I think there is no race. The internet is actually running laps around legacy institutions, and has been for years.

It’s just not obvious to everyone because measurements are bad.

It’s not about who makes the fewest errors, but who is learning fastest.

It’s not about who is biggest, but who is growing fastest.

It’s not about who is the most powerful, but who is most flexible.

Bitcoin beats banks. Twitter beats universities. Youtube beats school. I think this will only get broad recognition after the fact, when people start sifting through the debree of collapsed fiat institutions.

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