Web3: Never Bet Against Innovation | John Wu | TEDxBostonStudio

The Internet of Value
John Wu is President of Ava Labs, an Andresseen Horowitz backed technology company building the next-generation blockchain platform: Avalanche. John’s objective is to open up financial services and products to all. In this role, he leverages his expertise from over 20 years as a fintech executive and technology investor to create a blockchain-enabled solution for originating, issuing, and trading financial assets.
John was previously CEO of the SharesPost Digital Assets Group, enabling compliant token trading of private shares and funds. Prior to that, he was a technology investor and the founder of Sureview Capital, a global hedge fund backed by the Blackstone Group.
John began his investment career at Tiger Management, before managing a global technology portfolio at Kingdon Capital.
Education:
John received his MBA from Harvard University and holds a BS in Economics from Cornell University. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx

[@brianhogg358]

"Never bet against innovation" Betting against web3 isn't betting against innovation.

[@bingsteens2269]

now this video only has 12 thousand views and I hope people will look back on this and think I wish I was there in the beginning

[@vaughnjwallace]

We're now at 14k views

[@SuperFireburger]

Goddamn love seeing fellow Azukis outside twitter

[@KlimYadrintsev]

How can you benefit from it? Crypto is not the same as shares

[@the_OverManProject]

One of the most well explained presentation I have across pertaining to web 3.0

[@kirillcheckmarev6244]

I was inspired, thank you!

[@becktj]

Great talk!

[@mac2105]

Everybody: Loves the internet. Nobody: NEEDS MORE TOKENS

[@laizhou7352]

Well explained

[@bingsteens2269]

who is also watching this on Brave

[@kingsjfk]

For a few months now I have been searching tirelessly for information on how to start investing. I even payed $1000 for a course that I now regret. It appears that there is no structured guidiance for beginners on how to get started in this realm. I've come across several investors making well over $250k/annum and would be grateful if anyone on here could provide insights on how to get started, identify potential stocks, when to make an entry, exit etc.

[@mahdigarbausman]

In order to make profits from trading you need loads of experience and a well defined strategy, which most traders don't have. If you trade without the proper preparation, you're most likely to lose your money. Identify the buy/sell ratios and identify the market leaders and most importantly.

[@jasonkey9454]

report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to

[@billguschwan4112]

4:05 starts web3 talk

[@MrPlanitProfit]

??

[@lologreen]

Your first time watching someone give a presentation?

[@weiyehlee]

I don't bet against innovation; however, I would always bet against a scam.

[@marvelousjohnson4330]

short and simple

[@renzodandrea6469]

A very good landscape to learn about the potential of web3. Yet, an innovation comes to real life and adoption when also gives a stable financial framework that rewards a diverse workforce. This is not in web3 the case at all.

[@doggdayz]

what do you mean by "diverse"?

[@misterknee]

You know how it can be hard to scale a web app with traditional web technologies? Well now instead of sending a request to your local database instance, imagine sending the same request to a remote network and relying on a group of people to reach an algorithmic consensus to make the same request and then send it back to you. Why in the world would you ever do that though, unless you like burning money. You might as well keep the traditional web stack, and just set some money on fire ( That would at least save you the time of learning a completely alien framework to code in).

[@thickpeel]

Well said. And that's just scaling applications, imagine indexing a decentralized network and then storing that index in a decentralized fashion. Gonna need indexes to index your indexes and indexes to index those XD

[@p.w.little4729]

Great work John, this video will age like fine wine.

[@electrosaurus]

More like milk.

[@steven8148]

but the cost of cryto transaction is even higher than any other payment gateway. You need to lower the transaction cost and improve the speed. Not mentioning you still need to push government to accept it.

[@1000billionaire]

So does computers when they first getting commercialized, heavy, expensive and limited functionalities. Innovation will progress forward and you can actually look at those innovations right infront of you, that tiny device you holding on your hand while commenting, the laptop u bring to work, that is the progression from that heavy bulky useless metal. Blockchain and Defi will most likely evolve in this fashion. Be open to change and be patient :)

[@MarcusPryor]

You haven’t been paying attention Stevie.

[@seriousskateboarding9938]

There's no need for the government to accept crypto. That would defeat the entire point of crypto. The entire point of the blockchain is to keep it decentralized from the government.

[@ci6516]

Do you not see how it’s only people who have no education thag support this ? If you invested “in the internet “ or “the computer” in the 80s or 90s you’d be broke . There were thousands of companies. Only 1 Microsoft. Only 1 IBM. Only 2 Amazon. 99% will go broke .

[@oskarsvard2030]

Bitcoin was the start. There are so many other chains now that are 1000x cheaper than normal payment systems.

