144 - Web3 Is Going Great!! with Molly White

In today’s episode, Molly gives us her central claim on why web3 isn’t actually going so great, why she thinks tokens make everything worse, and why—despite acknowledging some of the good—Molly believes crypto is a net negative to the world…and probably will be in the near future.
Nov 11, 20221 min read

Molly White is an engineer, public goods contributor, and an extremely articulate crypto critic. She also runs the web3 skeptic website: https://web3isgoinggreat.com/

P.S. Keep in mind, this episode was recorded on October 7, 2022 — way before any of the FTX meltdown occurred this past week.


0:00 Intro

7:35 How Great is Web3 Really Going?

8:10 Headline Selection & Website Goals

12:50 Molly is Anti-Crypto

13:36 Crypto’s Promises

15:36 Are We Early?

17:35 Crypto’s Successes

20:23 Crypto’s Biggest Failures

21:50 Banks

26:22 Education Problem

28:10 The Future of Crypto

33:34 What’s Wrong with the Internet?

35:27 The Money Side of Crypto

37:38 Web2 to Web3

42:23 Starry-Eyed Optimism

54:04 Public Goods

1:02:00 Hyperfinancialization

1:05:55 Show Me Fix It

1:08:34 Environmental Impact

1:13:31 Crypto Idealists

1:16:52 Surveillance & Changing Business Models

1:20:40 Wikipedia

1:25:17 Decentralization

1:26:23 Advice For Crypto People

1:27:44 Closing, Resources, & Disclaimers


Molly White


web3 is going just great


Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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