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Weekly digest → digest.sarupbanskota.com
Areas of Interest
💡 Observations, experiences, and ideas within different areas of my life.
Web3 / Crypto / Metaverse
My attention in crypto stems from my Twitter feed going "🤯 once you see the beauty of crypto you won't go back". Naturally I've gotten curious over the last year.
In the last week, I have started to study the space more.
- To me, there's two reasons for the crypto craze — speculation and innovation.
- Speculation: you believe that over time, the world is going to value an asset more, but the asset doesn't directly impact your life in a major way.
- Innovation: a new technology opens up dramatically new possibilities, and changes your life directly. You invest with your mind-space, energy, time, work, learning, etc.
- Speculation (gold)
- You could be an engineer at Airbnb, have no industry knowledge of gold, but still be interested in gold investing. Your Mom has always valued it, and you know that society still associates gold with "premium" (e.g CitiGold). You might reason that gold will continue to be desirable, and invest.
- Innovation (gold)
- On the other hand, you could be a jewellery designer who doesn't invest personal money in gold. You're in the business of gold — to stay relevant and out of curiosity, you keep up with the trends, you up-skill by learning new tools — but for diversification reasons, you wouldn't invest personal money in it.
- Speculation (AWS)
- Where do you invest your money as a jewellery designer? In the cloud era. You're too far off skill-wise to go and learn programming and take a career U-turn. But your friend from Airbnb is infecting you with their belief around the bright future of computing (esp. now with COVID everyone is going online) — and you invest money in Amazon stock.
- Innovation (AWS)
- As an Airbnb engineer, you're exposed first-hand to challenges engineers face at work. You've been part of the CDN team, and know how much energy has been spent on maintaining a CDN in-house. You spend your evenings in awe of what a great business model AWS is, because you understand how Airbnb and other companies would benefit from it. Your personal money is invested in gold. But your time, energy, mind-space, and professional life is getting invested in AWS. As AWS becomes more adopted, your pool of opportunities grow, and your skills become more valuable.
- At this time, I have no interest in crypto from a speculation perspective. To be correct about my speculation on a specific currency, I'd need to understand every aspect of a complex macro-economic phenomenon.
- I have interest in crypto due to the inflections in technology and beliefs around it.
- Technology Inflections: If you combine "demos" from various advances (affordable VR, GPT, no-code, crypto, realism in gaming, 5G, etc.) it makes the sci-fi vision of metaverse extremely realistic.
- Society and Beliefs: It is normal for non-tech-savvy folks to sell online through Instagram. Remote work is not just normal, it's the desired style of work. Everyone despises Zoom & Slack, but it's where Universities are being held, colleagues are meeting, and even team bonding activities are taking place. Zoom + Slack is the MVP for the metaverse, and it has achieved product-market fit.
- The present day internet started with the vision of being a digital version of the local library i.e. someplace you hang out once in a while. Today it's where the average person starts, ends, and spends their day. Considering how much attention we give to it, the "2D internet" is a surprisingly low-fi place. The metaverse is the internet being designed, from the ground up, in hi-fi, to cater to this new reality.
- And in this new redesign, we are rethinking what social status means, how it goes around, what we value, and how the contributors to society should be compensated. It is this innovation aspect of crypto that excites me.
How I'm learning currently
Informal Learning and Education
13 Nov 2021
We are lacking a lifestyle* club for engineers. If you wanted to adopt a fitness mindset / lifestyle, you'd join a health club, not study medicine.