Bankless 34 - The Internet Cooperative | Jesse Walden
Oct 12, 2020
Jesse Walden, a crypto investor and founder of Variant, delves into the 'ownership economy', advocating for a system where producers receive fair value. He explores how Ethereum and DeFi can revolutionize digital platforms, offering alternatives to profit-driven giants like Facebook and YouTube. Walden shares three adoption theories for crypto, with a focus on community ownership through decentralized finance. He envisions a future where cooperative models redefine user engagement, ensuring a broader reach and greater participation across digital landscapes.
AI Snips
Chapters
Transcript
Episode notes
User Exploitation
- Internet platforms extract disproportionate value from users' labor.
- Users deserve a larger share of the value they create online.
Platform Lifecycle
- Internet platforms initially cooperate with users but become extractive as growth plateaus.
- User-owned platforms offer an alternative model aligning incentives for sustained growth.
Network Effects
- Switching platforms is difficult due to network effects and coordination challenges.
- Crypto networks incentivize early participation, solving the chicken-and-egg problem of new networks.