This is one of the best interviews I've listened for a while! It connects the past to the future, covers macro to microeconomics, and how content creators, consumers, politics and the economy are linked together! Thank you Justin and Balaji!
This is quickly turning into my favorite podcast. Balaji seems like a massively smart guy, so I really enjoyed this episode. I love 1hr+ long podcasts, as I feel shorter ones never go deep enough.
Many years back I took the course on Startup Engneering, taught by Balaji Srinivasan. I still rank it as one of the top 3 courses I've taken on Coursera. He's an awesome visionary.
Wow ! His temporal vision on 1950s being the peak of the centralization and now we'd be going backward is brilliant. I think we need to study more how values like centralization evolve over time and why
Great interview Justin. Thank you for being such a good host and letting him talk while precisely adding your comments at the perfect time! Really interesting talk.
Balaji is really a great listen. Since 21.co I’ve been following him. This guy can straight up see the future. Thanks for giving the man time to speak!:)
Balaji briefly mentioned deflation, could you please ask Balaji about why deflation is not a concern on a global level. That is currencies are slightly inflationary since that provides an incentive to spend today instead of holding out tomorrow (a dollar today is worth more than a dollar tomorrow). This is important as it keeps people who provide those good or services employed. If cryptocurrencies replace or become the dominant currency and they are deflationary, people will just hoard/HODL their currency instead. This is because deflation would mean their money is worth more tomorrow than it is today. This would result in decreased aggregate demand and likely a lot of job losses. It would be great to hear why a deflationary currency is not a concern for global productive output and therefore jobs.
“The introduction of digital property rights will lead to an unlock on the scale of the Chinese economy” There’s one important difference here: people. China had something to unlock. Balaji’s in danger of abstracting away and overlooking the necessity of having babies first as a precursor to absolutely anything else that might follow. That’s not an activity that can happen in cyberspace.
@@FractalRadio no people, no glorious digital economy. China was able to unlock all this potential because there was potential to unlock. All the free market in the world can’t help us if we’ve given up the will to go on as a civilization
I got a recommendation of your video "I'm successful but am not happy" First I thought you are a random youtuber with clickbait title. I have put your video on my watchlist. One wonder watched what will be there in the video. For my wonder, you are not ordinary youtuber you are actually achiever and successful guy. I'm interested in Start-up. Maybe one day I will successful like you❤️. Thank you for coming to youtube and sharing your experience and knowledge.
Excellent talk. But I was shocked by Balaji's naivety regarding the system of racism white supremacy (i.e. him thinking the system would ever give up power in exchange for 10x greater profits). Similarly, his romanticism of the 1800s wild west frontier days does not take into account the simultaneous existence of U.S. chattel slavery which was the true engine of American capitalism. Without addressing racial and social inequality in his sweeping analysis, it comes dangerously close to the "Go West, young man!" rhetoric of manifest destiny that elevated one group (in this case, wealthy tech bros) over all others. Otherwise, I found his concept of Cloud Cities to be novel and exciting as a possible future track.
while people are trying to figure out what crypto coins to buy, I'm like the new version of the Hubble telescope floating deep into space just looking on how we can use the blockchain technology to solve problems?
Part 2 -- Balaji actually learns some of the Chinese province names and realizes that he's wrong about the current direction of the Chinese state being a net postiive. (Psst... someone should go inform Balaji that people are still being shot in China for founding businesses!)
I think monetization of platforms would eat the lunch of decentralizing them, in the long run. If you monetize, you're essentially setting up a gold rush for companies to build the best platforms where everyone is a stakeholder, in a way that is a win win for everyone. It would be in the interest of the companies to play ball, for otherwise they would lose their business, this would then take care of the argument that centralized platforms are necessarily autocratic, it's classic capitalism at play. Since the monetization would no longer be based on ads, it would deter surveillance efforts as well. The way all this would play out is as follows. So each platform could issue tokens for a price and one could do everything on the platforms that the tokens allow, like building your own brand. Maybe depending on the value of your brand, your tokens too would accrue in value as well, and you could then cash out on part of that whenever you needed to. Your brand value would depend on the number of views of your tweets or comments, apart from the views of the content that you create, like videos or podcasts or blogs. Maybe depending on your brand value, your likes or retweets would also be of more value than others and would add to the brand value of the content creator commensurately. All this can already be implemented based on analytics data that each platform offers, and I don't see any added advantage to decentralizing the entire thing, which would come with its own costs. And I think this is where we are headed, a social economy.
