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Joined 2 years ago
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Cake day: July 14th, 2023

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  • The original source was much more sensible.

    The comparison makes sense for evaluating whether you’re over-invested in something. Like, if Nvidia suddenly poofed out of existence, would it seriously be worth 16% of everything the whole country makes in a year to get it back?

    Owning a car that’s worth 16% of your yearly income sounds reasonable, no matter what your actual income is. A Pokemon card collection that’s 16% of your income is probably too risky, no matter what your actual income is.

    Also, GDP is a decent scale to use for charting investment in a productivity tool, because if GDP ramped up at the same time as investment then it looks less like a bubble, even if they both ramp up quickly.

    But that’s not what we see. We see a sudden and volatile shift, nothing like the normal pattern before the hype.





  • It’s the problem, but also the strength. That fragmentation allows room to experiment.

    It also puts pressure on the underlying protocols/specs to be air-tight. If you have just one implementation to support, you can do whatever. If you have to support 15, all with different goals and constraints, you gotta be pretty damn careful.

    So in the end, we get foundational systems that are able to evolve over time instead of needing a breaking-change, ground-up rewrite every 2 years.