Pete Cooling

@petecooling

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253 Followers

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a startup is nothing more than the collective minds of the individuals who compose it

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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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OG defi protocols as fees come down, especially the more lindy with no major exploits defi has been sleepy since defi summer, so those with no major changes to contracts that quietly established lindy and built trust in a trustless environment - these are most interesting

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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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exp by doing is a great way Also: 1) think for yourself (to not be unconsciously persuaded), 2) focus/train attention to connect with the instinctive (sixth) sense, and 3) reason from first principles by “peeling the onion” to establish solid foundations around complex concepts on which to gain conviction

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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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true, net settlement has a place - although mostly because of the high cost and slow settlement times associated with money movement

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yes! fiat payouts can be authorized instantly so the employee has access to funds in minutes but funds still take days to settle on the backend between banks and cannot move on weekends/bank holidays. The operational cost is still too high offchain to payout in real-time or even once per day

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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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politicians should not have the right to privacy when it comes to how they spend taxpayer money. This information should be presented fully onchain with direct audit capabilities for citizens and taxpayers.

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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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lack of infra, unbanked, and don't have access to digital identity to onboard to financial services

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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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you've hit on one of the underlying problems with 4337 which is the centralization vector of the alt mempool and bundlers which adds extra intermediaries (and risks, costs and complexity) checkout native aa...it's much simpler at the native protocol level

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