Businessweek devotes entire issue to Matt Levine’s “Crypto Story”
Bloomberg Businessweek devotes its latest issue, out Tuesday, to a 40,000-word essay about crypto by finance writer Matt Levine.
Why it matters: If you’re still confused about crypto, Levine, who writes the beloved Money Stuff newsletter, offers a clear-eyed explanation.
If you like Levine for his entertaining explanations of the minutiae of finance, then you’ll love his explanation of a DAO.
• It stands for “decentralized autonomous organization,” he tells you. There’s such a thing as ” The Cover Curse,” essentially the idea that by the time a person or company or trend makes it to the cover of a mainstream magazine or video game, it’s peaked or on the way out.
• Levine acknowledges that he’s writing post-crypto-boom — and says that makes it a good time to talk about it.
Bloomberg Businessweek devotes its latest issue, out Tuesday, to a 40,000-word essay about crypto by finance writer Matt Levine .
Why it matters: If you’re still confused about crypto , Levine , who writes the beloved Money Stuff newsletter, offers a clear-eyed explanation. You might come away truly understanding what a crypto miner does. But that’s not the only reason to read this opus.As Levine explains, understanding crypto is also a way to take a fresh look at the financial system, writ large.
• “In the past 14 years, crypto has built a whole financial system from scratch,” he writes.
• “Crypto constantly reinvented or rediscovered things that finance has been doing for centuries. Sometimes it found new and better ways to do things . Often it found worse ways .”If you like Levine for his entertaining explanations of the minutiae of finance , then you’ll love his explanation of a DAO.
• It stands for “ decentralized autonomous organization ,” he tells you.
• Don’t worry: He then breaks down the disconnect.
Bonus: He also riffs on what it would mean to have an NFT of your soul.
Zoom out: There’s such a thing as ” The Cover Curse,” essentially the idea that by the time a person or company or trend makes it to the cover of a mainstream magazine or video game , it’s peaked or on the way out.
• Levine acknowledges that he’s writing post- crypto -boom — and says that makes it a good time to talk about it. The frenzy has died down, and “we can think about what it means divorced from the lines going up.”
