Vladislav Sopov
Fred Wilson, VC investor since 1987, co-founder and managing partner of Union Square Ventures, shares his (optimistic) predictions for 2024
Visionary VC Fred Wilson indicates artificial intelligence applications, dApps and a “settlement” between regulators and Web3 as crucial trends and events for the tech segment. He is also net positive about VC prospects, but does not expect rapid growth of funding in 2024.
ChatGPT moment for blockchain is coming, top VC investor says
AI and Web3 are two sides of the same coin, and in 2024 the two spheres will help internet users use each other: AI will help in making Web3 usable for mainstream applications, and Web3 will help users trust AI. This statement was shared by Fred Wilson in his annual What Will Happen post covering the “next big things” of 2024.
The macro context for this development will be better than in 2020-2023 as inflation in the U.S. is getting lower. Wilson calls this situation a “soft landing” and stresses its critical importance for the next phase of tech growth.
As the world is moving into the era of AI, demand is growing for inclusive and viable business models that would make AI usage profitable for many parties. As Web3 apps are one of the most obvious solutions to this problem, their synergy with AI might evolve into a major trend in 2024.
Also, decentralized applications of various types might be entering a “ChatGPT moment” phase, i.e., a dramatic spike in dApp adoption for a plethora of use cases:
AI developed for over forty years before its coming out party. I think it will take web3 less than half that time. Satoshi gave us the playbook to build a decentralized internet stack back in 2008 and I feel quite confident that we will have massive mainstream applications running on this decentralized stack well before 2028. I think we will see mainstream decentralized applications emerge in 2024 as we now have inexpensive and fast transactions and simpler user interfaces
Meanwhile, the end of regulatory hostility toward Web3 is yet another trend expected by the seasoned VC and Bitcoiner since 2013.
VC investing in 2024: Robust, but not fast-growing
According to him, the U.S. legal system will at least achieve the level of regulatory clarity accomplished in European Union.
Apart from crypto and AI disruption, Wilson expects a “new energy stack” to be revealed as part of the human ESG strategy.
Speaking about the VC segment itself, Wilson does not expect that venture capital investing and venture capital fund formation will grow that much year over year in 2024. However, the capital markets scene will remain “robust,” he admits.
Fred Wilson is a renowned venture capitalist and blogger. As covered by U.Today previously, he made about $1 billion on selling COIN stocks after the Coinbase IPO.
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