Why it’s too early to get excited about Web3(oreilly.com)
oreilly.com
Why it’s too early to get excited about Web3
https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/
4 comments
The hype persist because there is money for the hype.
Basically the VC are all in, and now its time to "talk the book". Note that the VC raised a lot of money and need to find new tech to deploy.
I assume that if there was a web3 it would be much more grassroot efforts.
Basically the VC are all in, and now its time to "talk the book". Note that the VC raised a lot of money and need to find new tech to deploy.
I assume that if there was a web3 it would be much more grassroot efforts.
there is plenty of promising tech around. VC has lost all touch with aiming to add real value (if they ever had it)
I find this observation as the most hard-hitting:
> The failure to think through and build interfaces to existing legal and commercial mechanisms is in stark contrast to previous generations of the web
The gimmicky, "universe in a box", nature of web3 works great as a game, or maybe as a research tool but it is light years away from creating a gravity field strong enough to crush and remold millennia of trust relations, laws, paper contracts etc. all interlinked with actual (real life) economic activity.
The fact that the hype persists despite this (fairly obvious and debilitating) limitation suggests how unhinged the current environment, a result a period of extraordinarily easy money coupled with the FOMO effect attached to the trillion dollar valuations and power concentration of "big tech".
On the other hand, the palpable sense of anxiety in many industries indicates that we are certainly not done yet with digital disruption. Five years from now web3 will be joke, but there will be some new realities that will be anything but!