Good morning.
I hope everyone had a great holiday weekend. I did.
Back in September of last year, I wrote:
If I could work on/participate in just three areas over the next 20 years it would be Web 3.0, biking and golf and all three are in growth mode.
I have made one change to the title of the blog post as nine months have passed and added COMEDY.
While my industry argues about the definition of Web 3 and use cases, I have been dabbling with some personal capital trying to enjoy this ‘Web 3’.
I have NOT liked what I have seen or used for the most part.
When I think of the internet/world wide web I think of 8 to 80 companies/brands. Companies that have built products and brands leveraging the internet that appeal to the masses (8 to 80 year olds).
In 2006, we got YouTube, Facebook, Twitter and LinkedIn exploding out of the gates. We got AirBnB, Stripe, Shopify, Uber as well.
I don’t want to put any more pressure on Web 3, but so far I feel like there is nothing for me, let alone the 8 to 80 masses we need for true sensations.
The biggest problem Web 3 has is ‘expectations’.
Whatever the reasons – let’s just call it greed and good storytelling – Web 3 is not living up to expectations.
My job is not to argue with people on the internet about why, but to figure out the good and try to avoid the bad and the ugly.
For me, so far the good is community and NFT’s. I am not sure that either requires any venture capital let alone billions which is probably the reason for all the high tension arguments in my Twitter feeds.
I will have a lot more to say about community and NFT’s in the coming weeks which will hopefully gather some attention and excitement.
In the meantime, the bear market is in charge and that means valuation compression is real and keeping it simple to get to the other side.
Too many founders and investors are ignoring the bear market which is a luxury, and possibly a delusion, that I won’t indulge in.
