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Season 3 | Episode 2 In this episode of Bell Curve, Zaki Manian and Sam Hart join us to discuss how Aggregation Theory applies to crypto protocols. We explore if applications can covert user relationships into sticky profits, crypto moats, blockspace as a commodity, the benefits of controlling the full tech stack and more! PS: don't miss the "Smiling Curve" section of the episode - it's an under-discussed idea that will start appearing in crypto value-capture debates! - Timestamps: 00:00 Intro: Pre-Interview 02:29 The AppChain Thesis 09:31 Aggregation Theory 25:31 Do Moats Exist? 31:34 Is Blockspace a Commodity? 38:25 The Smiling Curve 47:04 Will dYdX Validate the AppChain Thesis? 52:28 Controlling the Entire Stack 1:01:22 Recap: Post-Interview - Follow Myles: / mylesoneil Follow Mike: / mikeippolito_ Follow Zaki: / zmanian Follow Sam: / hxrts Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH - Resources: Ben Thompson's Aggregation Theory https://stratechery.com/aggregation-t... - Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.