Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs (#542)

Chris Dixon: "The internet is not bad for creative people. Web2 is bad for creative people."

Naval "If you're skeptical about the idea of owning digital property, then you're not only denying capitalism on the internet .... You're saying we're not going to have a collectively owned future. We're going to have a government-owned future and corporate-owned future."

Tim Ferris: "It's not even the first inning. It’s like the anthem before the game has even started. And I have never seen so many highly intelligent, ambitious, capable people drop whatever they’re doing, in many cases really attractive things, to dedicate their time to this."

Naval: "Today the frontier is on the internet and even on the internet, the frontier is within Web3 and crypto because it’s sort of the least regulated the most decentralized, most permissionless, 24x7x365 markets that are self-funding hackers from all around the world."

"You can do anything with NFTs that you can do with a webpage, but on top of it, you can have scarcity and ownership and allocation and rights associated with it. This is really big."

Naval: "It has to go through the same adoption curve that Web2 and Web1 did. And in theory, it could even go faster. Because tokens naturally have an incentive mechanism built-in. The token companies don't need to do much marketing. The marketing is done by the users.

Chris Dixon: "The mistake I see a lot of young people making early in their career. The next prize, promotion, bonus, is six months away. And they're on that treadmill, never willing to join a startup and take what appears to be a step backward, but is, in reality, a bigger hill."

So in that sense, NFTs are primitive, and people are going to recombine, and assemble, and compose those primitives to create incredible complex systems."

Naval: "The power of a program is how much computation power it has beyond it. The power of an idea is how many brains is it running in. So if you have good ideas, you want to spread them as far and wide as possible. That's why I'll never charge for a piece of content."