I cannot shake the similarities between the Dotcom Boom and web3:
- Huge hype
- A technology most people don’t understand
- Few practical/real-world use cases
- Incredible returns in the span of months (then: IPOs. Now: tokens)
- Lots of naysayers
- Celebs/influencers involved
- Huge hype
- A technology most people don’t understand
- Few practical/real-world use cases
- Incredible returns in the span of months (then: IPOs. Now: tokens)
- Lots of naysayers
- Celebs/influencers involved
For the Dotcom Boom, there was the Dotcom Bust.
It’s impossible to predict if this will follow: but I do predict a crypto winter. All crypto startups need hypergrowth in users/revenue to survive & success depends on mainstream adoption.
I expect some adoption: not mainstream.
It’s impossible to predict if this will follow: but I do predict a crypto winter. All crypto startups need hypergrowth in users/revenue to survive & success depends on mainstream adoption.
I expect some adoption: not mainstream.
Some characteristics are similar:
Dotcom Boom companies paid a *lot* more for employees, with the expectation of becoming millionaires in 6-18 months.
Same thing is driving the hiring success for web3 companies who are burning cash like there’s no tomorrow, paying above market:
Dotcom Boom companies paid a *lot* more for employees, with the expectation of becoming millionaires in 6-18 months.
Same thing is driving the hiring success for web3 companies who are burning cash like there’s no tomorrow, paying above market:
https://twitter.com/gergelyorosz/status/1469964004403650564
And right now so many web3 startups are selling the promise that they’ll have the growth potential of the likes of Solana.
So 10x in a few months.
There’s only so many of these hypergrowth scenarios…
So 10x in a few months.
There’s only so many of these hypergrowth scenarios…
https://twitter.com/gergelyorosz/status/1469966740457197572
Ams just like with the Dotcom Boom, it’s impossible for people without deep understanding separate the garbage and scam projects from the few really good ones.
It’s incredibly noisy. Some projects run off with money. Others have zero expertise, but know influencers etc.
It’s incredibly noisy. Some projects run off with money. Others have zero expertise, but know influencers etc.
“Ok, so let me read about independent viewpoints.”
Good luck with this. Almost all in-depth coverage are from people heavily invested.
When impartial articles are published, the crypto crowd labels them as an attack on them.
Here’s an excellent article: reuters.com/investigates/s…
Good luck with this. Almost all in-depth coverage are from people heavily invested.
When impartial articles are published, the crypto crowd labels them as an attack on them.
Here’s an excellent article: reuters.com/investigates/s…
Just like with the Dotcom Boom, those getting involved early enough do very, very well (both financially and reputation-wise).
It was a bad deal to get involved:
- Investing starting from the middle of the boom (you lost it all)
- Getting a job towards the end (you got fired)
It was a bad deal to get involved:
- Investing starting from the middle of the boom (you lost it all)
- Getting a job towards the end (you got fired)
Just like the Dotcom Boom,lots of technology innovation was a decade ahead of its time.
WebVan .com was Amazon ten years early, with not enough customers, not enough trust, and too difficult infra challenges.
DeFi startups face the same hurdle: lack of customers, trust, infra.
WebVan .com was Amazon ten years early, with not enough customers, not enough trust, and too difficult infra challenges.
DeFi startups face the same hurdle: lack of customers, trust, infra.
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