WEBVTT Kind: captions Language: en 00:00:01.160 --> 00:00:06.690 align:start position:0% [Music] 00:00:06.690 --> 00:00:06.700 align:start position:0% 00:00:06.700 --> 00:00:09.509 align:start position:0% [Music] 00:00:09.509 --> 00:00:09.519 align:start position:0% [Music] 00:00:09.519 --> 00:00:12.030 align:start position:0% [Music] thanks<00:00:09.800> everyone<00:00:10.519> um<00:00:11.160> before<00:00:11.400> getting<00:00:11.639> into 00:00:12.030 --> 00:00:12.040 align:start position:0% thanks everyone um before getting into 00:00:12.040 --> 00:00:13.589 align:start position:0% thanks everyone um before getting into crypto<00:00:12.360> I<00:00:12.440> did<00:00:12.559> work<00:00:12.679> in<00:00:12.799> the<00:00:12.920> coffee<00:00:13.240> supply 00:00:13.589 --> 00:00:13.599 align:start position:0% crypto I did work in the coffee supply 00:00:13.599 --> 00:00:15.390 align:start position:0% crypto I did work in the coffee supply chain<00:00:14.480> and<00:00:14.679> I've<00:00:14.799> been<00:00:14.879> getting<00:00:15.080> a<00:00:15.160> lot<00:00:15.240> of 00:00:15.390 --> 00:00:15.400 align:start position:0% chain and I've been getting a lot of 00:00:15.400 --> 00:00:17.029 align:start position:0% chain and I've been getting a lot of questions<00:00:15.799> about<00:00:16.119> where<00:00:16.279> the<00:00:16.400> best<00:00:16.640> coffee<00:00:16.920> is 00:00:17.029 --> 00:00:17.039 align:start position:0% questions about where the best coffee is 00:00:17.039 --> 00:00:18.630 align:start position:0% questions about where the best coffee is in<00:00:17.199> Bangkok<00:00:17.800> and<00:00:17.880> I'm<00:00:18.000> still<00:00:18.199> looking<00:00:18.359> for<00:00:18.480> an 00:00:18.630 --> 00:00:18.640 align:start position:0% in Bangkok and I'm still looking for an 00:00:18.640 --> 00:00:20.269 align:start position:0% in Bangkok and I'm still looking for an answer<00:00:18.960> so<00:00:19.080> if<00:00:19.199> anybody<00:00:19.520> knows<00:00:19.800> where<00:00:19.920> to<00:00:20.080> go 00:00:20.269 --> 00:00:20.279 align:start position:0% answer so if anybody knows where to go 00:00:20.279 --> 00:00:22.470 align:start position:0% answer so if anybody knows where to go for<00:00:20.920> some<00:00:21.119> excellent<00:00:21.480> specialty<00:00:21.920> coffee 00:00:22.470 --> 00:00:22.480 align:start position:0% for some excellent specialty coffee 00:00:22.480 --> 00:00:23.750 align:start position:0% for some excellent specialty coffee please<00:00:22.680> hit<00:00:22.840> me<00:00:22.960> up<00:00:23.199> would<00:00:23.359> love<00:00:23.480> to<00:00:23.599> check 00:00:23.750 --> 00:00:23.760 align:start position:0% please hit me up would love to check 00:00:23.760 --> 00:00:25.790 align:start position:0% please hit me up would love to check that<00:00:23.920> out<00:00:24.920> um<00:00:25.119> today<00:00:25.359> I'm<00:00:25.480> going<00:00:25.560> to<00:00:25.680> be 00:00:25.790 --> 00:00:25.800 align:start position:0% that out um today I'm going to be 00:00:25.800 --> 00:00:29.429 align:start position:0% that out um today I'm going to be talking<00:00:26.240> about<00:00:26.920> optimism<00:00:27.640> retr<00:00:28.119> funding<00:00:29.119> uh 00:00:29.429 --> 00:00:29.439 align:start position:0% talking about optimism retr funding uh 00:00:29.439 --> 00:00:31.830 align:start position:0% talking about optimism retr funding uh it's<00:00:29.679> a<00:00:30.080> experimental<00:00:30.560> grants<00:00:30.960> program<00:00:31.599> being 00:00:31.830 --> 00:00:31.840 align:start position:0% it's a experimental grants program being 00:00:31.840 --> 00:00:34.630 align:start position:0% it's a experimental grants program being run<00:00:32.079> by<00:00:32.200> the<00:00:32.279> optimism<00:00:32.840> Collective<00:00:33.840> and<00:00:34.239> as<00:00:34.399> a 00:00:34.630 --> 00:00:34.640 align:start position:0% run by the optimism Collective and as a 00:00:34.640 --> 00:00:36.630 align:start position:0% run by the optimism Collective and as a data<00:00:34.920> Enthusiast<00:00:35.920> it<00:00:36.079> creates<00:00:36.480> this 00:00:36.630 --> 00:00:36.640 align:start position:0% data Enthusiast it creates this 00:00:36.640 --> 00:00:38.389 align:start position:0% data Enthusiast it creates this incredible<00:00:37.040> substrate<00:00:37.520> for<00:00:37.680> looking<00:00:37.960> at<00:00:38.239> the 00:00:38.389 --> 00:00:38.399 align:start position:0% incredible substrate for looking at the 00:00:38.399 --> 00:00:39.990 align:start position:0% incredible substrate for looking at the effectiveness<00:00:38.879> of<00:00:39.000> different<00:00:39.239> Grant 00:00:39.990 --> 00:00:40.000 align:start position:0% effectiveness of different Grant 00:00:40.000 --> 00:00:42.790 align:start position:0% effectiveness of different Grant programs<00:00:41.000> um<00:00:41.559> I'm<00:00:41.760> the<00:00:42.000> co-founder<00:00:42.559> of<00:00:42.680> an 00:00:42.790 --> 00:00:42.800 align:start position:0% programs um I'm the co-founder of an 00:00:42.800 --> 00:00:44.830 align:start position:0% programs um I'm the co-founder of an organization<00:00:43.360> called<00:00:43.640> open<00:00:43.879> source<00:00:44.120> Observer 00:00:44.830 --> 00:00:44.840 align:start position:0% organization called open source Observer 00:00:44.840 --> 00:00:47.069 align:start position:0% organization called open source Observer we're<00:00:45.039> building<00:00:45.440> a<00:00:45.600> free<00:00:46.039> analytics<00:00:46.520> platform 00:00:47.069 --> 00:00:47.079 align:start position:0% we're building a free analytics platform 00:00:47.079 --> 00:00:49.110 align:start position:0% we're building a free analytics platform and<00:00:47.199> the<00:00:47.360> community<00:00:47.960> of<00:00:48.120> data<00:00:48.399> scientists<00:00:48.960> who 00:00:49.110 --> 00:00:49.120 align:start position:0% and the community of data scientists who 00:00:49.120 --> 00:00:51.350 align:start position:0% and the community of data scientists who care<00:00:49.320> about<00:00:49.600> measuring<00:00:50.039> impact<00:00:50.320> in<00:00:50.440> the<00:00:50.559> open 00:00:51.350 --> 00:00:51.360 align:start position:0% care about measuring