I’m dubious that much else of Web 2 will survive the hop to Web 3, either from the tech or consumer point of view. The one thing I’m absolutely convinced will have to exist for Web 3 to succeed is effective and natively on-chain attribution that gives NFTs and other virtual goods their due (and gets their owners paid).
Idea machines are not new, but the form in which they appear is changing. For most of the 20th century, the home for idea machines was foundations, first popularized by John D. Rockefeller in the 1910s.
With an intake process that emphasizes past accomplishments and interviews rather than bureaucratic credentials, and with an ethos of taking chances on those who show promise rather than weeding out those who might fail, YC has been able to select charismatic and energetic candidates for its program. The three-month program serves as the foundation... See more
Belief in oneself and one’s vision for how the world could be different is what fosters a cult — or what I like to call the “atomic unit of human coordination.”
You and your ragtag team of engineers likely won’t be able to create something that is competitive with any big incumbent product.
However, you can build features, seed content, and brand it in a way that is so obnoxiously relevant for a particular group of people that their only possible reaction is “Well, fuck. You... See more
Entrepreneurs often describe building a company as a harrowing experience and doing this alongside a peer group serves as an emotionally powerful initiation for many founders, similar in some ways to the initiation and bonding rituals for groups ranging from college fraternities to military recruits. Graham has said that bringing cohorts of... See more