Marc Andreessen, Chris Dixon, and Robert Hackett discuss one of the most consequential policy debates facing the crypto industry: the push for comprehensive U.S. market structure legislation and what regulatory clarity could mean for innovation, financial markets, and America's technological leadership.
They explore the CLARITY Act, stablecoins, securities law, consumer protection, and why both builders and financial institutions are calling for clear rules of the road. Along the way, they discuss the lessons of the early internet, FTX, open financial networks, and why they believe thoughtful regulation can strengthen innovation rather than slow it down.
Resources:
Follow Marc Andreessen on X: https://x.com/pmarca
Follow Chris Dixon on X: https://x.com/cdixon
Follow Robert Hackett on X: https://x.com/rhackett
Follow a16z Crypto on X: https://x.com/a16zcrypto
Why Bitcoin matters: https://a16z.com/why-bitcoin-matters/
What builders need to know about the CLARITY Act: https://a16zcrypto.com/posts/article/clarity-act-what-why-matters
Stay Updated:
Find a16z on YouTube: YouTube
Find a16z on X
Find a16z on LinkedIn
Listen to the a16z Show on Spotify
Listen to the a16z Show on Apple Podcasts
Follow our host: https://twitter.com/eriktorenberg
Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
In this feed drop from the Internet History Podcast, host Brian McCullough speaks with Chris Dixon, general partner at a16z, about his path from 1980s hobbyist programmer to one of the most prominent venture capitalists in tech. Chris traces his career from quantitative finance to founding SiteAdvisor, cofounding Founder Collective, starting an early machine learning company, and eventually building a16z's crypto practice from the ground up. They also discuss his framework for spotting unconventional investments, the current state of crypto regulation, and why New York is becoming a serious tech hub.
Resources:
Follow Chris Dixon on X: https://twitter.com/cdixon
Follow Brian McCullough on X: https://twitter.com/brianmcc
Listen to Internet History Podcast: https://www.youtube.com/@internethistorypodcast
Stay Updated:
Find a16z on YouTube: YouTube
Find a16z on X
Find a16z on LinkedIn
Listen to the a16z Show on Spotify
Listen to the a16z Show on Apple Podcasts
Follow our host: https://twitter.com/eriktorenberg
Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Chris Dixon, founder and managing partner of a16z crypto, joins Unchained to share why he believes crypto innovation is about to explode. From Ethereum’s potential to new crypto legislation, Chris delves into why the industry is poised for a major break out.
He also discusses why the Biden administration’s “lawfare campaign” led to the memecoin craze, how AI and crypto together could transform technology, and why bad tech policy stifled the industry for years.
Plus, he shares his take on the executive order signed by President Donald Trump and its significance for the industry.
Show highlights:
2:51 Why Chris feels like the Biden administration was trying to destroy crypto
7:16 Chris’s take on the Trump announcements and executive orders
14:18 What Chris would like to see in upcoming crypto legislation
21:37 How he compares the intertwining of AI and crypto with mobile, cloud and social
26:24 Whether an investing AI agent like ai16z could ever compete with A16z
32:05 How technologies usually evolve exponentially and how the AI x crypto craze will evolve
39:21 Why Chris doesn’t think the debate about whether Ethereum L2s are ‘parasitic’ is important
47:24 Chris’s opinion on whether Vitalik should be doing more marketing for ETH
51:29 Why Chris thinks native rollups on Ethereum could be valuable and promising
55:43 What he believes is important to pitch blockchain to Wall Street
59:39 Chris’s vision for a future multichain world
1:04:20 How the Biden administration’s “lawfare campaign” enabled the memecoin craze in 2024
1:08:08 Why Chris says that Coinbase has been very innovative
1:14:11 Whether ICOs are a recipe for fraud and scams
1:17:39 What apps and innovations Chris is excited about
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Polkadot
Somnia Network
Guest:
Chris Dixon, Founder and Managing Partner of a16z crypto
Previous appearances on Unchained:
A16z Crypto’s Chris Dixon on How Blockchains Can Save the Internet
Chris Dixon on How Trust Is the Best Lego
Links
Unchained:
