DeFi (Decentralized Finance) is often touted as a solution to the crypto industry collapses of 2021-2022, but this article offers a more critical assessment. While there are certain advantages to DeFi, they come with problems of their own. Leverage is opaque and can be risky, and DeFi is susceptible to arbitrary seigniorage and smart contract exploits. The lesson here is that when it comes to volatile assets, cautious over-collateralized lending should be the way forward. Read full article here
Oddities
Why Do Modern Pop Songs Have So Many Credited Writers?
The music industry has changed dramatically over the last few decades – with the number of songwriters credited on number one hits more than doubling. This is due to a combination of factors, including money, the computer and a changing definition of what songwriting is. For example, if The Beatles’ classic “I Feel Fine” was released today, it would likely have four writers credited instead of two, due to the influence of producers, samples and interpolations. With the rise of lawsuits, artists now preemptively add songwriter credits to their songs, even if the similarities between their song and the source material are coincidental. It all goes to show that the music industry is becoming more complex and competitive. Read full article here
Merv
March 29, 2023
