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J.eth.id 🎩🧑🌾 @ethxy
@jethid
I've found the closest analog to these early years of crypto were the early years of social media. Discovering extremely powerful emotional responses triggered from a CRUD database was like discovering nuclear power from these tiny pellets of uranium. This echos the powerful incentivization enabled by the discovery of digital scarcity. Back in 2006-2012 you had thousands of startups of various sizes building all sorts of variations of social media. In my YC batch during this period, half the startups were working on mobile social media apps of some sort. (SoLoMo, MoLoSo, etc.). There were plenty of high concept, big raise startups that were pure narrative and crashed. There were weekend projects that ended up gaining viral traction and raising VC funding within 72 hours of launch. (Remember Yo?).
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J.eth.id 🎩🧑🌾 @ethxy
@jethid
It was a crazy boom time where it seemed like any college student could grab some friends, hack out an app and become millionaires. This is not unlike the feeling today where you can get some friends to create a new protocol or a new memecoin. Eventually the industry matured and people focused on the critical metrics + revenue (30, 60, 90 day retention / impressions per visit / ARPU) and became much less shiny. Resources and attention consolidated to the giants that began their slow march of monopoly through acquisition or domination.
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J.eth.id 🎩🧑🌾 @ethxy
@jethid
For what its worth, I still believe we have a few more years before the opportunity is shut completely for fresh entrants to raise a ruckus. Watching my parents struggle to use crypto has me convinced the crypto / non-crypto barrier hasn't been broken with sufficient enthusiasm. It is here that I'll be directing my attention as the pivotal spigot to the role crypto should be playing in the world.
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Sam (crazy candle person) ✦
@samantha
Crypto needs to be so easy to use that a high schooler can use it
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kenny 🎩
@kenny
watching my parents try to use facebook for the first time was equally painful, but they learned to use it because there was something they wanted to do with it people will get past onboarding friction if the product is worth it we need to be honest with ourselves that our products simply aren't good enough at the moment
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