The crypto mullet: web2 in the front, web3 in the back

In Web 3, companies achieve liquidity early via ‘tokenomics’ and other novel mechanisms to raise capital from users (often highly speculative in nature), and build the necessary technical infrastructure to create an alternative internet: decentralized servers, identity-management ‘wallets’, token exchanges allowing easy movement among various ecosy... See more

Similarly, web3 spent its first decade or so as a playground for researchers, coders, and degens. People bought drugs with crypto, too. Last year, corporates started dipping their toes by buying Bitcoin with their balance sheets. Over the past month or so, though, it really feels as if web2 companies are waking up to the fact that they need to figu... See more

This is the great exciting and invigorating puzzle today. How does a successful company leverage decentralized databases, their novel capital structure (token cap table), their different regulation, and fresh ways of acquiring users into a massive business?I don’t know yet, but I do know when it comes, we won’t call it a web3 company.