@tldr

On “builders pivoting to AI” The value prop of crypto to non-ideological builders was mostly that you could take a business 1000x, rapidly. Like within a year or two. However, given the culture and dynamics, it was always hard to do so this also adding genuine value to people and society. Corollary — you had to deal with many, many Con Men of various sorts. With AI right now, you get the best of both worlds — there is an ability to grow something quickly *and* to provide an extreme value to all kinds of people. So it’s not that crypto itself is doing anything wrong relative to what it had been doing, it’s just that AI has become much more compelling for builders. These things can rotate back, but I personally think it will take awhile. (Government censorship of AI could actually be helpful for that — since it may allow crypto to become a kind of haven for AI builders) In the meantime, the ideological part of crypto is probably the part most worth staying for. I continue to think it’s very cool, especially for forming different kinds of trans-political cooperations and even institutions.

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