Web 3, the metaverse, and NFTs are nonsense.

The metaverse's objectives are noble and appealing. Who wouldn't desire a user-owned internet? Who wouldn't want a world of digital possibilities? a more effective method to collaborate and see friends.

Companies relentlessly pursue profits. The CEO, board of directors, and any other executives will lose to the system of incentives that (1) keeps employees with shares and (2) makes a firm accountable to all of its shareholders since infinite growth and revenue are expected. Only the government can ensure user protections, but we are aware of its limitations. This is not a novel issue; rather, it is a problem of contemporary capitalism and NFT technological platforms that a user-owned internet might address. Thoughts on JRE aside, this podcast is worth listening to (it's about a bunch of other stuff too); Moxie, the founder of Signal, gives a solid articulation of some of these current Web 2 tech platform difficulties (although I forgot the timing).

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