Criticisms of crypto (and gleeful pointing to failed/hacked projects) are irritating to me.
In the lead up to the dotcom bubble there was a website called fuckedcompany.com, which gleefully pointed out all the failed+scammy dotcoms. It eventually got turned into a book.
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The problem is that there is less than 100 people on this planet that understand maths behind cryptography enough to create a valueable product and I’d hedged a bet less then a what I count on my hands are the number of those who understand what product market fit is.
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It’s not the folks who understand the math who created the last round of companies that survived the dotcom rout.
Not sure why this time would be any different?
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the average person could spin up a website in the early 2000s and have a material difference from other sites.
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It's similar, no? You don't need an understanding of math to build in web3/crypto today. Programming in solidity or in one of the L2 languages e.g. Cairo feels similar to the early days of webdev. Totally raw and ugly.
Not similar if you take a first principals approach to understanding the problem cryptography solves. Web Cryptography is more analogous with email then it is with website tech. So betting which company will prevail is tricky.