I have been thinking the same thing about the demograohic of tech vs the traditional politicians and other industries etc ... i hope when Decentraland or some other Crypto actually becomes a country then make sure to not have religious people or political people who appeal to masses and through fakery destroy everything. Strict Technological credentials is a must for its citizenship.
Does Balaji (or anyone else) have a piece outlining his full thoughts on "wokeness"? I don't really understand what it is, apart from a vague meme, nor the problems with it.
It is interesting this believe that you can fight systemic corruption and economic inequalities using technology. Is it a specific toolkit you can recommend?
You can see how tired he is, but still made time. Amazing discipline.
A beautiful friendship right there
@@FractalRadio reminds of tenet
A giver
This is one of the best interviews ive seen, exactly what I was looking for!
Sub for more!
"Just assume I'm an investor in all we talk about crypto". On being awesome and visionary 😎👌🏻
And of course, thanks a lot Justin for this long interview!
Balaji is nuts!!
This is one of the best interviews I've listened for a while!
It connects the past to the future, covers macro to microeconomics, and how content creators, consumers, politics and the economy are linked together! Thank you Justin and Balaji!
❤️❤️❤️
lol first time hearing someone use "pop the stack" in a conversation, Balaji is a legend
He really did
This is quickly turning into my favorite podcast. Balaji seems like a massively smart guy, so I really enjoyed this episode. I love 1hr+ long podcasts, as I feel shorter ones never go deep enough.
You should check out our pod with Jaeson Ma! It went on for 2 hours and is one of our top episodes: ruclips.net/video/VcfrVZSy29s/видео.html
@@FractalRadio Nice! I'll check it out tomorrow.
I can literally feel my brain grow while i listen to this
Prove it
This was crazy awesome. We need more “decentralization vs. centralization” talks!
It's definitely the future and we should talk about it way more.
I took leave from office today to watch this.. It’s totally worthy it. Balaji is just wild. 🔥
Making the right choices in life Vinoth
Balaji is great! One of my favorite public thinkers
100%
Great podcast as always keep them coming strong, Balaji is truly one of the most knowledgeable person in this space. Thanks Justin🙏
🔥🔥
Learned more in this one video than any college lecture 🤯 Balaji is so intelligent. Thanks for another banger of a video Justin
Balaji > college lecture any day
Many years back I took the course on Startup Engneering, taught by Balaji Srinivasan. I still rank it as one of the top 3 courses I've taken on Coursera. He's an awesome visionary.
He's come a long way since then!
Been following Balaji since he went on the My First Million pod - love this guy! Would like to see both Sam Parr and Shaan Puri on this show too 😉
We are on it!
I watch all Balaji interviews and I felt like you got some really good takes out of him.
✨✨
Which are your favourite? :)
@@InsaneMosaic 23:43 I've never heard Balaji say he's pessimistic about the state of the world if not for crypto / web 3.0
@@jimson172 oh sorry I meant any other interviews you can recommend of him. I've seen a few but I'm sure there's lots out there
Wow ! His temporal vision on 1950s being the peak of the centralization and now we'd be going backward is brilliant. I think we need to study more how values like centralization evolve over time and why
Epic team, awesome conversation - thanks guys 🙏🏽
Thank YOU for tuning in!
Listening to this felt like reading a very very very very verrrŕy good book.
I zoned in while doing a jigsaw puzzle. Still zoning in 💆♂️
🧩🧩
Great interview Justin.
Thank you for being such a good host and letting him talk while precisely adding your comments at the perfect time!
Really interesting talk.
Just listened to through entire episode! Absolutely insane information. Will certainly be listening to this one again
Of course! Share it with a friend :)
Balaji is really a great listen. Since 21.co I’ve been following him. This guy can straight up see the future. Thanks for giving the man time to speak!:)
Balaji is the FUTURE MAN
Thank you for the video! Please invite Balaji to your podcast as often as possible.
Will definitely try! He needs to make more content.
I see balaji, I click
Same here
This interview is very inspiring! Thank you Justin! I hope this video can broadcast in China media.
How can we do that?
That was a great interview. The idea of that our future is our past was so interesting.
Yes, wish he talked about it more
Came here from Spotify to listen to the second part and it was great... lots to think about, next podcast I won’t forget to bring popcorns 🤓
Haha get ready next month gon be wild.
