“Follow the white rabbit.”
Source: Matrix Resurrections 2021.
This is part I in a series on web3. Make sure you read part II here.
I fell down the rabbit hole hard three months ago.
It’s a familiar story at this point; web3 is slowly gaining mainstream adoption, and folks like me are realizing that there is a LOT more to it than scammers. I am not ashamed to admit that for a while, I thought crypto projects were simply get-rich-quick schemes. Sure, lots of folks made loads of money, but I just couldn’t see the value in the applications other than bitcoin as a digital alternative to gold.
It’s safe to say that I changed my mind.
Our team at MATH graciously gave me the bandwidth to explore web3 in a new series that we’re calling Venture Curious. This series will explore new technologies and markets filtered through our investment theses.
I started reading lots and lots of articles. (Here are all of them, organized by themes.) Joined a few DAOs. Bought and sold a few tokens. Got lost in the world of NFTs.
The more I explored, the more I started thinking about how this impacts healthcare. It was the natural conclusion after spending a decade building SwipeSense. Most of my startup ideas stem from problems I saw in hospitals during our journey.
Healthcare is one of those industries that is easy to have a love/hate relationship with. On one end, it is by far the most direct way to deliver impact. Heroes work at hospitals – healthcare workers are some of the most compassionate, generous, and intelligent folks to work with. They literally help people every day and it feels incredibly meaningful to serve them.
On the other hand, our healthcare system is bloated, inefficient, and painfully slow. It can feel like days blend into weeks, weeks blend into months while waiting for hospitals to make a decision. Organizations are confusing to navigate and there are often competing incentives. However, I believe healthcare remains as one of the most nascent industries to deliver utility to up and coming web3 projects.
In the decade ahead, healthcare companies using blockchain technologies will have the potential to save lives and reduce billions of dollars in waste. I find that premise much more exciting than marketing rare collectibles or day trading digital currencies.
I learn best by doing. Over the next few months, I’ll be writing a lot more about this new space as part of Venture Curious. Obligatory disclaimer: Like many of my peers in this new space, I’m only a beginner. I will sound silly. I will make mistakes. I am grateful for your feedback.
With the humility warning out of the way, let’s start exploring some startup ideas. Coming up next week, a decentralized electronic medical record.