Some Thoughts of Web3

Posted on my Twitter.

Some thoughts on this episode from @tferriss @cdixon @naval.

#542: Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs

This episode really covers so much information. In addition to crypto-technology, I would like to share my thoughts on the creator economy.

Creators

Decentralized organization such as DAO provides a platform with complete transparency, traceability, and flexibility. One good thing for creators is that the friction of creating is greatly reduced. The creators are able to focus on the content instead of dealing with various agencies. Low friction generates high productivity and thus high quality, which is what creators really want and need.

Without having to pay a cut for agency fees, the creators will get more financial reward. This is a good thing. But advanced contracts or protocols need to be developed to prevent from piracy and copycat issues. Originality needs to be seriously protected.

Memes

A meme will be the minimal unit transmitting the web3 information. It is a cultural token. Memes are not only the funny emojis, but a spreading range of intermediary such as books, audio, video etc.

Memes are contagious because they are short and easy to be memorized and spread. They contain narratives awaking people’s consensus. Like a gene, a meme is a replicator keeping reproducing itself as long as the narrative exists. The winner of the battle means the longevity of one meme.

Collaboration

Memes are powerful and will be more powerful with the collaboration of creators. More creators create more contents. More contents create more memes. More memes attract more creators. This establishes a loop.

Within the system creators build a network where memes wire them together. The collaboration creates a product whose owner is everyone using it. And a meme can also be a meme’s meme—a remix of memes. More creators, more memes, higher quality, and finally more power.

Life

What is valuable in the post-scarcity world? Time. Time gives us the abundance to explore the world and make mistakes. The real freedom is not about money but wealth. It is the ability to control our time. Save your time to valuable things instead of mental drugs.

As Chris mentioned in his blog: Climbing the Wrong Hill. We are all shortsighted focusing on the local optimal solution. But the long-term global optimal answer is a different one with higher value. We earn temporary rewards in short-term games. We earn weighted and compounding rewards in long-term games. See the forest not the trees.

Wandering

One fascinating thing about Web 3 is its freshness. This means the system and tools are newly developed and are constantly iterating. Even most of the attempts will fail, the experiences are left with great values.

Web3 is like a digital Jurassic Age. Oxygen(enthusiasm) reaches a high level and all creatures(web3 players) competes and collaborates with a concrete consensus—decentralization is happening. Everyone is an owner and explorer leading each other. Where will this lead us to? Just do it and the future will give us the answer.

Last but not least

Exercise, meditate and stay healthy. Physical health is the foundation of digital wealth.