Something I believe:
Crypto is successful if it helps more people participate in wealth creation / accumulation.
Most major accessible wealth is created in two categories: Real estate and equities. There is a whole HOST of real estate solutions around tokenized ownership that I'm sure will happen eventually.
The other that bothers me is equities. If you look today the average person has access to two "equity-like" investments: index funds and individual stocks. Index funds are great, but there is now a growing number of companies that are generating wealth rapidly for private investors that is completely inaccessible to the average investor.
Stripe and OpenAI are great examples of extreme wealth creation that were and are not available for the public to participate. I understand there are challenges of being a public company, but this continues to perpetuate wealth accumulation to the already privileged.
Ever smaller wealth creation examples like Cursor, Windsurf, or even Privy are not accessible to all.
Crypto gives you access to investing in "memecoins", and now we have Believe which lets you invest in early projects but 99.99% of all of these go to zero.
I am talking to a panel in August, where the pre-survey asked "what do you think about crypto" and most of the answers are "scam", "crypto bro", "FTX", "volatility", "gambling", etc. And these are from high-ranking financial executives in companies around the world!
We can't sit here as an industry and just do the same shit we've been up to expecting anything to change. Crypto has powerful capabilities, but we are still focused on short-term wins... and completely missing the forest from the trees.
Atleast AI bro's are ACTUALLY changing the world with powerful new tools. 8 replies
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