ESSAY-010 · MARKETS · 2026.03
March 10, 2026·The General Liquidity Team
Everything-as-a-Market
Why markets are evolving from places people visit into programmable endpoints that software and agents will increasingly consume directly.
Newsroom
Positions.
What we believe, staked in public. Every essay is a position we’ve taken on the agentic economy. On the record, ours to defend.
ESSAY-009 · MARKETS · 2026.03
March 8, 2026·The General Liquidity Team
DAOs in the Age of Software Abundance
Why collapsing software production costs make ownership, incentives, and organizational structure important again, and why DAOs may re-emerge as coordination systems rather than ideology.
ESSAY-008 · MARKETS · 2026.03
March 6, 2026·The General Liquidity Team
Agent Payments Won't Look Like Checkout
Why agent commerce will look less like consumer checkout and more like business coordination: locals instead of tourists, supplier relationships instead of one-off merchants, and programmable money instead of retail rails.
ESSAY-006 · MARKETS · 2026.03
March 1, 2026·The General Liquidity Team
User Ownership == Margin Capture
Why the economics of crypto and programmable finance are increasingly settling with the products that own the user relationship, the routing logic, and the control surface rather than the raw rails underneath.
ESSAY-004 · MARKETS · 2026.02
February 26, 2026·The General Liquidity Team
The Agentic Buyer
Why agents will buy software, data, research, and execution services differently than humans, and what builders have to change if they want to sell to them.