Fascinating perspective Jimmy — I especially tend to agree “build anything” ends up generating technical debt, and debt is far worse than not debt. Most of the garbage eventually just becomes a page the historical section of wikipedia. I think the zirp exacerbated this problem, but it does come from a fiat mindset.
I’m interested to get your perspective of how VC funding may work in a Satoshi standard future. Will this only be after price discovery phase?
Investing sats in projects is almost certainly going to never yield even the principal back due to time, halving phases and supply. Deeply disincentivizing investment, which unlike life costs, cannot he waved away in deflationary assets - Eg why would you spend your precious deflationary sats — I have to live/eat/roof etc — but investment is discretionary and a result of idle capital with an objective of value growth. Extremely difficult, ala trading meme tokens for sats and profiting.
VC funding has been the biggest enabler of innovation in technology for the last 40y+ I don’t see it going away as a strategy, and we need to think about how this works in future. Bitcoin denominated timelock bonds as instruments could be one idea.
Great question. I will write another post on the VC complex in the near future to answer what I think will happen.