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1/ Some Simple Economics of AGI—🔥🧵
Right now, there is a low-grade panic running through the economy. Everyone is asking the same anxious question: what exactly is AI going to automate, and what will be left for us?
Christian Catalini
7,765 posts
Christian Catalini
@ccatalini
Founder w/roots in academia. Founder @MIT Cryptoeconomics Lab. Past: Co-Founder & Chief Strategy Officer, Lightspark. Co-Creator, Libra. Head Economist, Meta.
- 1/ When @GaryGensler joined @MIT as a senior advisor to @Joi, he stopped a few times by my office. Since I was possibly the only professor at MIT deeply interested in crypto back then, I thought he had a genuine interest in learning about the tech & how it could improve finance.
- 1/ Why everyone is wrong about stablecoins @stripe’s recent acquisition of stablecoin orchestration startup Bridge sent shockwaves through the crypto world. For the first time, a major payments company committed over a billion dollars to accelerate its use of this technology.
- Replying to @ccatalini3/ We need regulators and policymakers that care about the United States leading in innovation, not protecting incumbents.
- 1/ Excited to unveil lightspark.com to the world! Over the past year, we've been working hard to enhance Lightning — making it simpler to use, smarter, and highly scalable.
- Stablecoins, a novel form of interoperable and programmable money, have the potential to rewire the global financial system. In doing so, they could allow software to eat banking and financial services — sectors left relatively untouched by the internet. @HarvardBiz w/@wu_jane
- Replying to @ccatalini28/ If corporate chains like Tempo and Arc succeed, it will mean the crypto experiment was not a revolution, but a failed coup. The backend technology would be different, yes, but the market structure would be eerily familiar.
- Replying to @ccatalini20/ It's the same fundamental economic truth we identified at MIT almost a decade ago: the only thing that truly separates crypto from the systems it aims to replace is that it's permissionless. Full stop.
- 1/ I’m thrilled that @nubank has selected @lightspark to bring the Bitcoin Lightning Network ⚡️ and Universal Money Addresses via the @umastandard 🌐 to its platform and customers.
- 1/ Coinbase has consistently been at the forefront of crypto innovation, playing a crucial role in driving us towards mainstream adoption. It has been a pleasure collaborating with Coinbase’s engineering, product, and business teams to bring Lightning ⚡️ to @coinbase in the near
- 1/ Yesterday, @worldnetwork's @alexblania unveiled his latest plans to a room full of crypto insiders. The U.S. debut is noteworthy, but the real plot twist is Worldcoin’s sprint toward the mainstream and what that signals for crypto’s own leap to everyday commerce.
- Replying to @ccatalini3/ There's a cliché in tech and finance that being too early is indistinguishable from being wrong. Looking back on Libra, the stablecoin project I helped design inside Meta, I can confirm we weren't just early; we were also comically, spectacularly wrong.
- Replying to @ccatalini2/ I was surprised back then — and I am still surprised to this day — by how firm his conviction was about what constitutes a security versus not at a time where he did not know much about crypto or blockchain at all.
