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Crypto is explicitly tech, and a crypto exchange lies at the intersection of finance and tech. It has never been a requirement that leadership of these companie
by mingus88 3y ago
Crypto is explicitly tech, and a crypto exchange lies at the intersection of finance and tech. It has never been a requirement that leadership of these companies be engineers (much to the dismay of any engineer hired at some of these companies).
It is fair to call FTX and WeWork tech companies because they built platforms, powered by the internet and apps to modernize legacy offline industries. That's been the definition of a tech company since the 90's dotcom boom.
- rounce 3y agoWhat exactly was the tech platform that WeWork built?
- makingstuffs 3y agoI’d argue crypto is a commodity and that the underlying blockchain is the tech. You can make a cryptocurrency without creating any new tech whatsoever. And you can create a blockchain without creating crypto.
- hazyc 3y agoThis is why I think it's strange that Coinbase is considered a crypto company. It is/was a Ruby on Rails web app. Almost like calling the CME Group an agriculture company.
- nvm0n2 3y agoWhat platform did FTX create? Were there apps you could install into FTX? FTX was just an ordinary financial company, AFAICT. It had a bit of software to run the order book, but wasn't run by technical people, had no R&D effort and no obvious reason to develop one, and so on. WeWork was just a company like any other, I can't see a single factor that could make this be a tech company. To me, at heart, a tech company must develop some new kind of tech and do so in-house.