Follow The People…Some Predictions For 2022

I left the world of trading and running my hedge fund for Web 2.0 back in 2006 to start Wallstrip and Stocktwits. YouTube and Twitter made me do it.

I spent a lot of time in New York (not as much in San Francisco) as web 2.0 proliferated.

As I mentioned in my year end outlook podcast yesterday with Knut, people are moving to Florida over San Francisco as the web evolves and expands.

I like this riff from Thomasz Tunguz in his FIVE predictions for 2022

The spirit of Silicon Valley continues a spread outward. The valley remains an important locus on innovation but its monopoly recedes as new geographies rise in importance and remote work, plus the return of in-person travel, creates a new way of working for many. Silicon Valley falls to below 20% in all venture financing.

I have seen it with my own eyes visiting Miami and San Francisco this year.

They are not just moving to work remotely keeping their old jobs, they are leaving their jobs to work on ‘web 3’ projects/companies.

I have read at least 50 year end Venture Fund letters and many describe some version of the same data point…

A ‘critical mass’ of the smartest people in the world have enough confidence in the future of crypto/web 3 that they are willing to bet their professional careers on it.

I did not know I was following Fred Wilson when I started Wallstrip at the beginning of Web 2.0, but since he was my first investor at Wallstrip I had an inside view of what he was doing and thinking though he was writing about it every day on his blog.

So what is Fred thinking now?

Even Fred this week was writing about ‘Why Web 3?‘. You should read it too.

All these web and people changes are still big wins for data companies and machine learning companies so they will continue to grow rapidly.

My gut feeling is that unlike past changes in technology, our centralized internet rulers will be heavily involved in ‘Web 3’no matter what the ‘brain drain’ happens to be. They have too much cash and too much to lose and they actually are quite aware that the stakes are high.

PS – People enjoyed watching me make an ass of myself in Wallstrip so here is another one with me walking the streets of NYC with my sleep machine from 2006.

Have a great New Year’s eve.