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The Internet's Shiny Object Problem

The Internet's Shiny Object Problem

There are 2 sides to the story.

If you keep chasing the new - you will find yourself in a position where you are never satisfied, focused and energized about one thing. You are looking for the next new thing. And on the internet there always is.

The second side is that the big rewards come when you put your skin in the game in the shiny object. But if you fail, the loss could be huge too.

The Bitcoin Story

Either you know a friend or you are the person who saw Bitcoin in it's emerging years. And sold at a penny. Or never invested. It was the shiny object on the internet. You had big risks but big rewards too.

So what should be the approach?

  1. Learn about the new stuff
  2. Make calculated guess
  3. Put skin (money) in the game
  4. Diversify among many shiny objects
  5. Expect all the money to lose
  6. That's why make reasonable investment
  7. If you lose, you learn
  8. If you win, you win big
  9. But also keep doing what is working now
  10. Web3 is the shiny object, Web2 still works

Expanding On 'Skin In The Game'

Writing blogs like this, tweeting or having a great discussion on why something is the future is nice. But at best - it's vanilla.

If you are so confident then you should have the skin (money) in the game. Be it a political party, cryptocurrency or your aunt's bakery. That will further motivate to learn more about the shiny object.

A Small Note To Consider

If you are hearing about something via news, Twitter and your uncle knows it - then it's probably late. But there is still hope. When Bitcoin reached the mainstream, it didn't remain a good investment bet. But its underlying technology was still was and is a good bet.

Your shiny object should be known enough but not too much. It should look like a fraud - that's where the whole betting is.

The best way is to keep learning and keep betting on what you believe in - just enough and not everything. Go and find your crazy journey.