Welcome to Web 3 with A16Z Crypto.

Today's episode is on a super important and timely topic.

How to design, govern, and grow decentralized networks in today's changing policy landscape.

That includes answering key questions like

why offshore foundations are so challenging

and what form should projects be using instead?

When is the right time for a protocol to flip the fee switch and start making money?

How do you structure tokens so they work both technically and legally, and more?

To unpack it all, you'll hear from Miles Jennings, head of policy and general counsel at A16Z Crypto,

and Eddie Lazaran, A16Z Crypto's CTO.

They speak with Jason Yanowitz, co-founder of Blockworks, and host of the Empire podcast, where this conversation first aired,

and which we are excited to bring to you here.

As always, none of the content should be taken as investment, business, legal, or tax advice.

Please see A16Z.com slash disclosures for more important information, including a link to a list of our investments.

Eddie Miles, welcome to Empire.

Great to be here.

Thanks for having us.

Yeah, excited to have you guys.

Okay, little context before I jump in with the questions.

So after most episodes, I usually get a few DMs or people drop questions in the Empire Telegram channel.

And usually it's from founders. They say something along the lines of, hey, I heard you in Santiago mentioned this.

Can I do this? And then I say something along the lines of maybe, maybe I don't really know. Probably you

...