Pete Cooling

@petecooling

83 Following

228 Followers

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programmability is eating the world, starting with money finance and culture

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there is an extraordinary change going on in the financial system crypto is new, holistic, and integrated for everyone in the world to interact with unlike the existing system which is fragmented and exclusionary

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The first recorded millionaire in the U.S. was John Jacob Aster around 1800 (fur, opium) The first recorded billionaire in the U.S. was John D. Rockefeller in 1916 (oil) The first recorded trillionaire in the U.S. will be in the next couple decades (ai, crypto)

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if the global financial system was sound crypto would literally have no value

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L1 - monolithic L2 - scaling L3 - apps

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it's time to start paying attention to defi again

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investors, managers, and founders often miss the most important ingredient to success...insight insight is the critical skill that 99% of people lack, yet is required for success - and it doesn't exist on a spectrum you either have it or you don't

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we've never seen economic change happen as quickly as it has the last decade. the old system is crumbling, giving way to a rebirth of money and a new age of financial freedom

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In the 50's a check took 2 weeks to move through the banking system, called float money float has dissipated since, yet remains removing float by using blockchains will compress time & events by allowing money to be sent/received in milliseconds the impact will be profound

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either populations use AI to exert control over their govt or govt will use AI to exert control over their populations

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less than 50% of people in the world are able to participate in the internet economy that's a huge problem the crypto economy excludes no one

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something digital in nature should not see a decrease in value but a premium due to an increase in utility (distribution, shareability, divisibility, liquidity, etc)

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all i want to do is move money across all my accounts instant and free today it's impossible but soon users will just be clicking buttons across their fav fintech/social apps and txs will get sent out to blockchains without them having to know or care

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naivety can be a superpower

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if you only counted each crypto user once and removed those using the product bc they're paid to you'd have 7 monthly active crypto users and 30k developers that's 4285 devs/user - a level of commitment to users unmatched by any industry...even AI

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DAOs and network states are an expression of our collective memetic desire to renegotiate the social contract

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by owning your own digital credentials (accts, money, identity) you are in control and only expose them to the people and organizations you want to have them THIS is freedom on the internet

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why do we fail to alleviate social and economic debt while computing platforms easily overcome tech debt?

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the threshold we are about to cross is unimaginable to most people we're entering the age of self-reliance

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to travel abroad in 70s, one would search yellow pgs, go to office, pay $ for trvlrs checks, take checks to dest cntry, find loc Amex office, drive x km's, hope it's open, pay $ for fx and convert way too much to avoid doing it all again now project this progress into the future

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