The Wisdom Wall
6 quotable lessons, heuristics and mental models. Every one is playable at the moment it was said. No fortune cookies allowed.
“I just don't think you can build a social network where, where financial You know, where monetization or, or incentives is at the core of the network. I think people have to join these things because they want the utility of whatever the network is.”
“adding a financial incentive sort of creates this very perverse dynamic where, where sort of, you know, you want to invite 10 friends and they invite 10 friends and then the early people get all the money and then the later people don't get any of the money. And if the money is the utility, That by definition, your…”
“I just don't think you can build a social network where financial You know, where monetization or, or incentives is at the core of the network. I think people have to join these things because they want the utility of whatever the network is. And that is how you self propagate these networks. And so adding a financial…”
“Every time there's been a, you know, any efficiency gain in people discovering things, they just buy more stuff, they transact more, they do more commerce.”
“The, the thing that lost me was, was when everybody was arguing that, that what we should do is decentralize all of the infrastructure of the internet. That's just literally, it just costs more to then run every internet service. And, and it's actually not a very good database. For non sort of financial objects. So, so…”
“the data moats, uh, that, that exists now in the internet, uh, are just totally different than, than almost any other form of antitrust, you know, kind of monopolistic dynamics that I think we've ever seen in history. Like, you know, clearly, obviously if you're building what railroads and, and telephone networks,…”