Don't tell investor Li Jin that Web3 is dead

Channels with Peter Kafka

Vox Media Podcast Network

Business News, News, Tv & Film, Technology

4.4 • 585 Ratings

🗓️ 26 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investor Li Jin helped popularize the idea of the Creator Economy — the theory that many people who make stuff online could and should get paid for that work. Then she merged that pitch with an embrace of crypto/Web3 — and by 2021 the New York Times was calling her the “It Girl in venture capital.” Now many of the people who embraced both creator economy investments and crypto want nothing to do with that. But not Jin, who says she’s still all in. She talks to Recode’s Peter Kafka about launching a fund in a pandemic, riding out a down cycle, and what it’s like to be the face of thesis. Featuring: Li Jin (@ljin18), Co-Founder & General Partner at Variant Fund Host: Peter Kafka (@pkafka), Senior Editor at Recode More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape. About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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1:00.7	this is recode media with peter kofka that is me today i I'm talking to Legion. She is the,
1:12.0	alternately the godmother of the passion economy. What do the New York Times call
1:17.4	you? The It Girl of Venture Capital a couple years ago. What's your formal title,
1:22.2	Legion? So I'm the general partner and co-founder of Variant Fund, where a Web3 investment firm investing in all things across the Web3 stack.
1:34.0	Thank you for coming on.
1:35.3	I wanted to have you on because we talked last year.
1:37.8	I was doing a Web3 explainer probably literally about a year ago.
1:42.0	Web3 was very hot.
1:43.3	I was trying to explain it to a normal person and I wanted your insight on it. As people who listen to this podcast know, there is a lot less popular interest in Web 3 or seems to be. My understanding is certainly on the VC end. There's a lot less interest in that. And while I spent a lot of time on this podcast talking about what's coming down the pike, I always think it's useful to review back a bit.
2:02.3	And I wanted to talk to you about Web 3, what happened, where it's going.
2:06.7	And to go even further back, I think before you were talking about Web 3,
2:11.3	you were best known as someone who was really advocating on behalf of the creator economy
2:17.1	or passion economy. I think those
2:18.3	things emerged together. So I wanted to talk to you about all of that and where things are
	...

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