Musings on Technology
A personal collection of notes, reflections, and essays on technology, finance, and building — written over the years as I made sense of the ideas shaping our industry.
China Bans ICOs: What It Means for Global Crypto Markets
China's decision to ban Initial Coin Offerings is the most significant regulatory action in crypto's short history. The immediate market impact is severe, but the long-term implications are more nuanced — and potentially positive.
Crypto Exchanges: The New Investment Banks?
Binance launched in July and is already processing billions in daily volume. Crypto exchanges are becoming the power brokers of a new financial system — listing tokens, providing liquidity, and extracting fees that would make Wall Street blush.
The SEC, the Howey Test, and the Future of Token Sales
The SEC's DAO Report has sent shockwaves through the crypto industry. By applying the 1946 Howey Test to digital tokens, the regulator has drawn a line that will reshape how projects raise capital — and that is probably a good thing.
Bitcoin's Scaling Debate: What's Really at Stake
The battle over SegWit, block sizes, and Bitcoin's future is about more than technical parameters. It is a test of whether decentralised governance can make hard decisions — and the outcome will shape the trajectory of the entire industry.
What the 2008 Crisis Taught Me About Financial Infrastructure
I was at Lehman Brothers when it collapsed. The experience shaped my understanding of why financial infrastructure matters — and why the response to the crisis addressed symptoms rather than root causes.
Programmable Money: Why It Matters More Than Digital Money
PayPal, Venmo, and mobile banking have made money digital. But digital is not the same as programmable. The distinction between moving money electronically and encoding financial logic into money itself will reshape how the world transacts.
The ICO Boom: Innovation or Speculation?
Initial Coin Offerings have raised billions in 2017 alone. Some see a revolution in fundraising; others see a bubble waiting to burst. The truth, as usual, lies somewhere in between — and the implications for financial markets are profound.
What Investment Bankers Get Wrong About Crypto
The dismissal of cryptocurrency by traditional finance professionals reveals more about the limitations of their mental models than about the technology itself. Having spent years on both sides, I see where the disconnect lies.
Why I Started Paying Attention to Blockchain
After years in investment banking, I found myself drawn to a technology that promised to rebuild the very infrastructure I had spent my career navigating. Here is why blockchain caught my attention — and why I think it deserves yours.