In the last month, my twitter feed has experienced an epic takeover of tweets around web3, DAOs, and the metaverse. Many enterprise investors who were all in on dev tooling just weeks ago are now fully in the “crypto rabbit hole.”
And here is why it’s different now versus 5 years ago…
This past week, the Network Solutions of Ethereum addresses just did an airdrop of tokens (award free tokens to early users/contributors) and created quite a buzz. As for myself, I bought my own ENS address just weeks ago and was airdropped $11k which is now worth about $15k. You can find me at edsim.eth
While everything in infrastructure land won’t be turned into a coop or DAO, it is something important to pay attention to because I truly do believe what can be Web3-ed will be.
Example - Discord
Ryan Brown 📼🎮 @ToadsanimeDiscord is pausing its NFT plans after a huge backlash, which included a wave of users cancelling paid subs. I was told the server made of Discord staff & big game studio reps erupted over this, with many threats to take communities elsewhere. Hard to progress facing that. https://t.co/WP6hkyZsXD
But Josh Elman brings up a great point…
We went down this 🐰 hole back in 2017 looking for a there there at the intersection of crypto and enterprise. So we started an enterprise blockchain accelerator with IBM (creators of Hyperledger blockchain) and Comcast (investing in the future).
And after meeting over 1500 “enterprise” blockchain companies, we (cofounded with Rob Bailey, Eliot Durbin and myself) were fortunate enough to invest in infrastructure and analytic cos like Blockdaemon, Fireblocks, and Amber Data. What we concluded was as much as supply chain and couponing and other use cases sounded super cool and relevant, databases for the most part worked just fine. In addition, IBM and hyperledger fabric blockchain is pretty much dead - no one wanted to take part in a company led revolution versus one led by the people. Ultimately, the real killer app we discovered back in 2017 is digital money and hence blockdaemon (now the largest independent node operator and staking platform), Fireblocks (leading digital asset and custody software), and Amber Data (cryptocurrency APIs to run your business) all in the portfolio. This next wave with DAOs and NFTs is going to be quite exciting so if you’re building anything infrastructure related (auth, security, privacy, off chain stuff), I’d love to chat.
As always, 🙏🏼 for reading and please share with your friends and colleagues.
💯 but sequencing mattersGo slow until you have a great product. Then go fast. The economic efficiency gains from a great product compound everywhere. If you go fast too early, you will fail. Once you have nailed product, go so fast that it scares everyone. If you don’t go fast enough, you will fail.
Just ship it
AWS moving up the stack to app layer - they are busy, for sure, getting ready to put a M&A machine in motion - will need to buy their way into this IMHO
“Mr. Selipsky said Amazon Web Services plans to maintain its lead by offering more applications that can help organizations take advantage of the cloud. For example, it has developed a cloud tool that uses artificial intelligence to digitize and categorize physical documents, and another that monitors the health of the expensive equipment used in the agriculture and energy industries.
“ We’re still probably not close to where customers need us to be at the end of the day,” said Mr. Selipsky, who became chief executive of Amazon Web Services, or AWS, in May. “We need to build a lot of services. We need to build a lot of capabilities.”
The modern data stack according to Battery Ventures
Why this revolution is different
and sounds a lot like #OSS culture to me…
Yes, not enterprise but 🥫 for 🤔 🧵
The bull case for Confluent 🧵