Web3 is full of ideas. It’s a world built on vision, ideology, personalities, and hype. A world of projects. And over time, that becomes a problem. Because it doesn’t move Web3 forward. It doesn’t create real value. And it doesn’t offer any meaningful advantage over traditional businesses. In many cases — it does the opposite. Instead of creating new value, Web3 often ends up copying what already exists in traditional markets. That’s not progress. That’s stagnation...

Over the last 15 years working as an operator, I’ve seen many different kinds of projects. Some succeeded. Some didn’t. Some had great products, others didn’t. Some teams kept moving forward, while others eventually collapsed. For the past six years I’ve been working inside the Web3 ecosystem, and one pattern keeps repeating itself. The reasons for failure are always complex. Markets shift, teams break, funding dries up. But there is one factor that appears far more often than people like to ...