Building a new open ecosystem paradigm requires three things.

· Bits and Bobs 4/8/24

1) Product - The thing that consumers actually use, and that creates new kinds of value for them that are not possible in other paradigms.

2) Infrastructure - The behind-the-scenes infrastructure that makes the new system actually work in practice without the user having to think about it much, which typically implies a viable model of which entities pay which costs.

3) Protocol - The decentralized protocol that defines the laws of physics of the system, for example, allowing safe zero-friction composition.

Although the most visible part will be the product, you have to have good-enough versions of each for the frankenstein ecosystem to take its first breath.

If you're missing any one of the three, what emerges is non-viable or uninteresting.

If you skip product, you get a thing that only hyper enthusiasts will be motivated to use: a low ceiling.

If you skip infrastructure, there's no viable business models for entrants into the system.

If you skip protocol, then you get something like a traditional aggregator.

You can't build this frankenstein with just a couple of body parts.

You need good-enough versions of all of them to start.

Ideally parts that could then become radically better in a self-ratcheting way with more usage.

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