This is disappointing.
YC needs a fresh perspective. Recycling older members is not a positive sign for continued innovation. I wouldn’t point to “HODL diamond hands” crypto hype (suddenly disappeared..) and personal brand-building content creation as the type of leadership YC needs at this stage.
Specifically in this, someone who has been running a large VC fund for the past half-decade with considerable inside deal access through YC. The conflicts of interest are sizable, and we can’t really pretend that they won’t compound now that Garry’s at the head of YC.
Lastly, to balance flood of positive reviews, there have been consistent (if quiet, again, small world) reports of pettiness and using power/influence against personal grudges. I have not worked with Garry directly, founder friends have and back channels are..not same as the public comments here. Everyone has weaknesses. This isn’t a good one for the position.
This is my biggest worry. I'd have preferred a non-crypto-junkie.
This is Gary saying that ETH will go up to $10k soon: https://twitter.com/garrytan/status/1402648829732614146
It went to $1k instead.
At times, following Gary on Twitter felt like following a dumb crypto bro.
Everyone looks like a genius during a bull market and 0% interest rate environment.
Well actually,
1. He didn't say it will go up to $10k "soon." That video is talking about long-term performance.
2. ETH is down just ~~27%~~ 41% since that video, and has moved farther up than down.
3. It's only been a year since the video, which is talking about The Merge as one of the factors behind this belief, and The Merge hasn't happened yet.
4. Quote from the video: "It's not really gonna be that smooth a ride to $10000."
I remember reading his LinkedIn post on this $10k topic. In it, I think he said something along the lines of "soon".
But it really doesn't matter. Saying $10k ETH is the same as a random crypto bro saying $100k BTC soon. There are no fundamentals. Just shilling. Marketing. Ponzi-like behavior.
I don't doubt that ETH might go up to $10k eventually, given enough time. After all, crypto is basically trading with Nasdaq nowadays.
>2. ETH is down just 27% since that video, and has moved farther up than down.
Down 40.97%
>3. It's only been a year since the video, which is talking about The Merge as one of the factors behind this belief, and The Merge hasn't happened yet.
He said the biggest factor is that ETH is deflationary: https://youtu.be/jo58qEoThSs?t=381
He suggests that this makes ETH "ultra sound money".
I'm not going to argue for or against this idea.
>4. Quote from the video: "It's not really gonna be that smooth a ride to $10000."
Sure. Anyone who's been in crypto long enough knows crypto isn't a smooth ride. It doesn't say anything.
Ok, I can't find his LinkedIn post on $10k ETH anymore. Maybe he deleted.
But I distinctly remember wording around "soon".