President Trump Declares Crypto a National Priority in Executive Order
2024 Was Solana's Best Year Yet. Can It Sustain the Momentum in 2025?
Chris’ tweet on the executive order
Learn more about your ad choices. Visit megaphone.fm/adchoices
Hello Defiers! Today, I'm bringing you a very special episode from a session I moderated at SXSW this year. SXSW is a massive festival annually held in Austin, Texas, that merges music, film, and tech into an exciting blend of creativity and innovation, drawing artists, entrepreneurs, and enthusiasts from around the globe. At SXSW, I had the opportunity of leading a session with Chris Dixon, a General Partner at Andreessen Horowitz, where we focused on his recent publication, "Read Write Own: Building the Next Era of the Internet." This book is an essential read for anyone looking to grasp the essence of the Web3 movement. Dixon has a way of making complex topics accessible to all. I'm excited for you to hear our conversation and dive into the insights Chris shared. Let's dive in!0:00 Intro0:50 Panel with Chris Dixon 1:50 Read, Write, Own6:55 Tokens14:33 Hyperfinancialization19:01 Main Use Cases of Crypto27:14 Plutocracy 33:42 Corporatization in Web342:20 AI Content50:05 POS Blockchain Risks54:13 CBDC's 56:08 Future Applications✨ Check out our new website ✨
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Chris Dixon is a General Partner at Andreessen Horowitz, one of the leading venture firms of the last decade with investments in Oculus (acquired by Facebook), Coinbase, and many more. Chris also founded and leads a16z crypto, a division of the firm that he has grown from $300 million in 2018 to more than $7 billion of committed capital. Due to his many successes, Chris was named #1 on the Forbes Midas List in 2022.
In Today's Episode with Chris Dixon We Discuss:
From Founder to Leading GP in Venture:
How did Chris make his way into the world of venture and startups?
When did he realize investing was his calling?
How did Chris Dixon come to co-found Founder Collective with Dave Frankel and Eric Paley?
Lessons from 12 years Investing:
What are Chris' biggest lessons from working with Marc Andreesen and Ben Horowitz?
Does Chris agree with Doug Leone, "venture has transitioned from a boutique high margin business to a low margin commoditised industry"?
What are the two ways to win in venture?
Does Chris agree the best founders don't need their VCs?
What is Chris' biggest investing miss? How did it impact his mindset?
Are Incumbents Too Big To Be Replaced:
What is the biggest problem with open-source internet today?
Does Chris think incumbents can be replaced?
Why does Chris think AI will strengthen incumbents?
Does Chris think OpenAI should be open-sourced?
Biggest Challenges in Crypto:
What is the biggest misconception of crypto today?
Does Chris think speculation is bad for crypto?
What would Chris most like to change in the world of crypto?
How does Chris think Trump will affect crypto?
Welcome to “The Ben & Marc Show”, featuring a16z’s co-founders Ben Horowitz and Marc Andreessen. This week, Marc and Ben are joined by guest Chris Dixon to discuss his recent NY Times bestselling book “Read Write Own”, as well as the future of crypto, blockchain and Web3.
Chris Dixon has been a General Partner at Andreessen Horowitz since 2012. He founded and leads a16z crypto, which invests in web3 technologies through four dedicated funds with more than $7 billion under management. Previously, Chris was the cofounder and CEO of two startups, SiteAdvisor (acquired by McAfee in 2006) and Hunch (acquired by eBay in 2011).
In this wide-ranging conversation, the three discuss the evolution of the internet, the current relationship between AI and cryptocurrencies, and how the Web3 movement could inspire a new political ideology. They also take questions from X. Enjoy!
Watch the Full Video: https://youtu.be/u95r025U9K8
Resources:
Marc on X: https://twitter.com/pmarca
Marc’s Substack: https://pmarca.substack.com/
Ben on X: https://twitter.com/bhorowitz
Chris Dixon on X: https://twitter.com/cdixon
More info on Chris Dixon’s book “Read Write Own”: https://readwriteown.com/
Book referenced on this episode:
“Fully Automated Luxury Communism” by Aaron Bastani bit.ly/3Td7HVw
Stay Updated:
Find us on X: https://twitter.com/a16z
Find us on LinkedIn: https://www.linkedin.com/company/a16z
The views expressed here are those of the individual personnel quoted and are not the views of a16z or its affiliates. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors and may not under any circumstances be relied upon when making a decision to invest in any a16z funds. PLEASE SEE MORE HERE: https://a16z.com/disclosures/
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Our friend Chris Dixon is back to talk about his new book: Read Write Own! How Web3 and the blockchain can save the web as we know it!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Chris Dixon is a managing partner at a16z and the founder of a16z crypto.
