A mental model for crypto protocols:
1) It’s like building a new city. Someone needs to build the basic infrastructure that benefits everyone.
1) It’s like building a new city. Someone needs to build the basic infrastructure that benefits everyone.
2) New cities have their respective new economies that are hard to bootstrap; moving to NYC was a risky and strange thing to do in 1700s.
3) There are early investors who look for return on investment (like buying land in a developing city). Understand their motives and appreciate the value they provide: initial capital.
4) Most people move to new places when their environments stop serving them well. That’s already happening with the Facebooks and Googles (data silos) of the world.
5) The new cities (crypto ecosystems) need to provide real utility and sustainable business models. Otherwise it’s just ghost towns with broken infrastructure and speculation.
P.S: Just discovered a great podcast/thread about this by @ali01, @jessewldn, and @Iiterature.
Podcast:
Podcast:
