Journal May 17th, 2022

  • Read Google All Set To Launch ‘Advanced Web Apps Fund #
  • Read https://twitter.com/a16z/thread/1526524210927083520 "State of Crypto" #
    • Introducing the 2022 State of Crypto Report - a16z crypto #
      • This article overall does a poor job of "The State of Crypto" - it should read "The state of a16z's investments in Crypto". The full summary is here is more interesting. #
    • Wrt to "Crypto" I just still don't know where I am in this space. #
      • Do I like the idea of a globally distributed database, authentication, payments, etc. Yes. #
      • Do I like or even understand the million different coins and NFT projects. No. #
    • “price-innovation” cycle. #
      • 2020 - https://a16z.com/2020/05/15/the-crypto-price-innovation-cycle/ #
      • I thought this was a made up term, but then went down a rabbit hole on Google Scholar #
      • There's mixed terminology being used imo. #
        • A16Z if focusing on an increasing price driving an innovation cycle. Hype. #
        • Many papers are referring price being a key driver of customer acquisition and companies "innovate" in price space and manage strategies around that. Additionally, lower prices mean there needs to be lower costs. #
        • I personally don't think the term "price innovation" in both senses makes sense. I feel like A16Z is trying to force a term to be used to replace the term "Hype". That's not to say that things don't great created an innovation is not happening though #
      • I've spoken to a number of founders and VP's at crypto related companies who have said similar things, however the framing that I hear is that there is too much hype driven by the current prices, when there is a crash/reset there is a nice quiet period where people who have ideas stick with it. #
    • "Founders who swore off tech and the internet in the aftermath of the dotcom crash missed the best opportunities of the decade: cloud computing, social networks, online video streaming, smartphones… Now is the time to consider what the equivalent successes will be in web3." #
      • Feels kinda optimistic. #
    • "NFT" #
      • "The take-rates of web3 platforms offer fairer economic terms." #
        • It feels like arbritage right now. The creators who are first, fare best. #
        • Comparison to Twitter, FB, YT seems odd. Free service vs ... FB and Twitter never have said they will monetize you. #
      • The numbers here are just bizarre. I don't believe you can trust any of the numbers in this part of the report. It's comparing actual $ payments from services with services that are not back by $. #
        • 22,000 creators vs millions on other platforms, and then using averages to present this as the state. Play with the same numbers please. #
        • The creator number is off as well, it's caveated as the number of ERC-721 and ERC-1155 tokens.... I mean, that's not a creator, that's like saying each YT video is a creator. Right? #
      • "Take rate" 30% vs 2.5%, but it's not accounting for transaction fee's that are provided by the platforms either, nor creator fees. #
      • I wish it talked more about memberships. #
    • "We estimate there are somewhere between 7M and 50M active Ethereum users today. (Compared to the internet, that puts us somewhere around the year 1995.)" #
      • At least an order of magnitude difference... and it puts it towards "1991" on the lower bound. #
  • We had an internal team session about screenrecording #
  • GitHub - myeveryheart/squoosh-browser: An image compression tool run in browser while @squoosh/lib can not. #
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About Me: Paul Kinlan

I lead the Chrome Developer Relations team at Google.

We want people to have the best experience possible on the web without having to install a native app or produce content in a walled garden.

Our team tries to make it easier for developers to build on the web by supporting every Chrome release, creating great content to support developers on web.dev, contributing to MDN, helping to improve browser compatibility, and some of the best developer tools like Lighthouse, Workbox, Squoosh to name just a few.