[@bashmohandes]

Let's bring back Private Money from the 1800s it was awesome

[@amaanshareef5625]

wdym private money

[@bashmohandes]

@@amaanshareef5625 look it up

[@Kirill-ir4vg]

that's basically what ethereum network does. Doesn't it?

[@misterknee]

@@bashmohandes Delaware Bridge Company dollars will be the global reserve currency one day for sure, lol

[@allegorichnaya]

It's already here. Basically peer-to-peer lending - it could be decentralised built on web3 or a centralised financial intermediary

[@huntergulledge596]

I’ve got something in the works. I can attest, there’s lots of room for innovation in Web3. More than people realize (yet).

[@swampy1234]

Give me one example

[@Juck0]

Wow, awesome speach, I want to be like u in the future.

[@jan1agush]

I don’t know if its good to increase the velocity of money with the current inflationary period going on. Currently (after 2018) the velocity of money is 1.2 (and rising), while historically was around 2 (up to 2008). Imagine the recent price hikes on a velocity of 2 😂 However its an interesting idea if it happens on a gold standard.

[@wisdomugonwokoma]

A Web 3 company also making marks is Sportsicon

[@johanschroeder7172]

It all sounds great for the end user, but who is actually "paying" for the tokens issued?

[@louisstrauss285]

My man confidently saying: "I didn't see the point of the internet, you should trust my opinion." No, people didn't think it was a fad, internet was useful before it even was the internet.

[@CH4DCRYPTO]

Summary: Betting against innovation means going against the greatest minds on earth aka the innovators.

[@pr0kris]

Sometimes betting against innovation pays off. The day that this was posted, the Avalanche token that John Boo praises (and conveniently forgot to mention is issued by his own company) had gone down in value 83% from its all time high.

[@loladelawoyin5728]

SMH, he wasn't talking short term

[@ushakiran8549]

@@loladelawoyin5728I agree.!

[@TheRealManchas]

Only the people that don't understand how Web3 works will pay attention to something that happens 1 day (and not even go investigate why). It is better that that kind of people stay on Web2, because Web3 is for proactive people, for people that love to research and investigate, to learn new things, to create, to build, to be free.

[@oskarsvard2030]

And how is this comment going for you now? It was posted in 20 July 2022 and the price of AVAX was: 20 USD roughly. It never went lower than 8 USD and is now at 30 USD. So its up a 50%. Thanks to people like you those of us who actually understand value can accumulate in peace!

[@pr0kris]

@@oskarsvard2030 okay? A year and a half ago it was -80%, now it’s -70%. Best of luck getting back above water

[@alphavax6711]

Per Consensum Ad Astra

[@hjufdvbjihde]

internet =/= blockchain, the former is value creating but that doesn't mean the latter will be

[@oriolowogideon5129]

Wow

[@reelerverse]

I was here

[@bhambhomoto4457]

I always bet against innovative scams.

[@manishpandey5013]

So why would I do all those attention token -> audio token swaps when I can just listen to a song on YT?

[@jenson1517]

Because you want to support the artist you like. As he said when you listen to YT, Spotify etc. The artist gets paid through the ads displayed before the video. But first KZbin takes some of that ad money then the label then the artist so by buying the token the artist gets paid with less intermediarys. And you still didn't go into the red because you theoretically paid with your own data that you also own. Normally your own data would be owned by Google/KZbin and before loading the ad they would sell that data to display a more personal ad that makes KZbin more money.

[@manishpandey5013]

@@jenson1517 but YT is doing a huge lift of giving the artist an easy to use platform to get so many eyeballs so easily, which will take years if done from own website, lost in sea of trillions of webpages on internet. At the same time it is helping users to discover the artist thanks to its search, tagging and recommendation engine. How will the Artist & Fan connect if we remove YT/Google from the mix? The second problem is demand. Your logic assumes that there are "good souls in high majority" who want to "pay" for stuff they consume. If that were true we won't be having concepts of piracy & password sharing. Here Web3 fails to account human behaviour.

[@jenson1517]

@@manishpandey5013 to your first argument Even if YT is the biggest player that doesn't mean there's no market for everyone else, Spotify Soundcloud etc. Can all exist next to each other. So why wouldn't there be room for another platform, most artist especially the newer ones publish there music everywhere there is no exclusivity. To the second argument. That the artist gets paid more is just a nice bonus the main advantage is that you own your information and you decide what happens to it if you're fine with what google does with it then there's no reason to switch, but there definitely is a market for people that are not okay with the things google does. Just because you like your Mercedes AMG doesn't mean my Jeep is a worse choice it just depends on our preferences budget and what we want to do.

