Web 2.0 Investors Aren’t Cut Out for the Web3 World

1/ Have been thinking about the evolution of VC investing in crypto, if we believe it to be as big or bigger than the internet shift of the late 90s and mobile of the 00s. Today, there are no more “internet” or “mobile” tech investors. To not be is to be irrelevant.

This is the great exciting and invigorating puzzle today. How does a successful company leverage decentralized databases, their novel capital structure (token cap table), their different regulation, and fresh ways of acquiring users into a massive business?I don’t know yet, but I do know when it comes, we won’t call it a web3 company.

In Web 3, companies achieve liquidity early via ‘tokenomics’ and other novel mechanisms to raise capital from users (often highly speculative in nature), and build the necessary technical infrastructure to create an alternative internet: decentralized servers, identity-management ‘wallets’, token exchanges allowing easy movement among various ecosy... See more