Welcome to Chain of Thought
Chain of Thought is an independent research house for the Machine Economy.
I'm Teng Yan, and I started this because I noticed that AI was going exponential. Over the years, I’ve learned that my edge comes from noticing patterns early and staying close to sharp thinkers.
We are watching three systems collapse into a single stack.
- Software that can reason
- Machines that can act
- Blockchains that can settle
The world is entering an economy where intelligence becomes a direct input to production.
I’ve been studying this transition to understand where value accumulates and where failure hides. I’ve been in tech for >10 years, and the convergence of AI, Robotics, and Crypto is the most exciting thing I’ve ever seen.
It’s actually happening at scale, and, in my humble opinion, will be the most important technological paradigm shift for humanity into an advanced civilization.
Our research is now published through two newsletters, each offering a different lens on the same Machine Economy future.
On-Chain: This covers crypto/blockchains as incentive and coordination infrastructure for decentralized systems.
Autonomy: This focuses on AI agents (non-crypto).
Deep Research & Big Ideas
Everything here is designed to challenge, provoke, and push the conversation forward.
Through Chain of Thought, we share:
⚫️ Deep, market-defining insights on AI trends before they become mainstream
⚫️ High-conviction takes on the evolution of decentralized intelligence
⚫️ Actionable mental frameworks for investors, founders, and researchers
Our essays and sector analyses dive deep, unpacking the inner workings of AI-native protocols and tokenized models.
Welcome aboard. Let's explore the future together.
Anchored by Teng Yan
Teng Yan was previously Head of consumer research at Delphi Digital, a premier research and consulting firm in Crypto.
He was a founding team member and senior executive at Holmusk for 7 years, a healthcare AI startup that secured over $70M in funding.
Today, he channels his expertise and passion into advancing the frontier of AI, Robotics Crypto.
Our Commitment To You
Chain of Thought delivers the highest-value, actionable insights in the Crypto AI sector, equipping our readers with a unique competitive edge.
You can always count on a high signal-to-noise ratio.
📗 Research Excellence
We strive to deliver the most valuable, insightful, and actionable research in the Crypto AI space.
🤝 Trust is key
We provide independent, objective, and unbiased insights you can rely on.
🪖 Pushing the Frontier
We publish only when our research meets the highest standards of rigor.
