In Scarface's 1980's Miami, the rule was:

First you get the money, then you get the power, then you get the women.

In today's crypto space, it goes:

First you get the developers, then you get the users, then you get the money...

(Then you get raided by the S.E.C?).

Point is: when the Web3/crypto space starts to lose developers, it's not a good sign...

And even though the saying goes 'bear markets are for building,' it's often expected that both developers and users will bleed off in choppy markets.

This bear market has been particularly rough - $2 trillion (with a T!) was wiped from the crypto market in 2022.

But get this:

The amount of full-time developers working in crypto actually increased, 15.2% (to a total of 7,000), in 2022.

Want a graph? Here's a graph!

The grey line is crypto's total market cap, and the blue line is monthly active developers.

The takeaway:

1. Prices may be down, but Web3 & crypto ain't slowing.

2. The more work done in bear markets, the greater the result in the next bull run.

3. Our life choices (getting into Web3) haven't been in vain.

4. Take that, uncle Steve! WHO'S INVESTING IN SILLY INTERNET MONEY NOW??

Wow, ok. Where did that come from?