Paul Graham’s Legacy

Last week there was a press release you might easily have missed. A Distributed Autonomous Organization (DAO) called OrangeDAO is cooperating with a small seed venture fund called Press Start Capital to establish the OrangeDAO X Press Start Cap Fellowship Program for new Web3 entrepreneurs. Successful applicants get $25,000 each plus 10 weeks of structured mentorship plus continued access to the more than 1200-member OrangeDAO network. In exchange, OrangeDAO and Press Start get to invest in the resulting companies, if any, produced by the class. 

Big deal, it’s Y Combinator Junior, right?

Wrong. It’s Y Combinator on steroids.  

This second-generation YC has […]

2021 Prediction #3: Get ready for more GameStops as hedge funds are no longer the only bullies in town

Sorry I got my puts and calls mixed-up in the e-mail version of this column. It should now be fixed. My 16 year-old copy editor says he won’t make that mistake again. — Bob

Today is my birthday. Thirty-five years ago today I was drinking coffee in my Palo Alto kitchen when the Space Shuttle Challenger exploded on TV. Thirty years ago today my father fell over, instantly dead of a heart attack while walking between gates in the American Airlines terminal at DFW. I was expecting a call, just not that one. Life is full of surprises and some of them aren’t good, as hedge funds are learning this week while their […]

The Incentive Game

My friend Bob Litan, who is a senior fellow at the Brookings Institution, is worried about COVID-19 herd immunity. Specifically, Bob worries that the only way our population can reach the 60-70 percent immunity rate required to protect us all from the novel coronavirus is if some people are paid to take the shot. And Bob may be correct: a Gallup poll last month concluded that 35 percent of Americans would refuse to be vaccinated.

Uh-oh.

Bob thinks the way around this problem is to pay people, giving them an economic incentive to do the right thing. This got me thinking about the whole concept of […]

Prediction #4 — Bitcoin stays crazy until traders learn it is not a currency

2017 was a wild ride for cryptocurrencies and for Bitcoin in particular, rising in price at one point above $19,000 only to drop back to a bit over half of that number now. But which number is correct? If only the market can tell for sure — and these numbers are coming straight from the market, remember — what the heck does it all mean? It means Bitcoin isn’t a currency at all but traders are pretending that it is. 2018 will see investors finally figure this out.

Confusion abounds, so let’s cut through the crap with an analogy. Cryptocurrencies like Bitcoin, Ethereum and a ton […]

Apple and Didi is about foreign cash and the future of motoring

DidiAppApple this week invested $1 billion in Xiaoju Kuaizhi Inc., known as Didi — by far the dominant car-hailing service in China with 300 million customers. While Apple has long admitted being interested in car technology and has deals to put Apple technology into many car lines, this particular investment seems to have been a surprise to most everyone. Analysts and pundits are seeing the investment as a way for Apple to get automotive metadata or even to please the Chinese government. I think it’s more than that. I think it is a potential answer to Apple’s huge problem of foreign cash and a grab for leadership in what may well be […]