in #hive-1679222 months ago


Web 3 founders play an integral role in developing the crypto space. They bring in capital, developed ideas and talents that give the Web 3 space its substance. Founders are the face of Web 3 space and that comes with a lot of responsibility. Nevertheless, they have also contributed negatively to the space, which is rarely talked about. In this post, I attempt to shed some light on these issues.


I stumbled upon this post on Warpest which triggered me to the point where I am writing about my issues with Web 3 founders. This category of persons has the unique ability to absolve themselves of any responsibility when it comes to the failures of their project, and we as the crypto community need to hold most of these grifters (posing as founders) more accountable.

I have been on Hive for almost half a decade and I have seen many projects come and go (mostly ‘go’). I have seen repeatedly how these supposed founders have exploited the Hive community and most of that exploitation still happens today. It's either the community is being exploited for its resources or time. However, when things don't work out as planned, the community gets burnt and blamed for the failures of the project. It is never the case of bad execution or planning. Some how the community get roped in the failures of the project(s).

One of the reasons web founders never get blamed is because it is easy to hide a good idea/project (on paper). For instance, Mr A has the idea of creating a Dapp that will bring millions of people to Hive but fails woefully. However, he pats himself on the back because “it's not his/her fault”. There are enough reasons as to why the project failed and it has nothing to nothing to do with himself--the founder.

However, most people fail to realize that a good plan doesn't equate to a good result. A great plan can be executed poorly. Most good projects die because an inexperienced team/founder runs them. Most web projects are executed by wannabe entrepreneurs with no track record. In the traditional financial world, these people would not get funding for their bogus ideas, but since this space is filled with dreamers and speculators, we buy and support anything.

In the Web 3 space, many grifters pose as founders and enjoy an unquestioned immunity. Rarely would you see think pieces about bad founders, but now and then, I get to read about bad community members, paper hands, etc. The community fails to realise that the crypto space is the totality of the things we allow to propagate, and bad/incompetent founders are just one of those things.

Side note: starting a NFT collection doesn't make you a founder.

In conclusion, Web 3 stakeholders need to have a balanced view of how they contribute positively and negatively to the space and take their fair share of blame. Every bad press should not be attributed to poor community participation. Most times, these Web 3 do not have what it takes to scale or meet the demands of the market, and they deserve to fade out.

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