impact in the open 00:00:51.360 --> 00:00:52.510 align:start position:0% care about measuring impact in the open and<00:00:51.480> so<00:00:51.640> today<00:00:51.840> we're<00:00:51.920> going<00:00:52.039> to<00:00:52.079> be<00:00:52.239> talking 00:00:52.510 --> 00:00:52.520 align:start position:0% and so today we're going to be talking 00:00:52.520 --> 00:00:54.470 align:start position:0% and so today we're going to be talking about<00:00:53.079> the<00:00:53.199> impact<00:00:53.480> that<00:00:53.640> optimism<00:00:54.280> is 00:00:54.470 --> 00:00:54.480 align:start position:0% about the impact that optimism is 00:00:54.480 --> 00:00:57.069 align:start position:0% about the impact that optimism is achieving<00:00:55.480> um<00:00:55.879> and<00:00:56.359> identifying<00:00:56.920> some 00:00:57.069 --> 00:00:57.079 align:start position:0% achieving um and identifying some 00:00:57.079 --> 00:00:59.389 align:start position:0% achieving um and identifying some opportunities<00:00:57.680> to<00:00:58.039> improve<00:00:58.760> and<00:00:58.879> double<00:00:59.199> down 00:00:59.389 --> 00:00:59.399 align:start position:0% opportunities to improve and double down 00:00:59.399 --> 00:01:00.430 align:start position:0% opportunities to improve and double down on<00:00:59.559> where<00:00:59.680> that 00:01:00.430 --> 00:01:00.440 align:start position:0% on where that 00:01:00.440 --> 00:01:02.709 align:start position:0% on where that is<00:01:00.800> has<00:01:00.920> been<00:01:01.120> most 00:01:02.709 --> 00:01:02.719 align:start position:0% is has been most 00:01:02.719 --> 00:01:05.670 align:start position:0% is has been most effective<00:01:03.719> um<00:01:04.439> so<00:01:04.680> I<00:01:04.799> guess<00:01:04.960> just<00:01:05.119> a<00:01:05.400> quick 00:01:05.670 --> 00:01:05.680 align:start position:0% effective um so I guess just a quick 00:01:05.680 --> 00:01:07.350 align:start position:0% effective um so I guess just a quick check<00:01:06.240> um<00:01:06.400> how<00:01:06.520> many<00:01:06.720> of<00:01:06.840> the<00:01:06.920> people<00:01:07.080> in<00:01:07.200> this 00:01:07.350 --> 00:01:07.360 align:start position:0% check um how many of the people in this 00:01:07.360 --> 00:01:09.670 align:start position:0% check um how many of the people in this room<00:01:07.560> are<00:01:07.799> familiar<00:01:08.360> with<00:01:08.840> retr<00:01:09.200> funding 00:01:09.670 --> 00:01:09.680 align:start position:0% room are familiar with retr funding 00:01:09.680 --> 00:01:12.429 align:start position:0% room are familiar with retr funding optimism<00:01:10.320> have<00:01:10.920> all<00:01:11.000> right<00:01:11.240> pretty<00:01:11.520> good<00:01:12.119> so<00:01:12.320> I 00:01:12.429 --> 00:01:12.439 align:start position:0% optimism have all right pretty good so I 00:01:12.439 --> 00:01:13.710 align:start position:0% optimism have all right pretty good so I have<00:01:12.560> a<00:01:12.640> few<00:01:12.799> slides<00:01:13.080> that<00:01:13.200> will<00:01:13.320> be<00:01:13.439> a<00:01:13.479> bit<00:01:13.600> of 00:01:13.710 --> 00:01:13.720 align:start position:0% have a few slides that will be a bit of 00:01:13.720 --> 00:01:16.230 align:start position:0% have a few slides that will be a bit of a<00:01:14.000> cursory<00:01:14.479> introduction<00:01:14.920> to<00:01:15.159> optimism<00:01:16.159> I 00:01:16.230 --> 00:01:16.240 align:start position:0% a cursory introduction to optimism I 00:01:16.240 --> 00:01:17.670 align:start position:0% a cursory introduction to optimism I think<00:01:16.479> the<00:01:16.600> main<00:01:16.880> point<00:01:17.080> that<00:01:17.159> I<00:01:17.240> want<00:01:17.360> to<00:01:17.520> get 00:01:17.670 --> 00:01:17.680 align:start position:0% think the main point that I want to get 00:01:17.680 --> 00:01:19.830 align:start position:0% think the main point that I want to get across<00:01:18.080> here<00:01:18.439> is<00:01:18.680> that<00:01:19.040> I<00:01:19.159> believe<00:01:19.479> this<00:01:19.600> is<00:01:19.680> a 00:01:19.830 --> 00:01:19.840 align:start position:0% across here is that I believe this is a 00:01:19.840 --> 00:01:21.190 align:start position:0% across here is that I believe this is a really<00:01:20.040> important<00:01:20.520> experiment<00:01:20.960> for<00:01:21.119> the 00:01:21.190 --> 00:01:21.200 align:start position:0% really important experiment for the 00:01:21.200 --> 00:01:23.350 align:start position:0% really important experiment for the world<00:01:21.439> to<00:01:21.600> pay<00:01:21.759> attention<00:01:22.119> to<00:01:22.799> and<00:01:22.880> to 00:01:23.350 --> 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different that<00:01:29.200> is<00:01:29.320> happening<00:01:29.680> here<00:01:30.280> and<00:01:30.400> it's<00:01:30.560> worth 00:01:30.749 --> 00:01:30.759 align:start position:0% that is happening here and it's worth 00:01:30.759 --> 00:01:32.749 align:start position:0% that is happening here and it's worth paying<00:01:31.040> attention 00:01:32.749 --> 00:01:32.759 align:start position:0% paying attention 00:01:32.759 --> 00:01:35.910 align:start position:0% paying attention to<00:01:33.759> so<00:01:34.119> another<00:01:34.399> chart<00:01:35.000> um<00:01:35.240> or<00:01:35.439> first<00:01:35.640> chart<00:01:35.799> of 00:01:35.910 --> 00:01:35.920 align:start position:0% to so another chart um or first chart of 00:01:35.920 --> 00:01:37.710 align:start position:0% to so another chart um or first chart of the<00:01:36.040> day<00:01:36.240> we<00:01:36.320> have<00:01:36.439> a<00:01:36.479> lot<00:01:36.600> of<00:01:36.680> charts<00:01:36.960> coming 00:01:37.710 --> 00:01:37.720 align:start position:0% the day we have a lot of charts coming 00:01:37.720 --> 00:01:39.990 align:start position:0% the day we have a lot of charts coming um<00:01:38.000> but<00:01:38.240> it<00:01:38.439> has<00:01:38.759> a<00:01:39.040> another<00:01:39.360> poll<00:01:39.680> how<00:01:39.759> many<00:01:39.920> of 00:01:39.990 --> 00:01:40.000 align:start position:0% um but it has a another poll how many of 00:01:40.000 --> 00:01:41.710 align:start position:0% um but it has a another poll how many of