Name: Bitcoin and Data Monopolies | Bitcoin is Venice Series | Episode 3 (WiM383)
Uploaded: 2023-10-25T16:00:23+00:00
Duration: 1 h 19 min 36 s
Description: Allen Farrington and Sacha Meyers join me for a multi-episode conversation exploring their book "Bitcoin is Venice." In this episode, we discuss the business model of Facebook and Google, data monopol

8 months ago

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Allen Farrington and Sacha Meyers join me for a multi-episode conversation exploring their book "Bitcoin is Venice." In this episode, we discuss the business model of Facebook and Google, data monopolies and their network effects, the concept of owning your data, and whether Bitcoin can change the Internet.

Allen Farrington and Sacha Meyers co-authored the book "Bitcoin is Venice."

// GUEST //
Allen's Twitter: https://x.com/allenf32
Sacha's Twitter: https://x.com/sacha_meyers
Book: https://store.bitcoinmagazine.com/collections/books/products/bitcoin-is-venice

// SPONSORS //
In Wolf's Clothing: https://wolfnyc.com/
NetSuite: https://netsuite.com/whatismoney
iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/
Wasabi Wallet: https://wasabiwallet.io/
Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/
Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com
Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/

// OUTLINE //
00:00:00 - Coming up
00:00:47 - Intro
00:02:20 - Helping Lightning Startups with In Wolf's Clothing
00:03:06 - Introducing Allen Farrington and Sacha Meyers
00:03:50 - Facebook and Google: Fundamentally Different Economic Entities
00:09:06 - Bitcoin and Data Monopolies
00:12:26 - Why These Companies Got So Big
00:16:04 - Misunderstanding the Technology
00:18:42 - Network Business Capitals
00:22:30 - Process of Capital Accumulation
00:24:29 - An Alternative Option with Bitcoin
00:26:58 - Advertising Taken to its Logical Extreme
00:29:27 - Power of Network Effects
00:32:08 - Business Ethics and Data Integrity
00:34:09 - Run Your Business from Anywhere with NetSuite
00:35:14 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:36:10 - How Bitcoin Fixes Data Monetization
00:41:36 - How Does Facebook Work?
00:44:24 - Novel Communications Protocol of Facebook
00:47:40 - “Breaking up” the Monopoly of Network Businesses
00:54:47 - The Analogy of Surveillance
00:56:56 - The Problem with Owning Your Data
00:59:47 - Data and Network Effects
01:03:06 - Knowledge is Capital
01:05:38 - Objection to Intellectual Property
01:08:05 - Take Control of Your Healthcare with CrowdHealth
01:09:07 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
01:09:59 - The Nature of the Internet
01:13:06 - Open-Source Software vs. Free Software
01:16:43 - Can Bitcoin Change the Internet?