#178 with Balaji - Balaji on How to Fix the Media, Cloud Communities & Crypto

You can only transfer status online. All social media platforms have become status games. The companies behind them capture all the revenue for the content created by users. 1729 takes a different approach. You still build your reputation, but you also get paid for the tasks you complete. The tasks you complete will contribute to building your veri... See more

Geographical proximity is no longer linked to cultural proximity. We don’t necessarily know the people we live close to that well. But we might know and interact with people living in other continents.

Crypto as the sequel to open source

Instagram is for people who go outside; Twitter is for depressed intellectuals.

The why behind 1729: Social networks were invented and scaled long before cryptocurrency

“Not just open-source, it is open state and open execution”

I do think that, within five to ten years, in addition to email and text message, your ENS name... or let's say crypto name will become the third most popular communication channel.

“I invest on an ideological basis. I invest in the world that I want to build” – Balaji Srinivasan

Balaji thinks you can’t abolish the FDA or the Fed, but you can exit them. You can build a parallel system that makes the old one unnecessary. Bitcoin is an example of building an alternative to the Fed.