Understanding Crypto 8: Tim O'Reilly: How does Web3 Compare to Web 2.0?

Welcome back to another comprehensive and informative episode in this limited series of the Rational Reminder Podcast, a weekly reality check about the world of cryptocurrencies. We are lucky to have another respected figure in the crypto world on our show, technology veteran Tim O’Reilly. Tim is a well-known educator and publisher in the crypto community and the Founder, CEO, and Chairman of O'Reilly Media. He has been involved in the technology industry since the inception and rise of Silicon Valley and, with over 35 years of industry experience, he is known for popularizing the terms ‘open-source software’ and ‘Web 2.0’ and is a respected commentator on the space. In today’s show, we do a lot of looking backwards with Tim and draw insight from his vast experience in the industry to discuss what the future of cryptocurrencies holds. We also talk about what separates companies that survive from those that do not, problems in society that blockchain technology can be used for, and changes that have taken place in the technology industry during Tim’s career, as well as what the definition of true innovation is, and much more.

 

Key Points From This Episode:

 

• What Tim’s definition of a technology unicorn is. [0:03:07]
• The problems that Web3 could solve and what makes a product innovative. [0:04:39]
• Differences between companies that survived the .com bust and those that did not. [0:11:05]
• Whether Tim thinks there are promising projects in the crypto or Web3 space. [0:18:36]
• How society would change if Web3 became the new normal. [0:22:19]
• Examples of the applications blockchain technology could have for record-keeping. [0:24:36]
• Tim shares his thought son whether or not we need blockchain technology for aspects where the state is involved. [0:27:24]
• Ways in which the evolution of crypto has changed Tim’s mental map of the future. [0:31:37]
• The role public blockchains could play in breaking the recentralization trend in decentralized technologies. [0:35:02]
• Tim tells us if he thinks centralization is a bad thing. [0:37:15]
• Past mistakes and innovation within the tech industry. [0:41:39]
• Tim’s opinion on the support of Web3 from venture capitalists. [0:44:02]
• Whether or not building technology outside of the government's reach is the right way to improve society. [0:46:46]
• Advice Tim has for those who are looking to get rich from cryptocurrencies. [0:50:35]