Mallesh Pai(@malleshpai):Be very wary of ideas like "all we need to make this work is to have a market that prices x. those market prices will be efficient and make it possible to do y". if the idea also has a plausible story about who will provide liquidity/ pay for price discovery in those markets, and why, you might be ok. But if it's just "markets work", run, don't walk.

Mallesh Pai

@malleshpai

Forward Deployed Researcher and Recovering Economist @tempo.

Joined December 2009

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Mallesh Pai@malleshpai

2026.08.21 01:41

Be very wary of ideas like "all we need to make this work is to have a market that prices x. those market prices will be efficient and make it possible to do y". if the idea also has a plausible story about who will provide liquidity/ pay for price discovery in those markets, and why, you might be ok. But if it's just "markets work", run, don't walk.