Balaji Pdf Download

[Alayna Rother]

Pleaseenjoy this transcript of my interview with Balaji S. Srinivasan (@balajis), an angel investor and entrepreneur. Formerly the CTO of Coinbase and general partner at Andreessen Horowitz, he was also the co-founder of Earn.com (acquired by Coinbase), Counsyl (acquired by Myriad), Teleport (acquired by Topia), and Coin Center.

Tim Ferriss: So we will come back to some of these predictions. And is it, I want to say I just heard you say COVID, most people would say COVID, does it matter? Is one correct and one not?

Tim Ferriss: So within the next 30 to 40 years, once we get to the sort of asymmetrical warfare where the cost of offense is much lower than the cost of defense with armies of drones, is that what you mean?

Tim Ferriss: Right. And it requires, not to state the obvious, but it requires, or may not even require, courage, the less fear you have. If courage is acting in the face of fear, if you have minimized the risk or the damage of being canceled, or any type of media retribution, you have less fear to overcome. It just makes it easier, like you said, to have that ideological freedom to hold a position.

Tim Ferriss: Well, I was just going to say, not to mention that even if you feel like you have nothing to hide, and this is an issue with a lot of surveillance act bills and things like that. If suddenly every lawmaker, every member of Congress has dirt on them, I mean, the destabilizing effect is non-trivial.

Balaji Srinivasan: Sure. So the question is, if I was given $100,000 or a $100 million, what do I do with that? How do I maximize returns? So the dumbest thing, but that I think is the most obvious thing to do, is put half into Bitcoin, half into Ether.

Tim Ferriss: May I pause you for a second? So if you have a task like create 10 exercises based on this textbook or this material, can multiple people perform that or complete that task? If so, do you pay all of them? How do you decide who to pay?

Balaji Srinivasan: All right. So, so the third thing I was also thinking about is actually putting up a third kind of daily post, which is burning. That is to say just post something of you working out, and we give the 100 best each day, like $10 in BTC.

One way I think about that is, after the financial crisis, basically, the way that they decided to like stop the next crisis is they made it almost impossible to get a banking charter. All right. So you punish the banks by eliminating all of their competition. Now, somehow fintech and crypto found a way, different threads coming to the same thing where basically like working above, doing partnerships, working below.

The one exception might be the Chinese Communist Party. That might be the exception that proves the rule, just because they were like super early on a lot of this, they built the firewall, they may be the exception that proves the rule and the future may be a centralized East versus decentralized West. Where, what would I think happens in the West, did you see this Greater Idaho thing, for example?

Tim Ferriss: So the Federal level regulatory attack in the US, you view as a low probability event? Or just a low consequence event because those companies domiciled in the US who are focused on crypto just redomiciled?

Tim Ferriss: Okay. Just wanted to add that for people who may not have any of that context. So please continue. Yes. Universal healthcare or basic healthcare, moving gravy around on a plate unnecessarily, unhelpfully low expectation.

Tim Ferriss: Right. So we have the extra planetary, and then we also have a few corrective forces. If anyone has read Lessons of History by Will and Ariel Durant, war, famine, and pestilence, example given COVID-19, also do a pretty good job of correcting for a lot of that.

Despite all of that, he managed to pilot it through not simply to survive as a polity, but to build a country that was so impressive that when Deng Xiaoping took over China, he actually went to talk to Lee Kuan Yew as one of the people to help him reform China because he could see what an ethnically Chinese population had done there. He could also see it in Taiwan and Hong Kong, but for various reasons, those were certainly influential in Deng Xiaoping, but they were also counterrevolutionary. And so he had to give him a little bit more of a distance, whereas Singapore and LKY were kind of the Switzerland of Southeast Asia.

And it was not uncontroversial, but essentially Estonia became a software country. And so they punched way above their weight with Skype and TransferWise and other kinds of companies that have come out of that really, really impressive place.

Just like Google News in 2002, put every single newspaper in competition with every other one. And then all of these local newspapers shuttered, and only the really big national distributors became international centers, ones that could respond to it. And then the smart ones actually saw that. And then you had new things come up, like pure digital outlets.

Tim Ferriss: I was just going to ask, so if, if there were a military conflict or a nation state versus nation state conflict between the US and China, it seems unlikely that it would be like Red Dawn on US soil. It seems unlikely, not impossible. I mean, there might be a cyber attack that has impact on any number of things in the United States, in the domestic US, continental US. But, if we take as an example, Taiwan, if there were a conflict over Taiwan and the US lost, what are the consequences of that, in your mind?

Balaji Srinivasan: So India had postulated a crypto ban. Okay. I think that if you look at the very latest reports, that is now being retaught. And the reason for that is a lot of tech people, a lot of financiers, a lot of people in the government have communicated that actually the two biggest stories in India over the last 30 years are A, economic liberalization and B, the internet, and crypto combines both, right?

Tim Ferriss: Right. But with distribution, with wider distribution and use of say micropayments via cryptocurrency, much of the friction for this type of gigantic possible workforce to engage globally is removed. Right? A lot of the friction, put another way.

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