i love this quote ' can program our own contracts without any need for lawyers.' because contracts are very much like programs... but I still Don't think this article is correct. VC's bring so much more than just capitalization. Most people can't even decide which mutual fund to invest their 401k in much less which early start up to invest in.
i love this quote ' can program our own contracts without any need for lawyers.' because contracts are very much like programs... but I still Don't think this article is correct. VC's bring so much more than just capitalization. Most people can't even decide which mutual fund to invest their 401k in much less which early start up to invest in.
It's either extremely subtle satire that I cannot detect, or this guy does not understand how the world actually works.
So, you code your contract. When there's a need to enforce something in the real world (which will happen, eventually - virtual only goes so far), you eventually need contracts underwritten by guys with guns (police and eventually army), or whoever feels wronged or doesn't want to pay their share, won't.
And when you need the underwriter to step in - you realize that you interface to them through the court system, exclusively using legalese and lawyer interfaces.
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[ 3.4 ms ] story [ 15.3 ms ] threadSo, you code your contract. When there's a need to enforce something in the real world (which will happen, eventually - virtual only goes so far), you eventually need contracts underwritten by guys with guns (police and eventually army), or whoever feels wronged or doesn't want to pay their share, won't.
And when you need the underwriter to step in - you realize that you interface to them through the court system, exclusively using legalese and lawyer interfaces.