Welcome back to another narrative watch. All right guys, happy Monday. First day of fall, first day of backed. Big week. Be interesting to see what happens, but we are here for another narrative watch as every Monday. And we're doing an interesting narrative watch that actually comes out of my conversation with Ryan Selkis

last Friday on the Masari Unqualified Opinions podcast. So we got into the state of memes in

crypto, the state of meaming and meme warfare in crypto, which is obviously one of my favorite

topics. You know, I spend a huge amount of time on narratives, which is obviously one of my favorite topics.

You know, I spend a huge amount of time on narratives, which are, I think, closely related to memes.

And so I want to talk today just a little bit about meme warfare in general, but then two

specific memes that have been kind of lighting up crypto Twitter for the last few weeks

and ask what they mean, why they're popular, maybe just as a way

to get a sense of what people are thinking about, what people care about in different communities

within the crypto space. So let's talk first really quickly about what memes and narratives actually

are. So this is from a presentation that I did at Ethereum earlier this year. So narratives I said, I define them as simple stories we use

to make sense of complex phenomena. And basically the idea here is that in a world where

there's a huge amount of data, a huge amount of information, we need some simple heuristics

to better make sense of what's happening.

And in particular, we need a heuristics that give us a sense of what's changing and what's evolving.

That's why for me the most interesting thing is narratives that are shifting, right?

Emergent narratives, narratives that are taking down old narratives.

I think that the most interesting part isn't just what the narrative

is, but how it's changing and how it's shifting. Now, narratives are, I believe, a huge battleground

in crypto for the reason that they're all competing for scarce resources, right? There's

competing for scarce time and attention. They're competing for scarce capital. Basically,

your narrative,

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