In 1987, May's friend Chip Morningstar introduced him to the economist and entrepreneur Phil Salin—a meeting that would lead May to formulate the concept of crypto anarchy. Salin was building the American Information Exchange, or AMiX, the first online marketplace for buying and selling information. "It was clear he was a strong libertarian of the Hayek sort," May recalled. "We all shared the same views." But Salin's vision of an e-commerce platform that would reduce transaction costs, facilitate cross-border trade, and make localized expertise more widely available didn't resonate with May's anarchism. . . " J. Epstein - *REASON*