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Steve Harmon - Stay Cool & Have A Great Summer

Updates On Tech, Crypto, & More

Steve Harmon

July 25 · Issue #20 · View online
Beyond the hype, inside the world of venture capital, tech, stocks and trends, from Silicon Valley to Shanghai, from veteran investor and entrepreneur Steve Harmon - followed by many leaders in finance and tech, see more:

Updates On Tech, Crypto, & More

Buenas dias and welcome to summer. If you’re in Phoenix at 117 degrees then summer had already welcomed you. With big arms.
I came across an old journal from my middle school days, where people in my class had written notes to me as we ended the 6th grade and headed into summer break. Literally every entry was “stay cool and have a great summer” … remember those yearbook entries?

Crypto Blockchain Update
The speculators seem to have left the building (with Elvis). Good thing. It’s still very early in crypto and only a few have actual real-world applications at this point. I own Ripple (XRP) and Stellar Lumens (XLM). A lot of hype surrounding EOS which had a run and drop. Let’s back up and evaluate the situation:
1) it’s early in crypto and applications getting traction IRL (in real life) are few
2) Bitcoin, Ethereum and probably even EOS seem to me to be incomplete solutions as they don’t solve the speed, cost, convenience, scale, IRL application factor problems all in one. Some solve parts of them.
3) The speculators caused market confusion.
4) The 2,500 white paper-backed tokens are backed by…? oh yeah, white papers and guys doing road shows talking about white papers.

Tech In General
While some talk about the race to a $trillion market cap for Apple (AAPL) or Amazon (AMZN) I think the race is a ‘so what?’ These media-induced events to me lack substance. It’s like Dow at 10,000 or NASDAQ at 2,000… there is no intrinsic underlying meaning to the actual number other than a perceived milestone.
A real milestone?
Cash flow and earnings growth.
Media coverage?
Overall I think tech has long way to go as it moves analog to digital. That’s services across many sectors still untouched and unimproved by digital margins.
AI = artificial interference? Another hyped area is artificial intelligence. Images of the Terminator movie play out on some articles. Others talk about humans becoming robots and never dying.
Bottom line: science fiction makes for fun talk around a BBQ.
AI is more like a byproduct of natural intelligence…maybe a better acronym would be NIB…natural intelligence byproduct.
But the media prefers to want to perpetuate a Terminator type mentality. Sells more ads. And, when the year 2001 came around didn’t you kind of think that it’d be more like 2001: A Space Odyssey? Or the big Y2K scare (year 2000) … humans freaked out. Computers didn’t know the difference between 12/31/00 and 01/01/01? According to OnThisDay the biggest thing that happened was Kate Hudson got married. No talk of Y2K at all…hindsight is 20/40.
Shameless plug: A shout out about my new venture Ditto. Our goal is to make buying/selling private, cheaper (by long shot), and put that money back in your pocket. Which, in some cases, could be $25,000 or more… Unlike the general startup mantra we’re not looking to “improve the world”, we’re looking to “improve YOUR world” … that $25,000 could help pay for college, mortgage, etc. Now multiply that by 1 million users and you see the kind of liquidity we’re looking at enabling. For you.

stay cool and have a great summer…
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