you<00:01:40.119> have<00:01:40.240> seen<00:01:40.479> this<00:01:40.680> before<00:01:41.040> how<00:01:41.159> many<00:01:41.600> of 00:01:41.710 --> 00:01:41.720 align:start position:0% you have seen this before how many of 00:01:41.720 --> 00:01:42.910 align:start position:0% you have seen this before how many of you<00:01:41.840> are<00:01:42.000> familiar<00:01:42.320> with<00:01:42.399> the<00:01:42.520> Electric 00:01:42.910 --> 00:01:42.920 align:start position:0% you are familiar with the Electric 00:01:42.920 --> 00:01:45.230 align:start position:0% you are familiar with the Electric Capital<00:01:43.399> developer<00:01:43.880> report<00:01:44.759> have<00:01:44.880> you<00:01:44.960> seen 00:01:45.230 --> 00:01:45.240 align:start position:0% Capital developer report have you seen 00:01:45.240 --> 00:01:48.550 align:start position:0% Capital developer report have you seen this<00:01:45.479> all<00:01:45.640> right<00:01:46.280> not<00:01:46.439> as<00:01:46.640> much<00:01:47.159> uh<00:01:47.560> awareness 00:01:48.550 --> 00:01:48.560 align:start position:0% this all right not as much uh awareness 00:01:48.560 --> 00:01:50.550 align:start position:0% this all right not as much uh awareness this<00:01:48.680> is<00:01:48.880> one<00:01:49.040> of<00:01:49.240> the<00:01:49.719> U<00:01:49.880> most<00:01:50.119> looked<00:01:50.360> at 00:01:50.550 --> 00:01:50.560 align:start position:0% this is one of the U most looked at 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this<00:01:57.320> out<00:01:57.479> for<00:01:57.640> for<00:01:57.799> quite<00:01:57.960> some 00:01:58.109 --> 00:01:58.119 align:start position:0% been putting this out for for quite some 00:01:58.119 --> 00:02:00.429 align:start position:0% been putting this out for for quite some time<00:01:58.399> now<00:01:59.039> it's<00:01:59.240> basically<00:01:59.920> indicator<00:02:00.240> of<00:02:00.320> how 00:02:00.429 --> 00:02:00.439 align:start position:0% time now it's basically indicator of how 00:02:00.439 --> 00:02:02.469 align:start position:0% time now it's basically indicator of how many<00:02:00.640> developers<00:02:01.200> there<00:02:01.320> are<00:02:01.640> working<00:02:02.159> across 00:02:02.469 --> 00:02:02.479 align:start position:0% many developers there are working across 00:02:02.479 --> 00:02:04.709 align:start position:0% many developers there are working across all<00:02:02.600> of<00:02:02.759> crypto<00:02:03.280> not<00:02:03.439> just<00:02:03.640> ethereum<00:02:04.479> every 00:02:04.709 --> 00:02:04.719 align:start position:0% all of crypto not just ethereum every 00:02:04.719 --> 00:02:08.350 align:start position:0% all of crypto not just ethereum every ecosystem<00:02:05.479> is<00:02:06.479> is<00:02:06.640> captured<00:02:07.079> here<00:02:08.039> and<00:02:08.119> so 00:02:08.350 --> 00:02:08.360 align:start position:0% ecosystem is is captured here and so 00:02:08.360 --> 00:02:10.430 align:start position:0% ecosystem is is captured here and so what<00:02:08.479> you<00:02:08.560> can<00:02:08.679> see<00:02:08.840> from<00:02:08.959> this<00:02:09.119> chart<00:02:09.440> is<00:02:09.640> that 00:02:10.430 --> 00:02:10.440 align:start position:0% what you can see from this chart is that 00:02:10.440 --> 00:02:12.869 align:start position:0% what you can see from this chart is that um<00:02:10.560> things<00:02:10.759> went<00:02:10.959> up<00:02:11.080> a<00:02:11.200> lot<00:02:11.480> in<00:02:11.720> 2021<00:02:12.720> they 00:02:12.869 --> 00:02:12.879 align:start position:0% um things went up a lot in 2021 they 00:02:12.879 --> 00:02:15.110 align:start position:0% um things went up a lot in 2021 they kind<00:02:12.959> of<00:02:13.080> plateaued<00:02:13.480> in<00:02:13.640> 2022<00:02:14.640> and<00:02:14.760> now<00:02:14.959> things 00:02:15.110 --> 00:02:15.120 align:start position:0% kind of plateaued in 2022 and now things 00:02:15.120 --> 00:02:17.869 align:start position:0% kind of plateaued in 2022 and now things have<00:02:15.319> gone<00:02:15.519> down<00:02:16.239> um<00:02:16.680> in<00:02:16.879> aggregate<00:02:17.560> from<00:02:17.760> a 00:02:17.869 --> 00:02:17.879 align:start position:0% have gone down um in aggregate from a 00:02:17.879 --> 00:02:20.790 align:start position:0% have gone down um in aggregate from a peak<00:02:18.040> of<00:02:18.200> around<00:02:18.400> 30,000<00:02:19.080> to<00:02:19.640> about<00:02:19.840> 26,000 00:02:20.790 --> 00:02:20.800 align:start position:0% peak of around 30,000 to about 26,000 00:02:20.800 --> 00:02:23.509 align:start position:0% peak of around 30,000 to about 26,000 monthly<00:02:21.120> active<00:02:21.400> developers<00:02:22.080> by<00:02:22.239> this<00:02:22.519> metric 00:02:23.509 --> 00:02:23.519 align:start position:0% monthly active developers by this metric 00:02:23.519 --> 00:02:26.110 align:start position:0% monthly active developers by this metric to<00:02:23.720> put<00:02:23.840> this<00:02:23.959> in<00:02:24.519> comparison<00:02:25.519> I<00:02:25.760> recently 00:02:26.110 --> 00:02:26.120 align:start position:0% to put this in comparison I recently 00:02:26.120 --> 00:02:28.190 align:start position:0% to put this in comparison I recently heard<00:02:26.480> that<00:02:26.920> uh<00:02:27.080> Gemini<00:02:27.599> which<00:02:27.720> is<00:02:27.840> Google's 00:02:28.190 --> 00:02:28.200 align:start position:0% heard that uh Gemini which is Google's 00:02:28.200 --> 00:02:30.630 align:start position:0% heard that uh Gemini which is Google's AI<00:02:28.560> platform<00:02:29.000> they<00:02:29.120> have<00:02:29.239> 1.5<00:02:29.920> million<00:02:30.319> active 00:02:30.630 --> 00:02:30.640 align:start position:0% AI platform they have 1.5 million active 00:02:30.640 --> 00:02:32.509 align:start position:0% AI platform they have 1.5 million active developers<00:02:31.519> by<00:02:31.680> their<00:02:31.920> account<00:02:32.280> I<00:02:32.319> don't<00:02:32.440> know 00:02:32.509 --> 00:02:32.519 align:start position:0% developers by their account I don't know 00:02:32.519 --> 00:02:34.670 align:start position:0% developers by their account I don't know if<00:02:32.599> they're<00:02:32.760> comparable<00:02:33.720> U<00:02:33.840> but<00:02:33.959> orders<00:02:34.280> of 