Listen: Building a Crypto Civilization with Balaji Srinivasan
"The CRYPTO. Don't blockchain space check them out at block workgroup dot ISO and you will not be disappointed or a welcome back to another episode of SARS Czars Unqualified Opinions on Ryan guests at two bit idiots. told you got a great season coming up this year and joined by none other than Bala Zhukova Song. WHO's now the editor in chief of Komodo in quite a bit of noise After its ambitious launch a we can have to go on the nursery of the the launch. The bitcoin network biology. I assume many people in the industry will will know and find familiar. He's been PIONEERING SPACEY'S A A serial entrepreneur was partnered injury. Horowitz founder Rose Twenty one which became earn at of course fire by coin base where he was most recently the CTO so Have Across Multiple Times Balaji at last six and a half years that I've been in the industry and he's always a treat to learn from and And the thing. I think that everybody's probably most interested in right now. Apology is what exactly is not Komodo in. Why why did you decide that this is going to be next project? You tackled but just to put a little bit more skin on the bone for my intro Love to hear your origin. Origin story within CRYPTO. In maybe like two minute version of how even got to this point and really what's helped shape your opinions at the industry so that you know that this is the next the right path for us from her totally. Yeah so thanks for that kind of Ryan one thing I might distraught by saying. Is You know crypto. Certainly important to me in it might be ninety nine percent of what your snows about but you know prior to getting crypto. You know so I Aw like I'm a PhD at Stanford at taught in Yes they're founded genomics companies sold out for three hundred seventy million also investor in like superhuman toilet lamb. Mm School you know tech startups and so on and so I do tweet about that stuff. Nero wants record Belgium which is great but but I also like genomics. I like machine learning that other stuff. I'm I'm into On on the topic of like how how. I got into crypto. I think there's excuse different threads but one of them was in doing genomics. I I learned You know what the state really was. So as as an academic unit the worst thing that the government can do basically not renew your ride the worst thing you can do is like not give you. I'm not sure it's quite different. Essentially an arbitrary decision by somebody if you think apple or Google is arbitrarily sometimes thereby decisioned and You know those are private companies. You kind of get out there and appeal on a ten x one hundred experts And that was something that I learned in that space saw some of this where they're complex to the state the and the FDA in free immune so on that that was definitely something that was an experience I realized how serious that runs. And everything of course financial crisis And one of the things I've been thinking about for a tweet about this was at. Perhaps you might want to nominate things. Things in yes. Jewel is like a fundamental currency. Because now that would be something that even if there was inflation you can say okay. How many take to assemble? Siphon that'd be so seeing about the nature of the to your question about Knock Modem itself right like what are we. I'm trying to do with the We set it up. Basically what you know when when bill of Menachem is something I said I enjoy doing. which is I enjoy in writing and teaching and learning about crypto? Back in two thousand thirteen. I had a mook course through Stanford that I think one on the first courses to teach anything about bitcoin at scale and we had the students some of those folks actually went on contribute to bitcoin. Dot Org will bins the net and so on and You know this was something which I think helped think useful on the margins busy with other things and I didn't have time to do education. It must be my first. Love is both learning and teaching. So I wanted to do something that that That I enjoy doing your number. Two is I wanted to have a way to bridge gaps with Community Fund as. We'll we'll get to you probably later in the conversation. I understand the rationale for cocaine arche but I believe encrypted civilization okay quip. It is a good question right. So so that's you know if you actually take crypto seriously and you realized how powerful it is and you realize that it is true that the crypto inherit the earth. I think that we we really want to think about what sources I want to build a twenty thirty twenty forty in You Know I. I think crypto anarchy is better than energy for sure because crypto provide. Some fainted on that. If you just look what intervenes in the dictionary of edens disorder chaos awesome all negative pretty much right trainer keep provides at least some order on top of anarchy but I think what people actually want. I mean you don't really want to trust. Look Society Dia Tressler Society meetings. When you go buy a coffee you have to go and put a dipstick in it to see that you weren't poisoned? You know that. That's bad like people who've escaped on in places in South America or you know what have you. There's there's kidnappings that's what a low trust society looks like and end And and people who escaped the size really want that on so it is good that you can have a technology functions very low trust or not trust but really right. Think of is crypto. Isn't about or should it. Be about like trusting. No on its back choice. You can trust as you move your currency out you can opt into something and so the the question what do we opted for. What is that future? We're building is at Mars or mad. Max You