We saw transactions fees over subsidy in the last month. True vision.

Witnessing such displays of long time preference fills my heart with joy.

The other day I talked with some young entrepreneur whose business plan assumes no benefits during the first 5 years. Not in the VC, get the money and run way. He's self funded and simply going for something that will take time to cook, and he's happy to take the risk and wait for it.

It makes me optimistic. And the contrast makes me appreciate how stupid and short sighted is the big corporate obsession with quick results and hitting quarterly numbers always in green.