00:02:34.670 --> 00:02:34.680 align:start position:0% if they're comparable U but orders of 00:02:34.680 --> 00:02:37.229 align:start position:0% if they're comparable U but orders of magnitude<00:02:35.680> greater<00:02:36.080> than<00:02:36.400> what<00:02:36.560> we<00:02:36.720> have<00:02:36.879> here 00:02:37.229 --> 00:02:37.239 align:start position:0% magnitude greater than what we have here 00:02:37.239 --> 00:02:39.110 align:start position:0% magnitude greater than what we have here across<00:02:37.480> the<00:02:37.599> crypto 00:02:39.110 --> 00:02:39.120 align:start position:0% across the crypto 00:02:39.120 --> 00:02:41.470 align:start position:0% across the crypto industry<00:02:40.120> um<00:02:40.319> here's<00:02:40.519> another<00:02:40.760> metric<00:02:41.319> uh 00:02:41.470 --> 00:02:41.480 align:start position:0% industry um here's another metric uh 00:02:41.480 --> 00:02:43.390 align:start position:0% industry um here's another metric uh this<00:02:41.599> one<00:02:42.000> is<00:02:42.239> the<00:02:42.400> amount<00:02:42.599> of<00:02:42.760> ventor<00:02:43.120> capital 00:02:43.390 --> 00:02:43.400 align:start position:0% this one is the amount of ventor capital 00:02:43.400 --> 00:02:45.470 align:start position:0% this one is the amount of ventor capital that<00:02:43.480> has<00:02:43.599> gone<00:02:43.760> into<00:02:44.040> crypto<00:02:44.879> um<00:02:45.159> since<00:02:45.360> the 00:02:45.470 --> 00:02:45.480 align:start position:0% that has gone into crypto um since the 00:02:45.480 --> 00:02:47.550 align:start position:0% that has gone into crypto um since the beginning<00:02:46.000> basically<00:02:46.680> this<00:02:46.840> chart<00:02:47.040> stops<00:02:47.280> at 00:02:47.550 --> 00:02:47.560 align:start position:0% beginning basically this chart stops at 00:02:47.560 --> 00:02:49.470 align:start position:0% beginning basically this chart stops at 2022<00:02:48.560> but<00:02:48.680> there's<00:02:48.879> another<00:02:49.120> number<00:02:49.360> that 00:02:49.470 --> 00:02:49.480 align:start position:0% 2022 but there's another number that 00:02:49.480 --> 00:02:50.790 align:start position:0% 2022 but there's another number that they<00:02:49.599> care<00:02:49.800> about<00:02:50.120> which<00:02:50.239> is<00:02:50.360> the<00:02:50.480> total 00:02:50.790 --> 00:02:50.800 align:start position:0% they care about which is the total 00:02:50.800 --> 00:02:53.470 align:start position:0% they care about which is the total amount<00:02:51.000> of<00:02:51.120> deal<00:02:51.400> flow<00:02:52.159> if<00:02:52.280> we<00:02:52.480> add<00:02:52.680> this<00:02:52.879> up<00:02:53.319> we 00:02:53.470 --> 00:02:53.480 align:start position:0% amount of deal flow if we add this up we 00:02:53.480 --> 00:02:55.750 align:start position:0% amount of deal flow if we add this up we get<00:02:53.599> a<00:02:53.680> number<00:02:54.000> of<00:02:54.159> around<00:02:54.400> 80<00:02:54.760> billion<00:02:55.640> has 00:02:55.750 --> 00:02:55.760 align:start position:0% get a number of around 80 billion has 00:02:55.760 --> 00:02:58.430 align:start position:0% get a number of around 80 billion has gone<00:02:56.000> into<00:02:56.159> the<00:02:56.319> space<00:02:56.760> since 00:02:58.430 --> 00:02:58.440 align:start position:0% gone into the space since 00:02:58.440 --> 00:03:00.630 align:start position:0% gone into the space since 2016<00:02:59.440> so<00:02:59.840> I<00:02:59.920> think<00:03:00.000> the<00:03:00.080> interesting<00:03:00.360> thing<00:03:00.480> is 00:03:00.630 --> 00:03:00.640 align:start position:0% 2016 so I think the interesting thing is 00:03:00.640 --> 00:03:02.350 align:start position:0% 2016 so I think the interesting thing is actually<00:03:00.840> when<00:03:00.959> you<00:03:01.080> start<00:03:01.400> combining<00:03:02.159> these 00:03:02.350 --> 00:03:02.360 align:start position:0% actually when you start combining these 00:03:02.360 --> 00:03:05.030 align:start position:0% actually when you start combining these types<00:03:02.560> of<00:03:02.720> data<00:03:03.280> sets<00:03:04.280> uh<00:03:04.519> I<00:03:04.599> don't<00:03:04.799> have<00:03:04.920> the 00:03:05.030 --> 00:03:05.040 align:start position:0% types of data sets uh I don't have the 00:03:05.040 --> 00:03:06.430 align:start position:0% types of data sets uh I don't have the ability<00:03:05.280> to<00:03:05.400> go<00:03:05.519> in<00:03:05.599> and<00:03:05.720> look<00:03:05.959> exactly<00:03:06.280> how 00:03:06.430 --> 00:03:06.440 align:start position:0% ability to go in and look exactly how 00:03:06.440 --> 00:03:08.270 align:start position:0% ability to go in and look exactly how they<00:03:06.560> calculate<00:03:07.040> these<00:03:07.200> things<00:03:07.480> but<00:03:07.599> I<00:03:07.799> can 00:03:08.270 --> 00:03:08.280 align:start position:0% they calculate these things but I can 00:03:08.280 --> 00:03:10.430 align:start position:0% they calculate these things but I can overlay<00:03:08.760> the<00:03:08.840> two<00:03:09.480> and<00:03:09.599> when<00:03:09.680> I<00:03:09.840> do<00:03:10.040> that<00:03:10.200> I<00:03:10.280> can 00:03:10.430 --> 00:03:10.440 align:start position:0% overlay the two and when I do that I can 00:03:10.440 --> 00:03:12.990 align:start position:0% overlay the two and when I do that I can come<00:03:10.599> up<00:03:10.760> with<00:03:10.959> a<00:03:11.040> new<00:03:11.239> metric<00:03:11.640> of<00:03:11.760> my<00:03:11.920> own<00:03:12.760> and 00:03:12.990 --> 00:03:13.000 align:start position:0% come up with a new metric of my own and 00:03:13.000 --> 00:03:15.670 align:start position:0% come up with a new metric of my own and that<00:03:13.159> metric<00:03:13.560> is<00:03:13.840> the<00:03:14.080> dollars<00:03:14.480> spent<00:03:15.440> per 00:03:15.670 --> 00:03:15.680 align:start position:0% that metric is the dollars spent per 00:03:15.680 --> 00:03:18.149 align:start position:0% that metric is the dollars spent per developer<00:03:16.400> retained<00:03:17.400> and<00:03:17.560> what<00:03:17.640> you<00:03:17.720> can<00:03:17.879> see 00:03:18.149 --> 00:03:18.159 align:start position:0% developer