1 ::: New kind of organisations are emerging from historic waves of cryptographic innovation. Let’s call them hydras.

2 ::: Hydras move with permissionless innovation and coordinate with code. Their code is transparent and open source. This property alone works as a multiplier of innovation.

3 ::: Hydras breathe the air of global permissionless capital allocation. This property alone functions as a multiplier of power.

4 ::: Due to the unprecedented unlocking of global capital and innovation, hydras are on track to eventually outgrow currently largest organisations in the world; digital enterprises and nation states.

5 ::: By breathing the pure air of innovation, hydras move in emergent and unpredictable ways. Software companies used to be the fastest moving organisations in the world. Hydras move faster.

6 ::: At the heart of any software company are abstractions called algorithms. These abstractions know no arbitrary borders of nation states. Still, ingredients required to build the best software companies in the world have a specific location on the planet; Silicon Valley.

7 ::: Hydras have no location. Their pseudonymous heads can emerge from anywhere in the world. Everything that a hydra founder needs is a laptop and internet access. And yet their capital pools and innovation pools are larger than pools of software companies or nation states.

8 ::: Hydras are redefining the nature of ownership. The riches of their value capture are shared with participants that are free to join or leave at any time. This ownership is in constant and rapid motion. Come in, build, own, leave. It requires no passport or contract.

9 ::: By virtue of having many heads on one body, hydras naturally understand the idea of “unity through multiplicity”. Although their heads can sometimes fight, their bodies are ultimately one. And each of these fights eventually results in the evolution of the body.

10 ::: Hydras are redefining the nature of competition. Instead of competing, they naturally gravitate towards composability, collaboration and integration. Nothing can stop a hydra from building what it wants to build. And like apes, hydras stronger together.

11 ::: These far reaching changes in human coordination are happening in front of our eyes, on our computer screens. The evolution is abstract and peaceful, its main ingredient are keyboard clicks. And we’re all invited to join, build, and own parts of hydras of the future.