The crypto industry was once incredibly biased and misguided due to tribalistic tendencies in an era that was disconnected from reality. Very few companies had real revenue. There was no real PMF outside of speculation. Mostly incentivized activity onchain. Lots of hype around narratives. You get the point. Even the best of us got caught up in all of it when the market was hot, and that same speculative cycle is likely to return. While we may never lose the tribalistic nature inherent to money, the tides are turning toward rallying behind the best businesses in the space. Real value is being repriced and companies without PMF & customers are being punished. This is typical of bear markets, and quite healthy. The only tribalism that matters is the core ethos: decentralization first, sovereign money, self-custody, censorship resistance, and global, permissionless markets at scale. Everything else will resort to Business 101, fundamental value, and real competition to create the foundational layer for the new financial system (and internet). Welcome to the new era. We are still early.