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Brendan Keeler's avatar

Networks cannot be built by agents, so strong agree at the high level.

Similar network binary thesis to Travis (you either have network effects and survive or you don't and die): https://travismay.medium.com/moats-matter-again-a6359b0d31da

Brendan Keeler's avatar

Systems of record have agency, too. They will tax and block: https://healthapiguy.substack.com/p/saps-wall-and-the-toll

Brendan Keeler's avatar

I agree in general but had some ideas on a little more nuance and risk categorization: https://healthapiguy.substack.com/p/abundance-and-agents?utm_source=publication-search