The Exclusivity Paradox in Venture Capital

This chapter explores the challenges of exclusivity in the venture capital landscape, likening it to a 'cool kids' club that limits innovation and opportunities for founders. It delves into game theory concepts like Nash equilibrium and examines the dynamics of durable companies in the crypto space, particularly focusing on Facebook's unique market behavior. The discussion highlights the complexities surrounding cryptocurrencies, especially Bitcoin, and emphasizes the need to reevaluate assumptions about their economic value and resilience.

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