Today a16z published their 2022 State of Crypto Report. For such an intelligent and successful firm, they really seem to be struggling with the basic task of presenting logically-coherent evidence to support their claims. In this post I’ll just focus on a couple slides, 39 and 40, because I think…

Exclusive access to hot deals, discovering founders, picking winners, and indexing the category — If you want to make a good return (20%/yr+) by angel investing in early-stage startups, these are the four strategies that I see working today: Exclusive access to hot deals Discovering founders Picking winners Indexing the category I’m an investor in over a dozen startup funds including Shrug, Haystack, Susa…

I’m repeatedly struggling to understand how Balaji thinks blockchain technology adds value to internet-enabled use cases — I’ve recently been debating with @balajis on Twitter about his various ideas for blockchain use cases. I’m posting a lightly-edited transcript here because I think it’s an interesting record of two opposing viewpoints circa 2021. Balaji is an amazing Twitter account to follow, a regular source of smart and fresh…

Credit to the incomparably hilarious Don’t Hug Me I’m Scared — A few years ago I watched a hilarious Don’t Hug Me I’m Scared video about a surreal “digital world”, a creepy nonsensical version of the internet. Then it hit me why the surreal world of crypto, blockchain, and “Web3” is strangely familiar… it’s the Digital World coming to life. Complete with NFTs as digital style! If you liked this parody video, check out my other Web3 posts:

Role-playing as a visionary when you don’t have a coherent vision — I’m not inspired by Web3’s vision because the end state that it’s supposedly aiming for — regardless of whether the technology to get there makes sense, and whether the various execution challenges are feasible — is super vague. In my previous posts, I focused on analyzing Web3’s value prop to…

Cryptocurrencies are useful because millions of people want to make transactions that their governments want to prevent — Welcome to the latest installment of my quest to try to put my finger on a web3 value prop. Today we’ll be exploring whether cryptocurrencies like Bitcoin might plausibly have any good value props. If you’re just joining, you may want to catch up on my previous posts: Chris Dixon’s…

Today I came across yet another article criticizing a company for being “exploitative”, whose criticism amounted to not liking the fact that its pricing was calibrated to the market. …

The ability for applications to read and write their data to the blockchain will be inconsequential — When you ask people what Web3’s biggest value props are, a common answer is sharing interoperable data across applications. Here’s what a typical explanation looks like: Chris claims that shared data like “usernames, social graphs and posts” are an important reason why Web3 apps will differentiate from…

Yesterday’s web3-themed episode of Tim Ferriss’s Podcast didn’t provide the one thing I was hoping for — I just listened to the October 28, 2021 episode of the Tim Ferriss Show podcast, titled Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs…