A post-Red Hat world – Troy Murray


I think it’s extremely hard for “business” minded people to wrap their heads around open source technology and the even harder part for them is that this idea is the backbone of the WEB3 movement. Many business people have moved into tech because it’s the hot sector in the economy and they bring their preconceived notions of how a business is run in this space. They have business models that work in the WEB2 world but honestly they seem very lost when it comes to WEB3, they have to unlearn to understand this new world. A case I would like to present is when VC’s were investing in Red Hat, an open source Linux distro which was given away for free. The VC’s who poured money into it were laughed at by other investment types, who couldn’t wrap their heads around why anyone would want to put money into software that was given away for free. The VC’s that took the bet had the last laugh when IBM bought Red Hat for $34 Billion in late 2018.

Source: https://www.cnbc.com/2018/10/28/ibm-to-acquire-red-hat-in-deal-valued-at-34-billion.html

Our co-founder Kim Jackson always makes an excellent point when she says that when the Internet first started the people who jumped on it first were laughed at, but I would like to see anyone live with out it now. That was only in WEB1, those same people who started WEB1 and made their fortunes invested in WEB2, and they are now pouring money into WEB3. A visionary from the WEB1 era, who helped found Netscape and co-runs probably the most powerful VC fund in the world is Ben Horowitz, a constant thought leader in the evolution of the web. Computing platforms are not static, they are a constantly evolving technology that is reborn about every 12 years with a new platform.

Please view a great clip from him about this idea: https://www.youtube.com/watch?v=l9jvKWKmRfs

Another saying I’ve been hearing from some “business” people in the Blockchain ecosystem is that “WEB2 pays our bills,” which is so completely polar opposite of the truth it baffles me when I hear it come out of people’s mouths. All projects in this space are pretty much 100% funded by WEB3, Ethereum is WEB3, SNGLS is WEB3, . If you don’t have MetaMask or some other WEB3 enabled wallet that lets your browse and interact with WEB3 I question what you are doing. Quitting WEB3 is NOT an option. Pivoting to a WEB2 model, from where I sit, opens projects up for legal action as it would be a serious change in what was always being planned and has been promised.

We live in a post-Red Hat world now, you need to update your thinking.

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