Thread by @CryptoSocietyS1

"Why are tech growth stocks sagging while crypto moons?"

This question prompted one of @packyM's most popular reads to date: The Great Online Game.

Last month, Packy shared actionable tips & answered questions from CCS members & scholars. Highlights below 👇

This game is played concurrently by billions - CEOs, artists, researchers and regular people like you and me.

Crypto is the in-game currency. We are our own avatars. And how well we play determines the rewards we get online and offline.

You can choose how to play depending on your resources and skills. You can level up fast.

Financial & social capital are no longer tied as tightly to where you went, who you know or what your boss thinks of you.

Some rules of this game that we're all playing:

- Don't be a jerk
- Lean into things that you find interesting
- Be aware of what piques your interest, follow your curiosity
- No big deal even if you have to reset
- Jump in, dig in and engage

"Are the downsides to playing The Great Online Game, e.g. dopamine addiction?"

Yes but net-net playing creates more optionality than not. So just don’t close doors as you play the game; protect against downsides.

Real vs pseudo identity:

Both can do well.

@ParikPatelCFA and @BoredElonMusk both went from making jokes/memes to thinking about evolving into a business. @punk6529 is another great example.

Be authentic. Set the right expectations from the beginning.

Playing the game in crypto vs other industries:

Most people in web3 are involved in other things. You can marry your passion with upside such as tokens for contributing to a project.

web3's unique ethos:

People expect you to dive in, try diff things and help where you can 🤝

"You have a knack for finding interesting projects early, what's your secret?"

If something gets me really excited, I assume that they'll also get others excited as well.

Go from just lurking to being involved in the convo. What are people smarter than me talking about?

"How do you stay on top of everything in a space that moves so quickly?"

Realize that you'll miss many things and accept that. Lean into the things that are going to be the most interesting/representative of a bigger ship or opportunity.

"What will be the "superpower" of web3?"

Community management - constructing a narrative, getting ppl to believe in that narrative and tapping into multiplayer coordination. One of Packy's portfolio companies was incredibly about hiring a particular mod from an NFT project.

The future of funding:

We're seeing a shift from labor to capital. The ability to invest time, work and money will come way earlier in web3 projects instead of having to wait 7 years to buy Airbnb stocks.

"Sprint vs marathon" in web3:

You can approach smth as a marathon if you know the path ahead, but that's not the case for web3, where the path keeps changing.

But focus on developing deep expertise e.g. tokenomics but also a slightly wider skillset. Ignore the hype!

Intersection of web3, education and economic mobility:

@Jihoz_Axie: "People should be paid for contributing their attention."

The CAC of web3. Examples of learn-to-earn and on-chain credentialing: @rabbithole_gg and @0xstation

tl;dr
- The Great Online Game is free-to-play
- Everyone can play it, we can all level up fast and the upside is infinite - crypto is the in-game currency
- Go from just lurking to getting engaged and helping
- Build deep expertise as a bet for your career in web3

You can read article summary of @packyM's event on our publication:

society.mirror.xyz/hLiwB73KosN2Uo…

p.s. we link to a doc with detailed notes :)

All proceeds from NFT collections will be split equally between @packyM and @CryptoSocietyS1.

We'll use proceeds to fund future programming, scholarships, & (publicly shared) research.

🍎 We'll be eternally grateful of your support :)