194 - How Crypto Saves The Internet | Li Jin & Eugene Wei

<p>Many of our listeners are familiar with Li Jin, an investor and co-founder of Variant Fund and is one of our favorite thinkers on crypto and the creator economy. Li is also joined by Eugene Wei. He’s a web2 product visionary. Listeners may be familiar with some of his incredible blog posts such as, “Status as a Service”, “Invisible Asymptotes”, “Why Information Grows” and more. </p> <p>In today’s episode, these two gigabrains, one from web2 social, one from web3 crypto, talk about the future of status as a service, psychological ownership, and the future ties between social and crypto. </p> <p>------<br /> ✨ DEBRIEF | Ryan & David unpacking the episode:<br /> <a href= "https://www.bankless.com/debrief-li-jin-eugene-wei">https://www.bankless.com/debrief-li-jin-eugene-wei</a> </p> <p>-----<br /> 🏹 Airdrop Hunter is HERE, join your first HUNT today<br /> <a href= "https://bankless.cc/JoinYourFirstHUNT">https://bankless.cc/JoinYourFirstHUNT</a> </p> <p>------<br /> BANKLESS SPONSOR TOOLS:</p> <p>🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE<br /> ⁠<a href= "https://k.xyz/bankless-pod-q4">https://k.xyz/bankless-pod-q4 </a> </p> <p>🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING<br /> ⁠<a href= "https://bankless.cc/MetaMask">https://bankless.cc/MetaMask</a>  </p> <p>⚖️ ARBITRUM | SCALING ETHEREUM<br /> ⁠<a href= "https://bankless.cc/Arbitrum">https://bankless.cc/Arbitrum</a>   ⁠ </p> <p>🔗 CELO | CEL2 COMING SOON<br /> <a href= "https://bankless.cc/Celo">https://bankless.cc/Celo</a> </p> <p>------<br /> TIMESTAMPS</p> <p>0:00 Intro<br /> 8:00 Web2 Social History<br /> 18:55 Is Web2 Ending?<br /> 24:50 Network Effect Theory<br /> 27:45 3 Paths to Break Free<br /> 32:17 The Internet’s Good, Bad, & Ugly<br /> 41:48 The Algorithm’s Constraints<br /> 46:25 Web2 to Web3 Learning Lessons<br /> 54:40 Love vs. Fame<br /> 1:00:24 Web3’s Potential<br /> 1:07:00 Crypto's Social vs. Financial Problem<br /> 1:19:30 Ethereum’s Social Network<br /> 1:25:14 Increasing Psychological Ownership<br /> 1:31:25 Price vs. Psychological Ownership