retained and what you can see 00:03:18.159 --> 00:03:21.750 align:start position:0% developer retained and what you can see here<00:03:18.640> is<00:03:18.920> that<00:03:19.519> for<00:03:19.760> every<00:03:20.040> $3.1<00:03:20.760> million<00:03:21.640> that 00:03:21.750 --> 00:03:21.760 align:start position:0% here is that for every $3.1 million that 00:03:21.760 --> 00:03:24.509 align:start position:0% here is that for every $3.1 million that has<00:03:21.959> been<00:03:22.319> invested<00:03:23.200> prospectively<00:03:24.200> um<00:03:24.360> as 00:03:24.509 --> 00:03:24.519 align:start position:0% has been invested prospectively um as 00:03:24.519 --> 00:03:26.710 align:start position:0% has been invested prospectively um as risk<00:03:24.799> Capital<00:03:25.440> we<00:03:25.599> only<00:03:25.840> have<00:03:26.040> one<00:03:26.319> retained 00:03:26.710 --> 00:03:26.720 align:start position:0% risk Capital we only have one retained 00:03:26.720 --> 00:03:28.910 align:start position:0% risk Capital we only have one retained developer<00:03:27.280> in<00:03:27.400> the<00:03:27.519> industry<00:03:28.120> still<00:03:28.400> here<00:03:28.799> to 00:03:28.910 --> 00:03:28.920 align:start position:0% developer in the industry still here to 00:03:28.920 --> 00:03:30.509 align:start position:0% developer in the industry still here to show<00:03:29.200> for<00:03:29.400> that 00:03:30.509 --> 00:03:30.519 align:start position:0% show for that 00:03:30.519 --> 00:03:32.830 align:start position:0% show for that um<00:03:30.720> so<00:03:31.080> I<00:03:31.200> think<00:03:31.560> we<00:03:31.680> can<00:03:31.920> we<00:03:32.000> can<00:03:32.120> do<00:03:32.280> better 00:03:32.830 --> 00:03:32.840 align:start position:0% um so I think we can we can do better 00:03:32.840 --> 00:03:35.190 align:start position:0% um so I think we can we can do better and<00:03:33.000> we<00:03:33.120> hope<00:03:33.280> to<00:03:33.439> do<00:03:33.720> better<00:03:34.720> the<00:03:34.799> point<00:03:35.040> is 00:03:35.190 --> 00:03:35.200 align:start position:0% and we hope to do better the point is 00:03:35.200 --> 00:03:38.190 align:start position:0% and we hope to do better the point is not<00:03:35.480> just<00:03:35.799> that<00:03:36.599> um<00:03:36.760> The<00:03:36.879> Venture<00:03:37.280> Capital<00:03:38.000> can 00:03:38.190 --> 00:03:38.200 align:start position:0% not just that um The Venture Capital can 00:03:38.200 --> 00:03:40.270 align:start position:0% not just that um The Venture Capital can improve<00:03:39.120> um<00:03:39.280> but<00:03:39.439> really<00:03:39.640> that<00:03:39.840> perspective 00:03:40.270 --> 00:03:40.280 align:start position:0% improve um but really that perspective 00:03:40.280 --> 00:03:42.830 align:start position:0% improve um but really that perspective funding<00:03:40.920> is<00:03:41.360> difficult<00:03:42.040> behind<00:03:42.360> every<00:03:42.560> one<00:03:42.680> of 00:03:42.830 --> 00:03:42.840 align:start position:0% funding is difficult behind every one of 00:03:42.840 --> 00:03:45.309 align:start position:0% funding is difficult behind every one of these<00:03:43.000> deals<00:03:43.959> there's<00:03:44.280> a<00:03:44.439> team<00:03:45.080> of 00:03:45.309 --> 00:03:45.319 align:start position:0% these deals there's a team of 00:03:45.319 --> 00:03:46.910 align:start position:0% these deals there's a team of professionals<00:03:45.879> that<00:03:45.959> are<00:03:46.080> researching<00:03:46.720> these 00:03:46.910 --> 00:03:46.920 align:start position:0% professionals that are researching these 00:03:46.920 --> 00:03:49.710 align:start position:0% professionals that are researching these companies<00:03:47.879> and<00:03:48.200> making<00:03:48.519> bets<00:03:49.400> and<00:03:49.599> the 00:03:49.710 --> 00:03:49.720 align:start position:0% companies and making bets and the 00:03:49.720 --> 00:03:51.309 align:start position:0% companies and making bets and the reality<00:03:50.040> is<00:03:50.159> that<00:03:50.280> it's<00:03:50.560> often<00:03:50.920> quite 00:03:51.309 --> 00:03:51.319 align:start position:0% reality is that it's often quite 00:03:51.319 --> 00:03:53.149 align:start position:0% reality is that it's often quite difficult<00:03:51.599> to<00:03:51.720> do<00:03:51.959> this<00:03:52.599> and<00:03:52.799> there's<00:03:53.000> an 00:03:53.149 --> 00:03:53.159 align:start position:0% difficult to do this and there's an 00:03:53.159 --> 00:03:54.830 align:start position:0% difficult to do this and there's an acceptance<00:03:53.560> that<00:03:53.760> most<00:03:53.879> of<00:03:54.000> these<00:03:54.159> bets<00:03:54.680> are 00:03:54.830 --> 00:03:54.840 align:start position:0% acceptance that most of these bets are 00:03:54.840 --> 00:03:57.710 align:start position:0% acceptance that most of these bets are not<00:03:55.040> going<00:03:55.200> to<00:03:55.360> work<00:03:56.040> out<00:03:57.040> uh<00:03:57.120> so<00:03:57.319> perspective 00:03:57.710 --> 00:03:57.720 align:start position:0% not going to work out uh so perspective 00:03:57.720 --> 00:04:01.149 align:start position:0% not going to work out uh so perspective funding<00:03:58.000> is<00:03:58.360> hard<00:03:59.360> retro<00:03:59.879> funding<00:04:00.599> is<00:04:00.879> based 00:04:01.149 --> 00:04:01.159 align:start position:0% funding is hard retro funding is based 00:04:01.159 --> 00:04:03.550 align:start position:0% funding is hard retro funding is based on<00:04:01.280> the<00:04:01.400> principle<00:04:02.400> that<00:04:02.519> it<00:04:02.640> is<00:04:02.879> easier<00:04:03.280> to 00:04:03.550 --> 00:04:03.560 align:start position:0% on the principle that it is easier to 00:04:03.560 --> 00:04:06.229 align:start position:0% on the principle that it is easier to identify<00:04:04.560> something<00:04:04.879> that<00:04:05.120> has<00:04:05.319> worked 00:04:06.229 --> 00:04:06.239 align:start position:0% identify something that has worked 00:04:06.239 --> 00:04:08.750 align:start position:0% identify something that has worked looking<00:04:06.680> back<00:04:07.319> than<00:04:07.439> to<00:04:07.640> predict<00:04:07.959> it<00:04:08.519> going 00:04:08.750 --> 00:04:08.760 