The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 37 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Benet: 2013-2014 blockchain thought in New York and Europe far surpassed Silicon Valley
“I think in 2013 and 14, a lot of the blockchain tech was being built in New York and Europe and far ahead of Silicon Valley. And I remember having a lot of conversations with people here in New York and Europe and just the level of thought outside of Silicon V…”
Benet: Blockchain apps will reach mainstream consumers within two years
“So I think it's gonna take about a year or two before you start seeing these things get mainstream consumer use.”
Benet: VC cannot fund deep tech needing over two years of development
“VC is not built for long-term investment in things that are
Extremely high risk and building some deep foundational technology.
VC is tuned for 10 year returns, which means that in two, three years you have to, like, show very strong you know, sign of, like, m…”
Benet: Modern private funding would fail to build an open internet today
“My claim is you couldn't build something as free and open, and that works as well as the internet today because no group would fund it.
and what you would end up with is a massively stunted version of something that is highly centralized and controlled by a c…”
Benet: Tesla and SpaceX would have failed without Elon Musk's personal wealth
“If Elon hadn't been personally wealthy, both projects would have probably failed.”
Benet: Ethereum could reach Google or Apple valuations in 5-10 years
“So if Ethereum continues to be useful five, 10 years from now, you're going to have, and continues to accrue continues to grow, right? So if Ethereum becomes more and more successful, continues to solve a whole bunch of problems, then an ether is going to be w…”
Benet: Tokenized networks are emerging as alternatives to traditional companies
“The company is fading away, or not fading away, but rather a new thing has come in, which is the network or a market that, that is not a company, but it functions kind of like a company. And so you can think of Ethereum not as a company, but rather as a, as th…”
Benet: Crypto networks reward knowledge work better than salaried employment
“You can't measure knowledge work in hours. Somebody's investment over a decade can put them into the right perspective to make the right contribution at the right time, that creates something like Ethereum or Bitcoin or whatever. And, you know, how do you corr…”
Benet: Decentralized storage nodes will beat AWS on unit economics
“Our bet there is that yes, that there's a whole bunch of places and cases where Certain individuals or groups in the world have access to either really cheap storage or storage that's positioned well in the network that is kind of like, you know, somewhere bet…”
Benet: IPFS would have died in academia's publish-or-perish model
“Really I think, like, the only option was either, ah, university or Google, and in the university case, it would have been killed in, in the, you know, publish or perish world where, like, hey, this is way too ambitious. Focus on this, like, one little thing, …”
Benet: Decentralized internet tech directly opposes Google's data control model
“I think this kind of tech is stuff that Google might be interested in funding from the perspective of Google funds a lot of protocols and funds a lot of research, but it also kind of runs counter to basic Google positions around, you know, data, control of dat…”
Benet: Computing overuses human-readable naming when cryptographic hashes are superior
“I think we have, like, this massive addiction to human readable naming where it shouldn't be used in a lot of places because it brings in a whole bunch of baggage around, hey, now you need a consensus system. Now you need, like, a network stack. Now you need, …”
Benet: Shipping physical storage to consumers may become cheaper than internet bandwidth
“Eventually we're going to get to a point where it might actually be cheaper to ship around stuff to consumers.”
Benet: Bitcoin and Ethereum enable cheap financial instruments, not consumer utilities
“What Bitcoin and Ethereum did was allow you to create Any kind of, you know, financial instrument extremely cheaply and with, you know, almost free verification of correct proceeding of this financial instrument, which is not normally a consumer need.”
Benet: Blockchain enabled software to eat finance and law
“And so it's, what's, what happened with the blockchain stuff is that software began to eat finance and law in a way that had never happened before.”
Benet: Silicon Valley only noticed crypto because of the ICO craze
“I think San Francisco and Silicon Valley got interested when the ICO craze happened.
When you suddenly had projects raising tens, you know, 20, thirty-five, hundred million dollars, suddenly everyone was like, what the hell is going on?
What's happening?
And i…”
Benet: Google Brain and X focus on shorter horizons than Bell Labs
“Google Brain and Axe are much more focused on, on shorter term Valuable things than Bell Labs was. I think both Brain and X can't yet afford to innovate on the multi-decade time scale. They're innovating in like single decade time scales on their own.”
