RE: This is how Web3 will be Regulated:
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What is not mentioned is how cryptocurrency eliminates the need for Venture Capital firms. Companies like that are going to be obsolete when projects can simply spin up a token among their community members and get crypto rolling in in a peer-to-peer manner.
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Yes this is the most pertinent thing to remember.
There's no need for venture capital when communities can fund themselves.
That doesn't mean that they can't profit from smart investments into crypto projects. Behind a decentralized Data-Layer to ensure censorship resistance can be a second somewhat decentralized layer full of utility and then followed by a fast and agile managed & centralized single-purpose venture. That's basically the Richard Heart approach. Not really safe and sound, but can work brilliantly as well.
EDIT: There's the DAO and there's a venture capital provider and there's your own money and crypto. To me, they serve different purposes and none of them needs to be exclusive.
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Yes, venture capitalists CAN invest in crypto. But the point is they are not NEEDED to invest in crypto projects. That is the big change in the equation: previously venture capital (rich people) got to pick who got funding and also had an unfair advantage when it came to setting investment terms.
The real world is a place where I live and things happen. Venture Capital created Elon Musk and all his companies as well, just as an example since I know about bio. I see different models and use-cases for different types of financial support. Also, a place where venture capital with networking and consulting has proven itself. DAOs are great and work wonders, but there's no SpaceX, Starlink or Tesla founded with it. Big ventures sometimes need massive amounts of liquidity and trust, which can be true for the crypto space as well. We'll see, we'll see, re-imagining these things is sure beautiful, but then it never happens exactly as planned, does it?
You're absolutely right. To think that VC's won't be needed or be around because "crypto is different" is silly. "we can fund ourselves" is an interesting cry...the communities rarely build up enough money to match a VC in any form. VC's have their place in the world. Are they in it for the money? yes...but so are all of us or we wouldn't be on a platform where the purpose is to earn for posting and curating...it's all business and business is good.
100% right, we should not envy the VC Players just because they come from a place of FIAT success. Invite them over and let's grow together.