• Community-owned platforms represent a major shift, challenging Big Tech monopolies.
• Explore investment opportunities in the infrastructure enabling this digital revolution.
• Key stocks include crypto exchanges and blockchain security firms.
• Institutional capital is fueling growth in community-owned platform infrastructure.

The Quiet Rebellion Brewing Against Big Tech

For the better part of two decades, we’ve all been part of an unspoken agreement. We get to use shiny platforms for free, and in return, a handful of companies in California get to know more about us than our own mothers. They’ve built trillion dollar empires on our data, our attention, and our cat photos. It’s been a cosy arrangement, but I think the foundations are starting to look a little shaky. A quiet rebellion is brewing, one that isn’t about leaving these platforms, but about fundamentally changing who owns them.

The Digital Landlords and Their Tenants

To me, the current internet feels a bit like a vast digital estate run by a few powerful landlords. We, the users, are the tenants. We live here, we socialise here, we build communities, but we don't own a single brick. We have no say in the rules and we certainly don't see a penny of the profits. This model, where users are the product, is being challenged by something often wrapped in jargon like 'Web3' or 'decentralisation'.

Forget the buzzwords for a moment. The core idea is simple. What if the users, the people who actually create the value on a network, could also own a piece of it? What if they could vote on its future and share in its success? This isn't some utopian fantasy. It’s a technological shift that could redistribute digital power from the few to the many. And like any revolution, it needs tools, infrastructure, and people willing to build it.

Forging the Tools for a New Economy

This is where things get interesting for an investor. While everyone is distracted by the latest meme coin, the real work is being done by companies building the essential infrastructure for this potential new internet. Think of it like a gold rush. You can speculate on finding a nugget, or you can sell the picks, shovels, and maps. I’ve always preferred selling the shovels.

Companies like Coinbase, for instance, are more than just a place to buy and sell crypto. They are the main gateway for people to participate in these new user owned networks. Miners like Riot and Marathon are the digital power plants, providing the raw security that keeps these decentralised systems from collapsing. They are building the plumbing, the wiring, and the foundations. It’s these foundational businesses that I find most compelling. You can see a collection of them in the Community-Owned Platforms basket, which groups together the exchanges, miners, and payment systems that could underpin this shift.

When the Grown Ups Enter the Room

For years, this entire space was dismissed as a playground for tech idealists and speculators. But something has changed. The grown ups have arrived. Wall Street, with its deep pockets and conservative outlook, is finally taking notice. Major banks are offering custody services, and investment firms are launching dedicated funds.

This institutional embrace is significant. It suggests a recognition that this isn't just a fleeting trend. It provides a level of legitimacy and, more importantly, sustained demand for the infrastructure that makes it all work. When serious money starts flowing into a sector, it’s usually wise to pay attention to the companies that stand to benefit from that flow. This is no longer just retail enthusiasm, it’s a calculated move by some of the world’s biggest financial players.

A Healthy Dose of Scepticism

Now, before you get carried away, let’s be clear. This is not a one way bet. The road ahead is fraught with risk. These markets can be incredibly volatile, and politicians are still figuring out how to regulate it all. Not every project will succeed, and competition from the old guard, the Big Tech incumbents, is all but guaranteed. Investing here requires a strong stomach and a long term perspective. The idea of a user owned internet is compelling, but its success is far from certain, and any potential rewards must be weighed against very real risks.

Deep Dive

Market & Opportunity

• The investment theme consists of 15 selected stocks spanning exchanges, mining, and payment systems.
• Institutional crypto adoption has grown to hundreds of billions in assets under management.
• The core opportunity is the shift from a model where tech giants control platforms to one where users can own, govern, and profit from networks.

Key Companies

• Coinbase Global Inc (COIN): A regulated crypto exchange acting as a primary on-ramp for users to participate in decentralized governance and a bridge for institutional investment into digital assets. Generates revenue from trading fees.
• Riot Blockchain Inc (RIOT): An industrial-scale Bitcoin mining operation that provides security and computational power for decentralized networks, securing the foundational layer of community-owned platforms.
• Marathon Patent Group Inc (MARA): An industrial-scale mining operation that secures the underlying blockchain networks, providing the energy to keep decentralized systems running.

Primary Risk Factors

• Digital asset markets remain highly speculative and subject to volatility.
• Ongoing regulatory uncertainty creates risks for infrastructure companies.
• The sector is technically complex, and not all Web3 projects will succeed.
• Competition is increasing from traditional tech companies like Google and Meta developing their own blockchain initiatives.

Growth Catalysts

• A fundamental trend toward user ownership and decentralized governance, particularly among younger internet users.
• Increasing institutional adoption from Wall Street, major banks, and pension funds, creating sustained demand.
• The development of real business models with revenue streams from trading fees, block rewards, and transaction fees.
• The growth of decentralized autonomous organizations (DAOs) and Web3 applications increases demand for security infrastructure.