126: Friend Tech, App Store vs. Crypto, Community Notes & ARM IPO
Aug 23, 2023
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Vitalik, Founder of Ethereum, discusses Friend Tech, App Store vs. Crypto, Community Notes, ARM IPO, and the malleability of social reality. They delve into the rise of Friend Tech, the controversy surrounding the App Store's 30% fee, and the mechanics of community notes. They also explore the history and future of ARM and discuss the power of credibility and brand names.
Community Notes provides a decentralized fact-checking mechanism on Twitter, aligning with crypto values of transparency and diversity.
The malleability of social reality can be manipulated to gain personal benefits by exploiting loopholes and influencing people's willingness to provide resources.
The upcoming IPO of Arm is expected to be the largest IPO of the year, with potential implications for the UK's tech industry and stock market.
Deep dives
Summary of Community Notes
Community Notes is a crowdsourced fact-checking feature on Twitter that allows users to append notes to tweets to provide context or corrections. The notes are written, curated, and voted on by anyone on the platform, with the algorithm determining which notes are shown. The goal is to provide credible neutrality by taking into account the voting history of users to ensure diverse perspectives. While it is not a perfect system, it aligns closely with the principles of decentralization and transparency that are associated with cryptocurrencies.
Overview of Community Notes Mechanics
Community Notes uses an open-source algorithm to determine which notes are displayed and how they are ranked. The algorithm considers the voting history of users to identify when people with differing opinions agree on a note, indicating potential neutrality. The notes are not collaboratively written, but rather the result of individual voting. The system aims to provide a credible and neutral fact-checking mechanism for contentious tweets.
Value and Limitations of Community Notes
Community Notes has been praised for its adherence to crypto values, such as decentralized decision-making and open-source algorithms. It allows for transparent and diverse perspectives, serving as a fact-checking layer on top of Twitter. However, it is not without limitations, and there are concerns about the morality of monetizing contributions and the potential for manipulation or biased notes. Overall, it is seen as a step towards credible neutrality in fact-checking on social media.
Conclusion on Community Notes
Community Notes represents an innovative approach to fact-checking on Twitter, aligning with decentralization and transparency values. While it has its limitations, including the potential for manipulation and monetization concerns, it provides a mechanism for diverse and transparent fact-checking on contentious tweets.
The malleability of social reality
The speaker shares personal examples of when they realized the malleability of social reality. They mention instances such as receiving free wood and cinder blocks for a project by simply asking for them, showcasing how people's willingness to provide resources can be influenced by simple requests. They also mention the example of tricking people into sending free CDs by sending them to an abandoned house. These examples demonstrate the speaker's realization that there are loopholes and opportunities to manipulate social systems for personal gain.
Arm's IPO and its significance
The podcast episode explores the upcoming IPO of Arm, a British company that designs chip architectures for smartphones. The speaker highlights that Arm is considered the most important tech company in the UK and reveals that it was previously acquired by SoftBank in 2016. Arm's role in the Internet of Things (IoT) industry is discussed, as well as the attempt by Nvidia to acquire Arm, which was blocked due to potential antitrust concerns. The speaker emphasizes the significance of Arm's IPO, as it is expected to be the largest IPO of the year, and comments on the potential implications for the UK's tech industry and stock market.
The NIA boys discuss Friend Tech, App Store vs. Crypto, Community Notes, ARM IPO, and much more.
Timestamps:
(00:00:00) - Intro
(00:00:41) - Meme of the Week
(00:05:31) - Friend.tech Overview
(00:14:41) - Assigning Monetary Value to Social Capital
(00:20:17) - App Store vs. Crypto
(00:31:52) - OpenSea Removing Royalties
(00:47:35) - How Community Notes Works
(00:50:15) - Vitalik on Community Notes
(01:03:15) - ARM IPO
(01:15:13) - The Malleability of Social Reality
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