Why the Crypto Winter Is Different From the Dot-com Crash

be radical Briefing | July 18th, 2022

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Dear Friend,

Earlier this week, we got full access to OpenAI’s DALL-E, the AI system that can create realistic images and art from a description in natural language. The results range from stunning to hilarious — it surely is a powerful glimpse into a world where AI-based systems will co-exist with human creativity. A friend asked us to generate a set of DALL-E images from prompts — not for him to use the actual image, but as stimulation for his art works.

And now, this…


Practical Futurism // Decode. Disrupt. Transform.

The implosion of pretty much the whole crypto space right this moment is often compared to the dot-com crash in 2000. Crypto believers like to reference to the implosion of crypto company after crypto company as the “crypto winter” — as to indicate that this is just a “phase” and spring is around the corner.

It is no secret that we, at be radical, have been skeptical about many of the claimed “revolutions” in the space for quite a while (NFTs anyone?!?) — but we also have a slightly different vantage point on the dot-com crash in 2000 than many of the pundits who are too young to have been around for the glorious “popping of the bubble”: We lived through it. And not just as a passive observer, but as the founders of companies which got swept up in the sudden deflation of the dot-com bubble.

And here is where the Internet in the year 2000 and today’s crypto world differs dramatically: During and after the dot-com crash, Internet usage didn’t shrink — it kept steady and then grew (exponentially). Crypto usage collapsed (and continues to do so).

That is all to say: I don’t think we have found the actual use-cases for crypto (if there are any). Time will tell… (via Pascal)


What We Are Reading

🧑‍💼 Build Learning into Your Employees’ Workflow Research suggests that an approach known as “learning in the flow of work” can help ensure that learners retain and apply new skills and concepts in their day-to-day workflows. Learn how your company can build programs that embrace this approach and encourage employees to learn not in the abstract, but directly in the flow of work. JaneRead

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💬 The Origin of Vibes Such a different and enjoyable read on the importance of understanding the words we use. Vibes and charisma representing alternatives to a more factual perspective. JulianRead

🎥 ‘Frankly it blew my mind’: how Tron changed cinema – and predicted the future of techThe movie is a masterpiece — in so many more ways than just as a cinematic marvel of its time. PascalRead


Tidbits

🤑 A fascinating account of the way crypto’s “pump & dump” works

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🌟 The ugly underbelly of customer reviews — 1-star extortion schemes

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Internet Finds

In the “ever wondered why” series, this week we present the humble roller coaster. Why, oh why, aren’t roller coaster loops NOT circular? 🎢


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Radically yours, take good care, friend!

— Pascal, Mafe and the three Js (Jane, Jeffrey, and Julian)


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