“I’m a big believer in Bill Joy’s Law of Startups, “success is inversely proportional to the amount of money you have”. For $2.5M we got Nvidia to working silicon that was revolutionary in two different respects. Right now, there is way too much money. If a system is to be decentralized, it has to have a low barrier to entry. If it has a low barrier to entry, competition will ensure it has low margins. Low margin businesses don’t attract venture capital. VCs are pouring money into cryptocurrency and “web3” companies. This money is not going to build systems with low barriers to entry and thus low margins. Thus the systems that will result from this flood of money will not be decentralized, no matter what the sales pitch says.”
From DSHR’s Blog: EE380 Talk (a talk on “blockchain” technology. Excellent food for thought.