zlacker

>>donsup+(OP)
The last few weeks (months, really) has highlighted an incredible lack of discernment in the VC-verse wrt the thing we call web3. Now. I have no experience doing what YC does and don’t claim to, but the jig here was so transparent that the smallest drop of “street smart” should’ve been enough to set off some alarms.

We’re approaching a point where being passed over for “culture fit” is a compliment. Hopefully the embarrassment is enough to expand the founder vetting checkboxes.

>>okwubo+x7
I think this is something like AI -- where people who are calling it "AI" are often sales people/hucksters (I mean this as little a pejorative sense as possible), and the people calling it "ML" are the practitioners/people you should be listening to.

Once a phrase gains mainstream adoption and starts to rapidly lose meaning, I find that people who care dearly about that thing start calling it something else.

That said -- I really struggle to find the people who are really all in on crypto in a technical sense. Where are the people building cool things and trying to push the boundaries with crypto? Surely it's still happening but just hard to find it in all the debris/trash.

>>hardwa+Nb
As someone who went heavy into crypto/web3, it does pain me to admit that there really are no use cases besides making money. Which isn’t a bad use case by itself, but after using practically hundreds of protocols and projects, there’s not a single one I’d use if there was no prospect of making money off of it. My dApp usage has cooled off almost completely. And all data shows that this is true for most others as well

>>puranj+rf
> As someone who went heavy into crypto/web3, it does pain me to admit that there really are no use cases besides making money.

In 2022, is there any money to be made there, other than:

1. Money that comes from 'less lucky' entrants in the various zero sum schemes?

2. Money that comes from selling shovels to the con artists running #1?

As a bystander, I'm not seeing any other ways that 'web3' is making money - and I'd argue that if it's just those two, then that's a pretty bad use case. I mean, it's good for the participants who are making money, but all that money comes from impoverishing others.

>>vkou+hi
There really isn't. I'm deep in the crypto hole and have a whole bunch of close friends in private telegram groups scouring for opportunities. And collectively, we've only been down outside of a few lucky plays and/or airdrops (like the BAYC $APE airdrop).

Which is precisely why you see dApp usage numbers crater. Check out OpenSea's daily volume on Dune.xyz as an example - down to $30M/day from consistent $150M/day even a month ago.