Hello legends!

I’m experimenting a bit with the newsletter and switching up the format.

I’m going write about three things each week:

1. One Web3 narrative or trend

2. One writing tip

3. One story/anecdote (Wins, losses, experiences and lessons learned. Anything is fair game. Think of this as unstructured free time.)

Let me know if you like this change or if you think it’s terrible.

Either way, we can still be friends.

Web3 Narrative

This week I’m focusing on the current banking crisis.

It’s looking pretty grim out there.

What does this have to do with Web3?

Since the banking crisis began a few weeks ago, bitcoin (BTC) has been surging (up 42% since March 10th).

People are shifting money out of the US dollar and into BTC.

Usually in times of crisis people move their money into “safe-haven” assets such as gold. BTC is viewed as digital gold and so people are flocking to it.

A prominent crypto industry leader Balaji Srinivasan has sounded the alarm that the US is on the path to hyperinflation.

He has bet $2 million that the US Dollar will essentially become worthless because of the banking crises and the price of BTC will go to $1 million in the next…90 days!

What’s interesting is Balaji is known for making accurate predictions and he usually doesn’t make outlandish claims.

While I don’t think it will happen in the next 90 days, it’s something that has captured significant attention.

For a full explanation check out a thread I wrote:

Writing Tip

Writing can be difficult.

I was pondering this the other day.

Why is it so hard to start?

I know I enjoy it, so why the f*ck is it like pulling teeth to start?

It’s things like overthinking, self-doubt and procrastination that get in the way.

I’ve been using a hack recently that has worked incredibly well: free writing for 5 minutes to start.

The rules are: set the timer for 5 minutes and write non-stop without editing or even using backspace.

This helps break through the overthinking and procrastination and builds momentum.

I found this trick after researching great writers and it was a common theme.

So give it a try next time and let me know how it goes.

Story

Artificial Intelligence has permeated mainstream culture at breathtaking speed.

If you are not aware, ChatGPT is the fastest growing consumer app of all time. It gained 1 million users in just a few days and over 100 million users in just two months.

The latest version known as GPT-4 recently launched. It is leaps and bounds ahead of GPT-3.

There are two reactions to this technology: optimism and fear.

I’m mostly optimistic.

But I grew up watching the Terminator movies.

A small part of me fears the rise of the machines.

There’s definitely no John Connor coming back from the future to save us if that happens.

But the possibilities of the technology are hard to fully comprehend.

Yes people will lose their jobs and fortunes will be made from AI.

And sometime in the near future, a human will be hurt or even killed by AI.

This could be just be an accident. Or perhaps something more sinister.

Either way, it’s going to happen faster than anything we have seen in the past.

So if you haven’t tried it yet, test out ChatGPT (it's free) and mentally prepare yourself.

The future is now.

Thanks for reading! What did you think of the new format? Reply and let me know.

-Savant