Jack Solowey

@jacksolowey

195 Following

160 Followers

Amanda Tuminelli pfp

Amanda Tuminelli

It was an honor to advocate on behalf of DeFi developers and users in front of the House Financial Services Subcommittee on Digital Assets today. I was grateful to sit next to the extremely talented experts @rebecca-r, @valkenburgh and Brian Avello.

6 replies

13 recasts

49 reactions

George Leonardo pfp

George Leonardo

For this week’s newsletter, @nic shares his thoughts on the state of crypto adoption, how policy impacts investment decisions, stablecoins, Operation Choke Point 2.0, the 2024 election, and more. Check it out here 👉 https://ckarchive.com/b/4zuvheh5xde39s6ovveola679e777s5

1 reply

8 recasts

41 reactions

alli pfp

this is like the eras tour for men who live in SF

1 reply

21 recasts

71 reactions

Jack Solowey pfp

It’s happening, as the kids say.

0 reply

0 recast

0 reaction

erica pfp

5 replies

2 recasts

18 reactions

Jack Solowey pfp

To say that the SEC "has loosened rules that make it much easier to invest in crypto" is like saying Venezuela suffers from "brutal capitalism." https://x.com/JackSolowey/status/1821907029918695822

0 reply

8 recasts

41 reactions

kevin mfer 🎩 pfp

kevin mfer 🎩

my parents listening to me talking about farcaster, frames & all the lit shit here

36 replies

9 recasts

86 reactions

balajis pfp

The UAE deserves more study. It is technocapitalist. And a top location for global investors. It’s truly a nation of immigrants. Less than 15% Emirati, >85% foreign. It’s in hypergrowth. From 75k to ~10M people in 75 years. It’s like a Mars colony. Built a metropolis from nothing. Very impressive place.

38 replies

32 recasts

186 reactions

Jack Solowey pfp

My thoughts on the rise of *decentralized expertise* following the global financial crisis and the lessons from crypto, DeFi, and retail investor empowerment for a way out of our ongoing crisis of trustworthiness: https://warpcast.com/jacksolowey/0xd541e05f

0 reply

1 recast

2 reactions

Jack Solowey pfp

To do otherwise is to fundamentally misconstrue the responsibility of authority in a democratic republic. Standing athwart public enlightenment is no answer. Denying the public the tools thereof is no virtue. 11/11 For more: https://metaverserb.substack.com/p/decentralized-expertise

0 reply

0 recast

0 reaction

Jack Solowey pfp

We need a fundamental shift in how authority understands its role. Step 1: admit & accept the new reality. Step 2: optimize w/in that reality by deploying decentralized responses—such as the common law and private bargaining—to the rise of decentralized expertise. 10/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Applying investment adviser rules to distributed (including open-source) LLMs would restrict access to affordable financial expertise. Instead of futilely fighting to preserve a monopoly on expert gatekeeping, policy should incentivize quality from decentralized sources. 9/

1 reply

0 recast

0 reaction

Jack Solowey pfp

LLMs giving financial advice present a new regulatory challenge. The classic criterion distinguishing regulated financial advice from mere information is *personalization.* Advanced LLMs have been shown capable of personalizing advice. Don't bet on SEC shrugging & moving on. 8/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Traditional authorities are threatened by new information because of its sources, not its quality. And they ain't seen nothing yet. Advanced AI in the hands of retail users raises the stakes. AI is poised to accelerate the power of distributed financial intelligence. 7/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Here, elitism/paternalism does not equal (!=) wisdom. Hostility to applied cryptography in an age of cyber threats? Really? And meme stock trading forums like r/WallStreetBets were found to include informed due diligence, discerning readers, and beneficial recommendations. 6/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Crypto and "Meme Stocks" provoked in financial regulators what Gurri would call a "counter-revolution." Crypto's been met w/ de facto bans & lawless crackdowns. Meme stock trading was met w/ paternalistic proposals: make apps less user friendly; restrict social media. 5/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Disillusionment w/ centralized authorities defines two bottom-up fintech phenomena that emerged after the Global Financial Crisis: cryptocurrency and retail investor empowerment (think GameStop). They each have decentralization—of governance and knowledge—at their core. 4/

1 reply

0 recast

0 reaction

Jack Solowey pfp

As Bari Weiss recently wrote, though, the trust crisis is really a "trustworthiness" crisis. And Gurri had traced it to 9/15/08, when Lehman Brothers filed for bankruptcy. The Global Financial Crisis & slow recovery were a double disillusionment w/ experts. 3/ https://x.com/mgurri/status/1815535824307658887

1 reply

0 recast

0 reaction

Jack Solowey pfp

The best diagnosis I've seen for our condition is Martin Gurri's The Revolt of the Public. I'll do my best to recap (too quickly) his must read: when institutions at the commanding heights lost their “monopoly on information” (when we got alternatives), public trust went w/ it. 2/

1 reply

0 recast

0 reaction

Jack Solowey pfp

Elite disfunction defines our age. Whether you call it "Brokenism," "late Soviet America," or something milder, the underlying scandal is the same. While better minds than mine debate the best frame, I'll explore how *decentralized expertise* can help us out of our crisis.🧵

1 reply

0 recast

0 reaction