A Positive Attention Economy with Adam Helfgott from MadNetwork
Adam much joining us. Thank you so much for having me really excited. Approach me too and so for those viewers who might not be familiar with who you are. You want to get a little background of who you are. And how you got into blockchain short You know. I'm a kind of serial entrepreneur. Built the built sold a bunch of companies in the regular internet land I company was a god put summer camps online back in nineteen ninety nine and then you know how to fashion startup thousand six but in in Right around when bitcoin came out i saw early. Read at posts and whatnot and Was fascinated by it and I read all the posted. All this stuff. And i didn't quite running a business at the time and quite have the energy to really put up minor unfortunately back back in the early but You know kind of kept tabs on on the project that was declined back in the day and slowly got more and more into it. Invested saul invested sold but started getting really into technology and seeing what the technology can do right around the time of the cerium. Ico where i started doing some consulting work for other blockchain projects that were commercial. Land trying to do concept's flory be credit card companies and things like that helping. I'm a product guy build technology. I really know how to make products for the enterprise and helping you know various early projects and companies apply. What i know into what they know and make things it might might start in in crypto. Just have a firm belief that you know. Blockchain's are as important as Intervention as like the transistor was And like the same gonna take a long time for that kind of integrated change society but the cooler and more fun stuff that exists after. It'll happen so i find it interesting. Because i speak a lot of people in these conferences and it seems that this is a pretty common background people who are serial entrepreneurs who who were involved in the early adoption of the internet days building things on the internet and it seems a lot of those people people are now also in our building on blockchain and has been endless. Powerless draw between the two in terms of growth in the early days and adoption and the protocol layers. And this and that Do you find you mentioned you compared to two transistors And that's more of a tradition obviously a hardware but that that spawned obviously the computer age. And it's interesting you go back that far. I mean most people. I find compared to the internet. Why why did you feel Why do you view it as transistor and as the comparison for that more so than kind of this connective technology of internet. Yeah a question. So so the way. I look at it is the transistor was like the beginning of no allowing like automation With with basically build like to restart replacing humans with technology. Old computers were like rooms of people that had different that like that. There is like a person that they said caters. The here's the problem. We're trying to solve when break it down and give it to like this department. Solve this equation is that and then the output will come out some consolidation. That was a computer is a bunch of people and the same way. Like what we can do with blockchain's which is automated trust transactions and Whole slew of other types of automation. It's foundational piece in like beasley humans to do more Now that's how. I view it in that way there. So you know. Pcp is a layer on top of what transit software blocked our software. But it's cryptography itself as math and it's kinda you it's it's hardware you mentioned early on in this conversation that you're the product guy and i think that's a very product Answer very product focus. Answer now i think it's very fitting unique perspective on this industry and obvious technology because i mostly You know talking to the dreamers. But it's nice talking to the doer. You know definitely get that. You're the founder of the man network of. You're wearing any matt hive sweating to break down a bit. What is the madden network. Yes so so mad network is kind of like the is like the way i vision products and companies and things like that is like You know if. I'm going to be successful at something i need to kind of hold onto it kinda. Pull myself into it and the team into it. Right and ran network is a envisioning how organizations interact with each other in a in a high speed trusted way so You know the the way My my co-founder. Tom and i look at it. Is that that the advertising industry kind of paid for the internet to be built. You know google and facebook and all that kind of stuff like that like what we have now. The internet was largely the infrastructure built out because it was commercially viable to do that. Other months the government's they only go so far. And we kind of see it the same way for for blockchain right so. The advertising industry is kind of decentralized in the business version right. You're a media channel tons of other media channels. They're not. We're not all own jet by one company off the author interact with each other in pseudo trusted ways or else it all falls apart right and so you come up with all these standards in ways and you know in television sign affidavits and we go to court semi like a testings and so all that can be done with cryptography. We save a lot of times. They a lot of money. Smaller media channels can make more money. Less money goes to the intermediaries all the blockchain promises that we seen over. The past bunch of years is cut out the intermediaries and blah blah blah. We need we need application need actual place. That would actually happen. We saw. I've is a commercial entity that you know builds. Enterprise software for advertising. Mad network is the underpinnings of a new way to transfer to do that. Business and the goal is to kind of like overtime a bridge. Those together you know and and not just build something and hope people adopt it but actually build product enterprises that happens to us. Blockchain's yen this problem with this problem that you're providing solution to isn't at the forefront of most people's minds you know the the the average consumer or consumer of media isn't noticing this issue. This is more if you have a media company this. This is something that having behind the scenes behind the screen even like kind of break it down for viewers people who've never even thought of this issue because you're provided a novel solution to its gonna break a little bit of what was the old way of doing business here and the ad network in house different now because blocked not different yet It's starting to be There's an immense amount of momentum about you know close to like three to four hundred billion dollars of a mental every year that powers the existing wet right and so the existing way is basically people trusting each other and we all here especially the united states with our president. That's very concerned with ratings. Waiting is right and what a rating is is how much viewership a media channel gets right and so who and is this one application but something. I think that the person has not totally indoctrinated in the media. Space with understand that you know who makes the ratings and and so you know in the united states abroad. There's a company called called nielsen in that. Probably a lot of people have heard of that. Creates these These ratings at site. How many people are watching in the way that they do that is that they have panel of fifty thousand people or so states that are nielsen homes. All that data goes to nielsen. They crunch it and they say you know this show and this station had this much viewership and what that really means is that now. what the charge that advertising. That's why like the super bowl is like so expensive. The eighty five percent of watching super bowl and probably globally as well And so but now we're and that was a model built in the nineteen fifties. That worked really really well when there's like six media channels are less four really now that we have like thousands and thousands If there isn't a very simple if there isn't a way to price your media properly you need to like hand over your keys to like the kingdom to accompany that would like one of the major social networks are one of the major search engines companies like that. That can do that for you. And they'll happily do that for you. And taking a thirty to seventy percent of your revenue as well in order to like.