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People forget how much of something’s VALUE comes from its STORY:
• Lab grown vs. natural diamonds
• AI-designed vs. human art
• Lab-cultured vs. pasture raised
• spring vs distilled water
Given two practically indistinguishable things we pay for the story.
People forget how much of something’s VALUE comes from its STORY:
• Lab grown vs. natural diamonds
• AI-designed vs. human art
• Lab-cultured vs. pasture raised
• spring vs distilled water
Given two practically indistinguishable things we pay for the story.
Example: Digital art isn’t worthless.
Value is about perceived utility.
The utility of digital art is a combination of:
a. Social signaling (display wealth and sophistication)
b. Ego validation (be part of history, exclusivity)
c. Aesthetic satisfaction
Value is about perceived utility.
The utility of digital art is a combination of:
a. Social signaling (display wealth and sophistication)
b. Ego validation (be part of history, exclusivity)
c. Aesthetic satisfaction
But externalities matter.
Sometimes two things that perform the same have origins with different downstream effects.
Science is valuable because it prizes objective truth, and can address the complexity that stories often miss.
Sometimes two things that perform the same have origins with different downstream effects.
Science is valuable because it prizes objective truth, and can address the complexity that stories often miss.
Storytelling is a superpower.
As @wolfejosh notes, a good narrative lowers the cost of capital.
It gets people to leave safe jobs for risky startups.
It gets them to adopt new tech before it’s mainstream.
As @wolfejosh notes, a good narrative lowers the cost of capital.
It gets people to leave safe jobs for risky startups.
It gets them to adopt new tech before it’s mainstream.
Stories allow people to rationalize ANYTHING (for good or bad).
Great narratives are a hallmark of visionary innovators (but also of dangerous frauds).
Your identity forms around the stories you tell yourself about the world.
It pays to examine them occasionally.
Great narratives are a hallmark of visionary innovators (but also of dangerous frauds).
Your identity forms around the stories you tell yourself about the world.
It pays to examine them occasionally.