know and on interested Mars and I'm interested in you know be. It'd be the individual. I'm interested in technology. I'm interested in what you know what I think. The True Spirit of a Crypto is and that's want to build a community folks routes makes sense an you got off to a phenomenal start. Obvious slay you know the the Guiding Vision Post that you laid out that was one of the more popular ones. Recently in recent memory added a rallying cry of sorts for why community should should actually contribute and take seriously this new education resource and yet a very impressive list of of contributors early on sixty the top thinkers and tinkers with myspace. You know it strikes me that we kind of went through phases in bitcoin where early phase and and forum was because talk radio for the hard core developers at first and then ultimately some of the libertarian started to join and really early goal Doug investors in Bitcoin and then we kind of saw the slightly more open jumped to read with Bitcoin. Talk was still mad at in this this Oakland community. I'd say it was kind of faced too especially until the bitcoin Fort Worth and that's when things really started to get toxic because it was around the same China theory and launched. It was around the same time that other alternative assets started to pick back up in prominence. And you saw the Bitcoin dominance go from ninety percents. I think during the last bear market and gradually eroded through the boom until it fell below fifty percent uh-huh and that's when twitter really took off. Because you can trust the red for moderators anymore. Either so at least you know. Jackson twitter our objective and neutral in in the chaos of the conversation. Not promoted in some ways. It seems like it's you know full circle where you're trying to create this meritocratic crack discussion forum where individuals that actually have some treat greater able to contribute but the guiding principle has to be that. There's some type episode People aren't talking past each other ship hosting like you see on the social platforms that are just no moderation right. Yeah obviously so how. How how? How do you see this working in that kind of short medium term gets off the ground and then maybe there's a longer term question for you grow the Pie and continue to make this Vibrant community versus a wet with tend to happen. which is this community started rate it hits a certain number and it just default? Great question actually thought a lot about this Disney will be successful. At least at least I've thought about it so A few thoughts one is i. I WANNA actually discuss this Civility and the idea here is kind of like an ab St Eighty so people will call for civility in discourse and then fairly sophisticated radicals of many different liberal persuasions will argue against. And they'll say you know like like you know they'll be folks on the left and right will say Tool to control discourse it just wave for power to to censor people use want us to shut up and and sodexo normalizing bad behavior or you know allies behavior exactly right and now we have a food fight where you know like Whether Republican or Democrat or with me on the sixth burn the this You know the the distortion Straw man. Click Bait that is what gets attention. You know and tutors metabolising allies digesting but the trust it exists within society just as an example. It's you know it is completely normal. It's totally normal for someone to go out to somebody else in Detroit Just Yell F you right but but you wouldn't go to starbucks and do the inverse right like you would just go up to some random stranger. Even if overheard competition Scott them into scream at you in their face right now now you executive talking barbiturates i. I know I know a few people with encrypted might do that at a conference but maybe not to rent a trader so the the thing that I realized West is Twitter is non real life but it will be so this is the thing that's concerning to me so if we break that down then I'll come back to what cow plan to deal with the gophers probably than possible solution to the problem. I think is non trio part one of incentives on twitter. If you start fight Daqian's you've followers that keen's you likes and Tension on Bud. Ah If monetize mobile right in the real world if you start a fight Ecu's you've police attention which is often not valley however we're starting the scene with this new way of social apps kick talk and so on is just to give you a sense of escalating scary. There's a guy who's standing on the edge of a ravine and running back and forth for likes Zhang Guy who's dangerously driving on a highly expert underneath a tanker trailer risked a lot from this thing like this in an extremist. You have folks like the shooters who literally go Out there video on fortune people to give them thumbs up because humans are social animals and these folks have become acculturated. You know people talk about falling into the wrong peer group. That's what that is right. You get you know like likes going shooting somebody up or or you know dangerously driving digital about last right another for example data from the riots. That happened letting we're GONNA see a lot. More on that we are is online incentives basically radicalized people they do crazy things in the real world for the reinforcement of their peer group. So I think we're going to see actually a lot more than this. It's an edge case Mentioned right now but Ingrid's lot more works twenty s so it's in moments like that that you're like okay and everything that said we've got proof points. Everything just mentioned in a rear view mirror for one so at that point. You're like okay.."