p2p file sharing saw Snapchat level growth. Excluding speculation, cryptocurrencies hasn't. Why? Decentralization lets us flirt w/ boundary of the law & expose market inefficiency. Music market was really distorted (https://twitter.com/backus/status/1014664705544089601 …). Thanks to VC, payment tech wasn'thttps://twitter.com/backus/status/1023073629582450688 …
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Music/movie market was distorted in industry favor by 1999. File sharing corrected that VC subsidized payments like Venmo existing before Bitcoin isn't just like if streaming existed before Napster. More like if Spotify/Netflix were free or $1/year via VC-fueled race for growth
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This is a fascinating point. It was a confluence of factors (beyond the control of technologists) that fueled p2p file sharing. Sub optimal music product + legal enforcement + absence of good alternatives.
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Boy o boy, I loved Kazaa!
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