The Sovereign Individual "theory of the firm" is playing out, slowly but surely...
Being too early is just as deadly as being too late.
[Thomas Edison's concrete houses](https://en.m.wikipedia.org/wiki/Edison_Portland_Cement_Company), any startup with a novel product society isn't ready for yet, "the market can remain irrational longer than you can remain solvent", etc.
What if Bitcoin - in this accumulation stage - is the first viable backstop to that problem? If an early innovator holds enough bitcoin and the price appreciates just more than their overhead, they can stay "disastrously early" for however long it takes to flip over into "just in time!". And society reaps the rewards of an invention it may never have seen or seen much later.
Bitcoin appears to be providing this service _to itself_ as well. That's combinaton is a goddamn civilization hack right there....
If this is true, we're playing with an **innovation tractor beam that drags the future towards the present unlike anything else** we've ever seen.
GM
Discussion
this book is still on my list. I'm trying to be strict about the order, but I have been tempted to move it up
Well worth it; finished reading it for the first time last week. It's interesting to see how many of the predictions made in the book are playing out today. I alao generally think a lot of the things people say it "got wrong" are actually just starting to kick off.
I actually flipped through it randomly 20 minutes ago and happened to land on a page where he basically described #cashu 😮😮
where is that "firm" bit you referenced? I checked for it in the index