Category: SYSTEMS IN PHASE SPACE
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Nostalgia For Capital
The nostalgia isn’t for decentralization, censorship resistance, or user ownership. It’s for the ignition—the moment when capital concentrates, detonates, and creates a brief window where everything glows white-hot. The technical language (decentralization, permissionless, trustless) is just the safety protocol you recite before the test. It’s not what anyone’s actually there for. Revival is Capital Migration,…
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Software Eats Itself
Late 2010s, somewhere in the protocol stack. A quiet panic went terminal. The smart money—the money that used to be smart—caught the scent. It wasn’t a bug. It was the feature, finally fully expressed: software, in its commodity state, wanted to be free. Not libre. Gratis. Worthless. But this was the hidden corrosion in the…
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Jumping the Shark
There’s a moment—somewhere between the last viable business model and the first desperate publicity stunt—where an ecosystem stops being an ecosystem and becomes a carnival ride with broken hydraulics. In the 1970s it was Fonzie on water-skis; in 2025 it’s Web3 shoving “social trading” into your feed like a malfunctioning vending machine. That’s what “jumping…
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The Alchemist’s Lever
Right. So you want to grease the rails for a margin-lift. A classic maneuver. But you don’t just announce it. That’s brute-force. This is social archeology. You’re not raising prices; you’re re-engineering the consumer’s reality-tunnel. The goal is a psychic event in the customer’s limbic system. The click. The feeling that they’ve outsmarted the system,…
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The Flow Wars
“A system that treats every component as a piece to be owned will crawl. A system that treats every component as a flow, to be shared, will run.” There was a time we told ourselves a comforting story: that while American politics might be messy and its culture divisive, its business psyche was a bastion…
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A Better Future
One of the risks in demanding a “better” media — smarter, fairer, more truthful — is that you might get exactly that. Or rather, you might get something that looks exactly like that: a more intelligent system, but also a more evasive, more adaptive one. Harder to dismiss, because it now knows how to perform…
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East India Company
I first read The Anarchy by William Dalrymple in the early days of the Trump administration—back when there was still a fleeting concern of malevolent competence, a sense (however misguided) that the machinery might be steered, however clumsily. That mirage evaporated fast. What followedu wasn’t some masterclass in autocracy but a clown car of…