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      "text": "Finding venture-scale returns on the web going forward is going to be difficult. The sheer scale in distribution of the incumbents is simply too expensive to overcome without a radical shift in market structure and business models...",
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      "kind": "paragraph",
      "text": "Cryptonetworks are decentralized information networks coordinated via a scarce, programmable digital token (or cryptoasset) whose supply is programmed and enforced by a blockchain or similar consensus network...",
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      "text": "Following the history of information technology and the massive trend towards open source, we can see that democratizing information is the natural next step in the incessant trend to open source, and thus the next big opportunity...",
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