How much value was created after the IPO, thus accessible to retail?
What was investor, team, and user ownership at IPO? (The latter is usually 0 in web2).
Now do this for web3 companies & projects.
Some notes:
Define a web2 company for these purposes as an internet company that does not make significant use of a blockchain like Bitcoin or Ethereum in its business. Facebook, Twitter, etc are canonical.
Define a web3 company or project as one that does rely on a blockchain.
To win
We’ll award $1000 to the best infographic, and maybe some runner up prizes.
Post it as reply to the thread within 24 hours, along with raw data + sources.
More notes
1) In the analysis you can break out web1 entities like Yahoo, or BTC-only entities if you want. Founders did way better in web2 than web1.
2) Overall goal is to look how broad-based the wealth creation was. How much did users & retail investors gain in web3 vs web2?
A list of all airdrops for serious web3 projects would also be good. Uniswap & ENS did in the range of $10k or more per user. What were total numbers?
Web2 tech platforms like Facebook, Twitter, YouTube, Spotify do not provide airdrops but may have some user monetization stats.
Btw, don’t think of this as work, it’s optional fun, and will be more prizes in the future.
That said, if some people want to work on it after the weekend, as promised I’ll give one $1000 prize within 24 hours, and another for best within 1 week. Maybe honorable mentions too.
Reviewing submissions now. Please reply here or DM to make sure I see it.
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One thesis is: each day we see the most important thing ever. But then yesterday’s most important thing is less important. And last week’s viral post? Already forgotten.
Perhaps we want more consistency and less novelty.
I first saw the Feiler Faster thesis in a piece by @kausmickey 20+ years ago. More recently, @Noahpinion and @micsolana have written on the phenomenon.
But I feel it’s been going on for longer than that, perhaps accelerating with media decentralization. slate.com/news-and-polit…
It's longevity, quantified self, and self-improvement. Transhumanism is what's next. tim.blog/2021/12/14/the…
Btw, I've thought a lot about the tradeoff between popularity & truth.
Failure mode 1: just become popular
Failure mode 2: just focus on scientific truth
Success mode: discover truths, then popularize them, ideally via a vehicle that makes them undeniable
Thoughtful piece by Noah, even if I disagree with some specifics. In particular, I wouldn’t characterize currency competition as financial anarchy. Often it’s financial stability. In the past, dollarization restabilized inflationary economies. Today that may be bitcoinization.
The ability to steal huge amounts of money is not new. In fact, institutions do it all the time.
That's why Bitcoin was invented: so that each person can decide for themself whether to shoulder the risk of a corrupt establishment, or take the responsibility of self-sovereignty.
You can still keep your funds with a centralized custodian. But now you have a choice: that can be a bank, an exchange, a smart contract, etc.
You can also go fully self-sovereign. Or something in between, like multisig or social recovery.
This is true, but cuts the other way.
The only secure backend services by ~2040 will be on-chain. The reason is that chains get hardened by constant attack, with 24/7 bug bounties included by default. Compare this to current government IT security.
We do not argue that states are irrelevant; rather, they will be more relevant if they embrace the arrow of history and work with the network, and less relevant if they attempt rearguard actions against it.