Google Creates Blockchain Unit, Hires New ‘Founding Leader’
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Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#2 HN (2024): Google cancels Blockchain services
I can't think of any blockchain (apart from government blockchains) that I'd avoid as much as Google's.
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#3[deleted]
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#4It's gonna be hard to deprecate a public blockchain, but if someone can do it it's Google!
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#5Whatever is going on with the >$1trn club's ideas for cracking that next ceiling... it's all quite opaque.
"Let a thousand flowers bloom" failed, but at least we had a grasp of what's going on. It was a bet on the, now known to be false idea that the web economy would have horizontal breadth. Turned out that (a) ads had a lot of death and (b) Google didn't manage to create any alternative revenue streams worth noting.
Now they all seem to be eyeing off anything that looks like it has $trn potential. That's a pretty finite pool.
Crypto is wild and chaotic. If a handful of big companies take it over, it'll be more orderly and ostensibly accountable. Traditional finance is pretty ugly, and we won't miss Citibank, JPM and such but...
Goddamn these bigshots and their sense of title to the world. I hope they lose.
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#6This is less of a news event than it first appears. This is "large company wants to be seen working on cool stuff and hedge against the possibility of the the market turning into something and having to play catch-up."
Some mid level exec was like "why aren't we blockchain, customers are asking about out this blockchain thing" and here we are. You need to wait for the product announcements and then wait to see if those products drive 100M+ revenue before knowing if they have any kind of staying power.
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#7It's gonna be hard to deprecate a public blockchain, but if someone can do it it's Google!
Blockchains are inefficient always-on distributed systems. If people stop paying to run all of that infrastructure, it's effectively dead even if someone else did make a copy unless they can afford to run a scaled down version — and with little demand, the ceiling for that is quite low.
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#8Given this is "according to an email viewed by Bloomberg News", I can't help but be reminded of the "An Anatomy of a Bitcoin Price Manipulation" article that was posted here recently.
[1] https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin... https://news.ycombinator.com/item?id=29966533
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#9Finally
Too bad I dont know what theyre doing but Ive been really annoyed that I couldnt get FAANG compensation to write smart contracts, and thats the only kind of thing worth coding right now, from a purely market based perspective the market is saying write smart contracts and ideally get paid while learning/improving how to do so. Other Web2 organizations are not competitive in compensation. Bi-modal compensation paths.
Web3 organizations also have their own bi-modal pay scale, with Silicon Valley VC backed startups with pitiful startup compensation for unnecessary equity on one end, and higher base salary + token swinging organizations on the other end. Although there is an extremely high probability of the token compensation turning into annual million dollar compensation and the luxury of a much faster vesting period, its still not exactly on par with the guarantees of a FAANG compensation structure. Over the last 18 months it has gotten extremely close though!
But not good enough for me, since launching smart contracts individually is still way more lucrative but requires way more focus. Working for someone else doesn't require focus it just require showing up, while gaining public consensus and references on your skillset. so it would be nice to have all that downtime compensated but only if it was high enough.
If Google begins working on the right thing it’ll pull all the comp up.
Re: Google Creates Blockchain Unit, Hires New ‘Founding Leader’
#10Whatever is going on with the >$1trn club's ideas for cracking that next ceiling... it's all quite opaque. "Let a thousand flowers bloom" failed, but at least we had a grasp of what's going on. It was a bet on the, now known to be false idea that the web economy would have horizontal breadth. Turned out that (a) ads had a lot of death and (b) Google didn't manage to create any alternative revenue streams worth noting…
Ah yes, Google Wallet, I mean Pay, is nothing if not "orderly" and "accountable".