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Cryptocurrencies and web3 demonstrate promise as ways to escape from the VC-funded walled gardens that are more typical of previous eras of the web. Ironically
by jka 5y ago
Cryptocurrencies and web3 demonstrate promise as ways to escape from the VC-funded walled gardens that are more typical of previous eras of the web.
Ironically that means that excessive amounts of money are being thrown at them in order to obtain any kind of small angular velocity towards funders that believe they can capture the next generation of the market -- or simply to prevent it from happening, for those with existing moats.
Simply wait. Give it another five years to a decade or so and the tide will recede and the valuable technology will remain above the silt.
- pornel 5y agoYou’re merely replacing old masters with new. There’s a ton of VC money flowing into “web3”, because they’re replaying the same game of adding a service on top of an open protocol to capture and centralize it.
- jka 5y agoI think they're the old masters and they want to become the new ones over a larger landscape. They know the "limitations" of the existing model (the ways in which it is not centralized) -- as do many others -- but they want to lay a claim to some of the solution. To do so requires twisting reality in ways that involve huge sums of money to create distortion fields.