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

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.  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.  ------ ✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-li-jin-eugene-wei  ----- 🏹 Airdrop Hunter is HERE, join your first HUNT today https://bankless.cc/JoinYourFirstHUNT  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE ⁠https://k.xyz/bankless-pod-q4   🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING ⁠https://bankless.cc/MetaMask   ⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum   ⁠  🔗 CELO | CEL2 COMING SOON https://bankless.cc/Celo  ------ TIMESTAMPS 0:00 Intro 8:00 Web2 Social History 18:55 Is Web2 Ending? 24:50 Network Effect Theory 27:45 3 Paths to Break Free 32:17 The Internet’s Good, Bad, & Ugly 41:48 The Algorithm’s Constraints 46:25 Web2 to Web3 Learning Lessons 54:40 Love vs. Fame 1:00:24 Web3’s Potential 1:07:00 Crypto's Social vs. Financial Problem 1:19:30 Ethereum’s Social Network 1:25:14 Increasing Psychological Ownership 1:31:25 Price vs. Psychological Ownership 1:35:00 Eugene’s Advice to Crypto Builders  1:42:00 Li’s Take on Crypto’s Potential Closing & Disclaimers  ----- RESOURCES Li Jin https://twitter.com/ljin18 https://li.substack.com/p/the-ownership-economy-2022  https://www.youtube.com/watch?v=N6AJlmB2h8k  https://li.substack.com/p/building-psychological-attachment   https://li.substack.com/p/love-vs-fame-a-framework-for-social  Eugene Wei  https://twitter.com/eugenewei  https://www.eugenewei.com/blog/2019/2/19/status-as-a-service  https://www.eugenewei.com/blog/2018/5/21/invisible-asymptotes   ----- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures