Wealth• Week of 12/7/20 • December 11, 2020
Top Takeaways of the Week 12/7/20
by Julian Lehr, Jason Bailey, Stewart Butterfield, and Marc Andreessen
- On signaling-as-a-service: “Everything has a hidden signaling component with which we communicate our desired tribal affiliation.” — Julian Lehr
- A Rolex isn’t any better at telling time than a cheaper watch. However, a Rolex signals status and wealth.
- “CryptoArt are rare digital artworks, sometimes described as digital trading cards or “rares”, associated with unique and provably rare tokens that exist on the blockchain. The concept is based on the idea of digital scarcity, which allows you to buy, sell, and trade digital goods as if they were physical goods. This system works due to the fact that, like Bitcoins and other cryptocurrencies, CryptoArt exists in limited quantities.” — Jason Bailey
- “There are many brands whose marketing activities or positioning has them selling something other than (and usually larger than) their product.” — Stewart Butterfield
- “Ironically, once a startup is successful, and you ask the founders what made it successful, they will usually cite all kinds of things that had nothing to do with it. People are terrible at understanding causation. But in almost every case, the cause was actually product/market fit.” — Marc Andreessen
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