in the old model, FAANG companies required thousands of employees and managers to operate
the nostr model inherits SO much value from the protocol+bitcoin that what used to be massive corporations can be run as a side-project for a handful of motivated individuals
#[0]'s thesis is playing out in front of our eyes faster than we thought was possible
I’m new here. How does nostr integrate with the bitcoin network?
they are different aspects of the same thing: freedom
if you are talking about how it technically integrates: NIP-57 - https://nips.be/57
if you are talking about how it integrates from an infrastructure standpoint: economically; nostr can't exist without bitcoin
In nostr, are all DMs encrypted by default and enforced by the protocol, or is encryption of DMs optional?
Required is not the right word Pablo.
The Silicon Valley VC model is about ploughing capital in to emergent spaces in the hope that you back one of the 1/2/3 companies that will dominate the space rather than get eaten.
These startups are given exorbitant amounts of money with no expectation of profits, just growth metrics. Grow the userbase now, work out monetisation later.
So long as they hit the growth metrics, the previous round of investors help you go milk the next round - after all, it’s increasing the book value of their investment… Sounds like a Ponzi scheme, right?
And what the hell do you do with that money? You pay for ridiculous offices, provide insane perks to attract talent away from MS/Google etc and sooner rather than later you need a middle management bureaucracy to oversee the early productive team members. That’s the beginning of the end.
“The bureaucracy is expanding to meet the needs of the expanding bureaucracy.” - Oscar Wilde
A tale as old as time. Productivity in aggregate decreases with every marginal labour unit added, it’s not “required” rather its just what happens at a certain size but the investors don’t care because their goals are completely untethered from reality.
They’re not in it for a marginal return on a solid business, they’re in it for moonshots that go 100-1000X and literally gamble on entire industries like fucking degenerates.
Nostr is going to be the end of this model!
I certainly hope this vision comes true. We will see, since they (VCs) are already engaged with a few already.
I’m most concerned that so many of the early builders are working exclusively on nostr tech with a negative personal cash flow.
That is not sustainable for long for the younger members with families.
I’ve put up 15M Sats for the Lightning Polls bounty and a few others have put up their own - this is good for this very early stage of nostr but also not sustainable for growth.
#[5]‘s https://nostrocket.org/ is an interesting concept but I’ve seen practically no talk about it since it was announced.
There are a lot of options for how nostr companies could grow but it’s probably going to take some humility from Devs and Investors both to explore them, see what works and what doesn’t, and iterate on that.
My work on nostrocket has been delayed because I went to nostrica, but a lot of people came up to me to discuss it, very energizing!
It’s to have real potential and funnily is inspirational for StackSats.io
Bridging the gap between devs and capital is the next step for substantive projects on nostr and I hope nostrocket can be a big part of that by bringing together different skill sets to better execute good ideas.
yes, 100%
I actually was tempted to write "require" (with quotes), but thought that it would distract from my main point.
yeah, I agree with all your saying here
except with the "go milk the next round of investors"
they know perfectly well the game they are playing and are fully aware of what's going on, that's why bitcoin-only funds are so important, because they refuse to play that cantillionaire game
It's possible to create an organizational modality where the boundary conditions on capital are such that investment can't be evil. Obnoxious/extractive VCs can't comprehend this modality and will have to become increasingly cut-throat as they become stranded on the shrinking islands of legacy economies.
Honestly I don’t think traditional VCs will even bother trying this model, they’ll ride the dead fiat horse in to the ground and then keep whipping its bloody corpse. SVB is a demonstration of their mentality.
Nostr should be an opportunity for this new model to take hold meaning a new cohort of investors who aren’t in it purely to rent-seek but want to capitalise good ideas and support good devs/teams - that’s why I like nostrocket, it facilitates what *should be*
Expect a bit of a standoff though as both sides feel each other out - new investors with devs who are sick of the old way will take time to find equilibrium.
It’s amazing!
