Dogecoin Co-founder Billy Markus Criticizes AI and Crypto Pitches, Highlights Greed in the Crypto World
Billy Markus, the co-founder of the meme cryptocurrency Dogecoin, has expressed criticism of tech startup pitches that involve Artificial Intelligence (AI) and cryptocurrencies. In a recent post on X (Twitter), Markus, also known by the pseudonymous username “Shibetoshi Nakamoto,” provided blunt advice to venture capitalists (VCs) when evaluating tech startup proposals.
In his tweet, Markus offered guidance to VCs, stating:
“dear VCs,
let me help you out, for when you hear tech startup pitches:
– if they mention ai, it’s something chatgpt will do in a few months
– if they mention crypto, it’s retarded”
Markus’s comments reflect a skepticism towards the current market dynamics and the narrative surrounding AI and cryptocurrencies in tech startup pitches. Despite the recent recovery in VC funding for crypto ventures, Markus believes that greed has become a significant factor influencing decision-making within the crypto space.
The co-founder’s remarks come at a time when the crypto community discovered Markus’s abandoned project – BELLS, which was launched eight days before Dogecoin. Community members revived the project, engaging in mining activities to generate tokens. However, Markus highlighted concerns about insiders and early adopters benefiting disproportionately in the crypto space, stating that the industry is now filled with greed, scams, grifts, and corruption.
Markus’s critique extends to the broader crypto landscape, asserting that only 0.02% of the industry “cares about anything beyond making money.” He contends that the crypto space has deviated from its early principles of fairness and inclusivity, with greed overshadowing fundamental values.
This isn’t the first time Markus has been vocal about the state of the cryptocurrency industry. In 2022, he claimed that 95% of cryptocurrency projects are fraudulent. As debates about the future direction of the crypto space continue, Markus’s commentary provides insights into the challenges and concerns faced by industry insiders and pioneers.
