David Hoffmann

You mentioned Web3 gaming, the whole Web3 concept even of what, you know, like socials wrapped up in there.

Yeah.

We're...

Are we giving up on all that?

Or are we like growing up and just realizing that maybe crypto can't do all of the things we hoped, but it does do some of these things?

Like, are we giving up on the Web3 thing?

I think part of Web3 that made sense to me was the part that was around property and property rights and the part closer to kind of like money and ownership and everything tied in with kind of like finance fits that.

The part that made a lot less sense and never had heat around it was like the, we're going to take the internet thing, but we're going to make it decentralized.

And acting as if decentralization was like a feature, and it's not.

Decentralization is just anti-corruption technology.

And it is not a feature, right?

If you take that and you build sound money on top of it because you need anti-corruption technology, well, then you have a feature.

But the feature is like the sound money.

It's not decentralized.

Decentralization just gets in the way for a lot of things.

Yeah, and I think some aspects of crypto went in the wrong direction.

But I also agree with you.

I think in the fullness of time, a lot more will be uncovered.

So part of maybe... There is a version of Web3 social that works, and it's probably around more property rights-y type stuff.

But also it could be the case that the time is not now, and the time will be later.