And liquidity.

And let's say for whatever reason, all of these other

That's insolvency.

Liquid means it's very easy to buy and sell those securities in large quantities.

Beyond drag, lift and stretch there are many other properties we could simulate.

And frankly, you might be uncertain about

And that is opposed illiquidity.

Illiquidity is a different situation.

You couldn't do it.

I'm worth 11,000.

And I can sell them.

Competitors, by definition, they are many.

Is floating

So now I have two problems. I have this and I have this.

So once again, I'm stuck holding this non liquid asset.

It's about as mysterious as the liquidity of water.

For example, government treasuries is a liquid security or a liquid asset,

Consider this.

The differed risk!

What does it mean to look at it from multiple perspectives?

And you might not even be able to find anyone to buy it a year later.

But there will be at least some type of a market in the security, so you could have what you could call liquidity.

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So there's a couple of issues here.

Safety because you know that this earnings stream is guaranteed.

They're fairly liquid securities.

All the banks are afraid to lend to any other bank.

That's it. That's the whole experiment.

And then you can imagine now Bank C is worried because now

The atoms lose their individual identity, and the rules from the quantum world take over, and that's what gives superfluids such spooky properties.

Similarly, we have the tools with which to ask the question

There's huge frictions if you were to buy and sell, there's 20 every time.

Or some kind of fluid shift.

Now, what good are springy legs then? What can they do?

Maybe it's the porn tape. He doesn't have a porn tape.

Type of risk

So this is kind of a frozen asset.

So the last iteration of this project has been called Flow, with the idea now of creating a real network of artists around the world really looking, not so much from Harlem and out, but looking across, and Flow looked at artists all born on the continent of Africa.

In fact the nuclear catastrophe benefits from a nefarious though durable specificity benefits from a nefarious though durable specificity

And they way they get this into circulation is that they'll take these four dollars and they'll go buy securities in the open market, normally very safe and very liquid securities

So that the laws of media, such as the fact that copies have no value, the value's in the uncopiable things, the immediacy, the authentication, the personalization.

And so you see this whole society getting frustrated about losing some of its mobility.

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Risk

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