Yep. Except:
1. This was about important internal tools. The team was stuck in some architecture nightmare of their own doing (writing it in rails but headless, with graphql api, and a SPA react app, constantly needing frontend engineers for changes). I call this kind of thing 'cosplaying an enterprise production app'. All that complexity was in the way and using straight rails was perfect in that case.
2. I make calls like this all the time. Usually someone on the team asks me to. They see what needs to happen but don’t want to be the bad guy. I’m happy to just make the call if I agree with the premise. Saves enormous amounts of meetings and change management etc. Sometimes this is jokingly referred to as Founder-mode-as-a-service here.
3. For ten years I’ve also run an internal podcast called Context, where I revisit decisions like these and explain the reasoning so everyone can learn from them. This is helpful to give people all the variables that were considered and why this was the choice made given the information available at the time. I want to teach how to make such decisions effectively without needing me. Sunk cost fallacy is a problem.
4. Any notions that Shopify is succcessful despite of me doing this, instead of because of it, will have a hard time making their argument come together I think 😄
the part of 'two weeks later tobi learns about...' is nonsese and the pivot of that project up there happens one of the more successful examples of interventions. But getting the company to work effectively with great architecture and low technical debt baggage into the right direction is literally the job, so guilty as charged I suppose.
But there are always cope stories floating around like this because they are more fun, than saying 'somehow we needed tobi to stop doing silly architecture astronautics'. I can totally see that.
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Welcome Havenex. Series A is underway and closing soon, already applied for all required licenses (even more than required). DM me if interested to invest, note that allocation is already quite packed.
After extensive discussions with regulators, central bank governors, Financial Market Authority leadership, banks, family offices, exchanges, wallet providers and custodians, my mission became very clear:
Build the most transparent, safest, institutional-grade, fully regulated exchange possible, with continuous, verifiable proofs of solvency. Not just web3.
Havenex is not trying to become another Coinbase, Binance, Bybit or Kraken. The focus is different: infra that allows financial institutions to offer digital and traditional financial assets to their customers, while meeting the standards they expect around regulation, custody, security and transparency.
My principles are simple: 100% multi-chain. Verifiable custody. Continuous solvency proofs. Multi-sig by default. Quantum-safe keys. Hardware 2FA wallets. Confidential and RWA assets wherever regulation allows. Unique self-custody and key-loss protection mechanisms.
Some of the best engineers and experts in cryptography, exchanges and privacy-preserving technology are joining the effort.
Havenex will use Sui tech wherever it makes sense, but it will also integrate the best primitives, assets and bridges from other ecosystems.
I'm personally helping Havenex as an advisor, although it was my idea. Mysten Labs and Sui remain my focus, nothing changes there. Chief & Hacker team Officer, as always, innovating at daily basis :)
As all of you know since my Satoshi days, my goal has always been bigger: help crypto meet regulation without sacrificing ownership, transparency or security, while protecting users against malicious and shady activity and giving the best ecosystems room to thrive.
We cannot keep accepting another FTX or Mt. Gox as the cost of doing business, nor the silly, insane bugs driven by LLMs lately. Havenex intends to set a different standard. The most transparent effort in regulatory-friendly crypto. You have my signature.
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