Tags: dotcom

Bitcoin Is Ridiculous. Blockchain Is Dangerous: Paul Ford - Bloomberg

An astoundingly great piece of writing from Paul Ford, comparing the dot-com bubble and the current blockchain bubble. This resonates so hard:

I knew I was supposed to have an opinion on how the web and the capital markets interacted, but I just wanted to write stuff and put it online. Or to talk about web standards—those documents, crafted by committees at the World Wide Web consortium, that defined the contract between a web browser and a web server, outlining how HTML would work. These standards didn’t define just software, but also culture; this was the raw material of human interaction.

And, damn, if this isn’t the best description the post-bubble web:

Heat and light returned. And bit by bit, the software industry insinuated itself into every aspect of global enterprise. Mobile happened, social networks exploded, jobs returned, and coding schools popped up to convert humans into programmers and feed them to the champing maw of commerce. The abstractions I loved became industries.

Oof! That isn’t even the final gut punch. This is:

Here’s what I finally figured out, 25 years in: What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets.

Megnut – I’ve been thinking a lot

Sixteen years on, this still rings true.

I realized there are dot-com people and there are web people. Dot-com people work for start-ups injected with large Silicon Valley coin, they have options, they talk options, they dream options. They have IPOs. They’re richer after four months of “web” work than many web people who’ve been doing it since the beginning. They don’t have personal sites. They don’t want personal sites. They don’t get personal sites. They don’t get personal. Web people can tell you the first site they ever saw, they can tell you the moment they knew: This, This Is It, I Will Do This. And they pour themselves into the web, with stories, with designs, with pictures.