Been enjoying a ton of Balaji recently and can’t wait to listen to this. I’ll be here for part two as well 👀
This is the full video! We are dropping part two on Apple Pod and Spotify in 12 hours
@@FractalRadio oh lol, totally missed that haha
Oh well, your little growth hack worked 😉ggwp
Finally someone intelligent interviews Balaji.
I see Balaji and I press like. Undoubtedly he's one of the smartest guy in Tech..
He is!!! Check out 1729.com. Mind-blowing stuff
Balaji briefly mentioned deflation, could you please ask Balaji about why deflation is not a concern on a global level. That is currencies are slightly inflationary since that provides an incentive to spend today instead of holding out tomorrow (a dollar today is worth more than a dollar tomorrow). This is important as it keeps people who provide those good or services employed.
If cryptocurrencies replace or become the dominant currency and they are deflationary, people will just hoard/HODL their currency instead. This is because deflation would mean their money is worth more tomorrow than it is today. This would result in decreased aggregate demand and likely a lot of job losses.
It would be great to hear why a deflationary currency is not a concern for global productive output and therefore jobs.
Damn. Yes, will send this question over.
“The introduction of digital property rights will lead to an unlock on the scale of the Chinese economy”
There’s one important difference here: people. China had something to unlock. Balaji’s in danger of abstracting away and overlooking the necessity of having babies first as a precursor to absolutely anything else that might follow. That’s not an activity that can happen in cyberspace.
'The necessity of having babies first' 🤔
@@FractalRadio no people, no glorious digital economy. China was able to unlock all this potential because there was potential to unlock. All the free market in the world can’t help us if we’ve given up the will to go on as a civilization
Justin, you've got a great chill energy. I like your interviewing style where you let the guest run with their thoughts. 👍👍👍
I got a recommendation of your video "I'm successful but am not happy" First I thought you are a random youtuber with clickbait title. I have put your video on my watchlist. One wonder watched what will be there in the video. For my wonder, you are not ordinary youtuber you are actually achiever and successful guy.
I'm interested in Start-up. Maybe one day I will successful like you❤️. Thank you for coming to youtube and sharing your experience and knowledge.
Love to read this, thank you 🙏
You got Balaji on too? You're killing it Justin, keep it up
You got it
Thanks guys, this is valuable
Of course :)
Thanks Justin for doing this. This video teaches more than what l learned in school
Yea yea great guy ... he ll do much more in future
Did you know Balaji was once invited to run the FDA in the United States?
thank u so much for this great episode
Glad you liked it Yamina!
Might watch this whole thing and then listen to part 2 anyway.
You are a real fan Pavel
Excellent talk. But I was shocked by Balaji's naivety regarding the system of racism white supremacy (i.e. him thinking the system would ever give up power in exchange for 10x greater profits). Similarly, his romanticism of the 1800s wild west frontier days does not take into account the simultaneous existence of U.S. chattel slavery which was the true engine of American capitalism. Without addressing racial and social inequality in his sweeping analysis, it comes dangerously close to the "Go West, young man!" rhetoric of manifest destiny that elevated one group (in this case, wealthy tech bros) over all others. Otherwise, I found his concept of Cloud Cities to be novel and exciting as a possible future track.
🙂😔
Great great great. The most interesting part was the last 5 minutes.
Haha really? That's crazy
Mind blowing. Thank you.
Thank YOU Cheryl!
while people are trying to figure out what crypto coins to buy, I'm like the new version of the Hubble telescope floating deep into space just looking on how we can use the blockchain technology to solve problems?
listening to Balaji is like watching a guy with a nunchaku swinging at 200 mph for 2 hours 🤣
This comment is underrated
hands down, and up, the best podcast session I have watched
Someone get Balaji to go to sleep, watching him yawn is making me sleepy.
He went to sleep right after the pod 🥺🥺🥺
Part 2 -- Balaji actually learns some of the Chinese province names and realizes that he's wrong about the current direction of the Chinese state being a net postiive. (Psst... someone should go inform Balaji that people are still being shot in China for founding businesses!)
🤯😔😔
Wow, this a gem. Thanks Justin 🎉💯
Such a great knowledge dump here. Really enjoyed this episode. Keep em coming!
🚀🚀
Great!!!