In this episode, Dixon gives an overview of his new book, Read Write Own: Building the Next Generation of the Internet, and explains how blockchains have the potential to create more equatable online experiences.
OUTLINE
00:00 Background
08:04 New Book
11:13 Crypto Skeptics
14:56 Tech Centralization
19:53 Web2 vs Web3
24:11 Networks vs Tokens
31:12 Platform Ownership
33:49 Platform Take Rates
37:49 Consumer Crypto
40:49 Regulatory Uncertainty
47:29 Venture Landscape
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Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Chris Dixon, founder and managing partner of a16z crypto, believes the Internet’s early ideals of democratization and community ownership have been subverted by the consolidation of power into just a few small companies like Facebook and Google. He’s written a new book called Read Write Own in which he writes about this phenomenon, and argues that blockchain technology can help reverse the trend by providing an environment in which developers and entrepreneurs can once again build direct relationships with their audiences.
Dixon joins Unchained to discuss criticisms of crypto VC firms, how he feels now about a16z’s previous investment in Facebook, how crypto has become overly politicized in the U.S., why Facebook’s Libra project was ultimately shut down, the significant promise of restaking and EigenLayer in particular, and why he believes that creator royalties are essential for the NFT market.
Show highlights:
what inspired Chris to write his new book and why he thinks the crypto industry is misunderstood
what the current problems of the Internet are and how just a few companies control most of the revenue
how Chris explains the concept of blockchains to the layman
the importance of property rights in the real world and how blockchains make this better
how Chris responds to the criticism that venture capital firms “dump on retail” and what a proper allocation of tokens to VCs is
what the best designs are to achieve good governance in decentralized networks
how the crypto industry has become politicized in the U.S.
what Chris thinks about a16z’s investment in Facebook
why Facebook’s Libra project was shut down and his takeaways from the venture
what lessons Chris learned from the 2022 crypto debacle, with the collapse of FTX, Terra, Celsius, 3AC, etc.
where Chris sits in the debate about modular vs. monolithic networks
how restaking and EigenLayer could “unlock a bunch of new design possibilities,” according to Chris
the role of open source software in driving a better environment and better projects
how decentralized social networks could attract new levels of adoption
whether creator royalties are necessary and why Chris believes that they are “non-negotiable”
Thank you to our sponsors!
Popcorn Network
Guest:
Chris Dixon, founder and managing partner of a16z crypto, author of Read Write Own
Previous appearance on Unchained: Chris Dixon on How Trust Is the Best Lego
Links
Tokenomics
Unchained: What Is Tokenomics? A Beginner's Guide
Venture Capital
Unchained: Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No
Modular vs. monolithic
Unchained:
Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate
What Are Modular Blockchains? A Beginner's Guide
Restaking
Unchained:
Do You Need to Think Twice Before Restaking Your Assets?
What Is Ethereum Restaking? A Beginner's Guide
Royalties
Unchained: Are NFT Royalties the Way? How to Build a Sustainable Creator Economy
The Chopping Block: Two on Two Debate: NFT Royalty Throwdown!
The 2022 debacle
Unchained: Collapses, Bankruptcies, and Fraud: How 2022 Became the Year of Crypto Carnage
SocialFi
Unchained: What Is SocialFi? A Beginner’s Guide
Crypto & AI
Unchained: When AI and Blockchain Meet, How Can Each Technology Benefit?
The Chopping Block: Why AI Will Change the Course of History in Crypto
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Kara and Scott discuss Amazon bringing ads to Prime Video, the jury's $83 million verdict against Donald Trump in the E. Jean Carroll defamation case, and the FTC's investigation of Big Tech's involvement in AI. Then, will the uproar over Taylor Swift and George Carlin deepfakes finally lead to regulation? Plus, what do the ongoing media layoffs mean for the future of journalism? Our Friend of Pivot is Chris Dixon, founder and managing partner of A16Z Crypto, and the author of "Read Write Own: Building the Next Era of the Internet." Chris explains why he (still) thinks crypto and blockchain are the future.
Follow Chris at @cdixon
Follow us on Instagram and Threads at @pivotpodcastofficial.
Follow us on TikTok at @pivotpodcast.
Send us your questions by calling us at 855-51-PIVOT, or at nymag.com/pivot.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/read-write-own-debrief
------ Chris Dixon of a16z returns to the podcast today to discuss the new book he authored to explain his mental model for understand crypto:
Read. Write. Own.
