Oh, come on. The root problem is San Francisco going all-in on tech and finance at the expense of every other industry. We saw them all marched out of town: teachers, artists, police, fire, waiters, blacks, elderly, children, etc. Show me the money. The rest of you can take a hike to Sacramento. SF created a superfragile monoculture poised to collapse when the optimized context shifted. COVID, among other things, did just that. With no middle class left, it was just vacant techie offices, a dying servant class, and a takeover by the criminal class to rule what was abandoned.

Of course he's right. People have confused their pet obsessions with ownership and crypto with the broader web.

"web3" suggests a forklift upgrade like it's Windows XP, when in reality it's more like online investing added to the mix.

No wonder why most humanoids need convincing today that web3 even is worth their time. This wasn't a requirement with web2.