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Sep 6, 2023Liked by The blocmates Newsletter

"An interesting move by the MakerDAO team, but do we not already have enough native chains? L1s? L2s? Can the remaining devs not just work together to make a few decent products first?"

It feels like there needs to be a changing of the guard in the leadership within crypto. An industry that lived or died on basic infrastructure is fast maturing and what it really needs, as you pointed out, is something to run on that infrastructure.

I lived through the birth of online advertising and briefly worked in it in the days before the social networks and online content really took off. Back then we had glut of businesses all wanting to sell ads. That's it: Just sell ads. More and more "innovation" on doing the same banner ads and html urls. Not as many people wanted to make things that got more people online (and remember back then being or not being 'digital' was an actual decision you could make!).

That sea change took a shift in the businesses from base infrastructure to consumer facing app. From another Google inspired ad network to start-ups like Twitter, Facebook, Meetup, YouTube etc...

It's not like those things hadn't existed before, after all Geo-cities was huge. But the focus and energy wasn't behind them from the developer and funding side.

We're still funding blockchains in order to enable use cases we're still not seeing anything built for. We keep saying once we get this really fast and really cheap chain THEN it'll all come together.

But will it? Facebook was around many years, and went through a lot of iterations, before it was a "breakout hit".

Netflix almost went broke number of times on it's path to being a dominant force.

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I've got a strange feeling that the change of guards has already we happened, we just haven't realised it just yet as the content curators haven't cottoned on to it just yet.

As soon as mobile first becomes the industry standard we'll see a whole new avenue in web3 tech open up.

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