Preview Mode Links will not work in preview mode

Bankless


Oct 30, 2023

Many of our listeners are familiar with Li Jin, an investor and co-founder of Variant Fund and is one of our favorite thinkers on crypto and the creator economy. Li is also joined by Eugene Wei. He’s a web2 product visionary. Listeners may be familiar with some of his incredible blog posts such as, “Status as a Service”, “Invisible Asymptotes”, “Why Information Grows” and more. 

In today’s episode, these two gigabrains, one from web2 social, one from web3 crypto, talk about the future of status as a service, psychological ownership, and the future ties between social and crypto. 

------
✨ DEBRIEF | Ryan & David unpacking the episode:
https://www.bankless.com/debrief-li-jin-eugene-wei 

-----
🏹 Airdrop Hunter is HERE, join your first HUNT today
https://bankless.cc/JoinYourFirstHUNT 

------
BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q4  

🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING
https://bankless.cc/MetaMask  

⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum   ⁠ 

🔗 CELO | CEL2 COMING SOON
https://bankless.cc/Celo 

------
TIMESTAMPS

0:00 Intro
8:00 Web2 Social History
18:55 Is Web2 Ending?
24:50 Network Effect Theory
27:45 3 Paths to Break Free
32:17 The Internet’s Good, Bad, & Ugly
41:48 The Algorithm’s Constraints
46:25 Web2 to Web3 Learning Lessons
54:40 Love vs. Fame
1:00:24 Web3’s Potential
1:07:00 Crypto's Social vs. Financial Problem
1:19:30 Ethereum’s Social Network
1:25:14 Increasing Psychological Ownership
1:31:25 Price vs. Psychological Ownership
1:35:00 Eugene’s Advice to Crypto Builders 
1:42:00 Li’s Take on Crypto’s Potential
Closing & Disclaimers 

-----
RESOURCES

Li Jin
https://twitter.com/ljin18
https://li.substack.com/p/the-ownership-economy-2022 
https://www.youtube.com/watch?v=N6AJlmB2h8k 
https://li.substack.com/p/building-psychological-attachment  
https://li.substack.com/p/love-vs-fame-a-framework-for-social 

Eugene Wei 
https://twitter.com/eugenewei 
https://www.eugenewei.com/blog/2019/2/19/status-as-a-service 
https://www.eugenewei.com/blog/2018/5/21/invisible-asymptotes  

-----
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures