Folks tend not to answer this question because they know it's not a good one.
Let's take bitpay, probably the largest and oldest merchant processing system for crypto transactions. They publish stats. [1]
- 40% of all of their transactions globally are for prepaid gift cards.
- 20% of all of their transactions globally are for "internet."
- 14% of all of their transactions globally are for "vpn."
So 75% of all of their transactions globally are for merchant categories closely associated with fraud. And the reason is obvious: it's slower, more expensive and less convenient than using a credit or debit card. So it self-selects.
Folks who "find a way to make it work" are usually ideological, in crypto (i.e. found other people who don't care that it's impractical or criminal) or have otherwise found ways of "processing crypto transactions" (i.e. using bitpay where the merchants do not receive crypto because of course they don't why would they).
As a Com Truise fan myself, I enjoyed learning that Brian commissioned him for the ad. Com’s slow motion funk fit in perfectly with the minimalist DVD screensaver motif.
“The best way to fix the system is to prioritize websites that are there to share knowledge, not websites with their primary priority to make ad revenue.”
The best way to fix the system is to prioritize the best content irrespective of monetization strategy.
Search engines should not penalize websites trying to make money.
They should penalize spammy websites that add little value but know how to game the system.
The degree to which the creator monetizes their content should bear little weight with a search engine that is trying to serve the best content.
YC funds software companies disrupting large markets. Software has high margins. Large markets are easy to intuit. Therefore business plans aren’t as necessary as opposed to other types of investors eg private equity.
I have been looking for an objective, skeptical evaluation of web3 and this delivers. Despite all of the discussion around decentralization, market forces like network effects, switching costs, and winner-take-all will likely occur and with it some degree of centralization.
