When a disruptive innovations is first introduced we tend to get wildly excited about it potential applications. Our expectations get ahead of reality and we become underwhelmed by technological progress. But eventually this dynamic flips. Enabling technologies begin to advance at an exponential rat

Today I'm thrilled to announce that I've finished my new book- Bitcoin: Essential Concepts . It will be released on October 4th.

Unit bias is faulty reasoning that assumes a single unit must be the appropriate amount from which to make assessments and comparisons. 

A Lesson in Strategic Growth: Coachella There are few industries as challenging and competitive as the music festival industry. Spend an entire year planning, booking, and advertising for a single weekend to ultimately determine your financial fate. Even in the cut-throat restaurant industry, a new

When a system reacts to its environment and the resultant output gets re-incorporated as an input, a feedback loop is

Ricardian Equivalence When governments fund their visions by issuing bonds (as opposed to using collected taxes), there is an expectation that this debt will be repaid via higher taxes at some point in the future. Rational taxpayers will therefore reduce their own consumption to increase their savin

Creative destruction is the process of entrepreneurs out-innovating incumbents, rendering them obsolete, under a free market. 

When designing systems, every decision must optimize for survival. A key part of this is prioritizing simplicity over complexity. Anything

"The observation that improved energy efficiency can increase the overall consumption of energy by making an activity cheaper and thus more scalable or accessible." —John Spacey

It is ironic that some of the most helpful frameworks and concepts for thinking about bitcoin stem from one of its most ardent critics. A quote from Nassim Taleb's 2012 book (Antifragile: Things That Gain From Disorder): “A mechanism by which the system regenerates itself continuously by using, rath