying customers, and a few million individual users, with a staff of just over 50. Small companies avoid big company problems. Less management is required, fewer layers necessary, less lost in translation, significantly fewer bottlenecks and formal processes that tend to keep people waiting around for permission to move forward with something. Everything’s more direct in smaller companies, and everyone’s closer to our customers, too. Surely …
…em, but instead in a new type of organization called a decentralized autonomous organization (DAO). A DAO is best described as a group of people bound together not by a legal entity and formal contracts, but instead by cryptographic tokens (incentives) and fully transparent rules that are written into the software.
…not only to define a protocol, but to fund the operating expenses required to host it as a service. Bitcoin and Ethereum have tens of thousands of servers around the world (“miners”) that run their networks. They cover the hosting costs with built-in mechanisms that automatically distribute token rewards to computers on the network (“mining rewards”).
…centivize open network participants, including users, developers, investors, and service providers. By enabling the development of new open networks, tokens could help reverse the centralization of the internet, thereby keeping it accessible, vibrant and fair, and resulting in greater innovation.
These companies also control massive proprietary developer platforms. The dominant operating systems — iOS and Android — charge 30% payment fees and exert heavy influence over app distribution. The dominant social networks tightly restrict access, hindering the ability of third-party developers to scale. Startups and independent developers are increasingly competing from a disadvantaged position.
I used to lock myself in that prison. Surrounded first by my possessions. Then surrounded by my goals. And the opinions people had of me. And the opinions people had of me. And my anxieties about tomorrow, which always drained me of energy for today.