2 min read

We're still early

We're still early

Today when I scrolled through twitter I encountered this tweet that got me thinking on two levels.

Firstly, Gutenberg knew how important his innovation was and wasn't afraid to go full in on that idea.

Secondly, an observation made by Greg is absolutely on point.

Dot com bubble in 90s

I always compared the Blockchain and Cryptocurrencies industry to the  dot com bubble from the 90s. Back then, there was a boom for WWW websites. Everyone wanted to have one, and investors didn't want to miss any new potential big startup. Money was flowing in on a massive scale. Websites regarding cats and dogs gathered millions of dollar in investments.

I don't need to mention these types of websites didn't survive long and were obliterated by bubble burst. The ones that survived are currently tech giants we all know, like Google, Amazon, PayPal, Ebay and many more rose after that.

If you don't see any similarities between that time and current landscape of blockchain development, let me just remind you about ICOs and now DeFi applications.

Everybody had an ICO on some shitty idea that their coin will "save/change the world". Projects from that time, that took their time and invested money into the projects are known on the top of DeFi ecosystem, like Aave, for example. Rest, like those cats and dogs websites, were obliterated by ICO bubble burst.

Similar story with DeFi applications. We didn't had maybe much of a bubble burst but a bear market, where all crypto prices plummeted to the ground. That caused many of the "innovative" DeFi projects, simply forks of others, already established projects, to be un-relevant.

One thing is for sure, as Greg has said, building on Web3/Crypto today feels the same as when Gutenberg launched his machine while 96% of the world couldn't read.

I can only imagine, developers from the dot com bubble, after everything crashed, didn't need to worry about finding a job or creating something new. They joined companies that survived or kept building and came up with new, excellent products.

The same is happening with current developers building on Web3. Don't get discouraged, keep building, and when the time is right, all the work will pay off.


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