Letters to a Young VC: Letter Two
A collection of letters encompassing simple insights and recognition of foundational shifts that any bright minds trapped within the old norms of a VC mindset can use to break free, whether they are just starting their journey or reflecting back on what they wish someone had told them in their early days.
Letter Two in the Letters to a Young VC series is now live.
How do you spot a fake in culture, in tech, and in markets of all kinds?
A great place to start is corporate simpdom and the symptoms of central control.
Before the heavy spoilers ahead, let’s start with some tldr definitions:
What’s an NFT really?
Symbolic devices that spread instant culture. They are collectible, tradable, usable as access keys for group belonging, give exclusive entry to special places, events, or experiences, and represent your beliefs and status.
What’s web3 really?
Devices, practices, and protocols that deliver real solutions to the decentralisaton trilemma — across culture, capital, and tech.
Central control is the total domination of the means of production, economies of scale, and points of exchange by a few well positioned players at the expense of everyone else.
They use mass produced psychology to make us believe cultural knockoffs have meaningful economic value secured by technology beyond our reach or understanding. It is Orwellian doublespeak with a friendly face to make us believe up is down, bad is good, and fake is authentic.
Here’s the alpha: There are two ways of looking at the appeal of NFTs and web3.
Take the positive. The upside gain. NFTs as instant culture, collectible, tradable, usable as an access key for group belonging, exclusive entry to special places, events, or experiences, and rep for your beliefs and status…