The appearance of @balajis on the @theallinpod was a masterclass on crypto, China/US relations, the future of media and so much more.
Balaji is the polymath of the Internet. If you don’t know him, you should.
Here are his best thoughts from the podcast:
Balaji is the polymath of the Internet. If you don’t know him, you should.
Here are his best thoughts from the podcast:
But first... How does Balaji know so much about so many things?
“Normal people go to the club and have fun. I read maths, history and science books. That’s how I have fun. I’m an academic at heart.”
“Normal people go to the club and have fun. I read maths, history and science books. That’s how I have fun. I’m an academic at heart.”
We’re about to roll back the regulatory alphabet soup that FDR set up.
The SEC is not set up to go after millions of crypto holders.
The FDA is not set up to go after millions of biohackers.
The problem is not technology - it’s the number of people they have to deal with.
The SEC is not set up to go after millions of crypto holders.
The FDA is not set up to go after millions of biohackers.
The problem is not technology - it’s the number of people they have to deal with.
These agencies will either get knocked down in court or technologically invalidated.
As a result, there’ll be sanctuary cities or countries for crypto - like El Salvador or Switzerland.
As a result, there’ll be sanctuary cities or countries for crypto - like El Salvador or Switzerland.
The US and China have vastly different state capacities.
China is a highly organized competent and ruthless state.
The US government is a chaotic mess that’s optimized for PR.
We talk a lot about China copying the US. But on a policy front, it’s really the US copying China.
China is a highly organized competent and ruthless state.
The US government is a chaotic mess that’s optimized for PR.
We talk a lot about China copying the US. But on a policy front, it’s really the US copying China.
Take lockdowns.
The Chinese lockdown had drones with thermometers and central quarantine facilities and countless intrusive measures.
The Chinese people by and large complied with this.
But the US government and people aren’t set up to efficiently execute top-down control.
The Chinese lockdown had drones with thermometers and central quarantine facilities and countless intrusive measures.
The Chinese people by and large complied with this.
But the US government and people aren’t set up to efficiently execute top-down control.
This is partially rooted in US democracy but also in widespread access to information.
In the 50s - similar to China today - the US had centralized mass media that defined the truth and manufactured consent.
Who was gonna check the facts, anyway?
In the 50s - similar to China today - the US had centralized mass media that defined the truth and manufactured consent.
Who was gonna check the facts, anyway?
China is heading toward National Socialism.
The US on the other hand is heading toward Socialist Nationalism.
China is like the new Nazi Germany. Woke America is like the new Soviet Union.
The new America will be the decentralized middle.
The US on the other hand is heading toward Socialist Nationalism.
China is like the new Nazi Germany. Woke America is like the new Soviet Union.
The new America will be the decentralized middle.
Btw, if you’re trying to understand these issues, triangulate opinions from all sides - US, Russia, India, China, etc.
Rely mostly on primary sources. For example “Reading the China dream” translates actual primary sources.
Better to read that than 10 mainstream US pieces.
Rely mostly on primary sources. For example “Reading the China dream” translates actual primary sources.
Better to read that than 10 mainstream US pieces.
Political differences aren’t public in China, but they’re real.
Mao = revolutionary communism
Deng/Hu = internationalist capitalist
Xi = nationalist socialist
Mao = revolutionary communism
Deng/Hu = internationalist capitalist
Xi = nationalist socialist
Watch the Chinese military commercial:
It all points to one man: Xi.
Xi’s consolidated power more than any other modern Chinese leader.
It all points to one man: Xi.
Xi’s consolidated power more than any other modern Chinese leader.
People often talk about how China plans for 100 years.
They don’t. They’re just human. Xi was a real leadership transition.
They don’t. They’re just human. Xi was a real leadership transition.
Most of the world didn’t pay attention to this transition, because the West categorizes countries into 3 buckets:
∙ Countries like them
∙ Developing countries are s***hole countries (typical conservative point)
∙ Developing countries are poor and need our help (wokeism)
∙ Countries like them
∙ Developing countries are s***hole countries (typical conservative point)
∙ Developing countries are poor and need our help (wokeism)
One is the condescension of the industrial-military complex.
The other is the condescension of the non-profit, NGO world (white savior syndrom)
Both underestimate countries like China.
E.g. COVID was only taken seriously when it hit Italy and France.
The other is the condescension of the non-profit, NGO world (white savior syndrom)
Both underestimate countries like China.
E.g. COVID was only taken seriously when it hit Italy and France.
America executed extremely well over the last 50 years.
Asia didn’t.
But now that Asia’s got a better OS, the US can’t restrain them anymore.
Big parts of Asia have a narrative of white colonialism. They see it as their time to shine.
But China won’t have a revolution.
Asia didn’t.
But now that Asia’s got a better OS, the US can’t restrain them anymore.
Big parts of Asia have a narrative of white colonialism. They see it as their time to shine.
But China won’t have a revolution.
