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⚡ "Crypto, NFTs, and Blockchain"

The Prof G Show

Photo by regularguy.eth / Unsplash

Host: Scott Galloway
Guest: Raoul Pal, Co-Founder & CEO, Real Vision Group
Category: Biz & Tech | ⚡ Innovation

Podcast’s Essential Bites:

[2:02] “[A]fter the Internet, we saw the Internet 2.0, the rise of Amazon, [et cetera]. But the next phase is the Internet of Value. Everything that is built on the Internet and the new digital world that we built, whether it's gaming or digital artwork or any digital asset, IP rights, […] is all coming onto blockchain technology. And this is going to be the format of the exchange, storage, transmission of value across everything.”

[3:17] “[Apart from art and music,] we're also seeing communities tokenized. We've already seen with […] soccer clubs in Europe […]. But we are going to see it with everybody who has a community, every pop star, rock star, social media influencer. […] All of us will have tokens that reward our communities. It's all behavioral incentive programs. […] You take the power away from Google and Facebook and you give it to the hands of the community themselves. […] And what you're able to do is directly monetize your audience without using a brand in the middle, without using advertiser and without using a platform such as Facebook. It's extraordinary change in the power of who gets to monetize.”

[19:43] “I think the world where students end up with debt is going to be reversed and students are going to end up with equity. So if you're a student at Harvard and you've got top grades and you look like you're going to get placed into good jobs and have a good career, you will be able to tokenized part of your future earnings, which is fascinating because that pays for your whole education.”

[20:02] “The other thing that comes into play within all of this is you will be able to monetize your attention span, which is part of the disruption of the business model of Google and Facebook. […] There's already tokens, basic attention tokens, that try on brave browser, which basically pays you parts of the advertising revenue.”

[26:32] “[T]he space is super tribal. And I think the biggest piece of advice is, […] learn about Bitcoin to start with, but don't fall down the tribalism rabbit hole. It's much bigger than Bitcoin. […] We're talking about the Internet value here, which is a much bigger concept. So you need to be careful in in where you get your information from and get it broad based.”

[33:09] “There is a bunch of mining that happens in countries where they have subsidized electricity or energy. So that would be China, Iran, Venezuela. […] They've got energy resources or they can misprice it because of the state factor. But what else is happening is that for anybody to compete with people like that, they need to have the lowest cost of electricity. […] So it's actually driving green energy technology people, because what you're mining is money, essentially. You're hugely incentivized to increase your margins because it's direct payback. So it's causing a massive investment in green technology, because […] in the end [it] is the cheapest way of producing electricity.”

[51:45] “I'm kind of thinking we're about to go into the digital renaissance. And it's kind of shocking me that I'm having these thoughts. But I think everything is about to change. The world that we are about to walk into, in 10 years, time is going to be so dramatically different to the world we are in today.”

Rating: 🍎🍎🍎🍎

🎙️ Full Episode: Apple | Spotify
🕰️ 54 min | 🗓️ 03/25/2021
✅ Time saved: 52 min