This work is less about what was happening in the 2000s and more about what those early signals suggested about seemingly endless possibilities in the future. What was to come — even if we weren’t quite sure what that was — was a bigger deal than what had already happened.
Why does it matter? Everything is falling apart. Terra collapsed largely thanks to its token design. Projects that attracted millions or billions of dollars with the promise of absurd APYs are learning the truth of the old adage, “Easy come, easy go.” The regulators are coming. Tokens that were worth a lot of fiat a couple weeks ago are worth a lot... See more
There’s a lot of mis-information being shared about VC performance and how it translates into LP returns.
There’s also a lack of understanding about how the VC ecosystem broke the LP ecosystem over the past few years and why this matters A LOT.
Here’s what’s going on:🧵👇
Whether this is a good thing is up for debate—we should, of course, still fix things like income inequality and climate change. (And we need policy changes to complement private sector solutions.) But consumer technologies will always adapt to changes in the people they’re being built to serve—and with the Gen Z and Millennial generations radically... See more