Introduction 0:00
Haseeb’s background 0:22
Vitalik’s background 2:43
A blockchain you can build any app on top of 7:02
Eth trades efficiency for transparency 10:18
Like plain text, Eth is simple and efficient 12:41
Only high-value transactions can afford the blockchain 13:08
Doing away with ‘trusted’ third parties 14:09
Trading performance for security 14:43
‘Impregnable castles made of math’ 16:23
Ethereum’s limitations are latency and privacy 16:56
There are ways to get back your privacy 19:32
Can Eth provide a high level of decentralization and a high level of scaling at the same time? 20:39
Sharding leads to more centralization 21:49
Verifiability at the expense of scaling 24:00
How much decentralization is the right amount? 25:11
What happens when subsidies to join nodes disappear? 27:07
Stateless clients make it possible to verify the chain with very little on your hard drive 28:18
Staking culture is difficult to cultivate 28:52
New blockchain players tend to go for minimum viable decentralization 29:54
People don’t value privacy until somebody goes to jail over it 30:32
Eth is ‘simple at the base’ 31:12
Social recovery wallets make it easier to be your own bank 31:44
Block space is getting expensive 32:41
There’s not a lot of innovation on Bitcoin, by design 33:35
Blockchain’s ‘free-rider effect’ 34:57
Innovation is slowest at Layer 1 35:34
Layer 2 moves faster because it’s permissionless 36:59
What if we froze Layer 1 today? 37:25
Data for computation trade-off 38:57
Benchmarking blockchains apples-to-apples 40:02
Enshrining decentralization 41:43
Tensions between scaling and preserving value 42:27
There will be multiple stores of value 43:54
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Transcript http://nav.al/vitalik
Productize Yourself
There Are No Get Rich Quick Schemes
A Calm Mind, a Fit Body, a House Full of Love
Reject Most Advice
Eventually You Will Get What You Deserve
Play Stupid Games, Win Stupid Prizes
Escape Competition Through Authenticity
Keep Redefining What You Do
Be Too Busy to “Do Coffee”
Work As Hard As You Can
Set an Aspirational Hourly Rate
Judgment Is the Decisive Skill
Example: From Laborer to Real Estate Tech
Pick a Business Model With Leverage
Product Leverage Is Egalitarian
Product and Media Are New Leverage
Labor and Capital Are Old Leverage
Take Accountability to Earn Equity
Embrace Accountability to Get Leverage
There's No Actual Skill Called Business
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