PIRQUE

Stats Q4 2021

Author: Pirque

Last edited: 17 Feb 2022

Date Published	Title	Type	Author	Quick Synopsis	Link
2021-09-21	Bitcoin and the U.S. Fiscal Reckoning	Article	Avik Roy	Cryptocurrencies like bitcoin have few fans in Washington. At a July congressional hearing, Senator Elizabeth Warren warned that cryptocurrency "puts the [financial] system at the whims of some shadowy, faceless group of super-coders." Treasury secretary Janet Yellen likewise asserted that the "reality" of cryptocurrencies is that they "have been used to launder the profits of online drug traffickers; they've been a tool to finance terrorism."	https://www.nationalaffairs.com/publications/detail/bitcoin-and-the-us-fiscal-reckoning
2021-11-19	Bitcoin Interest Rates	Article	Nik Bhatia	The numerical commodity has become a collateral powerhouse. Subjects on this article: -A suite of interest rates -Perpetual funding rates -Treasury repo: a pawn shop for bonds -Mortgages and rental income -A powerhouse collateral -The bitcoin yield curve	https://thebitcoinlayer.substack.com/p/bitcoin-interest-rates
2021-12-03	Crypto Theses for 2022	Report	Ryan Selkis	Crypto analytics firm Messari has released its Crypto Theses for 2022, a 150+ page report on key trends, people, companies, and projects to watch across the crypto landscape, with predictions for next year. Messari CEO Ryan Selkis shares insights into the past year in crypto amid mounting regulatory pressure in the space. Could bitcoin hit $100K by the end of the year?	https://messari.io/pdf/messari-report-crypto-theses-for-2022.pdf
2021-10-30	How to Win the Future	Report	Andreessen Horowitz, a16z	An agenda for the third generation of the Internet.	https://a16z.com/wp-content/uploads/2021/10/How-to-Win-the-Future-Deck.pdf
2021-12-01	Three Steps to the Future	Report	Benedict Evans	The most exciting themes in technology today are transformative visions for 2025 or 2030: crypto, web3, VR, metaverse… and then everything else. Meanwhile, hundreds of start-ups take ideas from the last decade and deploy them over and over in one industry after another. And trying to keep up, the old economy faces waves of disruption from ideas we first talked about in the 1990s.	https://www.ben-evans.com/presentations
2021-10-30	How to Win the Future (pdf)	Report	Andreessen Horowitz, a16z	Web 3—a group of technologies that encompasses blockchain, cryptographic protocols, digital assets, decentralized finance and social platforms, NFTs, and DAOs—is the third generation of the internet. These innovations have garnered an incredible amount of attention, both good and bad, over the past few years,and are still very early in their evolution. They will serve as the basis for new forms of economic and social interaction arising from platforms that allow people to collaborate, create, exchange, and take ownership of their digital identity and assets.	https://a16z.com/wp-content/uploads/2022/01/WEB3-Policy-Handbook-PxP.pdf.pdf
2021-10-30	A Legal Framework for Decentralized Autonomous Organizations	Literature/Paper	David Kerr,Miles Jennings	The purpose of this paper is to identify a number of taxation, entity formation and operational issues pertaining to Decentralized Autonomous Organizations (“DAOs”) and to suggest a domestic entity structure capable of addressing such issues, including filing and paying U.S. taxes, opening an entity bank account, signing legal agreements and limiting liability for DAO members. A threshold question for determining the most appropriate domestic entity structure for a DAO is to determine whether it has a for-profit or not-for-profit purpose. Not for-profit purpose is not equivalent to tax-exempt and although very few DAOs will qualify as tax-exempt organizations, many may meet the requirements of not-for profits for state law purposes. Accordingly, DAOs that meet the requirements should consider registration as unincorporated nonprofit associations (“UNA”) in states that recognize such an entity form.	https://a16z.com/wp-content/uploads/2021/10/DAO-Legal-Framework-Jennings-Kerr10.19.21-Final.pdf
2021-12-26	The Mirrortable	Article	Balaji Srinivasan	Mirrortables are to cap tables what stablecoins are to fiat currencies. They streamline and internationalize the logistical mess of angel investing.	https://balajis.com/mirrortable/
2022-01-10	2021 Review: SaaS IPOs	Report	Alex Clayton	2021 was another record year for SaaS companies entering the public markets. The following post looks at all the metrics and KPIs of the 2021 cohort of IPOs. The list of 27 companies was picked based on business model, funding, revenue growth rates and valuation. It doesn't include companies that have filed but have not yet traded.	https://www.meritechcapital.com/blog/2021-review-select-saas-ipos
