Martin Koppelmann

Or, I mean, ideally, a platform like Uber and all those platforms would also be public goods because Uber, I mean, once it's built, the marginal costs or the operating costs, that's not what...

what made it expensive to build Uber.

What's made it expensive to build Uber is they spent billions on getting all the people paying for the marketing, paying to kind of buy everyone on their platform.

So that's, in my opinion, the old model.

Silicon Valley is raising tons of money to create a monopoly, get everyone on the same platform.

In the new model, people, as they join and

So basically, they are creating value by joining on the same platform, and then the platform has a network effect and is valuable.

But in essence, in my opinion, the people by joining, by kind of agreeing on the same thing,

That is where the value creation is happening.

And this is where tokens are super useful because with a token you can get incentives aligned and you can make this

Well, just joining on something, and the something can be money or the something can be, okay, we are all using Uber to order our taxis, or the something can be, we are all using this platform to buy and sell goods, or we are all using this platform to rent out our space, Airbnb.

So kind of letting everyone participate in this value creation, so everyone who joins the platform, and of course, early adopters will get a little bit more, and those who join later will, well, they then still have to pay some fees.

Right, but I mean, that's to some degree, I mean, well, that's how Uber works.

So in the beginning, someone is paying 2 billion investors, and in the end, kind of the users should pay it.

And you can make this curve much, much flatter.

So you can say the first users are, or I mean, they pay their regular price plus 20%, and then later, and if more and more people join, well, then the early users get

get a bunch or get a little bit of that.

So, I mean, yes.

Yeah, I mean, I think what needs to be part of the component is that there is value creation by kind of agreeing on something.

I am not sure if I see this with a school.