The New Internet failed to provide a clear enough plot, a straightforward enough of a product, nor legible enough of a movement to fend off the effects of value drift. Young people especially want to work on material things that pay well and the New Internet never really had a clear career path attached to it.
After 18 days of diving deep into crypto, I didn't come out of it a decentralization maxi. There's space for both types of software, community, and utility. In many ways decentralized software really needs centralization: spam, fraud, content rights, powerful programs, etc.
For products to work at scale they need sustainable business models and networks. Would love to see more discourse in web3 about the complex financial incentives conflicts that we’re going to see if the movement goes beyond DeFi/trading-related use cases. A few examples👇