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Brendan Bernstein @BMBernstein
, 8 tweets, 2 min read Read on Twitter
The best founders & companies solve their own problem

But when bubbles form people use the momentum to solve other peoples alleged problems with the new tech most dont understand

In crypto a high % of dapps are purportedly solving a big problem that they themselves dont have
When you're decentralizing your taxes or Iced tea or supply chain and putting it on a blockchain, is it because you feel underserved from the centralized tax market or because TAM research led you to believe this was the best area to capitalize?

In most cases it's the latter
Why? Because the product today most dapps are selling is to *investors* not to *users*

To date, most dapps have been selling the promise of token price gains. For many investors, potential TAM and other token comps matter more than actually solving real user problems
Experience in a field is not necessary per se. @bchesky didn't work in the hotel industry before starting Airbnb

But crucially, home sharing was scratching his own itch. And he knew the problem very well
Most people "decentralizing" things on a blockchain don't seem to understand why a blockchain is better than alternatives because they haven't truly found a problem with the status quo

From the outside they identify superficial problems that aren't actually determinants of value
1 ex/-- "Supply chains are a $tn industry and very inefficient. Blockchains are great for creating an immutable chain. Let's put our supply chain on a blockchain."

Superficially this is attractive. But doesnt solve the real problem of getting people to mesh/and not make mistakes
On the other hand, Ryan Peterson worked in import / exports for 5 years before starting Flexport. He understood the real problems -- none of which needed to be "decentralized"-- and started a $1bn+ co.

Flexport tracks, prices and is transparent all without (GASP) a blockchain
Fake problems lead to fake solutions. Before using a blockchain to upend an entire industry, make sure you understand the industry's real problems 1st

Experiment with a myriad of solutions. And maybe it will lead you to a blockchain. But most of the time, I promise you it wont
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