reading a paper on how Genoa invented maritime insurance and it kind of sounds like trading meme coins - people invested in them as collective, big bag holders came first, insider knowledge on the risk involved was necessary, there were no institutions investing - everything except for the part where they were investing in something that insured an actual expedition that went out and took actual risks

witness gonzo | writing at summerlightning.substack.com
| sachinbenny.xyz 

Also the Venetian method to elect the doge is some proto-DAO madness