There are broadly two categories of venture-investable businesses:

1) products that enhance productivity in the world

2) products that provide entertainment

One challenge in crypto is that many people have focused on the entertainment side but far less have built with the true intent of increasing productivity 

An orientation around productivity is more robust long term. It's one of the reasons stablecoin excitement has grown each year: stables provide many ways to create more productive systems

Investing @variant, writing at https://backoftheenvelope.substack.com/