brypto

A young person in the dot com era had to build something or be part of an enterprise to benefit from the tech paradigm shift (generally speaking)

A young person in the crypto era doesn't have to build anything, they can just bet correctly

This decoupling of money & meaning is a competitive moat for those who prioritize meaning

friendly neighborhood shitcaster // working on @pinetree

I would add though that those populations are not the same. People who weren’t into software in the dot com era were on the sidelines. In crypto they come in to fill some of that speculative role that used to just be professional investors, which actually incentivizes the builders, who I think will build anyway.

I think financialization is the snake that eats its own tail

Much like Boro is saying, this all began ~55 years ago (or really ~90 years ago), and has been a slow creep for a long time. We are now past the knee in the curve and it will only accelerate until it collapses IMO

https://farcaster.xyz/farcasteradmin.eth/0xe486728e

Yeah I pretty much agree with 2 also. My focus gets absolutely crushed it’s terrible. I think I’m hopeful that as time goes on the market will mature and people will learn that the best things to bet on will be the projects that have long-term visions. 

Although I also get the thought sometimes that really this casino activity was already going on “under the table” in the financial/investment sector and we are just bringing it to light and democratizing it. Better than it being professional and gatekept? Idk

Let's separate those two things:

1) Agreed, my point is not that the populations are static. But rather market access has greatly improved, increasing the # of retail speculators

2) How does it incentivize builders? It incentivizes casino builders for sure, but would argue that the excess speculative mania makes it harder for long-term oriented builders to focus. This sense is anecdotal, but many builders I've talked to have expressed that bear markets are welcome in some ways because of the "quiet" they bring