Blockchains are much easier to search index than the open web, which is in turn easier than closed social networks.

And GPT-3 can generate better-than-search results on the fly.

So, it sounds cliche, but “blockchain and AI” really are a long-term pincer attack on Google Search.
Why are blockchains easier to index than the web? They have a single canonical endpoint & all records are in the same format. Just need to keep chain tip fresh.

Far easier than crawling the menagerie of web pages.

Which is in turn easier than getting full Twitter API access!
Why can GPT-3 (or sequels) generate better-than-search results?

It also takes a search index as input (Common Crawl), but it doesn’t just present you 10 blue links.

It does the synthesis for you, and may eventually be able to do it offline just with learned parameters.
Block explorers are search engines for blockchains, but with crypto oracles they are gradually scaling to index more content than just financial transactions.

Might be interesting for @OneMorePeter or @Nikilster to see if GPT-3-inspired techniques can improve block explorers.
To prove that blockchains are easier to index than the web, which is in turn easier than social, compare:

- block explorer
- basic web search engine
- Twitter search engine

Downloading a blockchain is a subroutine. Crawling the web is hard. Getting Twitter data is ~impossible.

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More from @balajis

7 Mar
v1: the free market
v2: there is always a marketplace operator, whether Airbnb or USG
v3: the free market in markets
When you build a two-sided marketplace or scaled social app, you take on many roles of a government.

Indeed, setting parameters for millions is also a kind of policy making, enforced digitally rather than physically.

But the feedback on error is exit/wallet, more than ballot.
Today, digital punishments like deplatforming are controversial because they are done arbitrarily, by private actors, outside color of law.

Tomorrow, pre-agreed digital punishments may be considered more humane than physical punishments, as more & more state functions go online.
Read 7 tweets
6 Mar
Disagree. By associating money with a private key, you give a literal incentive for every user to keep the key (a) private and (b) available at all times.

That’s the fundamental issue that previous PKI schemes didn’t solve at the individual level.
If you pin a post-it note with your private key to your computer, that’s available but not private.

If you write it down & keep it in a safe place whose location you forget, that’s private but not available.

So, for individuals, private AND available key storage is nontrivial.
Another way of putting it: private and available key storage for individuals is *expensive*, especially in attention terms.

Pre-crypto PKI could incentivize *organizations* to keep their keys private and available, but not individuals.

Cost wasn’t worth benefit. Till crypto.
Read 5 tweets
3 Mar
Alignment of interests, for the win.

NFTs let us expand tech-style financing into way more areas: art, music, movies, games. And not a moment too soon, as the legacy culture has lost the plot.

Create risky, pseudonymous art. Make money. Become cancel-proof. What’s not to like?
Note: I am well aware that movies and music have established financing models, & many games are funded by tech investors 🙂

But the secondary markets & degree of monetization that NFTs open up will transform those sectors and see much more in the way of tech dollars pouring in.
Btw @TheStalwart is of course right that this was not a long-standing concern of many of the new entrants to the market.

But so long as NFTs will be around for a while (and they have been in gestation for 4+ years), economic alignment will lead to more lasting future alignment.
Read 5 tweets
24 Feb
The defi matrix

As each asset class goes on-chain, it can be stored in a digital wallet. And it can be traded against other such assets. Not just cryptocurrencies, but national digital currencies, personal tokens, etc.

We’re about to enter an age of global monetary competition.
The defi matrix is the table of all pair wise trades. It’s the fiat/stablecoin pairs, the fiat/crypto pairs, the crypto/crypto pairs, and much more besides.

Uniswap-style automatic market making for everything. Every possession you have, constantly marked to market by ~2040.
More liquidity, less currency?

This is an interesting point. Cash doesn’t make you money. In fact, it can lose you money in an inflating environment.

Reliable, 24/7 mark-to-market on everything is hard — but if achieved, means less % of assets in cash.
Read 10 tweets
14 Feb
"I began to see myself less as a mirror and more as a weapon....I would call some stories kills...I got a man fired because he talked to me...he was a sweet and gentle man. I still feel sick when I think about him. And I think about him a lot." chosenbychoice.substack.com/p/learning-how…
"journalism...is about raw power...Anyone who has ever negotiated to land a contentious interview...knows that you only get those interviews when your subject fears what will happen if they don’t...Today, that fear is disappearing."
cjr.org/public_editor/…
Read 4 tweets
5 Feb
Start your own company
Start your own community
Start your own currency
Start your own city
apnews.com/article/legisl…
San Francisco sucks. You can build something better in the sands of Nevada. And decentralize tech to the rest of the world.

I’ve been working in this area for years with folks like @patrissimo @mwiyas @MarkLutter, so DM if you’re doing a project like this and seeking funding.
Tech companies: take all the money you’d have spent on an expensive office, and use it to bootstrap a city in NV.

Lower the cost of living for employees. Build an equity stake in land. Gain write access to your physical surroundings. Legalize self driving cars & delivery drones.
Read 4 tweets

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