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So I attended a year end function last month and there was an independent financial advisor present (CFP straight-arrow-type-guy that was reluctant about crypto
by BatteryMountain 5y ago
So I attended a year end function last month and there was an independent financial advisor present (CFP straight-arrow-type-guy that was reluctant about crypto's a few years ago). During a conversation he expressed regret that he didn't get onto the crypto train 3 years ago and that he is going alllll in on web3 and threw the word nft's around a bit and that he has some more web3/nft webinars lined up for the coming week. Mind you, this guy manages about $50M for his clients (it's true, I saw his dashboards on a third party website - he knows his shit). He told a whole bunch of people at the event about nft and how it will put spotify and youtube out of business.
But the thing is, he is not tech-inclined at all and spends most of his time on excel and on third party platforms (as in, fund manager platforms, insurance platform, medical aid, taxation etc). So what I took away from his talking about this stuff is that financial advisors are being "educated" to think that web3 = crypto = new 4th industrial revolution etc and everyone will get rich as hell very quickly so we all have to do it NOW. It was a huge wtf moment for me because I was mostly ignoring this stuff and the whole web3 umbrella and here I have a legit CFP guy talking about this stuff. All while I'm standing there not knowing wtf he is going on about, most of it sounding extremely dodgy from a software developers perspective.
Make of this what you will but I think a lot of people will get hurt, esp non-tech people. I feel like these people live in an alternate universe and they've built a whole ecosystem of webinars, trading platforms that they are trying to sell onto normal people that doesn't know better; that doesn't seem to be used for the greater good (most of it scammy or used for crime etc).