Chris is one of the most articulate people we know at explaining crypto - particularly from the lens of crypto as an evolution of the internet.
------ Listen On Your Favorite Podcast Player: https://bankless.cc/Podcast
------ BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2
🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku
🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle
------
Resources:
Chris Dixon https://x.com/cdixon?s=20
Read Write Own https://www.amazon.com/Read-Write-Own-Building-Internet/dp/0593731387
Mental Models for Web3 https://youtu.be/jezH_7qEk50?si=4pk8NRWF69HMRFuR
a16z Episode https://youtu.be/RXHITeaGB8Q?si=NoiqjNiHzmZxFIae
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Layoffs are hitting newsrooms and publishers again, as tech platforms, ad markets and artificial intelligence reshape the internet. Kevin Roose and Casey Newton have ideas for solutions. Then, one of the most influential investors in crypto companies lays out where the industry went wrong, and why he still thinks blockchains are the future. And finally, a round of HatGPT with the week’s tech headlines, including a spicy LinkedIn post and an A.I. test that disturbs Kevin and Casey’s sense of reality.
Today’s guest:
Chris Dixon, partner at Andreessen Horowitz
Additional Reading:
Layoffs hit publishers including The Los Angeles Times and Sports Illustrated, while Pitchfork is being wrapped into GQ.
“Read Write Own: Building the Next Era of the Internet,” by Chris Dixon
Test Yourself: Which Faces Were Made by A.I.?
We want to hear from you. Email us at hardfork@nytimes.com.
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Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.
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To date, Silicon Valley-based VC firm a16z has raised over $7.6 billion to invest in crypto and web3.
In this episode of The Scoop, a16z General Partner Chris Dixon shares some of the guiding principles that determine a16z’s investments in the crypto space and explains why the time is ripe for decentralized networks to replace centralized, corporate networks.
According to Dixon, both a16z and other VC firms have begun to shy away from investing in projects building on top of corporate networks:
“Our firm and others do not invest in things anymore that are building on these networks — on these corporate networks like Facebook and TikTok and things — because they know we've seen before that if you're successful, they'll just take all the money.”
While corporate networks had initial advantages such as access to VC funding and the ability to subsidize parts of their business models, Dixon believes decentralized networks have matured to the point where they are ready to take on their corporate counterparts.
As Dixon explains,
“Now we have the tools, I believe we, meaning the side of people that want things to be open and community-owned through blockchains, now have the tools to rival corporate networks and beat them.”
Episode 126 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and a16z General Partner Chris Dixon.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Tron, Ledn, Athletic Greens
About Tron
Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.
About Ledn
Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io
About Athletic Greens
Build a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop
✨ DEBRIEF ✨ | Ryan & David's Unfiltered Thoughts on the Episode https://shows.banklesshq.com/p/120-debrief ------ Marc Andreessen was a key player at the genesis of the internet. Chris Dixon is the master of Web3 mental models.
The journey of a16z is the history of the internet—from Web1 builders to Web2 disruptors. And now they stand as core capital infrastructure of Web3.
Having just announced the $4.5B raise of their Crypto Fund IV, as well as their new web3 Podcast, this episode will break the internet... or fix it.
