Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
They're not sitting there thinking, I see a problem.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
And I am going to see if I can solve that problem using some new tools, right?
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
And so without insight, you don't build anything very valuable.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
And so I understand there are reasons for doing that, but unless there is somebody, and it can happen if you have a very engaged, really creative founder or founders who are still
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
have insight about a particular market that they're going after, but generally it's a failure.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
So that's why I don't have a lot of confidence that this will lead to much.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
Though I agree with your conclusion that without the apps, the layer ones don't really have a purpose, right?
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
Because at the end of the day, you know, if you have a
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
the Apple App Store, but no one building apps, then it's going to be empty.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
No one's going to care.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
I would say that the insight there was people looking at companies coming to them, asking them, Hey, you know, do you have any colo space we could use or whatever?
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
There was a, was a kernel of an external demand.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
This latent demand that somebody miraculously did see, right?
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
But the notion of co-location and virtualized servers, I mean, that was pretty well understood, right?
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
Yes, yes.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
But still, I would give Amazon as an entity credit, notwithstanding the fact that it was all built on open source software, you know, Apache.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
Yeah.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
Red Hat did most of their work.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
But if we look at like a Google, my God, they took the idea of monetizing search from goto.com.
Web3 with Sam Kamani
371: What Founders Still Get Wrong in Crypto with Guest speaker William Quigley from WAX + Tether
They bought or they acquired the Android operating system.