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If crypto replaces Ticketmaster, that's a win for us all

• arcticbull 5y ago
  Sure but it won't because anyone can, today, throw a CRUD app on AWS that handles ticketing. The technology is not the reason Ticketmaster is successful. They're successful because of the value they add and the agreements they hold. They're owned by Live Nation. Live Nation owns the venues and manages the careers of artists. You're welcome to start a competitor today on AWS. It will be cheaper, faster and more effective than a crypto solution, and have all the same features. And it will still fail because the act of issuing and redeeming tickets from a technological perspective is not how Ticketmaster creates value. They're not a $24B business because they figured out how to print QR codes and scan them later. This is another one of the so-called killer apps that folks hold out to enthuse crypto audiences but it doesn't stand up to the slightest bit of scrutiny. The three core axioms of crypto hold that (1) if you think crypto is a solution to any given problem, you either don't know enough about crypto or about the problem - and (2) if you develop a real honest to goodness business around crypto you can immediately make it cheaper, faster and more efficient by removing the crypto. Lastly (3) you should do it before your competitors do to maximize your edge. But crypto isn't about solving problems or creating value, it's about selling blue sky securities [1]. [1] https://www.investopedia.com/terms/b/blueskylaws.asp https://www.investopedia.com/terms/b/blueskylaws.asp