------ 📣 SUBSCRIBE to the NEW a16z PODCAST: https://link.chtbl.com/HObAJQDL?sid=bankless
------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/ 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/
------ BANKLESS SPONSOR TOOLS:
⚖️ ARBITRUM | SCALED ETHEREUM https://bankless.cc/Arbitrum
❎ ACROSS | BRIDGE TO LAYER 2 https://bankless.cc/Across
🏦 ALTO IRA | TAX-FREE CRYPTO https://bankless.cc/AltoIRA
👻 AAVE V3 | LEND & BORROW CRYPTO https://bankless.cc/aave
⚡️ LIDO | LIQUID ETH STAKING https://bankless.cc/lido
🔐 LEDGER | NANO S PLUS WALLET https://bankless.cc/Ledger
------ Topics Covered:
0:00 Intro 5:30 The Internet Problem 13:47 Encryption & Regulation 20:20 What the People Want 26:04 Cathedral and the Bazaar 34:07 Internet History Rhymes 39:46 Net Neutrality 47:15 An Improved Design Space 53:30 Speedrunning Everything 59:24 The Web3 Solution 1:03:55 The Mature Internet 1:11:50 Art and the Internet 1:15:21 Web3 Critics 1:19:15 Political Ideology 1:25:13 Marc’s Advice 1:31:25 Closing & Disclaimers
------ Resources:
Marc on Twitter: https://twitter.com/pmarca?s=20&t=KszkLZCPKDd3zwBLcU0aiA
Chris on Twitter: https://twitter.com/cdixon?s=20&t=KszkLZCPKDd3zwBLcU0aiA
5 Mental Models for Web3: https://shows.banklesshq.com/p/-90-5-mental-models-for-web3-chris
a16z Podcast: https://link.chtbl.com/HObAJQDL?sid=bankless
------ Marc Andreessen's Book Club:
The Mystery of Capital - Hernando De Soto https://www.amazon.com/Mystery-Capital-Capitalism-Triumphs-Everywhere/dp/0465016154 In Defense of Globalization - Jagdish Bhagwati https://www.amazon.com/Defense-Globalization-New-Afterword/dp/0195330935 Free to Choose - Milton Friedman https://www.amazon.com/Free-Choose-Statement-Milton-Friedman/dp/0156334607 Capitalism and Freedom - Milton Friedman https://www.amazon.com/Free-Choose-Statement-Milton-Friedman/dp/0156334607 A Conflict of Visions - Thomas Sowell https://www.amazon.com/Conflict-Visions-Ideological-Political-Struggles/dp/0465002056 The Vision of the Anointed - Thomas Sowell https://www.amazon.com/Vision-Anointed-Self-Congratulation-Social-Policy/dp/046508995X Knowledge and Decisions - Thomas Sowell https://www.amazon.com/Knowledge-Decisions-Thomas-Sowell/dp/0465037380 Intellectuals and Society - Thomas Sowell https://www.amazon.com/Intellectuals-Society-Thomas-Sowell/dp/0465025226 The Managerial Revolution - James Burnham https://www.amazon.com/Managerial-Revolution-What-Happening-World/dp/1839013184 In Defense of Global Capitalism - Johan Norberg https://www.amazon.com/Defense-Capitalism-Norberg-Institute-Defence/dp/1930865473 The Machinery of Freedom - David D. Friedman https://www.amazon.com/Machinery-Freedom-Guide-Radical-Capitalism/dp/1507785607 God of the Machine - Isabel Paterson https://www.amazon.com/God-Machine-Library-Conservative-Thought/dp/1560006668 Economics in One Lesson - Henry Hazlitt https://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232 Men, Machines, and Modern Times - Elting E. Morison https://www.amazon.com/Men-Machines-Modern-Times-Press/dp/0262529319 The Cathedral & the Bazaar - Eric S. Raymond https://www.amazon.com/Cathedral-Bazaar-Musings-Accidental-Revolutionary/dp/0596001088 The Declaration of Independence of Cyberspace - John Perry Barlow https://www.eff.org/cyberspace-independence
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
Friend of the show, Chris Dixon (@cdixon) of a16z's crypto and web3 investing initiatives comes on to talk about the recent report: 2022 State of Crypto. We got into all the things, using our favorite lens of tech history.
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Chris Dixon leads crypto investing at the storied Silicon Valley venture capital firm Andreessen Horowitz, or a16z. He’s responsible for leading funding rounds for Coinbase, which went public about a year ago, the NFT marketplace OpenSea, and Yuga Labs, which is behind the Bored Ape Yacht Club among others. He is also a prolific user of Twitter, where he posts lengthy threads about crypto and web3. He is at once one of the biggest investors in the space, and its biggest booster.
Links
Decoder is nominated for a Webby. Vote!
1000 True Fans
My first impressions of web3
A comprehensive breakdown of the Epic v. Apple ruling
SEC v Howey Co.
Transcript
https://www.theverge.com/e/22784768
Credits:
Decoder is a production of The Verge, and part of the Vox Media Podcast Network.
Today’s episode was produced by Creighton DeSimone and Jackie McDermott and it was edited by Callie Wright.
The Decoder music is by Breakmaster Cylinder. Our Sr Audio Director is Andrew Marino and our Executive Producer is Eleanor Donovan.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chris Dixon is a general partner at a16z, and gives Bankless listeners a masterclass in understanding the Web3 Metaverse in this episode.
There are five essential mental models to understanding why Web3 matters, and they overlap often throughout the course of the conversation.
Web3 has begun to impact all corners of digital culture, from media to finance, art and gaming, and even identity. Mental models allow for digestible thinking patterns to understand and predict the world, and Chris lays out how these new digital primitives are changing everything.
