Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Helium has revenues of $6.5k/month after $365M investment from A16Z

twitter.com

Post reply on HN
Print view View original

271–280 of 344 posts

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#271

Post by stiltzkin »

spaceman_2020 wrote: post #249
stiltzkin wrote: post #233

Earlier quoted context omitted.

I do use StepN and should be noted that the $120 million was from the first quarter and the project has less than a year online. But that quarter GST and the sneakers were at ATH before the crash and people "invested" more than $1K for a pair of sneakers, earning were $30 dollars a day with a single common shoe and you could reach your ROI in 30 days. The numbers are different now as GST has crashed 98% and people wh…

The problem with any -Fi project (GameFi, FitFi, etc.) is always that the tokeonomics get derailed by speculators. In-game economics become unsustainable when outside investors who have no real interest in the game itself start pouring in money. Suddenly prices that might have made for a sustainable year long run become too expensive, pricing out real users.

The way I see it "Move To Earn" is a new web3 business model StepN gets the credit. It is an Australian star-up who has earn $120 million in the first quarter and pivoted their tokenomics each month. The shoes of StepN as company have not been easy to fill in by the team.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#272

Post by nradov »

swamp40 wrote: post #248
olsonjeffery wrote: post #206

Earlier quoted context omitted.

>Personally, I think the government should subsidize something like this to allow it to get off the ground. Earthquake data, climate data, traffic data, etc. Essentially public use. Literally the exact opposite of what web3 is. You're arguing for a _public good_, but web3's entire premise only makes sense when the opposite happens: everything is privatized, everything is monetized. THIS is the world that web3 makers…

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

The unbanked don't have much in the way of assets. Hyperinflation doesn't impact your savings if you have no savings. They get by using pre-loaded debit cards instead of bank accounts and credit cards. Cryptocurrency doesn't solve anything for them.

It won't happen.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#273

Post by nradov »

stiltzkin wrote: post #271
spaceman_2020 wrote: post #249

Earlier quoted context omitted.

The problem with any -Fi project (GameFi, FitFi, etc.) is always that the tokeonomics get derailed by speculators. In-game economics become unsustainable when outside investors who have no real interest in the game itself start pouring in money. Suddenly prices that might have made for a sustainable year long run become too expensive, pricing out real users.

The way I see it "Move To Earn" is a new web3 business model StepN gets the credit. It is an Australian star-up who has earn $120 million in the first quarter and pivoted their tokenomics each month. The shoes of StepN as company have not been easy to fill in by the team.

This is bullshit. There is no sustainable revenue model for "move to earn". Ultimately who would pay for it when the investment capital runs out?

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#276

Post by stiltzkin »

nradov wrote: post #273
stiltzkin wrote: post #271

Earlier quoted context omitted.

The way I see it "Move To Earn" is a new web3 business model StepN gets the credit. It is an Australian star-up who has earn $120 million in the first quarter and pivoted their tokenomics each month. The shoes of StepN as company have not been easy to fill in by the team.

This is bullshit. There is no sustainable revenue model for "move to earn". Ultimately who would pay for it when the investment capital runs out?

Who are we to say there is nor sustainable way?, but in the case of StepN they have been using a ponzinomic way to run it.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#277

Post by swamp40 »

TomSwirly wrote: post #258
swamp40 wrote: post #248

Earlier quoted context omitted.

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

> Banking the unbanked I first heard this line eight years ago and so far this hasn't happened. If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies. > protection against hyperinflation, In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today wi…

>100% inflation

Volatility is not great but it is not hyperinflation, where your money never comes back.

>promising something useful and never delivering, forever.

Forever is a long time. Still lots of progress to be made. Cardano and Lightning Network on top of Bitcoin are my top picks right now.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#278

Post by verdverm »

csdvrx wrote: post #83
RL_Quine wrote: post #33

Earlier quoted context omitted.

That makes no sense. LORAWAN is very, very limited by airtime, which is why the data rates are so abysmally low. You're never going to see a huge amount of traffic on it.

> That makes no sense To you maybe. But it does to me, and apparently also to a16z :) > You're never going to see a huge amount of traffic on it. And I don't need lots of traffic! If we talk about say the TPMS information for 4 tires once per hour, that's not a lot of bytes. The value is in being able to send 24/7 with a very wide coverage, and no per-network setup (like asking for Wifi passwords- I pay for LTE just…

> and apparently also to a16z

What they realized is that they could extract returns way earlier than the traditional exits of IPO or acquisition. They told at least one of these companies they didn't care if they ever made money. I'd be willing to bet my 1 BTC that A16Z knowingly participated in "scams", knowing that they would never get in trouble because they can operate in the gray zone and get away with it. They only believe in it because they can get the greenbacks out.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#280

Post by rchaud »

justinbaker84 wrote: post #220
rchaud wrote: post #213

The conventional wisdom suggests that governments should not be in the business of 'picking winners' when it comes to subsidizing industries. Private funds can do whatever they want I suppose, but I wonder if there's a term for VCs that spend government-scale funds on things that look like long-term losers. Crypto and 'web3' are just the latest examples of this, and they're coming after a decade of equally uninspirin…

Government scale funds are about 1,000x this amount. For example the US "defense" spending for 2022 is 778 Billion - billion with a B. And defense spending is less than 10% of overall government spending in the US when you include state and local spending.

Defense and the arms industry is not a government "investment" in the normal sense, it's more of an infrastructure thing that doesn't directly contribute to national wealth but serves other non-economic purposes.

I'm speaking in terms of things like government equity stakes in a fledgling, or failing industry, the same kind of direct invrstment a VC would take on. The numbers are much smaller at that level because it's politically risky.

Post reply on HN