2021-11-30	Decentralized Finance (DeFi)	Report	David Grider,Matt Maximo	Decentralized Finance (DeFi) is an emerging crypto innovation that goes beyond banking and beyond borders to create a new internet-native global financial ecosystem. DeFi has started to reshape global finance and e-commerce, yet the asset category remains mysterious to many investors. Our first Grayscale DeFi Primer offered an overview of DeFi, discussed use cases, and examined the native tokens of several well-known protocols. In this DeFi report, we will take a deeper dive into the financial system powering the Web 3.0 crypto cloud economy.	https://grayscale.com/wp-content/uploads/2021/11/Grayscale_DeFi_Report_Nov2021.pdf
2021-12-01	Supercharging the European tech ecosystem	Report	dealroom.co,sifted	The European startup ecosystem now represents $3t in enterprise value. And venture capital investment will pass the $100b bar this year; close to what the United States were a couple years ago. This report looks back at Europe's startup economy and it's impressive growth in the past few years.	https://europeanstartups.co/uploaded/2021/12/Slush-x-Sifted-x-Dealroom-1-Dec-Supercharging-the-European-tech-ecosystem..pdf
2021-11-10	Zero-Emission Vehicles Factbook	Report	BNEF	This special report has been produced by BloombergNEF at the request of the U.K. COP26 Presidency and in partnership with Bloomberg Philanthropies, to coincide with COP26, the 2021 United Nations Climate Change Conference. Since the last Conference of the Parties in late 2019, global momentum towards zero-emissions road transport has accelerated significantly.	https://assets.bbhub.io/professional/sites/24/BNEF-Zero-Emission-Vehicles-Factbook_FINAL.pdf
2021-10-30	FDI In Figures	Report	OECD	In the first half of 2021, global FDI flows more than doubled to USD 870 billion. Global investment flows overtook pre-pandemic levels and were 43% higher than in the first half of 2019. The United States, China and the United Kingdom saw the biggest increases, with a more than USD 20 billion rise in their FDI inflows, respectively. Rebounds from large negative inflows recorded by selected EU countries in H2 2020 further contributed to the overall surge.	https://www.oecd.org/investment/investment-policy/FDI-in-Figures-October-2021.pdf
2020-01-03	Staff Working Paper No.845: Eight centuries of global real interest rates, R-G, and the 'suprasecular' decline, 1311-2018	Literature/Paper	Paul Schmelzing	With recourse to archival, printed primary, and secondary sources, this paper reconstructs global real interest rates on an annual basis going back to the 14th century, covering 78% of advanced economy GDP over time. I show that across successive monetary and fiscal regimes, and a variety of asset classes, real interest rates have not been ‘stable’, and that since the major monetary upheavals of the late middle ages, a trend decline between 0.6–1.6 basis points per annum has prevailed. A gradual increase in real negative‑yielding rates in advanced economies over the same horizon is identified, despite important temporary reversals such as the 17th Century Crisis.	https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2020/eight-centuries-of-global-real-interest-rates-r-g-and-the-suprasecular-decline-1311-2018.pdf
2015-08-07	20 years on: Why Netscape's IPO was the "Big Bang" of the Internet era	Bio/Obituary/Profile/Interview	Brian Mccullough	This Sunday, August 9th, marks the 20th anniversary of perhaps the seminal moment in modern tech history. On August 9th, 1995, Netscape Communications Corporation went public. Regular listeners know, I began this project last year by collecting oral histories from a good chunk of the original Netscape engineering team (read a summary oral history here or listen to all the oral histories here). We all know that the Internet, and even the web, predated Netscape. But as the first Internet company that truly mattered, I chose to begin this project with Netscape because it was absolutely the harbinger of the modern technology revolution that has transformed all of our lives over the last 20 years.	http://www.internethistorypodcast.com/2015/08/20-years-on-why-netscapes-ipo-was-the-big-bang-of-the-internet-era/
2021-12-30	Marketplaces Year in Review 2021	Report	Juozas Kaziukenas	2021 was the year of broken supply chains, Amazon aggregators, more advertising, Shopify’s almost-marketplace, and one unanswered question - did the pandemic boost e-commerce after all? For now, the world of marketplaces revolves around Amazon - it has doubled in size in two years. No one will challenge it directly, but a different paradigm might.	https://www.marketplacepulse.com/marketplaces-year-in-review-2021