Doesn't really make sense. People leave for cryptocurrency projects because they’re promised a huge portion of the tokens or pre-mined coins. The idea is that they just need to make the project work well enough to hype enough people into buying the coins, at which point they can unload them at huge returns and then move on to the next crypto project to repeat the process.

It doesn’t make sense that Google would keep people around, pay them a lot of money, have them produce useless projects without the same asymmetric upside potential, all to keep them from going to companies that weren’t even competitors in the first place.

I'm all for a huge premine and short vesting period, but Google is competing with Meta.

Google is Web 2.0 "get off my lawn" Mecca, they ignored this space until Meta.

People go there because they just caught on to the compensation packages and are going to catch on to Web3 compensation packages just as late. They already work on overly complicated stacks for useless cogs on useless products that Google shuts down randomly.

Have you seen what "backend" competency entails these days? Its absurd!

> It doesn’t make sense that Google would keep people around, pay them a lot of money, have them produce useless projects

It might. This keeps these people out of the job market.

This is silly. There are many, many true believers.

https://news.ycombinator.com/item?id=29140393

That's just a comment to yourself without many commenters in it.

/S?

It links to this course syllabus from the top algorithmic game theorist in the world:

https://timroughgarden.github.io/fob21/l/l1.pdf

I doubt roughgarden is excited about blockchains just because he has some tokens

Not exactly.

You mentioned that there are true believers, so i thought you referred to the commenters on the topic, since you linked to the HN topic and not the pdf associated with that topic.

Which is a bit confusing tbh :p

Definitely since you both submitted it, have the top comment on it and I don't know him.

But why keep them if they are going to be doing useless work? In the hopes they get bored and move internally to different project?

Sometimes having someone do useless work for you is better than having them do useful work for a competitors.

It’s not entirely useless. It costs big companies little to make this type of investments to avoid a potential big miss longer term (think of IBM, Nokia, etc.) Big companies are paranoid about missing the next big thing, so it makes sense to invest in a lot of things.

Is GAMMA the new FAANG?

* Google

* Amazon

* Microsoft

* ???

* Apple

Facebook is now Meta, so the acronyms have to change.

So MAANG. Add in Oracle at the end and you've got yourself a MAANGO!

Oh cmon, MANGA is so much better

Or maybe we just need a new company beginning with an F?

I vote for Foot Locker

All Foot Locker has to do is start selling exclusive NFTs with their shoes, and they'll be considered an innovative blockchain company in no time.

Fugazzi MAMMA

Google is Alphabet tho, so its MAAMA or MAMAA.

MAMAA is by far my favorite, it sounds like a child crying out to mom. Mamaa! (also easy to add another m or a if ever needed - mammaaaaaa!)

Pop Netflix back in there from the FAANG, and you have MAMANA

with a market cap of 177B it has no business being in the conversation. Disney is 250B.

Johnson&Johnson and Comcast are more deserving of spots even. Tesla, NVidia, Visa.

It's MAAAM!

Or TAAAMM. Companies with hug TAMs.

https://twitter.com/sama/status/1484571438442967042

Meta

And actually Google is now Alphabet, so it would be one of:

AAAMM

MAMAA

AMAMA

etc

Meta?

N is for Netflix. Microsoft is hardly relevant.

Yeah the 2.25T company is less relevant than a movie and TV studio that is worth 1/12th as much. /s

Haha... that was a good one, you ALMOST got me there :-)

2 trillion dollar company hardly relevant

By this "logic" FAANG should contain Saudi Aramco and probably Tesla: https://companiesmarketcap.com/

Instead, the name was always related to high growth + high salaries + innovative technonogy + interesting companies to be working for.