Breaking down the launch of ORANGE JUICE
Ideas to take with you.
- 01
Bitcoin-adjacent capital structures divide along one axis: whether the bridge to Bitcoin is built out of fiat financial engineering or out of genuine productive cash flows.
- 02
Permanent-capital vehicles offer founders a fourth option beyond selling to competitors, family, or private equity – one whose incentives point at decades rather than quarters.
- 03
AI-driven margin expansion applied to ordinary cash-flowing businesses is one of the few durable sources of the surplus that a Bitcoin treasury can actually compound against.
- 04
Any vehicle that enters public capital markets inherits public-market control dynamics, which is why anchor investors and stated leverage discipline are load-bearing signals over time.
- 05
A debt-based money system must expand its money supply forever to service prior interest, which is the mechanical reason long-run coexistence with a fixed-supply alternative eventually breaks somewhere.
