166 - Leaving Web2 with Sriram Krishnan

Bankless

Tech News, Technology, News

4.7 • 1.2K Ratings

🗓️ 10 April 2023

⏱️ 97 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sriram Krishnan is a GP at a16z Crypto and a defector from Web2 to Web3. Formerly a Product Lead at Facebook, Twitter, and Snapchat, Sriram has seen basically everything there is to see in the world of Web2, and especially Web2 social. He also hosts a podcast with his wife covering tech and internet creators, so he knows a thing or two about the world of creators, internet social platforms, and crypto.

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✨ DEBRIEF | Unpacking the episode:
https://www.bankless.com/debrief-sriram-krishnan

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What’s broken about Twitter, Instagram, and Facebook? And how can it be fixed? Can it be fixed? Sriram has many profound ideas.

Growing up in a small town in India with little opportunity, Sriram used the internet to change the course of his life. Now he worries that these same opportunities won’t be available for the next generation. He believes Web3 is the only way to keep the internet full of opportunity for the next generations.

In today’s episode, we cover why Sriram defected from Web2 to Web3, why Twitter can topple world governments but can’t sell ads effectively, why every social media network has to start with status, how crypto and AI intersect, and much more.

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Topics Covered

0:00 Intro
7:14 Eliezer Yudkowsky
8:19 Sriram’s Thoughts on A.I.
11:35 Sriram’s Background & North Star
16:10 The Early Internet Explained
19:54 The Permissionless of the Internet Today
22:18 What Are API Keys?
25:55 Towers vs. Townsquares
28:24 TikTok Hearings & Web2 Solutions
36:13 Twitter
43:25 New Age of Twitter
49:29 Web3 Social Tour
1:02:46 Overcoming Web2 Network Effects
1:20:20 How to Crypto-Pill Elon
1:22:38 Web2 Pausing Web3 Adoption
1:26:32 Future of Creators
1:30:25 Web3 & Creators
1:35:06 Crypto & AI
1:40:33 Sriram’s Closing Arguments
1:42:22 Closing & Disclaimers

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Resources:

Sriram & His Wife’s Podcast
https://www.youtube.com/@AarthiAndSriram/videos
https://www.aarthiandsriram.com/

Sriram’s Twitter
https://twitter.com/sriramk

Eugene Wei’s Status-as-a-Service
https://www.eugenewei.com/blog/2019/2/19/status-as-a-service

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures

Transcript

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0:00.0	Welcome to Bankless, where we explore the frontier of internet money and internet finance.
0:11.2	This is how to get started, how to get better, how to frontrun the opportunity.
0:15.2	This is Ryan Chon Adams.
0:16.2	I'm here with David Hoffman, and we are here to help you become more Bankless.
0:21.0	What's broken about Twitter, Facebook, Instagram, and how to fix it.
0:25.5	With Sri Ram Krishnaan, this is somebody who's been on the inside.
0:28.6	He is an internet optimist.
0:30.3	He's a guy who grew up in a small town in India with a little opportunity and used the internet
0:34.8	to change the course of his life.
0:36.3	Now he worries that these same opportunities won't be available for the next generation.
0:40.2	Sri Ram thinks Web 3 is the only way to keep the internet full of opportunity for future
0:45.4	generations.
0:46.4	A few things to take away from this episode, of course, you know we're going to talk
0:49.3	about Web 3 and the transition from Web 2 to Web 3.
0:52.9	But this is number one, why Sri Ram defected from Web 2 to Web 3.
0:57.5	Remember there's an API key, something is broken.
1:00.1	He says, what does he mean by that?
1:02.1	We get into that in that episode.
1:03.1	Number two, why Twitter can topple world governments, but can't sell and add.
1:07.0	We talk about that.
1:08.0	Number three, we ask the question, does Web 2 have to lose in order for Web 3 to win?
1:13.4	Number four, we talk about what every social media network has to start with.
	...

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