🔥🔥
Thank you
Thank you Willaims 🙏
I think monetization of platforms would eat the lunch of decentralizing them, in the long run. If you monetize, you're essentially setting up a gold rush for companies to build the best platforms where everyone is a stakeholder, in a way that is a win win for everyone. It would be in the interest of the companies to play ball, for otherwise they would lose their business, this would then take care of the argument that centralized platforms are necessarily autocratic, it's classic capitalism at play. Since the monetization would no longer be based on ads, it would deter surveillance efforts as well.
The way all this would play out is as follows. So each platform could issue tokens for a price and one could do everything on the platforms that the tokens allow, like building your own brand. Maybe depending on the value of your brand, your tokens too would accrue in value as well, and you could then cash out on part of that whenever you needed to. Your brand value would depend on the number of views of your tweets or comments, apart from the views of the content that you create, like videos or podcasts or blogs. Maybe depending on your brand value, your likes or retweets would also be of more value than others and would add to the brand value of the content creator commensurately. All this can already be implemented based on analytics data that each platform offers, and I don't see any added advantage to decentralizing the entire thing, which would come with its own costs. And I think this is where we are headed, a social economy.
Wait how do we pin this
Thanks for sharing this. Mind blowing.
Part 2! Let's get more shorts and edits.
You got it chief
Balaji is my spirit animal and future President
He's gon run his own country one day!
This made me believe aws is going to triple its scale if decentralized platform demand goes higher.
Why?
Wow this is really cool stuff. Thanks for the content!
really liked this one
Yay! Thank you Allen ❤️
Lots of takeways, thank you
Are you going to publish another episode with the end of the interview? It seemed pretty abrupt.
The end is just small talks which we've cut off...maybe we should've left it in 👀👀
Awesome!
Thanks! Make sure to drop a sub and send to a friend!
Hello Justin, I think you have attached the wrong person channel of Balaji in the title of the video.
Really interesting; newfound love for Balaji! Btw, what's the graph that he was talking about at @1:01:23 ? Any recommendations of what to Google for?
@chat does anyone know? We will get back to you
lots of futuristic wisdom here
We have more 🔥 Balaji content coming. Drop a sub and stay tuned!
🔥🔥
I have been thinking the same thing about the demograohic of tech vs the traditional politicians and other industries etc ... i hope when Decentraland or some other Crypto actually becomes a country then make sure to not have religious people or political people who appeal to masses and through fakery destroy everything. Strict Technological credentials is a must for its citizenship.
For sure, that's a very compelling vision
Could anyone say Balaji is the CEO of the earning app Hpz Token? I see they mention him as CEO in their website
Awesome
😊😊
he even knows "小岗" (xiaogang)，very impressive.
Dude just knows everything.
Hell yeah this was nice! Lots of gems dropped.
I liked the 'On Disk' -> 'Online' -> 'On Chain' points.
You are ON POINT this is ON FIRE 🔥 🔥
“On Disk” -> “Online” -> “On Chain” -> “On Particle” through quantum entanglement
Great interview
Hehee
Merci
🙏
This guy knows his shit!
He certainly does...
Helo balaji what's the news about your Hpztoken, is it dead or alive?
Does Balaji (or anyone else) have a piece outlining his full thoughts on "wokeness"? I don't really understand what it is, apart from a vague meme, nor the problems with it.
We will have him make some more content on it! Stay tuned.
It is interesting this believe that you can fight systemic corruption and economic inequalities using technology. Is it a specific toolkit you can recommend?
We will ping Balaji for this
nsf acceptable use policy banned commercial traffic on the internet prior to the 1991 ~1:38:00
Did I miss the part on El Salvador?
We did this prior to the El Salvador announcement!
Balaji actually said pop the stack
FULL SEND
Woaaaaah
Yessir
"Assistant to the Regional Manager"
LOL yes
Coke addicts should instead play a background track of Balaji saying "10x." Equal dopamine hit
Hahahaahah
video quality is quite rough
We are working on improving it!
"and whatnot"
Biology Srinivasan
[Auto Generated Subtitles]
Need better AI
So meta
Indeed...
The Communistic Societies Of The United States
Book by Charles Nordhoff
his thoughts on web3 are GREAT, change this ...!!!.. thumbnail and title, because it limits the reach
ezra vogel deng xiaoping
I wish twich hire me
I'm sure they are hiring, send them an email!
@@FractalRadio man I love you
Why such a clever person seems to believe untested vaccine propaganda and talk of no-vaxxers is beyond my understanding
Definitely controversial
Wokeness came from France.
holocracy