This makes for an amusing and sobering read.
“No external dollar of profit has entered this system. Nobody outside the circle has paid for anything useful. But every valuation in the loop just went up, because each company can now point to the others and say look, demand is exploding [...] It is a group of friends standing in a circle, each handing the next one a ten dollar bill, like the three stooges, all of them now feeling considerably richer.”
/via @densediscovery@mastodon.social
https://webaligo.bearblog.dev/tokenomics-are-coming
