Web3 inverts the internet’s business models by giving more value and ownership to both creators and consumers. Traditionally, platforms developed online have been driven by advertising and subscriptions. This is because Web2 took a consumer first approach to platforms, protocols and applications with the platforms as intermediaries. Web3 puts value... See more

There is a subtle difference between profit and value, and by extension profit extraction and value creation. While it is entirely possible to extract profits in the short term, this is likely in direct conflict with long term success and value creation. I would even go as far as to say that being "for-profit" is a skeuomorphic mode of operation, a... See more

Protocols provide structure for businesses, but are not businesses themselves; they are systems of logic that coordinate exchange between suppliers (businesses) and consumers of a service. As coordinators of exchange, protocols should be minimally extractive, whereas businesses are incentivized to be maximally extractive (that’s profit, and a busin... See more