[@bmo7454]

@@manishpandey5013 What you fail to account is the growing evolution of consciousness within mankind: to do better, be more considerate, be more aware of our actions, etc.

[@crowningglory6654]

@@jenson1517 only whiz’s are aware that their data is being used for ads, the rest of us are unaware and don’t care enough to privatise it and do all that hassle of changing to another platform etc. This is where being too smart & too innovative fails to consider where the rest of society is at in terms of caring It’s like climate change, a lot of people know what’s happening with climate change but do nothing about it because it’s an inconvenience to them and they just don’t care enough to change their ways and some people don’t know at all. In a room of 1000 probably only 5 care about climate change malarkey and 2 are actively doing something about it. Humans are seriously careless and selfish. unlike the internet which was an actual exciting revolution because it provided extended social and communication benefits for them. I’m one of those people that are aware of these things out of personal interest & just being abit of a geek but I’m rational about it because I’m also surrounded by communities of people that do not give a damn and don’t even know what’s going on in the world let alone care about DECENTRALISATION. We don’t mind decentralisation

[@madsouris]

wow web3 trending is so silent now hahahha

[@cryptomon86]

$AVAX is the future global financial system

[@abdulsamadadams7458]

De deceive urself

[@mrbinspire]

i’ll b at Avalanche Creates next week in Berkeley 🤘💯🔺

[@swampy1234]

Joker

[@datarsahi7]

You lived in the dorm through your senior year of college and you can recall exact conversations from your freshman year? This is another crypto bro w buzzwords.

[@scene2much]

Question not answered: Who Will Not Benefit from among the 1% and from those just above and within the poverty classes ? ' Web 2.0 created the "Gig Economy".... I worked in it for 18 months, it is not as nice as Gig Economy Companies and VC's say it is. Hopefully, everyone who can't afford to lose will win ? or at least break even ?

[@oskarsvard2030]

Uber is false decentralization. The company behind it is Uber and they take the lion share. The whole point about distributed ledgers and networks is that the burden to run the infrastructure is shared among many. This means more money can go to the creator, producer and worker whatever you want to call it.

[@mrbinspire]

🔺

[@johnrborowski]

BET AGAINST BLOCKCHAIN

[@ankk98]

I think that all of these things can be done without cryto also.

[@guyblade]

I will bet against cryptocurrency on any day ending in "y".

[@shaaneveningstar6790]

Writing from the past ,... 1 btc = us$ 19150 = 11.55 ounces of Gold Hello 20 July, 2042 Lol 🤣

[@madhavsharma3436]

I want the freaking new financial system money .

[@parhamebrahimi611]

hello , whoever is reading this , you can be a part of the future or close your eyes to an internet without censorship and restrictions. i am very happy that many people think that this will not work , it means that i am going the right way. always move against the direction of the wind! just keep in mind , when the internet was invented , it took a long time for people to understand it. so see you in the future ! 2022/11/22

[@moonmoon373]

🗿

[@Emre20770]

☕

[@theark3132]

This is for those who didn't buy bitcoin in 2010 this is your next opportunity guys..... don't miss out

[@XxDavidLAXx]

What should we do

[@oskarsvard2030]

Haha trust me they all missed it. Like usual they are going to dismiss it because it's in to do so, this is without any knowledge about the subject.

[@AdamHarte]

So web3 is good because you can say your ball game tickets easier. Get me the heck out of here. I really don't care. When you start inflating blockchain as something as beneficial and ground breaking as the internet, then you lose me. It does not add value. Everything you can do with blockchain, you can do with a database. There is nothing new. And if you think it will make things easier, and assets universally transferable, then you don't know how any of the tech actually works. You are in dream land

[@nakornleelahakunakorn7483]

'Everything you can do with blockchain, you can do with a database' statement just shows that you don't have a single clue of what's going on

[@oskarsvard2030]

Ok so can you go in and change the Bitcoin ledger for me, maybe change owner of some of them so that I own them? I would be very grateful and I am waiting for you to do it with your root credentials to the ledger.

[@sumansaha295]

This guy is bonkers.

[@realchix]

I was here lol

[@MrPlanitProfit]

*The future is nfts and meta*

[@swampy1234]

😭😭😭

[@RolingBackup]

Interesting talk, but all I expect is a lot lot of loss of jobs :)

[@prayercodes]

Folkens . dont laugh. its a thing. its coming . tokens+community

[@wegder]

BS

[@FedorKai]

Have fun staying poor web 3 skeptics! Doge coin to the moon!

[@WilliamBrown-ug1hv]

etuktuk's been reliable, chuggin' along with some nice returns. 🚗💵

[@charlesboustany6058]

Radicle (RAD) web3 hidden gem, going to be huge in the future after business model tokenization 🚀 see you in the future 😎