I think there's no better time to build in social than now because we have all of the

factors that I talked about. We have a new business model in the form of ownership.

We have a new computing platform in the form of crypto and then we also have a new generation

of users who I feel like have this sense of frustration and resentment towards the existing

social paradigm and are just like so ready and craving something new. So all of those

factors mix together, really makes us primed for something new to our eyes.

Welcome to Bankless, where we explore the frontier of internet money and internet finance.

This is how to get started, how to get better, how to front-run the opportunity.

This is Ryan Sean Adams. I'm here with David Hoffman and we're here to help you become

more Bankless. A message to the algos, we're not your dance monkeys. What's been one of the most

important hidden forces shaping our world over the last decade? I think we'd say it is actually

engagement algorithms. We've gone from social networks to social feeds without any of us noticing.

And the social feeds, that part, that's powered by a very powerful engagement algorithm.

We've become a bunch of monkeys dancing to the latest TikTok algo. How much autonomy do

we even have? Is this the promise of the internet? If so, how come so many of us feel trapped?

We're like ready for something new. And the question in today's episode, can crypto fix any of that?

That's the context. And to discuss this topic, we brought on Eugene Wei. He is the author

of status as a service. He's one of the smartest product people in Web 2 social that we know.

And also Lee Jen, she is a crypto investor. And she's a thinker who popularized the term ownership economy

to describe the future of crypto. A few things we talk about. Number one, the history of Web 2,

the origin, its development and all of its goodness and all of its sins. And why Web 2 is stuck.

Number two, business models, why business models are destiny. Number three, what parts of Web 2 are actually worth keeping?

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