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100 sats \ 2 replies \ @k00b OP 4h \ parent \ on: Marc Andreessen as Avatar for Societal Decay culture
What bitcoin fixed for me was saving my money. I no longer have to be an investor to store my past effort. I suspect bitcoin will dry up the pool of LPs funding these guys.
Also most of this stuff is funded by low interest debt which bitcoin should destroy as some nth degree consequence.
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100 sats \ 1 reply \ @optimism 3h
So you're saying VCs will be obsolete because money will be at rest?
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100 sats \ 0 replies \ @k00b OP 3h
I know it's obvious, but what bitcoin fixes is not really my thing. That said, I don't think they'll be obsolete. I think there will be fewer of them seeking upside uncaringly. It's hard to explain why you're funding scams for a 20% return when you could have bought bitcoin. When there's no upside to compromising your morals, you won't.
imo changing base incentives is going to change all kinds of shit. Bitcoin is not a butterfly flapping its wings causing a tsunami. Bitcoin is a tsunami causing every butterfly to flap its wings and whatever else. VCs (and the financial class) are pretty close to this tsunami so the industry will probably change a lot.
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