The ideas that
∙ China will collapse from internal revolution
∙ The US is stronger than China militarily
...are both wishful thinking.
The future is a centralized east and a decentralized west.
∙ China will collapse from internal revolution
∙ The US is stronger than China militarily
...are both wishful thinking.
The future is a centralized east and a decentralized west.
The US has a perfect record in its war games with China: China’s won every round.
With COVID, despite its biodefense program, the US suffered a military defeat.
In Afghanistan, 2 trillion in the hole was also a huge defeat.
With COVID, despite its biodefense program, the US suffered a military defeat.
In Afghanistan, 2 trillion in the hole was also a huge defeat.
China is already dominant in Asia.
America just doesn’t really care.
But China has 10X growth ahead of it, and the US won’t be able to confront it head-on. It’s like Google in 2010.
America just doesn’t really care.
But China has 10X growth ahead of it, and the US won’t be able to confront it head-on. It’s like Google in 2010.
Whether it becomes a Chinese decade or century depends on whether or not we can build decentralized technologies to defend our freedom
e.g. encryption, decentralized social networks, etc.
e.g. encryption, decentralized social networks, etc.
One of the tools we can use is citizen journalism.
The problem we have is that US newspapers refer to themselves as the source of truth.
But they’re mostly owned by families who inherited them from their parents.
The problem we have is that US newspapers refer to themselves as the source of truth.
But they’re mostly owned by families who inherited them from their parents.
In other words, businesses run for-profit and attention determine what is true for the world.
Their truth is driven by clicks, retweets, likes, and views.
But real truth is truth we can check for ourselves.
Their truth is driven by clicks, retweets, likes, and views.
But real truth is truth we can check for ourselves.
We can’t ask the New York Times to do better. We need to disrupt and replace them.
We need on-chain fact-checking so that anyone, anywhere, can access the truth.
You and I can both check who owns how much bitcoin. On-chain facts can help identify who said what exactly when.
We need on-chain fact-checking so that anyone, anywhere, can access the truth.
You and I can both check who owns how much bitcoin. On-chain facts can help identify who said what exactly when.
Today, whistleblower rewards distort incentives.
The gvt pays money to people who help cement its power.
They don’t pay billions to Assange or @Snowden for blowing the whistle on the NSA.
Real whistleblowers reduce the power of the US gvt - and are overseas or in prison.
The gvt pays money to people who help cement its power.
They don’t pay billions to Assange or @Snowden for blowing the whistle on the NSA.
Real whistleblowers reduce the power of the US gvt - and are overseas or in prison.
The US government gaining more control over Facebook is only going to mean more backdoor surveillance of everything.
The federal government isn’t the solution to Facebook.
The solution is decentralized social networking where people control their own data.
The federal government isn’t the solution to Facebook.
The solution is decentralized social networking where people control their own data.
Edge cases (like child pornography or terrorism) are always used to attack something.
Think of Apple’s justification to scan everybody’s stuff.
But decentralized media will likely lead to 99.9% of hubs banning things most people think are wrong.
Think of Apple’s justification to scan everybody’s stuff.
But decentralized media will likely lead to 99.9% of hubs banning things most people think are wrong.
Misinformation in the official press is everywhere.
But one single source of truth that is false is much more dangerous than many sources, some of which are false.
But one single source of truth that is false is much more dangerous than many sources, some of which are false.
The first era of the internet was P2P.
The second era of the internet brought social and search. But every node doesn’t ping every other node - because it’s not efficient.
The third era of the Internet is client-blockchain-client (CBC).
The second era of the internet brought social and search. But every node doesn’t ping every other node - because it’s not efficient.
The third era of the Internet is client-blockchain-client (CBC).
Today, blockchains are not very scalable.
But @0xPolygon, @solana, etc. allow you to do a lot more onchain in 2021 than in 2020 alone.
It’s like bandwidth.
And blockchains radically simply search engines. They’re a dark horse competitor to google.
But @0xPolygon, @solana, etc. allow you to do a lot more onchain in 2021 than in 2020 alone.
It’s like bandwidth.
And blockchains radically simply search engines. They’re a dark horse competitor to google.
The conversation got cut in the middle of decentralized social networks.
But the whole thing was fascinating.
But the whole thing was fascinating.
There were a lot more nuggets from all the besties @Jason @chamath @DavidSacks @friedberg and @balajis himself.
Grateful to be a fly on the wall in a room of the smartest people in the world talking about issues that matter.
Grateful to be a fly on the wall in a room of the smartest people in the world talking about issues that matter.
On the pod, Balaji recommended the books The Truth Machine & The Gray Lady Winked (top 5 books he recommends).
And if you want a deeper dive into @balajis himself, @dickiebush did a fantastic deep-dive which you can find here:
https://twitter.com/dickiebush/status/1301241471782318080
Thank you to @balajis @friedberg @DavidSacks @chamath @Jason and the @theallinpod for making wisdom like this available to everyone for free.
This, to me, is the power of the internet.
This, to me, is the power of the internet.
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