🫙 The 'Hollow Abstraction' of Web3

Today’s pick

The 'Hollow Abstraction' of Web3. I cannot stop watching videos of Web3 boosters failing to explain the usefulness of the technology. I realize this is petty, but the videos are deeply cathartic. I'm talking about two clips in particular, both of which were posted by Liron Shapira… (Charlie Warzel / The Atlantic)

Damon Beres 🦇 @dlberes

“Finally I realized there’s a pattern here: I keep making things that people don’t want” Interesting piece from ⁦@cwarzel⁩ about a major existential problem in the web3 universe: Many of its most powerful boosters struggle to justify its purpose

newsletters.theatlantic.comThe “Hollow Abstraction” of Web3I cannot stop watching crypto profiteers get owned.

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Tech Doesn't Have a Free Speech Problem. It Has a Know-It-All Problem. Jesse Powell, the chief executive of the cryptocurrency exchange Kraken, this month released to its 3,200 employees a 31-page document that purported to describe the company's values. But based on the edited version later published online it… (Elizabeth Spiers / The New York Times)

Elizabeth Spiers @espiers

I wrote about tech CEOs who treat their companies like ideological vanity projects at the expense of employees, shareholders, and everyone who’s not them.

New York Times Opinion @nytopinion

Jesse Powell’s problems at Kraken are “not rooted in his libertarianism or his commitment to diversity of thought.” Instead, @espiers says, narcissism “has allowed him to turn the company he runs into an ideological vanity project.” https://t.co/FRKpPDMFsE

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Period tracker Stardust surges following Roe reversal, but its privacy claims aren't airtight. Period tracking app Stardust surged to the top of the U.S. Apple App Store in the wake of the Supreme Court's decision to overturn Roe v. Wade after the app promised it will encrypt its users' private data to keep it out of the hands of the… (Sarah Perez, Zack Whittaker / TechCrunch)

Zack Whittaker @zackwhittaker

New: Period tracker Stardust rocketed to the top of Apple's app store over the weekend after Roe v. Wade was overturned. But the app shares the phone number of users (who give it when signing up) to a third-party analytics firm Mixpanel. w/ @sarahintampa

techcrunch.comPeriod tracker Stardust’s privacy claims aren’t airtight – TechCrunchThe current version of the app shares a user’s phone number with an analytics firm.

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Google Hangouts is shutting down in November. After sunsetting Google Hangouts for Workspace users in February, Google's now beginning the process of migrating free, personal Hangouts users to Chat. In an announcement posted to its blog, Google says people who still use the Hangouts mobile app… (Emma Roth / The Verge)

Laurie Voss @seldo

Google Hangouts is shutting down in November. Its successor is Google Chat, which is not the same as GChat, which was also known as Google Talk. None of those are the same as Spaces, which is the new name for Rooms. I am not making any of this up.

theverge.comGoogle Hangouts is shutting down in NovemberGoogle will start redirecting mobile users to Chat.

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One of the most prominent crypto hedge funds just defaulted on a $670 million loan. Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on Monday morning, stating that the fund failed to repay a loan of $350 million in the… (MacKenzie Sigalos via CNBC)

CNBC @CNBC

One of the most prominent crypto hedge funds just defaulted on a $670 million loan

cnb.cxOne of the most prominent crypto hedge funds just defaulted on a $670 million loanProminent crypto hedge fund Three Arrows Capital has defaulted on a loan for more than $670 million.

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