Every few decades, a set of technologies converge to reconfigure the global economy and the order of human affairs. We saw this with the internet, a convergence of content, computing, and telecommunications networks that took us everywhere, all at once. Before that, it was power generators, electrical grids and the lightbulb that brought us 24/7 production.The world is entering a new era — call it Web3.
If viewed through the lens of the internet, investors would have valued them differently. Web3 requires a new lens and a new field guide to help investors distinguish the firms best led, best-equipped and most open to transform themselves under a new paradigm. The future is bright, but unclear To those who don’t follow new technologies, innovations can sometimes look like overnight success stories. More often, they are decades in the making. Artificial intelligence is a perfect example. Back in 1965, researchers promised that AI would fulfill all human tasks in the next 20 years. AI’s first winter came in the 1970s after 10 years of AI investment yielded precious few results.
What Web3 means for investing in technology All industries have setbacks.