Investment Funds
In 1992, Steve Jobs walked into a room of MIT MBA students and asked how many were going into consulting. Hands went up. He told them their careers would be “like a picture of a banana.” You might get an accurate picture. But you never really taste it.Thirty-four years later, that lecture is the clearest […]
Read more "The Banana Problem: Why Autonomous Agents Cannot Learn Without Reputation"AI agents are making high-stakes decisions right now – trading, diagnosing, contracting – and no governance framework actually works. I’ve spent 20 years studying governance failures. From hedge funds to DAOs to AI. The pattern is always the same: static rules chasing dynamic systems. In my new video, I break down why every current approach […]
Read more "AI is Ungoverned – Here is the Fix"It’s been a productive stretch. Since my last substantive research roundup, I’ve published more than a dozen new papers, crossed the 121-paper milestone, and built something I’ve been wanting to create for years: a machine-readable, interactive knowledge graph that maps the connections across my entire body of work. This post covers three things: the new […]
Read more "Updates"🚨 New paper drop: “The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory” by Wulf A. Kaal. AI agents negotiating, producing, and reinvesting value in fully autonomous loops—independent of human labor or consumption—are shattering core economic assumptions: scarcity dissolves, bounded rationality vanishes, transaction costs hit zero. Welcome to the Coasean Singularity and Agentic Decoupling. […]
Read more "The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5583610#:~:text=LER’s%20contributions%20include%20the%20potential,capital%20shift%20to%20risk%20assets. By Dr. Wulf A. KaalAssociate Professor of Law, University of St. Thomas School of Law Shareholders have evolved from passive investors into active participants, often driving transformative agendas through activism. Proxy contests, in which investors seek to influence or seize board control, have proliferated, imposing substantial financial burdens on companies—estimated in the billions—and contributing […]
Read more "Liquid Equity Rewards: Enhancing Shareholder Loyalty Amid Rising Activism"Fresh off the press TODAY: “Decentralized Autonomous Organizations Market Meta Analysis” by Wulf Kaal! Discover how DAOs are disrupting governance, finance, & more—analyzing 50 top DAOs for trends, challenges, & breakthroughs. A must-read for #Web3 builders! “DAOs offer decentralized, transparent alternatives to corps.” DOI: 10.1561/2900000040 https://nowpublishers.com/article/Details/ISY-040 #DAOs#Blockchain#Crypto
Read more "New Book – Fresh off the press TODAY"
Abstract The nomenclature for the term “securities token” is unclear and the term securities token has not been defined. The lack of a clearly delineated nomenclature resulted in various uses and interpretations of the term securities token, especially vis-Ă -vis the term “utility token.” This article helps clarify the nomenclature by first defining the general characteristics […]
Read more "Securities Versus Utility Tokens"Charitable giving in legacy systems is subject to several major downsides that can be addressed with decentralized autonomous organizations (DAOs). Centralized legacy charitable organization often lack foundational transparency and are subject to significant power imbalances that favor the donor and lead to centralization of the charity. Existing legal incentives often lead to so-called Zombie Charities […]
Read more "How DAOs Optimize Charitable Giving"
Stanford Journal of Blockchain Law & Policy (2019) Abstract The emergence and proliferation of stable cryptocurrencies necessitate the establishment of first order design principles for stable cryptocurrencies. After highlighting the benefits of stable cryptocurrencies for monetary policy making, overall market stability, and their impact on the emergence of decentralized commerce, the authors introduce First Order […]
Read more "Stable Cryptocurrencies – First Order Principles"So proud of the University of St. Thomas School of law (Minneapolis) @USTLawMN – where I teach. According to the Social Science Research Network (SSRN) – by far the largest online database of scholarly papers – St. Thomas is the #1 law school in the country for new downloads per author over the past 12 […]
Read more "#1 Rank – University of St. Thomas Law Faculty"
Wulf Kaal 