The problems start when a first-principles analysis tells you something has the potential to be worth, say, 5, but your friends are investing like it were worth 100. Then you need some discipline to resist FOMO.
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Just because there's intense speculative interest around a piece of tech doesn't mean there's any value in it. But inversely, just because a field is full of scams and get-rich-quick schemes doesn't mean the tech is worthless. Only a first-principles analysis will tell you that.
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So true! Blockchain and AI are both victims to this.
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To the same degree? The promise of AI fall as short as the promise of blockchain? Blockchain is interesting to VCs *because* it's simple and its transformative power depends not only on tech. They truly believe it will transorm society. But will it? To the same level AI will?
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Worthlessness is a pretty good first order guess, though.
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