Sam Lessin, former vice president of product management at Facebook (2010 - 2014), serial entrepreneur and seasoned investor, explains why cryptocurrency is the only "platform shift opportunity" he sees in the 2020s.
"AI doesn't disrupt anything, crypto is a platform shift," Sam Lessin says
Mr. Lessin reflects on the concept of the "platform shift," which, he says, is very popular in Silicon Valley. However, the vast majority of "platform shifts" are over-marketed and lack real disruptive power.
Crypto is the Only Meaningful Platform Shift Opportunity on the Horizon… not AI, VR/AR, Autonomous / EV, Etc. pic.twitter.com/Vhs04ChhWZ— sam lessin 🏴☠️ (@lessin) February 16, 2023
He is certain that the majority of gamechangers are nothing but "big tech moments" that actually fold into existing infrastructure instead of creating new ones. For instance, artificial intelligence (AI) "doesn't disrupt anything," being yet another product of the cloud computational segment. AI just scales differently and uses more powerful hardware for its development.
VR/AR products are too expensive to build; no VR unicorn would be capable to compete with Apple or Microsoft since too much must happen to make it work. As the dust settles, Tesla - let alone other EV big names - remains yet another expensive car.
Crypto works in a totally different manner. Cryptocurrency will make all incumbents in financial world obsolete as its adoption accelerates. Beyond fintech, crypto disrupts many corporate structures and business models in various segments.
PC, Internet...then crypto?
Mr. Lessin admits that many corporate giants will be unable to stretch enough to fit crypto into their business models. However, it is yet to be seen which "next big thing" would be able to bring disruption compared to that of personal computers and Internet communications.
Whle the majority of commentators, (including Solana's (SOL) Raj Gokal, agreed with Mr. Lessin's take, other speakers called crypto "a financial instrument, a very niche one."
As covered by U.Today previously, researcher and investor Tuur Demeester compared the inception of Bitcoin (BTC) to the Reformation as it creates an entirely new economic class of people.