> web3 is dead, and now that we've had the super bowl ads phase of the hype cycle, there just isn't another wave of greater fools coming to pump up prices and end the crypto winter.
This explains the mania that used to be present on forums like this one about two years ago, billions (and tens of billions) of dollars were on the line if the people involved had managed to pull it off (i.e. to find even greater fouls).
Another relevant tweet from the same thread:
> a16z was early and all-in on crypto. Their first $300m crypto fund, invested at the start of the bubble, was reported to have generated eye-popping returns, which they parlayed into raising and investing $7B+ more in crypto funds in a giant double-or-nothing bet
This explains the mania that used to be present on forums like this one about two years ago, billions (and tens of billions) of dollars were on the line if the people involved had managed to pull it off (i.e. to find even greater fouls).
Another relevant tweet from the same thread:
> a16z was early and all-in on crypto. Their first $300m crypto fund, invested at the start of the bubble, was reported to have generated eye-popping returns, which they parlayed into raising and investing $7B+ more in crypto funds in a giant double-or-nothing bet