Hi Farcasters. Katie Haun and I co-wrote a post about the last week and how we think about it in the context of a long term view on web3. Here is the post on my web3 blog https://avc.mirror.xyz/0yXYaQUllC1da64aEpcMTK3d4UQ49bCVqUnfJ_xBtIs

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Nice read. Post would be have more complete if included concrete examples imo. But maybe I’m missing something..

Good writing as always, thanks for sharing

With the switch from general public ICO funding -> VC funding in this past wave, appetite for funding "underlying innovation" collapsed, while web2 and Ponzi funding appetite exploded.
Will there be a shift back?
No.
Fair to expect a 40+ year winter, as happened in AI.
Cycles repeat. https://i.imgur.com/MtjRTqx.png

Just read it as a subscriber of your newsletter. Great read!