Why 99% of innovation is garbage

1. If crypto assets skyrocket, it will attract more and more talent into this field, leading to an explosion of innovative applications. Does this make sense?

The surge in crypto assets will surely attract more and more people to enter this field. However, this group of people is a mixed bag, including talents, investors, and speculators. I doubt how many of these people can create explosive innovative applications.

I believe that the people who can truly create explosive innovative applications in this field do so out of interest, hobby, enthusiasm, or even a sense of mission.

This is true in almost every field.

When Jack Ma founded Alibaba, he wanted to connect China and the world and provide new business opportunities and platforms for small and medium-sized enterprises.

When Larry Page and Sergey Brin founded Google, they believed that they could improve the search experience and provide more accurate search results.

When Vitalik created Ethereum, he wanted to create a blockchain platform that would have Turing-complete functionality.

When OpenAI was created, the hope was to develop an artificial intelligence that would benefit all of humanity before the Internet giants.

......

There are countless examples like this.

The protagonists in these examples all encountered suspicion, ridicule, and confusion in their initial stages.

None of them started their dreams because the Internet, blockchain or artificial intelligence could bring them immediate and visible economic benefits when they started out.

Because of their inner pursuits, ideals and enthusiasm, they all bravely broke into wild places that had never been set foot before, and ultimately created one disruptive application after another.

2. Magic has moved to the second layer of zkSync. Are you still optimistic about this project?

I don’t quite understand why Magic switched to zkSync to develop its own second-layer extension. I think it’s convenient and efficient to use Arbitrum’s technology stack to make a ready-made second-layer extension.

Perhaps this project has some ideas or plans that are not convenient to be made public for the time being.

The performance of this project has been mediocre recently, neither good nor bad. I have kept its tokens and have not sold them.

3. After seeing so many so-called innovations, 99% of them are garbage.

In fact, this phenomenon is very normal. This is the law of nature.

In any field, most projects are just running alongside; in any group, most people are just followers; in any ecosystem, most species are at the bottom of the food chain.

Many times, looking for real innovation in a bunch of projects is not much different from looking for a needle in a haystack: 99% of the time it takes a lot of effort and hard work, but when you find that needle in that 1% chance, the sense of accomplishment is something that most people will never experience in their lifetime.

If you want to experience the sense of accomplishment of standing on the top, you must endure the fear of falling into the abyss.

4. Is there any project that can be mined at home using an ordinary laptop?

In the crypto ecosystem, it is sometimes not easy to see where a project’s advantages lie, but it is sometimes easier to see where its flaws lie.

For example, the mining mentioned in this message.

If this project can be used to mine with ordinary computers and the mined minerals can be sold for money, it means that there are no technical barriers or participation barriers, and everyone can participate and make money.

If such a project is not a Ponzi scheme, then it will eventually turn into a situation where all participants desperately buy computers to mine, and whoever has more computers can actually make money - the project will become a pure money game.

There is not much need for ordinary retail investors to participate in such projects.