Fast and Slow Money - Swensen’s contrarian insight was that anyone could buy stocks and other immediately liquid assets, making the market for such assets more competitive and efficient. Liquidity also introduces emotional temptations to trade when doing nothing would be best. “Slow Money” takes advantage of market inefficiency by buying and holding assets that are underpriced and less in demand now, but will be extremely valuable in the very distant future.

“Slow Money” founders believe long-term greatness requires years and even decades of commitment to building a great team, culture, business model, ecosystem of partners, and an increasing competitive moat. That’s why you will observe that the Slow Money founders pay extra attention to recruiting, proper vesting, working with long-term investors, careful management of the amount of money raised, as well as the valuation through time. They want to create a product or service that is used by hundreds of millions or billions of people, and that takes many years. They optimize for long-term success. However, Slow Money does not mean slow movement. Founders building startups of any type need to move with utmost urgency: The key is to execute with high speed in the service of long-term greatness.

Tokens : Community :: Equity : Companies - The Crypto Commons -

Crypto creates a scalable governance model for the Commons

Keep in mind that what makes the commons fail is a lack of scalable governance because there is no centralized control by a corporation or a government. Instead, you are limited to informal relationships among people who know each other.

One of the biggest value propositions of crypto is scalable governance without informal localized trust.

This could be a big idea just like a scalable stock market was a huge breakthrough 150 years ago.

Blockchains create “Governance Markets”

Special Purpose Acquisition Companies - SPACs aka blank check companies.

SPAC talk with Chamath Palihapitiya, David Friedberg, David Sacks & Jason Calacanis | from Episode 7 - https://www.youtube.com/watch?v=ichI8T-QuCE

Who gets the financial benefit of this massive investment—utilities, solar installers, or consumers—depends on interest rates.“The miracle technology is much more likely to be finance than it is to be fusion,” Saul said in a recent presentation. Arguably, it was the invention of the auto loan by Alfred P. Sloan of General Motors and the later financial innovation by the Roosevelt administration of the Federal Housing Authority and the home mortgage that created the US middle class, he noted. “Mortgages are time machines that let you have the future you want today.” We need something similar for the electrification transformation. Otherwise, “only rich people can afford to decarbonize today.”

Utilities already have access to low-cost loans. But consumers don’t, and if you want to create both jobs and cost savings for consumers, low-cost interest rates for home electrification are the best way to do it. Otherwise, the savings all get captured by middlemen, or by utilities, and adoption is much slower.

This observation is entirely in line with my broader point that regulations and the tax code play much the same role in shaping who gets what and why in markets as do the controlling algorithms in online platforms.

https://www.oreilly.com/radar/the-end-of-silicon-valley-as-we-know-it/