I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.
Naval RavikantRead
There's so much innovation going on, and there are lots of people funding that innovation, but there's very little innovation on that infrastructure for innovation itself, so we like to do that ourselves to help companies create more tech companies.
Interpretation
What this quote means
Innovation often focuses on products, but infrastructure needs innovation too.
Naval Ravikant emphasizes the importance of innovating the foundational systems that support technological advancements. While many are investing in new products and ideas, he highlights a significant gap in improving the infrastructure that facilitates innovation itself. By addressing this gap, we can help nurture the growth of more technology companies and further advance the field as a whole.
Themes
InnovationInfrastructureTechnologyFundingCompanies
In practice
Example use cases
In a technology conference discussing startup strategies.
More from Naval Ravikant
All quotes →Having a million-dollar net worth doesn't make you a genius, and having less than a million-dollar net worth doesn't make you a fool.
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Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.
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Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.
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If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.
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Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.
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