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The point here is that certain new companies will emerge that displace incumbents using the new technology. Amazon almost certainly has always been compared to

by ricw 4y ago

The point here is that certain new companies will emerge that displace incumbents using the new technology. Amazon almost certainly has always been compared to sears, Walmart etc. sears is bankrupt. Walmart and retailers in general have had stunted growth. There will be equivalent crypto disrupters that will make incumbents go south.

lottin 4y ago
> There will be equivalent crypto disrupters that will make incumbents go south. You don't know that.
jake_morrison 4y ago
One of the most interesting things is that Sears shut down its catalog business in 1993, right before Amazon was started. They could easily have been the dominant e-commerce retailer instead of Amazon, if only they had strategic vision and good management.
highwaylights 4y ago
But with Amazon, there's a reason they've grown as large as they are. They have a model that produced the world's most successful logistics business. They provide a service that is useful to people. Now they've produced the world's most successful mainframe computing business by using those massive revenues to build it around the world. A service, that's useful to people. Is there honestly a single thing any of the current batch of crypto startups actually do that is both useful and better than the status quo? (And I mean useful other than to other magic token gamblers). Everyone involved is so blinded by moooning gainz that they don't see the emperor has no clothes. It's a Ponzi. The whole market. Ponzi. If it helps, I'd think that Bitcoin and a couple of others will stick around as smashing good Ponzi schemes for a good long while. There isn't "disruption" happening "in the space". De-Fi is not novel, it's already been done long before Bitcoin. Many of those companies went to the wall because the counter-party risk is still present even without institutional underwriting. Turns out there's a reason you charge higher interest to less reliable borrowers, even with collateral. Shocker. And the tragedy of all of it is that this relentless bullshit train, that would have been illegal under the system it's trying to replace, is going to claim another few million victims when Celsius goes tits up later this week and takes every other lender with it.

by ricw 4y ago

lottin 4y ago

> There will be equivalent crypto disrupters that will make incumbents go south. You don't know that.

jake_morrison 4y ago

One of the most interesting things is that Sears shut down its catalog business in 1993, right before Amazon was started. They could easily have been the dominant e-commerce retailer instead of Amazon, if only they had strategic vision and good management.

highwaylights 4y ago

But with Amazon, there's a reason they've grown as large as they are. They have a model that produced the world's most successful logistics business. They provide a service that is useful to people. Now they've produced the world's most successful mainframe computing business by using those massive revenues to build it around the world. A service, that's useful to people. Is there honestly a single thing any of the current batch of crypto startups actually do that is both useful and better than the status quo? (And I mean useful other than to other magic token gamblers). Everyone involved is so blinded by moooning gainz that they don't see the emperor has no clothes. It's a Ponzi. The whole market. Ponzi. If it helps, I'd think that Bitcoin and a couple of others will stick around as smashing good Ponzi schemes for a good long while. There isn't "disruption" happening "in the space". De-Fi is not novel, it's already been done long before Bitcoin. Many of those companies went to the wall because the counter-party risk is still present even without institutional underwriting. Turns out there's a reason you charge higher interest to less reliable borrowers, even with collateral. Shocker. And the tragedy of all of it is that this relentless bullshit train, that would have been illegal under the system it's trying to replace, is going to claim another few million victims when Celsius goes tits up later this week and takes every other lender with it.