Keen On

In the midst of today’s AI hysteria, have we forgotten about blockchain technology and the seductive Web3 promise of decentralization? Robbie Bach, longtime Xbox chief and lieutenant of former Microsoft CEO Steve Ballmer, certainly hasn’t. In his new novel, The Blockchain Syndicate, the prescient Bach imagines not only a giant political crypto grift, but also warns about the siren song of Distributed Autonomous Organizations (DAOs). No, blockchain might not be as sexy or lucrative as LLMs these days - but Web3 still matters even if, as Bach suggests, its promise of a decentralized network remains more seductive than substantive.1. Crypto as “Giant Grift” Bach views cryptocurrency as a highly risky, speculative investment vehicle comparable to commodities like gold or silver, but warns there’s “definitely a giant grift” happening, with vulnerable people—particularly older investors putting their savings at risk—being exploited by those taking advantage of the crypto craze.2. AI Bubble Will Burst (But Not Catas