✨ EPISODE DEBRIEF ✨ https://shows.banklesshq.com/p/exclusive-debrief-5-mental-models
------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/ 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/
------ 📣 DHARMA | Trade on Polygon! https://bankless.cc/dharma ------ BANKLESS SPONSOR TOOLS:
💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini
💧LIDO | DECENTRALIZED STAKING https://bankless.cc/Lido
👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave
🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants
------ Topics Covered:
0:00 Intro 8:00 Chris Dixon 12:09 Mental Models 16:29 Unpacking the Internet 25:43 Corporations vs Networks 30:17 Why Web3 Matters 35:30 Compete or Collaborate 43:25 Tokens are a New Digital Primitive 49:00 Users & Websites 54:45 Primitive NFTs 1:01:00 Take Rate is Opportunity 1:05:27 Culture & Ownership 1:11:07 Networks Becoming Economies 1:21:25 Power to the Users 1:28:48 It’s Just a Toy 1:37:20 a16z in 2021 1:42:10 Regulatory Landscape 1:45:58 2022 Predictions 1:49:23 Closing & Disclaimers
------ Resources:
Chris on Twitter: https://twitter.com/cdixon?s=20
Why Web3 Matters: https://twitter.com/cdixon/status/1442201621266534402?s=20
Why Decentralization Matters: https://cdixon.org/2018/02/18/why-decentralization-matters
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
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Chris Dixon (@cdixon) is a general partner at Andreessen Horowitz, where for the past six years he has been an active seed and venture-stage investor.
Previously, Chris co-founded and served as the CEO of two startups, SiteAdvisor and Hunch. SiteAdvisor was an internet security company that warned web users of security threats. The company was acquired by McAfee in 2006. Hunch was a recommendation technology company that was acquired by eBay in 2011.
Chris has been a prolific seed investor, co-founding Founder Collective, a seed venture fund, and making a number of personal angel investments in various technology companies. Chris started programming as a kid and was a professional programmer after college at the high-speed options trading firm Arbitrade. He has a BA and MA in philosophy from Columbia and an MBA from Harvard.
He has written about his theories and experiences as an entrepreneur and investor on Medium and before that at cdixon.org. His a16z Podcast appearances can be found here.
Naval Ravikant (@naval) is the co-founder and chairman of AngelList. He is an angel investor and has invested in more than 100 companies, including many mega-successes, such as Twitter, Uber, Notion, Opendoor, Postmates, and Wish. You can subscribe to Naval, his podcast on wealth and happiness, on Apple Podcasts, Spotify, Overcast, or wherever you get your podcasts. You can also find his blog at nav.al.
For more Naval-plus-Tim, check out my wildly popular interview with him from 2015—which was nominated for “Podcast of the Year”—at tim.blog/naval. We also had a second long-form conversation in 2020, and you can find that here. His most recent appearance was helping me interview Ethereum creator Vitalik Buterin here.
Please enjoy!
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This episode is brought to you by UCAN. I was introduced to UCAN and its unique carbohydrate SuperStarch® by my good friend—and listener favorite—Dr. Peter Attia, who said there is no carb in the world like it. I have since included it in my routine, using UCAN’s powders to power my workouts, and the bars make great snacks. Extensive scientific research and clinical trials have shown that SuperStarch provides a sustained release of energy to the body without spiking blood sugar. UCAN is the ideal way to source energy from a carbohydrate without the negatives associated with fast carbs, especially sugar. You avoid fatigue, hunger cravings, and loss of focus.
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This episode is also brought to you by Theragun! Theragun is my go-to solution for recovery and restoration. It’s a famous, handheld percussive therapy device that releases your deepest muscle tension. I own two Theraguns, and my girlfriend and I use them every day after workouts and before bed. The all-new Gen 4 Theragun is easy to use and has a proprietary brushless motor that’s surprisingly quiet—about as quiet as an electric toothbrush.
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My guest today is Chris Dixon, a general partner at Andreessen Horowitz. Chris is a prolific investor and thinker, having been an entrepreneur, angel investor, and is now focused on investing in the crypto and blockchain space for Andreessen. Our conversation focuses on Chris's overall thesis for investing in the cryptocurrency space, the opportunities and limitations of blockchain applications, and why this is the most interesting area for investing and building over the next ten years. What's exciting to me is blockchain technology's ability to help us re-imagine old business models and catapult them into the 21st century – and we cover a lot of them. I hope you enjoy my conversation with Chris Dixon.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Coinbase, Roblox, Qualtrics and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.
