The Fat Wallet Thesis
Forget the core tech. Distribution is destiny. He who controls the front-end, controls the future
The most valuable layer in a technology stack is often the one closest to the end-user, with the lowest switching costs and the most direct distribution channel. In crypto, this happens to be wallets, but the principle could apply to many other technology domains.
- As core technologies (protocols) become more commoditized, value shifts to the user interface
- The layer that controls distribution and user flow becomes most valuable
- This isn't unique to crypto - it's a potential universal principle of technology stacks
Compare:
- Blockchain (ISP/Datacenter)
- Protocol (AWS/GCP)
- Wallet (Chrome/Safari/WeChat/X/Meta)
Where are your bets placed?
https://x.com/robbiepetersen_/status/1851652862855528682