align:start position:0% looking back than to predict it going 00:04:08.760 --> 00:04:11.069 align:start position:0% looking back than to predict it going forward<00:04:09.760> um<00:04:09.920> vital<00:04:10.319> kelp<00:04:10.560> designed<00:04:10.879> the 00:04:11.069 --> 00:04:11.079 align:start position:0% forward um vital kelp designed the 00:04:11.079 --> 00:04:13.229 align:start position:0% forward um vital kelp designed the mechanism<00:04:12.079> optimism<00:04:12.560> has<00:04:12.680> been<00:04:12.840> rolling<00:04:13.120> it 00:04:13.229 --> 00:04:13.239 align:start position:0% mechanism optimism has been rolling it 00:04:13.239 --> 00:04:18.030 align:start position:0% mechanism optimism has been rolling it out<00:04:14.079> and<00:04:15.079> uh<00:04:15.319> it's<00:04:15.599> a<00:04:16.160> pretty<00:04:16.479> unique<00:04:16.959> way<00:04:17.479> of 00:04:18.030 --> 00:04:18.040 align:start position:0% out and uh it's a pretty unique way of 00:04:18.040 --> 00:04:19.949 align:start position:0% out and uh it's a pretty unique way of creating<00:04:18.440> markets<00:04:19.120> around 00:04:19.949 --> 00:04:19.959 align:start position:0% creating markets around 00:04:19.959 --> 00:04:22.590 align:start position:0% creating markets around impact<00:04:20.959> now<00:04:21.199> to<00:04:21.359> be<00:04:21.479> clear<00:04:21.799> I<00:04:21.880> don't<00:04:22.040> think<00:04:22.199> the 00:04:22.590 --> 00:04:22.600 align:start position:0% impact now to be clear I don't think the 00:04:22.600 --> 00:04:25.710 align:start position:0% impact now to be clear I don't think the most<00:04:23.600> uh<00:04:23.960> die<00:04:24.120> in<00:04:24.240> the<00:04:24.360> wool<00:04:25.120> retr<00:04:25.440> funding 00:04:25.710 --> 00:04:25.720 align:start position:0% most uh die in the wool retr funding 00:04:25.720 --> 00:04:27.510 align:start position:0% most uh die in the wool retr funding Maxi<00:04:26.199> would<00:04:26.320> say<00:04:26.560> that<00:04:26.759> retr<00:04:27.080> funding<00:04:27.320> is<00:04:27.440> the 00:04:27.510 --> 00:04:27.520 align:start position:0% Maxi would say that retr funding is the 00:04:27.520 --> 00:04:28.590 align:start position:0% Maxi would say that retr funding is the only<00:04:27.720> way<00:04:27.880> that<00:04:28.000> anything<00:04:28.240> in<00:04:28.320> the<00:04:28.400> world 00:04:28.590 --> 00:04:28.600 align:start position:0% only way that anything in the world 00:04:28.600 --> 00:04:31.390 align:start position:0% only way that anything in the world should<00:04:28.720> be<00:04:28.840> funded<00:04:29.960> but<00:04:30.199> the<00:04:30.759> important<00:04:31.120> Point 00:04:31.390 --> 00:04:31.400 align:start position:0% should be funded but the important Point 00:04:31.400 --> 00:04:34.029 align:start position:0% should be funded but the important Point here<00:04:31.759> is<00:04:31.919> that<00:04:32.120> right<00:04:32.280> now<00:04:32.520> we<00:04:32.759> have<00:04:33.440> a<00:04:33.600> surplus 00:04:34.029 --> 00:04:34.039 align:start position:0% here is that right now we have a surplus 00:04:34.039 --> 00:04:35.590 align:start position:0% here is that right now we have a surplus of<00:04:34.240> or<00:04:34.360> not<00:04:34.479> a<00:04:34.600> surplus<00:04:34.960> but<00:04:35.080> a<00:04:35.199> large<00:04:35.400> amount 00:04:35.590 --> 00:04:35.600 align:start position:0% of or not a surplus but a large amount 00:04:35.600 --> 00:04:37.510 align:start position:0% of or not a surplus but a large amount of<00:04:35.720> perspective<00:04:36.120> funding<00:04:36.840> and<00:04:37.039> we<00:04:37.160> need<00:04:37.320> more 00:04:37.510 --> 00:04:37.520 align:start position:0% of perspective funding and we need more 00:04:37.520 --> 00:04:39.670 align:start position:0% of perspective funding and we need more Retros<00:04:38.520> retrospective<00:04:39.120> funding<00:04:39.479> in<00:04:39.560> the 00:04:39.670 --> 00:04:39.680 align:start position:0% Retros retrospective funding in the 00:04:39.680 --> 00:04:41.870 align:start position:0% Retros retrospective funding in the world<00:04:40.080> to<00:04:40.240> Signal<00:04:40.600> what<00:04:40.720> things<00:04:40.919> we<00:04:41.120> value<00:04:41.759> and 00:04:41.870 --> 00:04:41.880 align:start position:0% world to Signal what things we value and 00:04:41.880 --> 00:04:43.430 align:start position:0% world to Signal what things we value and drive<00:04:42.160> more<00:04:42.320> people<00:04:42.520> to<00:04:42.680> build<00:04:43.080> in<00:04:43.240> those 00:04:43.430 --> 00:04:43.440 align:start position:0% drive more people to build in those 00:04:43.440 --> 00:04:44.710 align:start position:0% drive more people to build in those directions<00:04:44.160> and<00:04:44.240> so<00:04:44.360> that's<00:04:44.440> what<00:04:44.520> we'll<00:04:44.639> be 00:04:44.710 --> 00:04:44.720 align:start position:0% directions and so that's what we'll be 00:04:44.720 --> 00:04:46.270 align:start position:0% directions and so that's what we'll be talking<00:04:44.880> about 00:04:46.270 --> 00:04:46.280 align:start position:0% talking about 00:04:46.280 --> 00:04:49.430 align:start position:0% talking about today<00:04:47.280> uh<00:04:47.800> at<00:04:47.960> launch<00:04:48.479> optimism<00:04:48.960> allocated 00:04:49.430 --> 00:04:49.440 align:start position:0% today uh at launch optimism allocated 00:04:49.440 --> 00:04:52.189 align:start position:0% today uh at launch optimism allocated 850<00:04:50.199> million<00:04:50.680> tokens<00:04:51.039> from<00:04:51.199> its<00:04:51.360> treasury<00:04:52.000> to 00:04:52.189 --> 00:04:52.199 align:start position:0% 850 million tokens from its treasury to 00:04:52.199 --> 00:04:54.749 align:start position:0% 850 million tokens from its treasury to retr<00:04:52.520> funding<00:04:53.039> this<00:04:53.120> is<00:04:53.240> a<00:04:53.360> big<00:04:53.520> deal<00:04:54.479> and<00:04:54.639> they 00:04:54.749 --> 00:04:54.759 align:start position:0% retr funding this is a big deal and they 00:04:54.759 --> 00:04:56.430 align:start position:0% retr funding this is a big deal and they made<00:04:54.919> a<00:04:55.080> promise<00:04:55.520> that<00:04:55.639> if<00:04:55.720> you<00:04:55.840> create<00:04:56.160> impact 