Tech plays better with regulation? Tech workers tended to still come from relatively good backgrounds, colleges, etc. and are already in the right circles?
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An interesting question would be, if you compare the social class of 2001 tech bubble workers, to 2010-ish big tech workers, to web3. Is web3 more representative, less skewed high-class fancy-college-educated, than tech?
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Anecdotally I feel like web3 pulls from a broader segment of the population than tech. The entry costs feel lower: being a programmer in the US still basically requires a college education for most. Whereas you can learn shitcoin pumping on Google fairly well
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The low entry costs is one of my favorite things about web3. IMO it's what a meritocratic society should look like, everyone has the same basic set of tools, the hardest working and most resourceful win out. Think this is behind much of the rapid innovation in the space
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Anyways, so this leads to a very controversial hypothesis, which I state half-jokingly:
The deep-sated emotional dislike of certain segments of "educated society" towards web3 stems partially from class consciousness
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Web3, unlike the prior tech booms, pulls more people from the "unsavory classes". Web3 culture, norms, rules of the game, are shaped by the culture of the "unsavory classes" in a fairly salient way. Certain levels of "scamminess" are taken as given and acceptable and normal.
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"Fake it till you make it" is prevalent. Credentials mean nothing, are made up, and the fact that they're made up is largely ignored. People lie, scam, "rug", and to some extent there is a kind of respect for those able to pull off a sufficiently big rug
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There is a kind of "used car salesman/real estate investor/realtor" vibe permeating web3.
There's nothing "wrong" per se with this culture. Different segments of the world work in different ways. But this culture is very alien to those who grew up in high society
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High society is somewhat conscious of these cultural features of web3. High society is emotionally repulsed by these features. Not really based on the fact that they are not effective. Rather, that they characterize parts of the world that high society considered beneath them
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So the disgust of high society with web3 stems partially, not from the technological features of web3, but the fact that web3 is polluted with "low-class business culture", to which high society has a deeply negative reaction to
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Replying to
It’s not high society, it’s bourgeois types trying to get into high society
Replying to
Yeah, probably more accurate, I use "high society" to mean what you call the bourgeois class, I think

