Opinion certainty 3/5 debate potential 2/5

Stark: Crypto skepticism mirrors 1990s media doubts about the internet

Elizabeth Stark · An Intro to Crypto: Decentralization, the Big Picture · Jul 15, 2018 · at 27:22

Elizabeth Stark, CEO of Lightning Labs, compares current media skepticism surrounding cryptocurrency to historical skepticism about the internet.

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“There were some great articles from the mid nineties where people wrote like the internet will never be a thing. Right. And like some interesting quotes around. So the internet's impact on the economy will be less than that of the fax machine. And I think we're seeing some of that now as well, where, you know, you're always going to have doubters. But there's so much potential and yet we just need time to really build it out.”

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More from Elizabeth Stark

Insight
Stark: Early ICO windfalls create perverse incentives that impede shipping products
“There can be perverse incentives because now there's so much money and they're not actually able to ship a product.”
Elizabeth Stark Jul 15, 2018 ▶ 22:30 An Intro to Crypto: Decentralization, the Big Picture
Assertion Supported
Stark: Some ICOs raised tens of millions before shipping any product
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Prediction Held up
Stark: Lightning Labs will never launch an ICO
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Elizabeth Stark Jul 15, 2018 ▶ 21:30 An Intro to Crypto: Decentralization, the Big Picture
Disclosure
Stark: VCs laughed at Lightning Labs before the 2017 crypto shift
“So recently I was quoted as saying we're back in a Bitcoin, not blockchain world because so back when I was fundraising for my company, Lightning Labs nobody cared about Bitcoin and cryptocurrency. People would laugh us away. They wouldn't take meetings with u…”
Elizabeth Stark Jul 15, 2018 ▶ 11:53 An Intro to Crypto: Decentralization, the Big Picture
Insight
Stark: Base-layer token incentives are essential to maintain network decentralization
“Actually when you have the incentive mechanism that is tied to this Base layer currency or token, if you will, that actually maintains the decentralization of the network.”
Elizabeth Stark Jul 15, 2018 ▶ 12:12 An Intro to Crypto: Decentralization, the Big Picture
Assertion Not checkable as stated
Stark: Bitcoin is leaderless because Satoshi Nakamoto departed early
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Elizabeth Stark Jul 15, 2018 ▶ 38:07 An Intro to Crypto: Decentralization, the Big Picture
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