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

Not sure I like your premise. Ethereum and Bitcoin are also 100% commodity open source technology, and still somehow these „businesses“ manage to innovate.

Similarly, social media isn‘t sitting on a proprietary technology stack either. Anybody can build a Twitter clone, the technology isn‘t the hard part.

Founder /kiwi-news, a decentralized Hacker News

1. Eth and btc weren't vc backed startups and i don't consider either to be companies. 
2. What open-source codebase scales to 300m+ (twitter) and 2.5b+ (fb) users?
3. It's not just about being open-source, it's about being commoditized.
4. "The tech isn't the hard part" is exactly my point