The Breakdown The Breakdown with David Canellis | Teaser
15 snips
Jan 28, 2026 A deep dive into crypto's underlying systems, incentives, and power structures. Exploration of price as an outcome rather than a mechanism. Discussion of crypto as money, technology, and a borderless coordination layer. Preview of analysis paired with interviews of builders, investors, and policymakers close to protocol design.
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Look Under Crypto's Surface
- Crypto's surface metrics like price and narratives hide deeper mechanics driving outcomes.
- David Canellis emphasizes code, incentives, and unspoken rules as the true drivers of the system.
Price Is The Output, Not The Mechanism
- Price is an output, not the mechanism that creates value in crypto.
- Focus on protocols, incentives, and power structures to understand where value accrues.
Control, Value, And Systemic Collisions
- Key questions are who controls block space and where value actually accrues in protocols.
- Understanding collisions between decentralization, regulation, capital, and the state reveals systemic outcomes.