This is a very interesting thread. The one caveat I would say is that investing heavily in competing L1s will probably meaningfully exist for the next decade. The market size is multi-trillion $, so even investing in a competing L1 at a 10B value is betting on <1% chance 1/ https://twitter.com/kaiynne/status/1387266949302734852

Of success. And that assumes a winner take all world. Ethereum has the dominant market share, value accrual and only platform that can really claim decentralization, but VCs in particular will invest in competing L1s until the battle is settled bc of the assymetric upside.

Also, when I say “interesting thread” above, I really mean great thread! An important conversation for us all to be having. We can’t just rely on developers being the gatekeepers for emphasizing the importance of decentralization.