This is a great talk from Laura that clearly explains what web3 actually is. It pairs nicely with Molly White’s wb3 is going just great (speaking of which, Casey Newton interviewed Molly White about the site recently).
If you’re interested in so-called web3, you should definitely follow Molly White.
How long can it possibly be “early days”? How long do we need to wait before someone comes up with an actual application of blockchain technologies that isn’t a transparent attempt to retroactively justify a technology that is inefficient in every sense of the word? How much pollution must we justify pumping into our atmosphere while we wait to get out of the “early days” of proof-of-work blockchains? How many people must be scammed for all they’re worth while technologists talk about just beginning to think about building safeguards into their platforms? How long must the laymen, who are so eagerly hustled into blockchain-based projects that promise to make them millionaires, be scolded as though it is their fault when they are scammed as if they should be capable of auditing smart contracts themselves?
The more you think about it, the more “it’s early days!” begins to sound like the desperate protestations of people with too much money sunk into a pyramid scheme, hoping they can bag a few more suckers and get out with their cash before the whole thing comes crashing down.
A very even-handed and level-headed assessment by Laurie, who has far more patience than me when it comes to this shit.
The term “web3” is a transparent attempt to associate technologies diametrically opposed to the web with its success; an effort to launder the reputation of systems that have most effectively served as vehicles for money laundering, fraud, and the acceleration of ransomware using the good name of a system that I help maintain.
Perhaps this play to appropriate the value of the web is what it smells like: a desperate move by bag-holders to lure in a new tranche of suckers, allowing them to clear speculative positions. Or perhaps it’s honest confusion. Technically speaking, whatever it is, it isn’t the web or any iteration of it.
Web3 is like a combination of pyramid schemes, scientology and Tamagotchi. There’s the fact that ultimately anything you do on blockchains costs you real money and that once you’ve paid that, you’re one of the people who need to get the next cohort of buyers onboard or lose your money. There’s believing that you’re joining a movement that’s in the know, with all kinds of interesting words and sci-fi stuff that normies just don’t understand. And there’s your portfolio, your pretty JPGs, wallets, apps and everything you spent so much time on understanding and maintaining. Good luck avoiding sunk cost fallacy there.
I think Web3 is propelled by exhaustion as much as by excitement. This isn’t apparent on the surface, but I believe it’s there, lurking just below. If you’re 22 years old, Twitter has been around for about as long as you’ve known how to read. YouTube is fixed as firmly as the stars. I honestly don’t know how that feels, but I wonder if it’s claustrophobic?
There are so many astute and accurate observations in Robin’s piece that I kind of want to quote them all.
Web3 promises rewards — maybe even a kind of justice — for “users”, but Ethereum doesn’t know anything about users, only wallets. One user can control many wallets; one bot can control many wallets; Ethereum can’t tell the difference, doesn’t particularly care. Therefore, Web3’s governance tools are appropriate for decision-making processes that approximate those of an LLC, but not for anything truly democratic, which is to say, anything that respects the uniform, unearned — unearned!—value of personhood.
Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere. Fuck cryptocurrency.
Accidental colour palettes captured in the wild.
This is a fascinating story of psychological manipulation and internal politics. It leaves me feeling queasy about the amount of power wielded by individuals in one single organisation.
A spot-on description of how targetted advertising works …or rather, how it doesn’t.
They are still trying to sell me car insurance for my subway ride.
A fellow URL fetishest!
I love me a well-designed URL scheme—here’s four interesting approaches.
URLs are consumed by machines, but they should be designed for humans. If your URL thinking stops at “uniquely identifies a page” and “good for SEO”, you’re missing out.
Buy a one square foot piece of land (and the Brooklyn Bridge while you're at it). Cute Kerry hoors.