brypto

the making of effects in web3 goes like this:
-> a bull market happens when there's liquidity levers, combined with a narrative of some technology innovation, which creates fortune effect and thus adoption phenomenon. Other factors put multipliers.
-> ppl fill the narrative with imaginations and viral story-telling
-> the optimism feeds into the bull
-> some funds get rich; some ppl get rich, wanting to become investors, both want to believe in the promise of the innovation, and prove that they are not just lucky but did the right insightful things
-> bull capital spill over to feed startups as capital tries to replicate success and ppl try to justify gains
-> the outpour of capital fuels audacious innovation and encourages aggressive hiring, expansion, and marketing, which in turn fuels the narrative in the short term
-> bull markets short-lived; most bullets become dusts, and in the ashes of no hope in a bear, some tiny bit of progress is made to seed the innovation that might matter in the next cycle

good take. I’ve known Gloria for a long time, she’s been building in crypto for 7 years, weathered many storms and lived through all the frustrations of short-termism in crypto. 

glad she brings her candor every day to work at openrank.