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Show Notes
[00:03:56] - [First question] - His overall crypto investing philosophy
[00:06:37] - New opportunities presented by blockchain technology
[00:15:31] - Permanent limitations and shortcomings of blockchains
[00:18:32] - Evolution of DeFi and crypto currencies
[00:21:11] - Whitepapers: Bitcoin, Ethereum, MakerDAO
[00:22:08] - How to take out a loan using the Maker protocol
[00:23:22] - Utility of Dai and stablecoins
[00:29:14] - How the DeFi network will reinvent the future
[00:39:53] - Uniswap, tokens, and fundamentally redefining leverage
[00:36:29] - The Company: A Short History of a Revolutionary Idea
[00:38:00] - Developer and entrepreneurial incentives for building blockchain technology
[00:39:46] - BitClout, Rally and the early days of social tokens
[00:46:38] - Demand curve and value creation efficiency in a digital creator economy
[00:47:24] - NFTs and a Thousand True Fans
[00:54:49] - Polkadot, Solana, Cosmos and programmable blockchains
[00:58:03] - The most exciting moment for him in the last year
[01:00:19] - Decentralized autonomous organizations
[01:02:46] - The single thing that has him most excited about the future of this space
[01:05:18] - The Next Big Thing Will Start Out Looking Like a Toy
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------ The Fourth Crypto Cycle | Chris Dixon, a16z Crypto Fund
Chris Dixon is a general partner at a16z, a famous private American venture capital firm that has specialized in technologies related to the growth of the internet and computation.
Chris transcends the pre-internet, post-internet, pre-crypto-and post-crypto worlds of investing and venture capital, so his perspective is rich, deep, and consistent with the themes that transcend these revolutions.
Coming from a16z, Chris approaches this industry from a technological perspective, rather than a monetary one, and seems to be steering the a16z Crypto Fund ship in the direction that typical silicon valley venture capital investors focus on: how can blockchain technology meaningfully impact the 4 billion users of the internet.
This conversation with Chris was fast-paced and vibrant! Tune in to hear one of Tech's most experienced investors!
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Episode 47 Debrief: David and Ryan discuss their post-episode thoughts https://shows.banklesshq.com/p/debrief-chris-dixon-episode
If you want to hear David and Ryan discuss their post-episode thoughts, subscribe to the paid version of Bankless newsletter. This is where David and Ryan post BONUS content that goes alongside the free side of the Bankless program. _________
Resources mentioned in the podcast:
The Crypto Price-Innovation Cycle https://a16z.com/2020/05/15/the-crypto-price-innovation-cycle/
Crypto Fund II https://a16z.com/2020/04/30/crypto-fund-ii/
Doing Old Things Better Vs. Doing Brand New Things https://a16z.com/2020/10/18/doing-old-things-better-vs-doing-brand-new-things/
What is Blockchain: Computers That Can Make Commitments https://a16z.com/2020/01/27/computers-that-make-commitments/
Crypto startup school - fantastic educational content (particularly for builders) https://a16z.com/2020/12/28/crypto-users-guide/
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----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case
You can check out the back story of Dixon’s first company, SiteAdvisor, here. It was built during a time when spyware was a booming business and browsers had few systems in place to combat bad actors. The company was acquired by McAfee in 2006. It's a great trip through the history of web security at the time.
Dixon next turned his attention to machine learning. He and his co-founders created Hunch, which worked to learn users’ tastes and recommend items they might enjoy. It was an early attempt to build the taste graph, a parallel to the social graph. It was acquired by eBay in 2011. Many of these techniques are now widely used across the biggest social networks in the world.
Dixon then moved into the world of venture capital. You can read more about the Crypto Fund he helps to lead and the new startup school a16Zz is launching to help educate a new generation of programmers and founders. Application are still open.
If you're interested in learning more about the background of Hashcash, which foreshadowed a lot of the ideas found in Bitcoin, there is some good info here.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chris Dixon, partner at Andreessen Horowitz, talks about the new $300 million crypto fund he is leading with Kathryn Haun, the new general partner of Andreessen, and how a16z came to hire its first female GP. The long-time crypto entrepreneur also discusses his theory of how crypto will grow -- and why Cryptokitties was one example of how that might happen -- his nights-and-weekend theory of technological change, and his view that writing software and smart contracts is similar to writing a novel. Additionally, he explains how someday, it will seem funny we didn't have concepts of ownership and money in the digital world, why Andreessen is investing almost exclusively in crypto-first projects and why he believes that the ability to create trust software will be the best Lego block for building things like money, finance, digital goods and more.
