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who is ready for day 2 livecast of the all-in summit aka my personality in a speaker lineup: brain armstrong (web3) gwenyth paltrow (lifestyle / wellness) mr beast (content) larry summers (economics) nicole paulk (molecular biology / genetics) brad gerstner (fun) + others
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Brian Armstrong: I applauded to Bill Gurley’s presentation backstage. But, the Overton window of discussion is “we will do regulation for you, or you can work with us”. As a company, we’ll take the latter. As a citizen, I’m typically against regulation because it limits innovation.
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Brian: we’re not leaving the US. we should copy best practices from traditional financial services and centralized entities should follow these, but decentralized players — I think — should be treated more like software companies. what’s happened is not quite that… we have a chair that’ve weaponized crypto.
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JCal: why don’t they want it to exist? Brian: I’m speculating but bc they don’t want to lose power. They want govts to run banks, they want to be able to pressure companies through big banks. It’s fundamentally un-American what they are doing and we need to vote people out of office who are curtailing freedom.
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*jcal keeps asking the lamest questions implying that crypto is a scam and it is so tired and makes him seem (im gonna say it im sorry) dumb*
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Brian: Sam Bankman-Fried should go to jail
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*they’re still talking about regulation (nothing new) but tbh i reaaaallly hope they start asking him about his thoughts on other blockchain applications, like the list of exciting projects he recently published*
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hell ya, go Sacks: i want to ask you about use cases and where do we stand in terms of how they’ve been validated or what we can expect? Brian: trading, then stablecoins. Defi is $50B TVL and that’s material. NFTs still in billions.
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Brian: identity is a big one. ENS is leading this (cc @greg). This is vision of web3; if you have decentralized identity, then you own your content and have a social graph and as a creator then you can have direct relationships with your community.
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(JCal, again tries to shit on crypto, saying UX makes it impossible to use) Brian: another big blocker has been scalability, but now going from dialup to broadband with L2s. We launched our own with Base and trying to get every txn to be 1 cent under 1 sec (cc @jessepollak).
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Chamath: for vibrant ecosystem, you need practical thinking. my observation is that too many are into the philosophy, and there are too few people like you — ambitious and practical — who want to change the world. *fair, i kinda agree* Brian: there does have to be a willingness to bring in the next wave of people
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Brian: there’s all these competing protocols, big egos, we need to be more interoperable. this is where I think I could’ve done a better job in the last five years.
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Friedberg: can you share with us your work outside or Coinbase? Brian: what excites me most is how do we advance innovation and accelerate progress in the world, and im using my own capital to do this — eg, new limit focused on longevity via epigenetics
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Chamath (after jcal asks about SBF): what about CZ? Brian: I don’t want to comment about that and I don’t know what he does in-house, so we will just have to see.
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