![]() ![]() What makes the original worth $450.3 million, a replica a few thousand, and a high-quality online version free? We give value to objects based, to a large extent, on their rarity.Īesthetically, what is the difference between looking at a replica of Da Vinci's gorgeously slinky Salvator Mundi and the real thing? Most viewers could not choose between them. Historically, creative works have been priced according to scarcity. The founder points to the product, the venture capitalist gestures at a sloping graph, the banker underlines figures on a balance sheet. To understand why I'm doing this, keep reading. By holding, you’ll receive a portion of future sales. As a holder of $GENERALIST, you can choose to redeem your share of the sale price, or hold. If the reserve price is hit, an auction kicks off, automatically selling the NFT to the highest bidder before the clock runs out. Then, we mint them as NFTs, listing them on Zora using a reserve auction. What happens after I back this crowdfund?įirst, we create our Coinbase S-1 briefing and artwork. A place in the underlying data of the NFT - embedded in code as original supporters.Ībove all, you’ll be entering into the process of creating with us.Proportional stakes in two additional pieces of art by Jack, inspired by Coinbase.Proportional stakes in our Coinbase S-1 Club briefing and Jack’s cover art.What do $GENERALIST holders get?īy backing the crowdfund, supporters receive three primary benefits. Metamask is a good alternative.Ĭontributors will receive a stake in $GENERALIST, our token. If you don’t have an Ethereum wallet, I recommend downloading Rainbow’s mobile app (iOS only). Allocations are made on a first come, first serve basis. That ensures a reasonable number of people are able to participate. We are raising 20 ETH, with contributions capped at 0.25 ETH. If you’re interested in joining, I would recommend setting a timer. As a reader, you’re hearing about the timing first. The $GENERALIST crowdfund launches at 9 pm ET tonight (3/14) on The Generalist’s Mirror page. I think it's an exciting experiment both in this particular case and because of what it portends. This means anyone with an Ethereum address can own a piece of our analysis and Jack's corresponding artwork. In collaboration with Jack Butcher of Visualize Value, we're turning our coverage of Coinbase into a non-fungible token (NFT). All you need is a computer-you don’t need anyone’s permission.The Generalist is trying something new. Every great software developer, for example, now has an army of robots working for him at nighttime while he or she sleeps, after they’ve written the code, and it’s cranking away. ![]() You don’t need anyone’s permission to do them, and that’s why they are very egalitarian. Coding, writing books, recording podcasts, tweeting, YouTubing-these kinds of things are permissionless. They don’t require somebody else’s permission for you to use them or succeed. Permissionless: This type of leverage is also permissionless. Now, you can multiply your efforts without involving other humans and without needing money from other humans. It accelerated with broadcast media, and now it’s really blown up with the internet and with coding. This was only invented in the last few hundred years. No marginal cost of replication: The most interesting and the most important form of leverage is the idea of products that have no marginal cost of replication. New School Leverage: No Marginal Cost of Replication and Permissionless PERMISSION – somebody has to give you money to invest or to turn into a product. It scales very, very well, and if you get good at managing capital, you can manage more and more capital much more easily than you can manage more and more people.ĬOST – you’re in debt, or you have to work hard to accrue that capital somehow. It’s more modern and is the one that people have used to get fabulously wealthy in the last century. It means every time you make a decision, you multiply it with money.Ĭapital is a trickier form of leverage to use. PERMISSION – For labor leverage, somebody has to decide to follow you. You’re one short hop from a mutiny or getting eaten or torn apart by the mob.ĬOST – extremely intensive and messy, high risk. It requires tremendous leadership skills. Managing other people is incredibly messy. It is the oldest form of leverage, and actually not a great one in the modern world. ![]() Labor leverage is: other humans working for you. Both are effective at maximizing output, but are constrained by cost and permission. Two examples of traditional leverage are labor leverage and capital leverage. Old School Leverage: Costly and Permission Required ![]()
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