The 1900s were a time of violence, chaos, and a search for meaning. The Industrial Revolution created many new conveniences, and extended lifespans, but brought with it a focus on individual economic productivity that was isolating. Many people felt lack. Communism was one proposed solution to this that gained popularity — with Lenin, Mao, Chavez and others promising their countrymen a return to pre-industrial, early agrarian times. Where men were equal and social relationships were paramount.

I was talking to a VC friend today who is bullish on AIs using crypto and sees the future economy running on stablecoins. “Denominated in dollars?” I asked. “Of course” she said, “the most interesting AI stuff is happening in America.”

Ethereum has faced an avalanche of FUD on crypto Twitter over the past weeks. As BTC hovers near ATHs, ETH is about half what it was at the peak of last cycle. This is despite approval for an ETF and other regulatory tailwinds that should be fueling growth. Common bear arguments include value capture being cannibalized by L2s and slow execution of Ethereum improvement proposals.

AI isn’t just another “bubble”; this is the most important human invention since the printing press. And while chatbots are cool, it’s clear that the future rests on AIs that can make decisions & perform actions for us (aka “agents”).

In philosophy, "knowledge" is famously defined as "justified, true belief" (the JTB theory). It includes three properties:

Some say most of the growth that we’ve seen in crypto has already happened. Crypto projects are being used by the same users as last cycle, most just scheming for an airdrop or to make money trading. Public interest around crypto as a utility has waned, and even reversed over the last few years. Peter Thiel has this view, and has sold most of his crypto assets.