Kaihan Krippendorff provides insight into the rising valuations of tech stocks and attributed the rise of cryptocurrencies, and NFTs (non-fungible tokens).
It’s been a while since Saturday Night Live was a staple of Monday morning conversation, but this week as our team gathered around the Zoom screen to join our check-in call, the sketch comedy show was top of mind. I can’t imagine many missed it, or at least the news surrounding it, but last weekend’s episode featured special guest Elon Musk.
In his opening monologue, Musk commendably revealed for the first time his Asperger’s diagnosis, while poking fun at his unbelievable track record of innovation: “I reinvented electric cars and I’m sending people to Mars on a rocket ship. Did you think I was also going to be a chill, normal dude?” Musk joked about Dogecoin, a cryptocurrency which, along with NFTs (non-fungible tokens) and other blockchain-based value exchange systems, has taken over headlines recently.
Musk’s statements during the show around Dogecoin’s validity sent it into a downward spiral, while his follow-up statements that SpaceX would accept it as legitimate payment for a mission to the moon sent the cryptocurrency skyrocketing. At the same, his decision to halt acceptance of bitcoin for Tesla payments based on environmental factors caused the digital tokens to plummet.
These volatile reactions to Musk’s statements, brought about primarily by posts on Twitter and reactions in social networks, echo GameStop’s stock surge earlier this year. They demonstrate the power of communities, virtual and in-person, to self-organize around a common cause, whether it’s a well-loved retail videogame chain or a parody cryptocurrency that began as a meme.
All jokes aside, those who have been following the news this year around the valuation of cryptocurrencies and NFTs combined with blockchain technologies will recognize broader implications for how we conduct business and exchange goods in the future of our society.
Key points include:
- Volatile reactions to stock trading
- Power from coordination of resources or services
- The convergence of two strategic trends
Read the full article, Elon Musk, Dogecoin, And NFTs: Coordinating Without An Official Coordinator, on Kaihan.net.
Ryan Lechner shares an article on the current status of Blockchain, a look into Web3.0, and the future of a user-centric online society.
For the last year and a half, I’ve done my part to convert Web 3.0 from promise to reality. I’ve looked at hundreds of blockchain projects, spent countless hours evaluating the space, and helped ConsenSys build out various aspects of its business.
These past 18 months have been the greatest intellectual journey of my career. Every day was a Talmudic investigation into the foundations of the internet and the faulty structures underpinning our online lives. ConsenSys was a training ground, my Dojo, for building a new and fairer internet.
Despite the awesomeness of this adventure, I’ve decided to duck out for a little while. For anyone who follows the space, the reasons should be obvious and are likely not worth long form explanation: dApps lack adoption, blockchains are still janky, few use cases beyond ‘store of value’ are proven out, etc.
Points covered in this article include:
- Online networks
- Design markets
- Internet economies
Read the full article, I’m leaving Blockchain (for now.) Here’s what I’ve learned, on Medium.
In a world that has an abundance of aphorisms and rules for every occasion, Robbie Kellman Baxter suggests that the community of professionals think twice before following advice.
Other than maybe the golden rule, I am hard pressed to think of any saying that is always true. And that shouldn’t be surprising, as the answer to so many questions is “it depends.”
- “Should I let my daughter go to the late night party?” It depends…on your child’s age, maturity, and where the party is being held.
- “Should I quit this job right away or stick it out for a while?” It depends…on your other options.
- “Is a liberal arts education the best thing ever or a waste of money?” It depends… on what you want from your education.
And yet, people still spew out these aphorisms like they are universally true and unassailable.
Read the full article, Nobody Ever Said “I Wish I’d Spent More Time at Work” on Their Deathbed …and Other Lies, on LinkedIn.