"Chris welcome to the network State podcast hey bology how are you great to be here you know you and I have been talking crypto for like 10 years and it's kind of like raising a child together so you'v..."

"I'm glad you wrote this book because it's kind of like crypto 101 2024 I think if people ask me what this crypto thing is all about I can just point them to this and this will be sort of a onboarding ..."

"you know that that that blockchains and crypto are about kind of you know decentralizing various internet services and returning power to um users and software developers and creators and kind of the ..."

"I'm hoping is a sort of first principles you're you know open-minded but don't have the background in this I do a brief um uh history of the internet in the beginning with a specific fol I mean and it..."

"on on you go ahead and ask question I I just on on that actually so just to digress on the topic of writing for a second you know what I found hard about writing a book and right now I'm doing the sec..."

"redundancies like it's really annoying when you're reading a book and you're like they explain something twice or they overe explain it sort of the second time right like has it been explained enough ..."

"yeah go ahead yeah it's so sorry finish finish your thought because I'll tell you no but you're right like I just had no idea that like the pure length of it I guess it meant like I couldn't keep it i..."

"whole and maybe drill into those sections a bit go ahead yeah so and and and maybe just to give a little bit of context you know I got into the internet sort of late 90s and have spent my entire caree..."

"meant that first of all you know creators political dissidents activists whoever they might be had the ability to go do something right and like put up have their own little plot of land and as long a..."

"you're just there at their discretion and their whims yes and and yet your username is becoming as important if not more important than your real name and I mean most messages that come into you are c..."

"up until that point which one which one uh but RSS did oh yeah yeah RSS was legit yeah yeah if you go back like I was going back and looking at my early blogging like my whole blogging career beginnin..."

"bring that up is that's why I was a little surprised when you mentioned RSS because RSS was certainly good for uh like static content distribution but the moment you you wanted Dynamic content you had..."

"that don't work on the internet that aren't internet investors like me and things don't realize um how much subsidization has gone into the building of social networks and so the example I use in the ..."

"today with corporate networks right like it's we we've bizarrely you know it's like as if AT&T got to decide who made phone calls and who gets to uh how and and they get to take you know anytime you c..."

"is that you can revisit every protocol and then you say what does it look like when you can add Global State yep right so for example what does bit torrent look like with a blockchain and for Discover..."

"there in that space of things right yeah I think you could go both ways you could start like I list some of them in the book but there and I you know I didn't bunch of research on this but I mean ther..."

"from another standpoint as well which is one of the good consequences of all of that you know let's call it subsidization buildout and whatnot is the user interfaces for something like YouTube or Twit..."

"like like the same way the handle of a cup is a natural fit once all of those billions of dollars have gone into just perfecting how Twitter looks how uh how YouTube looks every new video site can cop..."

"the web 2 you know WhatsApp Facebook Twitter are you know approaching the the perfect or Pinnacle of design and user experience they've done a great job on that look they've also done a great job just..."

"at the time I mean you know one way I put it uh you remember the unibomber you know in the early 90s right yeah okay so unibomber he blew all these people up but why did he blew these people up he ble..."

"amazing right now now the problem is screen time it's too much time online not not not enough seven seven hours a day yeah coming back to what you were saying I mean uh and then let's go through the b..."

"them I think I think people are are starting to see the value of that but like I would add to me you just described one of the user facing kind of improvements I think there's also like a very importa..."

"so I would just add to your point like I think there's adding tokens and financial things but I think there's also adding composability in developer fa features it's like the Chinese you know the Roma..."

"think we're very early in this development oh yeah I I think I mean basically what happens is I I don't think it's magical at all in the sense of if we go and just look at you know when any one of the..."

"edits push to you and it's really rich and so you can index it and so on and it's open and it's public so it's as structured as the web 2 style databases but it's as open as a web one style web and so..."

"internet sustainable like you you don't want an internet where people don't want to put their stuff online like that's just not a good good internet right I agree with that and I think what's interest..."

"um and so you know why is that I mean there's a bunch of reasons including graphics cards and just video games designers are great but a big part of it is they were very um uh they they essentially mo..."

"actually good to push status signaling to Virtual Goods because it removes it from physical goods and so then you decouple the dispensable online signaling from the dis you know right um yeah I mean i..."

"Oculus all make that real Chris early Oculus investor as well and so we're living in these you know increasingly Virtual Worlds we're spending a lot of time online we're earning these digital chachis ..."

"the way ranking works right so like I hey now now substack links are are demoted um and the fact that the the probably the most consequential in my mind that that's overlooked is the fact that they co..."

"that point for whatever reason like the entrepreneurs were viewing it more as like a Marketplace because remember how social networking started right it was it was not user created cont like Facebook ..."

"service you they can't they can't remove it from you right so it's like look we're used to this concept in the offline world like it's property rights right in the off imagine a world where instead of..."

"with the web and email there were laws govern it you can't put up a website that does illegal stuff you know you get you go to jail and that's the way it should be but we don't have a separate tribuna..."

"everybody they don't actually have a real option Beyond just clicking yes in the train service now they do yeah both users and creators so example Tik Tok what happened is you know they kind of rose u..."

"their Dominion right um the network effects like I'm all for businesses competing but like look how web hosts compete they compete on features service price like AWS competes on in my mind on good goo..."

"these I think what we have now these five monopolies who run rough shot over everybody it is it's definitely a pain to withdraw from AWS but it is also something where they know their customers are de..."

"it's Community ownership it's algorithmic ownership like an algorithm can now own property even a robot like a physical robot can you know have ownership so you know talk about that you touch on each ..."

"I mean in fact just to compliment what you're saying is I think that they're like the third operating system because you had the operating system you had the web browser which is OS of web 2 and the b..."

"right like who who are your who's going to put video on there they don't exist yet right um but that so YouTube was the native video right and the and the ones that were doing like the CBS content lik..."

"communities who can just go out and evangelize it right I love that idea it's a really cool idea we made a few Investments it's still early and like no no one has proven it yet but like that's the kin..."

"user base that actually was qualified in rocket science and attach 10,000 bucks to it right and so that would work if they had a crypto resume and they had like nfts in there that proved that they had..."

"wonderful that the internet was sort of created in this Bottoms Up um open source way but as one of the byproducts of that they were just kind of missing pieces and like payments was one of the missin..."

"exciting to you what what kinds of things yeah and just if I can make one note about the book for the for the listeners is that I wrote the book although it's a book and it's meant to be read beginnin..."

"specific specifically run AI like it's a little bit we were talking about pay walls but you know the the the internet has operated on this implicit economic Covenant between distribution namely search..."

"needs to be rethought I talk about sort of metaverse and video games metaverse is one of these you know kind of jargony words yeah but you know what it's it's real I mean like that's the funny thing b..."

"that's a critical question and you know it's interesting I have a I I talk about it because um Tim Sweeney the founder of Epic and fortnite has a great podcast I I cite the podcast that's in my endnot..."

"you know kind of like me getting into the political aspects or what have you kind of kind of a different lens you know awesome all right so book comes out January 30th yeah January 30th yep anything a..."

"like these are and this actually we didn't really talk about the policy side but if I could just briefly the sure of course I think part of it is you know like the to me the right way to do to think a..."