So many crypto companies are building 100% commodity open source technology with no clear business model.

Funded by a glut of VC $$ chasing hot narratives funded by LPs with nowhere else to invest thanks to the money printer going brrrr.

What happens when the money dries up? Does it all come crashing down?

co-founder stelo.com. theoretical cs phd dropout. into math, music, ml, macro, markets, surfing, writing amandhesi.net

Nice thing about open source is that it continues to be useful regardless.

It's as important to recognize that some things are unsustainable as it is to recognize that not everything has to be perpetual or profitable.

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

Tell that to the VCs and their LPs - they probably wouldn’t be too happy about that!

Yes, and that's why I'm saying when it becomes clear that you can't profit off open source web3 companies that money may dry up. The whole point of venture capital is to make $$, it's not charity or altruism

Plenty of VCs invest in open source, especially in the web3 space. It kinda depends on how dumbed down our utility function is. There are lots of ways to create value without maximizing extractive behaviors.

I think it‘s their responsibility to invest in what makes sense.