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>> Web3 is 'the future' if you're invested in crypto. While investors for sure talk and promote their bags, I do think this statement of yours is overly cynica
by berberous 5y ago
>> Web3 is 'the future' if you're invested in crypto.
While investors for sure talk and promote their bags, I do think this statement of yours is overly cynical and ignores the fact that professional educated investors also invested in the first place because they truly believe it is the future.
A16Z and USV, for example, could certainly be wrong about web3. But they are both some of the best early stage investors of all time, and have consistently had a thesis about the future, bet on it in face of ridicule, and been proven right in the end.
I frankly think both A16Z and USV genuinely believe in the future of this technology, and betting billions on it reflects that, and is not some cynical pump n dump scheme.
And given their history of being correct versus the average HN commentator, my money is on them being right.
- abeppu 5y agoBut surely one of the hallmarks of VC is to bet on multiple possible futures, only a minority of which needs to have a large payout? You could coherently believe that the web3 future is only 15% likely to arrive, but still justify investing in it -- and then once you've put in the money of _course_ you want it that future to be realized, and so you may as well act in ways that support it.