Entrepreneurship as Permissionless

Last week, I was talking to a would-be entrepreneur, and the usual questions came up about my personal experiences, background, and philosophy. As I thought about how to emphasize a key point, I shared that my favorite word when it comes to entrepreneurship is permissionless.

Permissionless—while not a word used often in everyday conversation—captures the ethos of entrepreneurship so well. The term comes from the Web3/blockchain world and refers to a protocol that is accessible to everyone without restriction, meaning no prior permission is required.

Entrepreneurship is the science and art of creating something from nothing that someone else wants. The key aspect is that “something from nothing” moment. Think about the great entrepreneurs of our time: they didn’t ask permission to create a new search engine, to invent a new way to connect with friends, or to set up an online bookstore. Permissionless captures the idea that you can simply act. You can create new products. You can launch new services. While it’s true that someone must eventually want to buy or use what you make, you don’t need their permission to prototype, test, and refine it.

There’s another element of permissionless thinking that resonates with me: risk-taking. My favorite way to describe it is this—most people overestimate risk and underestimate opportunity. If you’re constantly seeking permission to try new things or explore new opportunities, you’ll inevitably encounter resistance from decision-makers who are focused on the path they’re already on.

When taking risks—especially those most people consider “too risky”—you need even more permissionless thinking. Human nature drives us to seek approval from others: peers, colleagues, mentors. But when you step outside the bounds of generally accepted risk tolerance, you have to be willing to proceed without that approval. It’s not that people don’t want you to take risks; rather, they want you to be successful and to follow a path that has worked for them and the people they know. The problem is that the biggest opportunities often lie outside those well-worn paths.

So the next time you think about startups and innovation, I hope one of the first words that comes to mind is permissionless. No permission required to invent the future. No permission required to start a business. Build a permissionless mindset—and create something from nothing.