My ego doesn’t, but I generally find it very valuable.
This letter is honestly not thoughtful criticism.
It reads like a group of academics and specialists annoyed they were too early to profit from a technology they spent a lot of time thinking about esoterically and avoids specificity in…well… any meaningful way.
It also makes no effort to segment the space.
If a critical letter created by supposedly credible experts in a field can’t spare a paragraph to delineate between DeFi, NFTs, L1’s, smart contracts, stablecoins, and whatever else is bothering them then I think it’s fair to assume they don’t know the difference.
And if they don’t know the difference then why are we even reading this letter?
It’s a waste of our time (and theirs) to try and unpack what is pretty clearly frustration at the fact that the effective application of basic research is all that matters for adoption.
I think (at its core) everything crypto is a novel economic incentive layer wrapped in a technology package.
This creates the opportunity for blazingly fast user feedback loops and incentive alignment that wasn’t possible before (for better or worse).
Taken from that perspective, this letter misses basically everything interesting about the potential of Crypto.
So.
Read it. Form your own opinion. And move on with your day.
Gm everyone