reputation◆the thesis
The Last Instrument
A series on reputation: why it is the last great asset without a market, and what it takes to build one well.
The thesis · reputation.money/thesis
Introduction
The Last Instrument
Land had no market until someone wrote deeds. Companies had none until someone wrote shares. Debt had none until someone made it tradeable. Reputation is the last one, and it is the biggest.
Part 1 · latest
Every instrument was abused first
Deeds, shares and bonds were each used for fraud before they built markets. The answer was never to stop building. It was to build the safeguards in.
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