2 comments

[ 5.3 ms ] story [ 14.1 ms ] thread
We have analyzed over one thousand projects, talked to hundreds of founders, and acquired six projects so far. Here are our learnings…
I think web2 vs web3 can be understood by analogy to medicine vs alternative medicine.

Alt-med has a boogeyman (Big Pharma) which it uses as a non-sequitur justification for any bullshit non-solution (homeopathy, naturopathy, supernatural). Web3 has boogeymen (Big Tech and Evil Gov) to push for irrelevant non-solutions (blockchains, NFTs, DAOs).

Both stem from a fallacy: the other thing is bad (somewhat true), this isn't the other thing (true), therefore it is good (nope; this is illogical).

Both web3 and altmed have some true believers who really really wish the solutions worked. Alt-med promises good health, harmony with nature and inner peace. These are very nice things! Who wouldn't want them? web3 similarly promises decentralization, democratization, self-determination, resistance against commercial exploitation and government overreach. These are nice too! Who wouldn't want them?

The core fallacy is that the proposed solutions are wishful thinking, and that doesn't change no matter how bad the status quo is, or how wonderful it'd be if they actually worked as imagined.

Both will tell you "you just haven't done your research!", "that pile of past failures doesn't count", "you're just in the pocket of the Big Enemy". Both are full of sociopathic scammers willing to sell any buzzwordy trinket to any sucker.