permissionless innovation in the early internet was enabled by open protocols AND protected by a strong regulatory foundation: the first amendment. 

the fundamental unit of the internet is packets, containers for arbitrary information-and transmitting information is generally protected as free speech. 

the fundamental unit of crypto is tokens, containers for arbitrary value-and transmitting value is generally among the most highly regulated activities in world. 

so while permissionless innovation in crypto is similarly enabled by open protocols, it’s lack of a regulatory protection or clarity has been limiting.

Intriguing perspective!  as the First Amendment safeguards free speech and enabled the early internet's growth, crypto needs clear, thoughtful regulation to realize its full potential. Let’s aim for a framework that protects innovation without stifling it, fostering trust and growth in tandem.