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Matthew Fife's avatar

I also find the economics within web3 completely fascinating, especially as it relates to incentives. Everyone involved in web3 projects - devs, users, funders, etc. - need incentives to be aligned, and this is where long term success comes from, thus the need for excellent economists.

Ultimately though, I think it will take plenty of failed web3 projects due to poor economics for people to realize the importance of the underlying economics. I think it will be a gradual transition, in which the smart DAOs and projects rely more and more on good economists, and those projects slower to learn this will simply fail.

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Alejandro Dinas's avatar

At the end they will consider an economist, because our work is almost the same as the one of data analyst. Joshua Angrist said economics was the first data science before data science exists.

The need for an economist for those companies will be to structure incentives, seeing implicit costs in order to increase their profit by allocating their resources in the right places, and that's what economist do.

They need define property rights, auctions and see whether it's worthy to enter into those new lands of web3. They will look for Economist eventually; in a new world, economics has a larger scope than anything else.

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