Benet: Protocol Labs uses token models to fund protocol-layer development
“That kind of funding model allows people to remain very close to the actual protocol layer and to think deeply about the protocol itself and its concerns without having to think about a product or a service on top. So this is precisely what protocol apps' busi…”
Benet: Distributed labs with long-term funding will replace Bell Labs model
“I think this is, you probably won't see the creation of a Bell Labs like the one before. It's possible that someone like Google and so on creates it, but I think what we'll have instead is, is a much more distributed version of it, where you will have smaller …”
Benet: Crypto speculators receive far greater rewards than builders
“I'm kind of bothered by the fact that in crypto, right now, you're seeing the normal issues with capital flood in, which is that if you're a speculator that has a lot of capital, you can afford to get much greater rewards than the people that actually build th…”
Benet: Accredited investor wealth does not mean crypto technical judgment
“Having a million dollars does not mean that you know what cryptocurrency network is gonna be better, or what cryptocurrency network actually will work.”
Benet: IPFS makes DDoS attacks impossible or computationally intractable
“The other case is, hey, like, if there's some really popular piece of content, and suddenly it gets replicated to tons of people, now the DOS attack gets way harder, right? Like, now, now you have to DOS, Thousands of people. And so it's not fundamentally, in,…”
Benet: Ethereum is a better introduction to the future than Bitcoin
“It's like the best interaction to the future, I guess, than Bitcoin ever was or that kind of stuff.”
Benet: The internet must transition from location addressing to content addressing
“People want to address things by what they are, not where they are. Like, it's really time, it's kind of like, it's time for the internet to move from location addressing to content addressing”
Benet: Filecoin consensus weights storage capacity over CPU compute power
“If you want to participate in the Filecoin consensus and maintain the Filecoin blockchain what, what's counted is not your CPU raw power as your influence over the consensus, but rather the amount of storage you are providing to the rest of the network.”
Benet: Web deployment is easy only because of decades of centralized engineering
“And I would argue that it's easy to roll out a website today because you're, We're working on top of decades of centralized engineering, whereas we haven't had the same level, deep level of engineering on the peer-to-peer side.”
Benet: Adding latent storage capacity would drastically lower market prices
“Like, there's exabytes of storage that are not in use right now, and that if you were to add them to the market, you would drive the price down significantly.”
Benet: Breaking up the AT&T monopoly killed Bell Labs
“Breaking Bell apart effectively stifled and killed Bell Labs.”
Benet: Protocol Labs does not plan to monetize IPFS directly
“IPFS is not something that we plan to monetize directly. Like, IPFS is a large scale infrastructure project That happens to be at a layer where you should not put money in.”
Benet: Careless monetization can corrupt open source and destroy projects
“I'm very, very wary and careful about anywhere where money and open source gets mixed because it can get, like, really screwed up and it can kind of, like, kill projects.”
Benet: Filecoin is an enterprise cloud storage replacement, not consumer Dropbox
“Filecoin is not to be seen as a Dropbox replacement, although there will be Dropbox-like things that build on top of Filecoin. I think you should think about Filecoin as replacing cloud storage. So it's something that Dropbox would use.”
Benet: Storage miners will multi-home across networks like Uber and Lyft drivers
“I actually bet a lot of people will be mining on both networks, or like all, all, all of the networks, and we'll see how that actually plays out and then we'll see, kind of like right now, there's a lot of drivers driving for either Uber or Lyft”
Benet: Proof of Replication prevents Sybil attacks in decentralized storage
“When you have proof of replication-backed storage, that, that ensures that it is unique to this particular request, and that's a very important thing from a game theory perspective. Like, you don't want people, you don't want, like, networks of civils, basical…”
Benet: Routing local collaboration through remote data centers is flawed architecture
“You could have a room full of people with laptops open on Slack or on a Google Doc, and they can't work together because their supercomputers, which again, like, let's be clear here, like, these computers are more powerful than, like, all of the computers on t…”
Benet: Proof-of-stake is close to succeeding at scale
“We're getting ever and ever closer, and I think we're quite close to something that can succeed and work at scale.”