Thank you to our sponsors!
Blockchain Warehouse: https://www.blockchainwarehouse.com
Clarity PR: http://clarity.pr
Preciate: https://preciate.org
LINKS:
The a16z $300 million crypto fund: https://a16zcrypto.com
Katie Haun's appointment as GP: https://a16z.com/2018/06/25/katie-haun/
My previous interviews with Katie Haun -- Unchained: http://unchainedpodcast.co/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them
Unconfirmed: http://unconfirmed.libsyn.com/sxsw-episode-former-doj-prosecutor-kathryn-haun-on-what-the-sec-subpoenas-and-fincen-letter-likely-mean
Chris on decentralization: https://medium.com/@cdixon/why-decentralization-matters-5e3f79f7638e
On how tokens can reverse the centralization of the internet: https://medium.com/@cdixon/crypto-tokens-a-breakthrough-in-open-network-design-e600975be2ef
Chris mentioned Placeholder Ventures -- if you haven't heard my interview with the firm's Joel Monegro, check it out: http://unchainedpodcast.co/placeholders-joel-monegro-on-the-fat-protocols-thesis-today-ep65
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My guest this week is Chris Dixon, who has written some of my favorite essays on technology and venture investing. Chris is a prolific investor and thinker, having been an entrepreneur, angel investor, and now partner at the well-known venture capital firm Andreessen Horowitz. Our conversation focuses on major trends in technology, including cryptocurrencies and the future of autonomous vehicles and drones. Chris has a rule of thumb for technology trends: find out what smart people are working on during the weekend, and you’ll know what other will be doing years in the future. After surveying his old essays, it’s clear you use Chris’s writings as a similar litmus test.
Hash Power is presented by Fidelity Investments Please enjoy this great conversation with Chris Dixon on the future of tech.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Books Referenced
Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
Who Controls the Internet?: Illusions of a Borderless World
Links Referenced
Douglas Hofstadter
Daniel Dennett
How Aristotle Created the Computer
New Yorker Cover on automation
The World of Numbers website
Jerry Neumann podcast episode
David Tisch podcast
ERC-20 Token Standard
Eleven Reasons To Be Excited About The Future of Technology
Show Notes
2:04 (First Question) – Why did Chris choose to study philosophy
2:23 – Douglas Hofstadter
2:24 – Daniel Dennett
3:20 – How Aristotle Created the Computer
3:35 – Where has his thinking and viewpoints changed the most having been in the real world
4:42 – What is the real driving force behind all of the technology that we are creating and will automation kill all of the jobs
6:16 – New Yorker Cover on automation
6:57 – The World of Numbers website
8:36 – A look at his history in networks and network design
11:03 – Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
11:07 – Jerry Neumann podcast episode
12:32 – Who Controls the Internet?: Illusions of a Borderless World
13:06 – What are the market and technological forces that make it difficult to regulate software hardware companies
14:39 – The best features of proprietary centralized networks and open networks
16:40 – What things are better centralized vs decentralized
22:30 – David Tisch podcast
23:03 – When it comes to cryptocurrencies, what are the concerns that the protocols themselves hold value and could this lead to centralization of the system problems
24:02 – Block size debate (topic)
26:40 – ERC-20 Token Standard
27:23 – Is the blockchain the answer to the stagnation of the big tech players
34:39 - How does Chris think about the dichotomy of investing in people vs technologies
34:59 – Eleven Reasons To Be Excited About The Future of Technology
37:45 – What organizational structures of companies are most compelling
41:50 – Any major trends in technology a cause for concern for Chris
44:09 – What major trends is Chris passionately pursuing
51:15 – If everyone agrees on a future trend of technology, can you still make money investing in them
52:20 – How do you encourage younger people to approach the world and a career differently in this ever-changing world
57:39 – Kindest thing anyone has done for Chris
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
Kara Swisher talks with Andreessen Horowitz general partner and entrepreneur and investor Chris Dixon about the landscape of venture capital and virtual reality. Walt Mossberg shares his perspective on Windows 10 and fields questions from his followers on Twitter.
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