“Part of it’s architectural. If don’t have a blockchain, you don’t have code that locks them into it. If you build on Ethereum the code is locking you into certain commitments”
In other words, unlike BigTech, blockchain’s trust is coded into it. No need to trust 3rd parties.
“But it’s also… [if you’re a CEO] you ultimately report to shareholders. Those shareholders want you to maximize profits. And that, I believe, is fundamentally inconsistent with maximizing the health of the networks”
“I think that corporations & networks are fundamentally misaligned. The corporation is going to want to grab more of the money & close off the network.”
“What the people on the network want… is openness.”
“The people feel this [misalignment] viscerally”
“A lot of these creators who were early to build YouTube up — are now at the whims of the algorithm — at the whims of the company.”
“They get demonetized, they get the take rates [commission] changed.”
“And they feel this viscerally. They were part of this network creation. And they should’ve been part of the governance & the economics of the network but they aren’t”
“With Web3… we can fix that.”
“We can build networks where there isn’t a corporation that needs to increase the take rate & shut down access… where the users & the developers on the network can participate in the value creation & the governance of those networks”
TLDR: Web3 (blockchain internet) ends censorship & woke capital AstroTurfing.
It decentralizes the money flow.
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Sam Hyde said in a podcast that “we’ve had enough redpills.” He recommended creating a burner Twitter where you only follow crypto accounts.
He said it was great for both psychology & finances. I did this, & can recommend it.
Voting is still important, but IMO people overestimate the importance of elections & underestimate the importance of having completely different economic & technological foundations for making money & communicating.
We seem to be on the brink of an enormous transformation.
In 2018, like most normal people, Ron Klain was planning highly detailed BioSecurity scenarios of how to marshal a public-private consortium to respond to a global pandemic
The Pope appointed Jeffrey Sachs to the Pontifical Academy.
Sachs, who’s most recently focused on UN 2030 Sustainable Development Goals, advocates “reducing high fertility rates” by contraceptives & “keeping girls in school”.
There has been a successful, globally coordinated effort to make all Western leaders loyal to the “Impact Economy”, “UN 2030”, “Sustainable Development Goals”