The Coming Epic Battle Between Crypto FAMGA aka Facebook Apple Microsoft Google

center_img Ultimately, FAMGA is accountable to its shareholders and employees. As massive numbers of people use FAMGA, for large periods of time, the future profit growth of FAMGA is not going to come from user growth or growth in engagement. The only way FAMGA continues to grow its profit is to extract more value from its users and from others in its ecosystem.Now I don’t believe these companies are evil. Profit growth is the mantra of capitalism, and I’m a capitalist. But I’m also human. And I believe that there are new business processes that are being built, that simply have better outcomes for humanity far beyond just the economic benefits (which can be enormous). These new processes give the community the power. The processes enable user privacy. They enable forking (which is a feature, not a bug). I could go on and on.But the only way I see that those new processes overcome the massive competitive advantages of FAMGA and capture the lion share of crypto value creation, is if crypto can harness the true potential of community.The Coming Epic Battle For The Future Of CryptoWe know FAMGA is gearing up for the battle. This week’s business headlines included “Facebook’s blockchain team is looking for a lead dealmaker”. Amazon stating offering BaaS (Blockchain-as-a-Service) in May, and rumors of an Amazon cryptocurrency have been circulating for almost a year, ever since they registered a slew of crypto-related domain names. While Sergey Brin admitted in July that Google “… failed to be at the bleeding edge..” of blockchain technology, it launched a blockchain solution for its cloud platform later that month. FAMGA may have been asleep at the wheel, but they’ve woken up, and the vehicle they’re driving is currently a Death Star for competitors. The Force that crypto has to use to battle the FAMGA Death Star is community:We are at the very beginning of understanding how to provide effective incentive structures for the various community members (aka token economics). While much of the work on community has focused on tokens, I “status” in a community can also be a very powerful incentive, and it’s free to give. I also know the community is building new tools to enhance the ability of the best projects to quickly attract and engage a large community.With trillions of dollars at stake, the battle will be epic. May The Community Be With You.Reprinted by permission. PREVIOUS POSTNEXT POSTlast_img read more

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