Fungible, Non-fungible

Fungible, Non-fungible

What's the difference between fungible and non-fungible?

Simply put — fungible means there is no difference in value between two things exchanged between parties (if you have a $1 bill and I have a $1 bill, neither of us lose or gain anything by exchanging them).

Non-fungible means the opposite. I have an original Picasso, you have a finger painting. They are both works of art, but their values are not interchangeable. 

Digital Collectible


If you are building something, it is far more useful to focus on the work you are doing to produce the result than the result itself.

Labor is generally a more interchangeable resource than vision.

To help understand this idea, consider the contrast between the two concepts ancient Greeks used to think about time.

It should be relatively simple to identify when we aren't accumulating net new experience, but in practice, it doesn't seem to be.

Language is an incredible tool. It makes it possible for us to externalize what we think and communicate it to others.

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." - Warren Buffett

The extent to which anything keeps working after you stop working is how much time you earn from making it.

To make progress, we must solve harder and harder problems in sequence.