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
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.
Interpretation
What this quote means
Startups face severe challenges due to regulations that big companies can manage more easily.
This quote highlights the disparity between established corporations and startups when it comes to regulatory compliance. While rules may seem manageable for large companies, they can be disproportionately burdensome for startups, which often lack the resources and experience to navigate these complexities. The potential consequences of noncompliance create a daunting environment for new ventures, emphasizing the need for more balanced regulations that consider the unique challenges faced by startups.
Themes
StartupsRegulationsWall StreetComplianceBusiness
In practice
Example use cases
This quote can be used in a startup event discussing challenges with regulations.
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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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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It's almost always possible to be honest and positive.
Naval RavikantRead
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