Finance Internet Culture Startups

Day 315 and Probably Nothing

The aesthetics of most crypto backlashes feel easy to dismiss if you have bought into the optimism that web3 might release the stranglehold of the Big Tech monopolies. Bomers & losers griping are just copium right?

Bitching about scams and grifters is fair. But every leap the tech industry has ever had has come with it’s share of idiotic opportunists. They usually get wiped out out. Well except the accidental millionaires. You kind of have to learn to live with that. Plenty of underserving fucknuts will be richer than you. NFT parties in New York isn’t inherently stupider than Comdex. Life is unfair. And yes it sucks. Go to therapy.

The reflexive criticism of crypto tends to break into more nuance when it goes from “but scammers” to “but utility!” But no one thought Twitter would be useful either and most of my social and actual capital has been derived from social media. The downside of web2 is that only a small portion of people benefited. And it’s true that the rewards weren’t terribly even. The accumulation of power and capital has been disastrous. But that should be more of an incentive to push for a decentralized future not less.

I had a lot more thoughts on this topic earlier in the day and I had planned on diving deeper with citations but I’m tired so I think I’ll leave it at that. If you are angry and defensive about something new it’s worth asking yourself why it scares or upsets you. Maybe the defense mechanism is hiding something important from you.