Web3 aims to expand ownership re: A) economic upside &B) governance. IMO:
A is underrated—Giving upside to >1000x more stakeholders can disrupt the network effects of aggregators
B is overrated—There'll be some positives, but we'll experience the downsides of unclear leadership
Tokens that get their value from "governance rights" are mostly bullshit.
In order to assess whether the governance rights are actually valuable, look at 3 related areas:
- Scope
- Scale
- Selfish Benefits
Quick 🧵