34 - The Internet Cooperative | Jesse Walden
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 12 October 2020
⏱️ 101 minutes
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Summary
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The Ownership Economy | Jesse Walden
Jesse Walden speaks about 'the ownership economy', in which value is returned to the producers via a protocol by compensation codified in its core.
YouTube, Facebook, Twitter are now extracting more than they are providing.
Can Ethereum and DeFi solve this? How can Ethereum host an internet-sized cooperative, like REI? How can token ownership create a larger tent, that can scale organizations past previous limits?
We also discuss Jesse's 3 theories for how crypto will be adopted, and which one he believes will come first:
- The people come, Bank the Unbanked!
- The institutions come, WallStreet wants part of the global casino - The economy comes, non-financial apps create a “real economy"
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Actions & Resources:
Read Jesse’s articles:
The Ownership Economy thesis https://variant.fund/the-ownership-economy-crypto-and-consumer-software/
The Ownership Economy in DeFi to date https://variant.fund/how-does-defi-cross-the-chasm/
Progressive Decentralization vs. Fair Launch https://variant.fund/progressive-decentralization-a-playbook-for-building-crypto-applications/
Business Models in Crypto https://variant.fund/cryptos-business-model-is-familiar-what-isnt-is-who-benefits/
Check out our Meet the Nation with RAC https://www.youtube.com/watch?v=vZMQcjLzx7s&t=848s
Five-star reviews to help grow the Nation!\
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Transcript
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| 0:00.0 | Welcome to Banquist, where we explore the frontier of internet money and internet finance. |
| 0:18.8 | This is how to get started, how to get better, and how to frontrun the opportunity. |
| 0:23.0 | This is Ryan Sean Adams. |
| 0:24.0 | I'm here with David Hoffman, and we're here to help you become more Banquist. |
| 0:29.5 | David, how are you doing this episode? |
| 0:32.2 | Really, really optimistic about the future of Ethereum, specifically from what Jesse talked about in this podcast. |
| 0:40.3 | And I think this is going to be another one of the Banquist podcasts, where you can take it to your friends and family and show them exactly what it is we are doing here. |
| 0:49.7 | Because in addition to the DeFi, DGEN, yield farming that we're doing, we're also doing something much grand or much more meaningful. |
| 0:57.6 | And that's the thesis that Jesse brought in this Banquist podcast today. |
| 1:01.3 | So this is a great episode just to illustrate why we are all here. |
| 1:05.7 | I felt like this was an entirely new lens than what we usually talk about on Banquist, which is a bit more finance and economy economic, |
| 1:16.5 | like more money related, I suppose. |
| 1:19.7 | But this one, I think you're right, did feel like it has something for people who aren't finance geeks, |
| 1:26.0 | and don't really care about yield and return, and in all of these financial terms, they'd rather have their CPA handle that for them. |
| 1:33.7 | And this is talking about the real economy, the ownership economy, on top of this banking layer and this property management system that crypto has essentially built. |
| 1:46.4 | So I think it's super exciting and also a lens that we don't often see on Banquist. |
| 1:54.2 | I'm going to be thinking about this episode for a while. |
| 1:56.2 | What were your takeaways, David? |
| 1:58.6 | Yeah, my big takeaways, and this is just a fantastic continuation from our previous episode with Amin and Kevin about MoLock, |
| 2:05.1 | because the MoLock conversation is so relevant here as well. |
| 2:09.3 | What Jesse is doing with his fund variant, he's trying to solve coordination. |
| 2:15.1 | And he thinks that what we can do with DeFi, what we can do with tokens specifically, is coordinate among a wider set of participants. |
... |
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