00:04:56.430 --> 00:04:56.440 align:start position:0% made a promise that if you create impact 00:04:56.440 --> 00:04:58.230 align:start position:0% made a promise that if you create impact on<00:04:56.560> the<00:04:56.680> optimism<00:04:57.120> Collective<00:04:57.800> you<00:04:57.919> will<00:04:58.080> be 00:04:58.230 --> 00:04:58.240 align:start position:0% on the optimism Collective you will be 00:04:58.240 --> 00:05:00.390 align:start position:0% on the optimism Collective you will be rewarded<00:04:58.680> for<00:04:58.880> that<00:04:59.080> impact<00:05:00.080> what<00:05:00.240> that 00:05:00.390 --> 00:05:00.400 align:start position:0% rewarded for that impact what that 00:05:00.400 --> 00:05:03.390 align:start position:0% rewarded for that impact what that impact<00:05:00.800> is<00:05:01.360> how<00:05:01.479> it<00:05:01.560> will<00:05:01.680> be<00:05:01.840> rewarded<00:05:02.600> TBD 00:05:03.390 --> 00:05:03.400 align:start position:0% impact is how it will be rewarded TBD 00:05:03.400 --> 00:05:05.670 align:start position:0% impact is how it will be rewarded TBD but<00:05:03.560> that's<00:05:03.680> what<00:05:03.800> we're<00:05:03.960> here<00:05:04.160> to 00:05:05.670 --> 00:05:05.680 align:start position:0% but that's what we're here to 00:05:05.680 --> 00:05:08.510 align:start position:0% but that's what we're here to discuss<00:05:06.680> uh<00:05:06.840> now<00:05:07.039> to<00:05:07.199> date<00:05:07.479> optimism<00:05:08.160> has 00:05:08.510 --> 00:05:08.520 align:start position:0% discuss uh now to date optimism has 00:05:08.520 --> 00:05:10.950 align:start position:0% discuss uh now to date optimism has deployed<00:05:09.520> around<00:05:09.880> 60<00:05:10.199> million<00:05:10.440> op<00:05:10.759> or<00:05:10.840> as 00:05:10.950 --> 00:05:10.960 align:start position:0% deployed around 60 million op or as 00:05:10.960 --> 00:05:12.310 align:start position:0% deployed around 60 million op or as least<00:05:11.160> allocated<00:05:11.639> not<00:05:11.759> all<00:05:11.880> that<00:05:12.039> has<00:05:12.160> gone 00:05:12.310 --> 00:05:12.320 align:start position:0% least allocated not all that has gone 00:05:12.320 --> 00:05:14.510 align:start position:0% least allocated not all that has gone out<00:05:12.440> the<00:05:12.600> door<00:05:13.400> um<00:05:13.639> which<00:05:13.759> is<00:05:13.960> a<00:05:14.120> pretty<00:05:14.320> small 00:05:14.510 --> 00:05:14.520 align:start position:0% out the door um which is a pretty small 00:05:14.520 --> 00:05:16.150 align:start position:0% out the door um which is a pretty small share<00:05:14.880> of<00:05:14.960> its<00:05:15.120> treasury<00:05:15.759> even<00:05:15.919> though<00:05:16.080> this 00:05:16.150 --> 00:05:16.160 align:start position:0% share of its treasury even though this 00:05:16.160 --> 00:05:18.309 align:start position:0% share of its treasury even though this is<00:05:16.280> a<00:05:16.400> large<00:05:16.680> sum<00:05:16.960> of<00:05:17.120> tokens<00:05:17.880> we're<00:05:18.080> still 00:05:18.309 --> 00:05:18.319 align:start position:0% is a large sum of tokens we're still 00:05:18.319 --> 00:05:20.510 align:start position:0% is a large sum of tokens we're still very<00:05:18.520> much<00:05:18.800> in<00:05:18.919> the<00:05:19.039> early<00:05:19.319> Innings<00:05:20.120> and<00:05:20.280> each 00:05:20.510 --> 00:05:20.520 align:start position:0% very much in the early Innings and each 00:05:20.520 --> 00:05:22.029 align:start position:0% very much in the early Innings and each round<00:05:20.759> has<00:05:20.919> been<00:05:21.080> designed<00:05:21.520> around<00:05:21.840> a 00:05:22.029 --> 00:05:22.039 align:start position:0% round has been designed around a 00:05:22.039 --> 00:05:24.430 align:start position:0% round has been designed around a specific<00:05:22.440> set<00:05:22.600> of<00:05:23.160> experiments<00:05:23.840> hypotheses 00:05:24.430 --> 00:05:24.440 align:start position:0% specific set of experiments hypotheses 00:05:24.440 --> 00:05:26.510 align:start position:0% specific set of experiments hypotheses that<00:05:24.560> they<00:05:24.639> wanted<00:05:24.880> to<00:05:25.039> test<00:05:25.960> round<00:05:26.199> one<00:05:26.479> I 00:05:26.510 --> 00:05:26.520 align:start position:0% that they wanted to test round one I 00:05:26.520 --> 00:05:28.590 align:start position:0% that they wanted to test round one I think<00:05:26.680> was<00:05:26.800> completely<00:05:27.120> offchain<00:05:27.840> it<00:05:27.960> was<00:05:28.160> a 00:05:28.590 --> 00:05:28.600 align:start position:0% think was completely offchain it was a 00:05:28.600 --> 00:05:31.469 align:start position:0% think was completely offchain it was a proof<00:05:28.840> of<00:05:29.039> concept<00:05:30.039> about<00:05:30.240> 50<00:05:30.639> projects<00:05:31.199> no 00:05:31.469 --> 00:05:31.479 align:start position:0% proof of concept about 50 projects no 00:05:31.479 --> 00:05:33.230 align:start position:0% proof of concept about 50 projects no applications<00:05:32.199> the<00:05:32.319> selection<00:05:32.680> was<00:05:32.840> done<00:05:33.160> I 00:05:33.230 --> 00:05:33.240 align:start position:0% applications the selection was done I 00:05:33.240 --> 00:05:36.189 align:start position:0% applications the selection was done I think<00:05:33.400> by<00:05:33.520> the<00:05:33.680> op<00:05:33.960> Labs<00:05:34.520> team<00:05:35.520> rounds<00:05:35.880> two<00:05:36.039> and 00:05:36.189 --> 00:05:36.199 align:start position:0% think by the op Labs team rounds two and 00:05:36.199 --> 00:05:37.550 align:start position:0% think by the op Labs team rounds two and three<00:05:36.400> are<00:05:36.520> where<00:05:36.680> this<00:05:36.840> program<00:05:37.160> gained<00:05:37.440> a 00:05:37.550 --> 00:05:37.560 align:start position:0% three are where this program gained a 00:05:37.560 --> 00:05:40.390 align:start position:0% three are where this program gained a lot<00:05:37.800> of<00:05:38.319> recognition<00:05:39.319> they<00:05:39.440> were<00:05:39.720> big<00:05:40.039> Mega 00:05:40.390 --> 00:05:40.400 align:start position:0% lot of recognition they