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If we can democratize access to a veblen good, status becomes about being a part of something, rather than how much money you have. We already see this in products like Fractional and PartyBid, which enable collective ownership of highly sought-after NFTs, as well as in products like RabbitHole, which allow users to earn crypto by using the latest
... See moremirror.xyz • Social Token Paradox
People worry about culture because they know it sets the agenda for the future.
And who wouldn’t want to be in charge of that?
Wall Street and the City held the crown through economic dominance, regulatory capture, and cultural philanthropy. They faltered in 2008 and never regained their pre-crisis legitimacy. The presumptive heir to the throne, th
... See moreIn the future, the Other Internet also believes we won’t necessarily interact with money as individuals but as collective “wealth squads.” They talk about how fractionalization can create opportunities and group resilience that would previously have been impossible to achieve alone.
Victoria Buchanan • Vol.17: Victoria Buchanan: Surrealism, World Saving Luxury + Fractional Work
The gamble paid off. Despite Stanford’s success in persuading two institutions to withdraw their oral commitments to Benchmark’s fund, other investors stepped forward and the partners secured the $85 million in institutional capital that they had announced they would raise. At Bob Kagle’s urging, the partners started business by giving their secret
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