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Jesse WaldenNFTs make the internet ownable
Why crypto is becoming the "port of entry" for all internet media.Before tech, I was an artist manager in music. When I started the firm, I believed one thing about the music industry very firmly: ownership endows power. Typically, labels had ownership over the music, and thus, power over artists. Our goal was to help artists retain ownership of their work and run their business independently, using technology to reach their fans directly. Today, we’re all creators online, and ownership conti...
Jesse WaldenThe Ownership Economy 2022
By Li Jin, Geoff Hamilton, Jesse Walden, Spencer Noon, Derek Walkush and Medha Kothari Thirty years into the development of the world wide web, a handful of companies control most user attention and advertising revenue, with closed ecosystems that hold back innovation by independent developers. The economic interests of the biggest internet platforms are poorly aligned with their most valuable contributors: their users. Ownership has long been embraced by Silicon Valley startups to align ince...
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Jesse WaldenNFTs make the internet ownable
Why crypto is becoming the "port of entry" for all internet media.Before tech, I was an artist manager in music. When I started the firm, I believed one thing about the music industry very firmly: ownership endows power. Typically, labels had ownership over the music, and thus, power over artists. Our goal was to help artists retain ownership of their work and run their business independently, using technology to reach their fans directly. Today, we’re all creators online, and ownership conti...
Jesse WaldenThe Ownership Economy 2022
By Li Jin, Geoff Hamilton, Jesse Walden, Spencer Noon, Derek Walkush and Medha Kothari Thirty years into the development of the world wide web, a handful of companies control most user attention and advertising revenue, with closed ecosystems that hold back innovation by independent developers. The economic interests of the biggest internet platforms are poorly aligned with their most valuable contributors: their users. Ownership has long been embraced by Silicon Valley startups to align ince...
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In 2006, Paul Graham wrote a great post wherein he concluded that Web 2.0 was a credible term because it meant “using the web the way it's meant to be used.” I think this is a good lens to interpret the term Web3, and why it is still a useful term, in-spite of its baggage and any associated misdirection.
Web3 is a set of expectations, about what the internet can and should be: native money, assets, ownable identity and media, transparency, automation, control, privacy, new institutions and more meritocratic and equitable outcomes.
Web 2.0 was not a revolution against what came before, but an expansion of it — a realization of new markets and networks, enabled by using the technology the way it wanted to be used. In time, that is what Web3 will come to be known as too.
In 2006, Paul Graham wrote a great post wherein he concluded that Web 2.0 was a credible term because it meant “using the web the way it's meant to be used.” I think this is a good lens to interpret the term Web3, and why it is still a useful term, in-spite of its baggage and any associated misdirection.
Web3 is a set of expectations, about what the internet can and should be: native money, assets, ownable identity and media, transparency, automation, control, privacy, new institutions and more meritocratic and equitable outcomes.
Web 2.0 was not a revolution against what came before, but an expansion of it — a realization of new markets and networks, enabled by using the technology the way it wanted to be used. In time, that is what Web3 will come to be known as too.
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