Innovation and the New Entroponers

Innovation requires a couple of things. The university and all of academia has a very big stick in terms of being able to train their own next generation of teachers. And you also need something new to explore, either intellectual frontier or physical frontier. There's a pendulum between centralization and decentralization. For example, if you look in the crypto world, centralized finance ends up very ossified. You have the government and the regulators telling yu exactly what you can and can't do.