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Joe Petrich 🟪
@jpetrich
When are people going to learn that users care about apps not chains?
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Samuel ツ
@samuellhuber.eth
as soon as they stop making money from running the same playbook all over again
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Joe Petrich 🟪
@jpetrich
💯... not much hope of that is there?
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Samuel ツ
@samuellhuber.eth
well it assumes that people stop dumping their earnings into it in hopes of getting a break. watching the wealth gap will tell you if continues or not (PS: people getting poorer increases gambling and crypto makes it easier) also in the non crypto world betting is becoming more and more entrenched. I also see the same scams in asset management work since the dawn of time So I don't expect it to change at all I just expect greater outcomes to come from the first apps gaining lots of traction that don't do it. That shifts lot of builders heads
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Joe Petrich 🟪
@jpetrich
I sure hope so. The incentives are really bad. I know if we launched a token today we'd likely end up personally richer than if we didn't. But there would be no value creation and it would not be good for the long term health of the company, our product and our users. So I ethically can't do it until there's some real value prop for the consumer that would otherwise just be exit liquidity.
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Samuel ツ
@samuellhuber.eth
isn't that the current crypto playbook though? get traction, use traction to market signal and exit via token. -> enjoy live and fuck around? the company playbook over generations has been. Build company that in itself is valuable and use capital markets as needed (for capital) crypto is used here as early capital event. You described well how I also feel about the use and that most haven't driven value. Though Amazon for example IPOd early (e.g. token launch) and now is worth much. the stock does nothing good or bad of the consumer. Difference being the token doesn't even give anyone equity at all. It's just a mental proxy people trade
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Joe Petrich 🟪
@jpetrich
I think the fact that the token doesn't give any equity is the big difference. If there were a legal way for US companies to IPO via ICO I think that could be really cool to democratize access to early stage equity, but I'd want to see similar filing requirements as with IPOs
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