At my recent business school reunion (I know, it’s hard to believe it’s been five years already!), I was asked to represent crypto on a panel covering “Investing and Financial Planning for the Next 20 Years.” On the panel with me was a super nice, very smart classmate who works for a very large institution where he manages hundreds of billions of dollars across all types of investments. Perhaps not surprisingly, he was broadly dismissive of crypto as an asset class, but his biggest expressed criticism was that crypto was not a “productive” asset: crypto doesn’t “do” anything, doesn’t have cash flows, etc. etc. The panel ended up talking a lot about estate planning and things like that so it never came back around to me, but my biggest regret from reunion weekend (excluding some dance moves on the party bus to the Goose) was that I didn’t get a chance to address this criticism.
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The Memes of Production
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At my recent business school reunion (I know, it’s hard to believe it’s been five years already!), I was asked to represent crypto on a panel covering “Investing and Financial Planning for the Next 20 Years.” On the panel with me was a super nice, very smart classmate who works for a very large institution where he manages hundreds of billions of dollars across all types of investments. Perhaps not surprisingly, he was broadly dismissive of crypto as an asset class, but his biggest expressed criticism was that crypto was not a “productive” asset: crypto doesn’t “do” anything, doesn’t have cash flows, etc. etc. The panel ended up talking a lot about estate planning and things like that so it never came back around to me, but my biggest regret from reunion weekend (excluding some dance moves on the party bus to the Goose) was that I didn’t get a chance to address this criticism.