Bankless 90 - 5 Mental Models for Web3 | Chris Dixon
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Nov 1, 2021 
In this discussion, Chris Dixon, a general partner at a16z and leading figure in crypto investing, shares crucial insights on Web3. He introduces five mental models to understand its significance across digital realms like finance, art, and gaming. The conversation dives into the evolution from Web2 to Web3, emphasizing decentralization, creator empowerment, and new economic models driven by tokens. Dixon also discusses the changing landscape of digital ownership and the role of networks in evolving economies, making a strong case for why Web3 matters in today's world.
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Web2 Incumbent Stagnation
- Web2 incumbents like Apple, Google, and Facebook dominate but lack recent groundbreaking innovations.
- Their products have become incremental improvements rather than bold new ventures.
Web3's Trustless Foundation
- Web3, built on blockchain technology, ensures "can't be evil" due to immutable code and distributed governance.
- Unlike Web2's "don't be evil" reliance on founders' intentions, Web3 structurally aligns incentives.
The Substack Effect
- Substack enables writers to earn substantial incomes, defying the narrative of internet harming writers.
- This "Substack effect" demonstrates Web3's potential to empower creators by removing exploitative intermediaries.