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My Token / ICO / Blockchain Capital Markets Landscape - Etienne Brunet

https://medium.com/@etiennebr/my-token-ico-blockchain-capital-markets-landscape-617e6ff1eae1

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“Social scalability is the ability of an institution –- a relationship or shared endeavor, in which multiple people repeatedly participate, and featuring customs, rules, or other features which constrain or motivate participants’ behaviors -- to overcome shortcomings in human minds and in the motivating or constraining aspects of said institution that limit who or how many can successfully participate.” - Nick Szabo

http://unenumerated.blogspot.sg/2017/02/money-blockchains-and-social-scalability.html

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“The previous generation of shared protocols (TCP/IP, HTTP, SMTP, etc.) produced immeasurable amounts of value, but most of it got captured and re-aggregated on top at the applications layer, largely in the form of data (think Google, Facebook and so on). The Internet stack, in terms of how value is distributed, is composed of "thin" protocols and "fat" applications. As the market developed, we learned that investing in applications produced high returns whereas investing directly in protocol technologies generally produced low returns.” - Joel Monegro

http://www.usv.com/blog/fat-protocols