L1 vs L2 Public vs private EVM vs non-EVM Permissioned vs permissionless Crypto-native vs TradFi-backed We will see blockchains of all flavors, architecture doesn’t matter, throughput is commoditized, distribution and liquidity are king People are overly focused on the least important and most commoditized part of the stack This has done immeasurable damage to our industry in terms of misallocated captial investment(Zach Rynes | CLG)