4,422 karma · joined September 17, 2013
Jeremy does an excellent job making the content approachable, but, if you want to go beyond being an excellent practicioner, you cannot skip the theory bits.
The only way to get a candid view into company culture is to have insider friends that can tell you what it's really like to work there.
Unfortunately, it's incredibly difficult to maintain a certain level of trust once an org gets over a certain size.
Some VCs were definitely better than others: the very worse was probably the All In Crew who were trying to spread a bank run to tie the government's hand. Truly despicable.
At the same time, I think a lot of the VCs who systematically talked shit about government regulations while trying to shill crypto as a solution should very publicly eat crow. I won't lie: it will give me a great deal of personal satisfaction, but, it will also make any "bailout" (or, whatever you want to call it ) a much easier lift politically.
You are dealing with a moving target that has a huge financial incentive. It's a very difficult problem.
He paid 44 billion dollars to be a mod - I hope he is getting his money's worth.
I would genuinely love to read an anthropologist dive into what causes social networks to take that turn. At its best, Twitter is full of smart nerdy people talking about science, mathematics, history, etc..
Clubhouse feels like LinkedIn, completely detached from resumes, so everyone wanted to post thinkpieces without being in any way tethered to their concrete achievements.
Every single time I read a similar story and I had first or second hand knowledge of how things actually played out, the role of the person telling the story was massively stretched out.
Per the second point, I actually completely disagree. I think there’s huge social dynamics in play that make it harder to move away from proof of work because miners have massive amounts invested into mining equipment. We might see Ethereum move to PoS eventually (maybe) - but - that will be in spite of social dynamics and because some of the leaders are stubbornly trying to do the right thing.
I would consider working in crypto to be the equivalent of working for Juul or a tobacco company. Not quite as evil as working for a company that provides spyware that's used against human rights activists, but, the rung above that.
Any new niche search engine will go through a small window of time where they have the luxury that none of the sites they are indexing are spending all their effort trying to reverse engineer your signals, and optimize against them. I'm incredibly skeptical that they can remain useful once people all the SEO efforts of various marketers start to be turned against them.
I really hope that this behaviour doesn't become any more normalized than it already has. Success is not worth anything, and, while some rules may be pointless, not every rule (and norm) is an obstacle you have to hack around on your way to success.
- it makes it easier to raise capital by claiming that what you are doing involves crypto, because then you get crypto-type valuations
- you can get money from people who want to speculate
I am especially interested in assessment about CO2 emissions from credible sources (please, no VCs with zero training in physical sciences posting thought leadership pieces, I beg you).
Further, I worry that crypto will grow massively. If that happens, all bets are off. In its current state, crypto consumes more energy than several large countries - imagine a world where that's 10x or 100x and we've still not moved off of proof of work. What's global warming going to look like?
I've worked in tech for a long time now, and I believe the stereotype about amoral techies is completely untrue - yet seeing the adoption of crypto among my peers is really depressing. I'm not sure how so many of my peers who would never ever work for a defense contractor or a vaping company are willing to work in crypto at this point. My objections are not ideological - if someone invented a cryptocurrency that was completely green and it would take over the market, I'd be totally in favor of it.
I would genuinely like someone to explain it to me, because, the kinds of essays I've read that try to argue that crypto is actually good for global warming are so shoddy that I can't believe people would take them seriously absent a huge dose of motivated reasoning.
For example - he made up a ridiculous story about being invited by the pope to attend a march in Philadelphia, which quickly got exposed as a lie. He was also completely unable to handle the local Roman political players / senior civil servants (who, granted, are hideously corrupt and have been running things for their own self dealings with left governments, center governments, far right governments, and 5 star governments (whatever they are)).
Bitcoin transactions require the solution of a completely useless and expensive to compute mathematical computation. THIS IS BY DESIGN, TO MAKE IT SCARCE.
In the short term, we are facing a critical shortage of computer chips because bitcoin miners are buying critical infrastructure and using them to do absolutely useless math to speculate on an obvious bubble.
In the long term, we absolutely need to solve global warming, and the only way we will do so is if we figure out a way to decouple carbon emissions from productivity on a global scale. Bitcoin makes this task much harder - by its very definition, bitcoin literally scales with energy consumption. Energy prices and bitcoin prices (plus fixed costs due to mining equipment) will always be in some sort of equilibrium. Second - we need those chips that are currently calculating completely useless hashes to actually be put to use in productive sectors.
IF your attitude is some variant of - fuck you, I don't care about the world, I just want to get rich profiting from this bubble - fine, I can't convince you to care about the rest of humanity. But please - be clear eyed about this: there is not a single credible global warming scholar that believes Bitcoin will help. Not one. The only people who try to push forward incredibly shoddy thinkpieces about how Bitcoin/NFTs will help global warming are obviously Bitcoin speculators or paid shills.
Sure, this is fine, but that's very different from requiring all their interactions to be public. Put it this this: how often do you ever hear anything insightful or intelligent in a public congressional/senate hearing? It's always politicians trying to ask really stupid gotcha questions that will make them look good to the audience at home.