A note from Daniel

I think it's interesting to make a table of every fee in finance and ask which of them are actually going to be around in twenty years. How much of the profit will get pushed out of finance? I can imagine we will treat finance almost like a communications network. Then we will have more profit for people who are actually building businesses and doing things of value. It is possible fortunes in the future are made only by funding or building startups. It will take decades to play out, but the economic logic of crypto-versus-financial-services is similar to internet-versus-telecom.

Daniel The Anthology Of Balaji, page 71 · February 12, 2024 Save to shelf
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