BILL GATES on 'the internet' in 1995 | David LETTERMAN
Why Hacker News recommends it
HN cites it as an example of how even sharp people dismissed a transformative technology, often invoked in crypto debates.
What it is
A short clip of Bill Gates appearing on David Letterman's show in 1995 trying to explain the value of the internet. Letterman is visibly unconvinced.
Recommended by 0 HN commenters across 0 different months, 2017 to 2021.
What Hacker News said
Cites moduspol · 2017-06 · on “The blockchain paradox: Why DLTs may do little to transform the economy”
Watch this video [1] of Bill Gates explaining the value of the Internet to David Letterman, where he's just not getting it at all. Bill's telling him the things it can do relative to David's interests, but he just sees those as problems that don't really exist because they've already been solved. It took decades before the Internet was useful to "the masses." I don't think there's some conspiracy among VCs, but I do think dismissing cryptocurrencies for the reasons you have is short-sighted. [1] [this video]
Cites mseebach · 2018-02 · on “2018 Annual Letter from Bill and Melinda Gates”
Microsoft did a lot of ruthless things and even some illegal things, yes, but it requires a very unkind reading of history to deny the absolutely huge role they played in bring about the world we take for granted today. It's a common, but not at all obviously correct, analysis that where we are today was manifest destiny and thus Bill Gates and Microsoft was just randomly the medium providence chose to carry out this destiny. Microsoft got so incredibly many things right, and they started flagging almost the second they got a major thing wrong (the internet). I really like this interview (Bill Gates on Letterman in 1995). He says the internet is a big deal, but he clearly doesn't get it , no
Cites fossuser · 2021-12 · on “The biggest crypto lending company is a ponzi scheme”
> “ By constraining it to transfer of an intermediate representation you're not making a good faith representation of the process.” Yeah, I’m betting on the future utility enabled by the tech, not what it can do right now. Similarly people said the web was useless in the 90s [0] when the future utility (imo) was obvious. > “Second, the only thing you can do better with crypto than a centralized exchange is crime, grift and regulatory arbitrage.” There are non-crime advantages to being able to use decentralized systems. These are most obvious in places with hostile governments and unstable currencies. The new stuff you can do with decentralized state and public auditable records is super new