Insider's Perspectives & Why Taiwain Matters

A short email this week and probably next week while I'm traveling to and from India.

#1 How FTX Collapsed

This was a very good breakdown (about 30 minutes long) of the FTX saga from the perspective of an industry insider. 

"In this episode, Blockcrunch Host Jason Choi recounts the entire FTX saga all the way from FTX's 2019 beginnings to the aftermath of the implosion."

#2 What Could Happen To The US If China Invades Taiwan?

A thread which raises some very important food for thought:

The importance of Taiwan to our digital way of life is something that many Westerners don't seem to understand. Most people know that semiconductors are key components in many of the goods we've come to rely upon in our daily lives. (Like smartphones and cars) But many people fail to understand the role Taiwan plays in the semiconductor supply chain. And as a result, we don't focus on the challenges of quickly replacing that link in the chain should China invade.

We can't simply start our own chip plants and create key technologies in an instant. It takes time to build the precision machinery, construct the manufacturing plants, and establish supply chains. But more importantly, there are only so many skilled workers with the knowledge needed to operate these high-tech plants.

If China were to invade Taiwan and cut the West off from their semiconductor manufacturing, it would likely have long term catastrophic results for the entire world.

Rapid Fire

• GOP megadonor Stephen Schwarzman defects from Trump after 2024 announcement (axios.com) - The ramifications of the US Midterms are fascinating. MAGA Republicans did not perform well despite having a ton of momentum leading up to the elections. It's possibly a sign of tides turning against Trump's style of governance. This is also playing out among donors that are now defecting from Trump's 2024 campaign.

• Losing your keys without losing your coins (wallet.build) - A very interesting article shared by a reader on how one company is trying to improve the UX/UI of crypto self-custody.

• Relocating for work and opening up borders in the post-pandemic world (substack.com) - A written interview with "Germany-based Localyze’s CEO, Hanna, who is helping companies relocate employees" It includes some interesting perspectives on remote work, border policies, and where the world might be heading.

• The Psychopharmacology Of The FTX Crash (substack.com) - A side story from the FTX drama: the drugs SBF and his team were taking to "improve" performance.

• Self-Sovereign Identity: A Framework for The Network State (sovereigncities.org) - "This essay describes the current landscape of digital identity, solutions being explored by Startup Societies and a potential framework for The Network State."

• A thread on alternative schools to watch - If you're focused on alternative ways to educate your children and prepare them for the digital age - this Twitter account and it's substack blog are worth checking out.

• 042020648197.pdf (pacer-documents.s3.amazonaws.com) - This is the first formal filing from the FTX bankruptcy proceedings. It's an incredible read and gives a lot of clarity into what exactly was going on behind the scenes.

• Berkshire Hathaway Bought $9 Billion in Stock in Third Quarter - WSJ - It's always an interesting signal when Warren Buffet takes decisive action during a market downturn.

• Apple Pay is now available on Circle - The integration of Apple Pay with a credible Stablecoin provider is an underreported crypto story this week. It creates a valuable on/off ramp between physical and digital worlds.

Extras

Would you drink this?