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Getting a bit concerned about one of the most most prominent Web3 success stories. https://t.co/O8gOm5mowG
— Kevin Werbach (@kwerb) July 29, 2022
brave to name your company after the main ingredient in a balloon https://t.co/Kdh8c0pIxD
— can duruk (@can) July 30, 2022
Crypto darling Helium lying about Lime and Salesforce using its network is hilarious. And A16Z, which just pumped another $50+m into it, surely knew.
— Ryan Singel (@rsingel) July 30, 2022
The danger here is a smart lawyer getting a class action suit for Helium hotspot users, who were misled. https://t.co/dR7yOL5zzn
This is the number one company people point me to as a Web3 use case… https://t.co/V6ZQZrZBxW
— Tim Fernholz (@TimFernholz) July 29, 2022
"According to Lime, The New York Times did not reach out to the company to confirm the partnership."
— Jacob Silverman (@SilvermanJacob) July 29, 2022
https://t.co/xBqgAloBoS
This is a good piece. Helium is a darling of the web3 paradigm, but it turns out that one key claim about its customers simply isn't true: Lime isn't a customer. And while the tech looks interesting, the coins are worthless and there's no return for the miners. https://t.co/zcHJwkA2cG
— Kate Bevan 🇺🇦 (@katebevan) July 30, 2022
- Helium's main product: its wireless network
— Matt Binder (@MattBinder) July 29, 2022
- turns out that doesn't have many customers
- most of its revenue comes from entrepreneurs who buy hotspots from Helium in order to earn crypto
- they only earn crypto if the wireless network has customershttps://t.co/DMfgZUXGat
Another tough piece about Helium.
— Joe Weisenthal (@TheStalwart) July 30, 2022
This is an important lesson for any crypto/Web3 founders: If your project doesn't have any substantive purpose, nobody can claim that it's not living up to its goals. https://t.co/hMAlJh9M9y
that “old archive version” of Helium’s website is from roughly 16 hours ago
— Matt Binder (@MattBinder) July 30, 2022
Helium removed mentions of Lime (and then Salesforce) from its website yesterday evening as a direct result of my reporting: https://t.co/DMfgZUXGat https://t.co/JrKvuW1x1C
This is another product where even if it was a good business idea, it’s not clear why you wouldn’t just use cash. It’s Xfinity hotspots where people pay if they use your bandwidth versus your cable provider just turning it on by default.
— Dare Obasanjo (@Carnage4Life) July 30, 2022
Why is paying you tokens vs cash better? https://t.co/L3ooX4BzP5
Maybe there’s a use for crypto after all? Uh, maybe not. @kevinroose wrote a glowing article about Helium in the NYT and never even bothered to check if Lime and Salesforce were actual Helium clients. Turns out neither of them were. https://t.co/AhBEdeHdED
— Amy Castor (@ahcastor) July 30, 2022
this is a great scoop, and also, befuddling that lime didn't bother saying anything as this company was hyped to regular people swept up in the web3 hype https://t.co/vaMSPyCQzg
— Max Chafkin (@chafkin) July 29, 2022
my report on Helium misrepresenting a partnership with Lime for years has made its way to Helium's official subreddit
— Matt Binder (@MattBinder) July 29, 2022
read the piece here: https://t.co/DMfgZUXGat pic.twitter.com/rXD3XQv3IV
something something hot air joke something something https://t.co/j7SN22mM00
— dan 'thoughtful grunge' seifert (@dcseifert) July 29, 2022
OK, let’s talk about that big Helium story - Stacey on IoT #DigitalTransformation #IoT CC:@sallyeaves https://t.co/brmzh76xAJ
— 𝙳𝚒𝚐𝚒𝚝𝚊𝚕𝗧𝗿𝗮𝗻𝘀４𝗺💻🤖 (@digital_trans4m) July 30, 2022
Great read. First comes a network, then sensors and then the real applications and use cases. Time, patience and grit = @helium https://t.co/tkCnLE1JCt
— Abhijit Ganguly (@AbhijitCVC) July 30, 2022
"(Helium) Nova Labs is performing a big experiment in market-making and cryptocurrency at the same time. Each is difficult, but its attempt to do both at the same time is fun to watch" (#LoRaWAN)https://t.co/zmIS2B5tjU
— Lup Yuen Lee 李立源 (@MisterTechBlog) July 30, 2022
Interesting take on the Helium public LoRaWAN network saga from Stacey on IoT:https://t.co/5vUm4vpjN6
— akiba (@freaklabs) July 30, 2022
Stacey on IoT: OK, let’s talk about that big Helium story: https://t.co/2G8YR1mjH5
— Stacey Higginbotham (@gigastacey) July 29, 2022