Thread by @dominic_w

Decentralization is about to reset a decades long entrepreneurial calculus.

1/ So far, entrepreneurs have needed Silicon Valley to source talent, knowhow and investors…

2/ Network effects provided by Silicon Valley’s concentration of talent and capital afforded entrepreneurs with such advantage their ventures alone began to dominate the world.

But this is about to change…

3/ Silicon Valley is struggling as decentralization rises:

- The U.S. federal govt. made immigration too hard, and strangled the inflow of global talent

- Big Tech is monopolizing resident talent using massive pay and perks, making it lazy, and sterilizing the startup pool…

4/ Open internet services, running on Web3 and managed by tokenized governance systems, will allow talented teams to raise money from *anywhere* in the world.

Orders of magnitude new talent will enter the startup fray…

5/ At the same time, the vast influx of talent is being empowered by remote working and collaboration tools that actually, finally, work, and have been normalized by COVID.

Distributed teams, with funds, will be the future…

6/ Today, a talented hard working team of engineers in Tomsk Siberia, cannot easily raise venture capital.

Tomorrow, they will build brilliant open internet services, and sell the governance tokens.

Aside from their drive, these entrepreneurs shall have a special advantage…

7/ On Web3 platforms like the forthcoming Internet Computer, open internet services (OSIs) can share their functionality and data with other services using non-revocable APIs.

Entrepreneurs can build on top of each other’s services without having to trust each other…

8/ Trustless sharing of functionality and data powers “service composability” and will enable entrepreneurs to dynamically and collaboratively build out richer internet ecosystems.

They will benefit from powerful new “mutualized network effects”…

9/ These powerful new network effects will appear just as Big Tech loses them, as the “Programmable Web” vision of the 2000s finally dies.

Only fools build on the APIs of Big Tech services now, as recent history has shown they can't be trusted, and can disappear and change...

10/ Decentralization is the next entrepreneurial field of dreams:

- Huge, worldwide inflow of *funded* startup talent

- Rapid, dynamic and collaborative buildout of rich Web3 internet ecosystems via trustless API sharing and service composability

- Powerful new network effects