AI & The Push & Pull of Deflation & The Right Denominator
For most of human history, the world barely changed within a single lifetime. Controlling fire took hundreds of thousands of years to spread across human…
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How Artificial Intelligence Is Restructuring the Firm
Corporate hierarchy has always been an information routing system. Every middle management layer ever built exists to relay context up and down a chain of…
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How Stablecoins Are Changing Fintech Infrastructure Today
The stablecoin market surpassed $300 billion in total capitalization in late 2025, representing a ~50% year-over-year increase. Annual settlement volume…
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Early Riders 2026 Whitepaper
Early Riders is the venture firm pioneering bitcoin as the hurdle rate. Early Riders is raising the first investment fund that uses Bitcoin as its unit of…
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Bitcoin Is The True Fintech
Over the past two decades, improvements in financial technology have sought to address persistent inefficiencies in the global financial system: limited…
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Investment Under a Bitcoin Standard
After 55 years of fiat money, and more than a century since the end of the Classical Gold Standard, it can be difficult to imagine a world in which money…
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From Hobbyists to the World: Bitcoin’s Breakout Phase
“Institutions cannot self-custody without severe regulatory issues. Most individuals would prefer not to self custody. Crypto will remain a sport for…
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Do More With Less
This report examines how our historical efficiency gains through collective knowledge and technology pairs with the highest leverage deflationary tools…
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Metcalfe’s Law, Moore’s Law, and Reflexivity In Bitcoin
Bitcoin infrastructure represents a unique convergence of three powerful economic forces that create exceptional investment opportunities. Metcalfe’s Law…
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Why Multi-Institution Custody Is Winner Take All
Bitcoin has grown into a ~$2T asset class, but over $600B in losses from hacks, frauds, and user error underscore one of the industry’s deepest flaws: poor…
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Reckoning with the New Cost of Capital
"$1.4B Fartcoin¹ is what you get when the “risk-free” asset underpinning the entire banking & currency system is a bond issued by an insolvent government…
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Bitcoin Will Change Capital Stacks
Fiat currencies have distorted incentives for both founders and venture investors alike. This report examines how Bitcoin offers a superior alternative to…
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Bitcoin Is The Hurdle Rate
The hurdle rate represents the minimum acceptable rate of return that a project or investment must achieve to be considered viable. Traditionally, when a…
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Every Company is a Bitcoin Miner
While bitcoin mining has been predominantly associated with specialized mining firms investing heavily in computational power and energy resources, a…
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