Today, I had lunch with a friend who owns a small construction company (like 5 employees).
He told me he's spent much of the last five years writing code, building this complex line-of-business app in Visual Basic and MS Access. And that it's essentially saved his business.
Meanwhile, his company has consistent automated estimates, purchase orders, and invoices.
I asked him if he wanted to code full time someday, and he said, "Definitely."
Code is changing everything. Or, rather, _accessible_ code is changing everything.
"You're going to do just fine, buddy." 😂
Building my first home in 2003. Yes I was skinny once. pic.twitter.com/HWOxJKpweg
— Jamon Holmgren (@jamonholmgren) September 24, 2018
Way back in 2002-2009ish, I used to design homes and remodels (along with freelance coding). It definitely feels long ago now, but it was a big part of my life back then.
— Jamon Holmgren (@jamonholmgren) October 5, 2018
I'm still trying to figure out where those files went. They could be lost to history. But I salvaged a few.
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.