Is it a Ponzi? (Framework for evaluating crypto projects)

Yesss, this is what I've been looking for. People either tend to think that crypto is the savior of all things, or it's a scam that's ruining the planet. I imagine there's some middle ground but I haven't been able to find it. Maybe this will help 😀

Basically, every crypto project in existence is a "dying project." At the very least. Many of them also blatantly fall into the other categories (ponzi, tulip, etc).

What interests me most about this whole article is that the author points out that before the popularity of venture capital, most businesses started out as real sustainable businesses and slowly grew from there. Now they don't have to wait. "They can burn a few billion dollars to skip the boring slow period, then figure out how to become a real sustainable business later."

Uber is an oft cited example of a dying project (which the author points out as well). Getting an uber is more expensive now because they've stopped being subsidized by VC money. It's been argued that the only reason Uber was able to displace taxis at all is because they were burning money to fuel their unsustainable growth. Seems like taxis are starting to make a come back now that the money has run out.

Honestly, I'm grossed out by this way of doing business. And because I can't name a single crypto project that doesn't feel like it falls into this category, I'm grossed out by crypto. 🤮

Never heard of "Tulip" before. Actually, I hadn't really heard of any of this. Really helpful - thanks for posting!