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You could’ve said almost the same exact thing in 2001, after the dot com bubble well and truly burst. Pets.com was a laughing stock. So was that stupid Super Bo

You could’ve said almost the same exact thing in 2001, after the dot com bubble well and truly burst. Pets.com was a laughing stock. So was that stupid Super Bowl commercial where they shot a hamster out of a cannon. Turns out those companies weren’t wrong. They were just 20 years too early. And one or two of them even survived and thrived. (Amazon.) Also we got a lot of fiber laid that turned out to be useful. I think it’s a similar situation here. If we knew a priori which uses cases and companies would work out we’d only fund those. But we don’t. So boom, bust, repeat. Humanity moves forward. Of course, as you said there is collateral damage. And externalities.

clpm4j 4y ago
Yeah, but buying things online and having it shipped to your house was so very obviously useful and something that should exist, and you didn't have to be a PhD to realize it then. Pets.com was clearly not a bad idea. But I haven't yet heard of a crypto use-case that is obvious, at all.
xwdv 4y ago
Um we came out of the 2000s with incredible tech progress. Smartphones, social media, etc… the 2010s have given us what? Fake internet money that will soon be worthless, incremental improvements? Nothing new happened.