# 194 - How Crypto Saves The Internet | Li Jin & Eugene Wei

*Author: Ryan Sean Adams, David Hoffman*
*Published: Oct 28, 2023*
*Source: https://www.bankless.com/early-access-how-crypto-saves-the-internet-li-jin-eugene-wei*

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Many of our listeners are familiar with Li Jin, an investor and co-founder of Variant Fund and is one of our favorite thinkers on crypto and the creator economy. Li is also joined by Eugene Wei. He’s a web2 product visionary. Listeners may be familiar with some of his incredible blog posts such as, “Status as a Service”, “Invisible Asymptotes”, “Why Information Grows” and more. 

In today’s episode, these two gigabrains, one from web2 social, one from web3 crypto, talk about the future of status as a service, psychological ownership, and the future ties between social and crypto. 

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### TIMESTAMPS

0:00 Intro

8:00 Web2 Social History

18:55 Is Web2 Ending?

24:50 Network Effect Theory

27:45 3 Paths to Break Free

32:17 The Internet’s Good, Bad, & Ugly

41:48 The Algorithm’s Constraints

46:25 Web2 to Web3 Learning Lessons

54:40 Love vs. Fame

1:00:24 Web3’s Potential

1:07:00 Crypto's Social vs. Financial Problem

1:19:30 Ethereum’s Social Network

1:25:14 Increasing Psychological Ownership

1:31:25 Price vs. Psychological Ownership

1:35:00 Eugene’s Advice to Crypto Builders 

1:42:00 Li’s Take on Crypto’s Potential

Closing & Disclaimers 

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### RESOURCES

Li Jin

https://twitter.com/ljin18

https://li.substack.com/p/the-ownership-economy-2022

https://www.youtube.com/watch?v=N6AJlmB2h8k

https://li.substack.com/p/building-psychological-attachment 

[https://li.substack.com/p/love-vs-fame-a-framework-for-social](https://li.substack.com/p/love-vs-fame-a-framework-for-social)

Eugene Wei 

https://twitter.com/eugenewei

https://www.eugenewei.com/blog/2019/2/19/status-as-a-service

https://www.eugenewei.com/blog/2018/5/21/invisible-asymptotes