were big Mega 00:05:40.400 --> 00:05:43.469 align:start position:0% lot of recognition they were big Mega rounds<00:05:41.120> 40<00:05:41.479> million<00:05:41.720> op<00:05:42.319> went<00:05:42.520> out<00:05:42.919> in<00:05:43.120> total 00:05:43.469 --> 00:05:43.479 align:start position:0% rounds 40 million op went out in total 00:05:43.479 --> 00:05:45.830 align:start position:0% rounds 40 million op went out in total more<00:05:43.639> than<00:05:43.800> 600<00:05:44.280> projects<00:05:44.840> participated 00:05:45.830 --> 00:05:45.840 align:start position:0% more than 600 projects participated 00:05:45.840 --> 00:05:47.950 align:start position:0% more than 600 projects participated there<00:05:45.960> were<00:05:46.199> 100<00:05:46.400> badge<00:05:46.759> holders<00:05:47.520> um<00:05:47.720> also 00:05:47.950 --> 00:05:47.960 align:start position:0% there were 100 badge holders um also 00:05:47.960 --> 00:05:50.510 align:start position:0% there were 100 badge holders um also known<00:05:48.160> as<00:05:48.400> Citizens<00:05:49.400> uh<00:05:49.520> who<00:05:49.600> were<00:05:49.800> voting<00:05:50.199> on 00:05:50.510 --> 00:05:50.520 align:start position:0% known as Citizens uh who were voting on 00:05:50.520 --> 00:05:53.150 align:start position:0% known as Citizens uh who were voting on projects<00:05:51.479> um<00:05:51.720> I<00:05:51.840> was<00:05:51.960> a<00:05:52.080> badge<00:05:52.400> holder<00:05:52.960> I<00:05:53.039> think 00:05:53.150 --> 00:05:53.160 align:start position:0% projects um I was a badge holder I think 00:05:53.160 --> 00:05:55.070 align:start position:0% projects um I was a badge holder I think there<00:05:53.280> a<00:05:53.400> few<00:05:53.759> in<00:05:53.840> the<00:05:53.960> room<00:05:54.240> still<00:05:54.880> but<00:05:55.000> they 00:05:55.070 --> 00:05:55.080 align:start position:0% there a few in the room still but they 00:05:55.080 --> 00:05:56.430 align:start position:0% there a few in the room still but they were<00:05:55.199> given<00:05:55.440> this<00:05:55.600> enormous<00:05:56.039> task<00:05:56.280> of 00:05:56.430 --> 00:05:56.440 align:start position:0% were given this enormous task of 00:05:56.440 --> 00:05:57.749 align:start position:0% were given this enormous task of reviewing<00:05:56.800> all<00:05:57.039> these<00:05:57.280> projects<00:05:57.600> and 00:05:57.749 --> 00:05:57.759 align:start position:0% reviewing all these projects and 00:05:57.759 --> 00:05:59.749 align:start position:0% reviewing all these projects and identifying<00:05:58.680> which<00:05:58.880> ones<00:05:59.160> they<00:05:59.280> thought 00:05:59.749 --> 00:05:59.759 align:start position:0% identifying which ones they thought 00:05:59.759 --> 00:06:01.950 align:start position:0% identifying which ones they thought should<00:06:00.000> deserve<00:06:00.680> a<00:06:00.759> certain<00:06:01.000> amount<00:06:01.199> of 00:06:01.950 --> 00:06:01.960 align:start position:0% should deserve a certain amount of 00:06:01.960 --> 00:06:04.550 align:start position:0% should deserve a certain amount of funding<00:06:02.960> in<00:06:03.160> response<00:06:03.440> to<00:06:03.560> the<00:06:03.639> mega<00:06:03.960> rounds 00:06:04.550 --> 00:06:04.560 align:start position:0% funding in response to the mega rounds 00:06:04.560 --> 00:06:09.589 align:start position:0% funding in response to the mega rounds in<00:06:04.880> in<00:06:05.039> 2024<00:06:05.800> this<00:06:06.000> past<00:06:06.280> year<00:06:07.199> um 00:06:09.589 --> 00:06:09.599 align:start position:0% in in 2024 this past year um 00:06:09.599 --> 00:06:11.629 align:start position:0% in in 2024 this past year um optimism<00:06:10.599> uh<00:06:10.680> changed<00:06:11.039> the<00:06:11.120> scope<00:06:11.360> a<00:06:11.479> little 00:06:11.629 --> 00:06:11.639 align:start position:0% optimism uh changed the scope a little 00:06:11.639 --> 00:06:12.950 align:start position:0% optimism uh changed the scope a little bit<00:06:11.880> and<00:06:12.000> instead<00:06:12.240> of<00:06:12.400> having<00:06:12.599> these<00:06:12.720> large 00:06:12.950 --> 00:06:12.960 align:start position:0% bit and instead of having these large 00:06:12.960 --> 00:06:14.990 align:start position:0% bit and instead of having these large Mega<00:06:13.280> rounds<00:06:13.919> they<00:06:14.039> move<00:06:14.280> to<00:06:14.400> a<00:06:14.520> system<00:06:14.840> where 00:06:14.990 --> 00:06:15.000 align:start position:0% Mega rounds they move to a system where 00:06:15.000 --> 00:06:17.309 align:start position:0% Mega rounds they move to a system where you<00:06:15.240> have<00:06:15.759> smaller<00:06:16.400> more<00:06:16.639> tightly<00:06:16.919> scoped 00:06:17.309 --> 00:06:17.319 align:start position:0% you have smaller more tightly scoped 00:06:17.319 --> 00:06:20.469 align:start position:0% you have smaller more tightly scoped rounds<00:06:18.160> with<00:06:18.440> tighter<00:06:18.759> eligibility<00:06:19.479> criteria 00:06:20.469 --> 00:06:20.479 align:start position:0% rounds with tighter eligibility criteria 00:06:20.479 --> 00:06:22.629 align:start position:0% rounds with tighter eligibility criteria and<00:06:20.800> in<00:06:21.000> those<00:06:21.199> rounds<00:06:21.560> they<00:06:21.720> also<00:06:22.000> tested 00:06:22.629 --> 00:06:22.639 align:start position:0% and in those rounds they also tested 00:06:22.639 --> 00:06:24.589 align:start position:0% and in those rounds they also tested different<00:06:22.960> experiments<00:06:23.759> around<00:06:24.319> badge 00:06:24.589 --> 00:06:24.599 align:start position:0% different experiments around badge 00:06:24.599 --> 00:06:26.469 align:start position:0% different experiments around badge holders<00:06:24.960> and<00:06:25.120> guest<00:06:25.360> voters<00:06:25.720> and 00:06:26.469 --> 00:06:26.479 align:start position:0% holders and guest voters and 00:06:26.479 --> 00:06:28.629 align:start position:0% holders and guest voters and expertise<00:06:27.479> and<00:06:27.639> total<00:06:27.880> about<00:06:28.039> 18<00:06:28.240> million<00:06:28.479> has 00:06:28.629 --> 00:06:28.639 align:start position:0% expertise and total about 18 million has 00:06:28.639 --> 00:06:31.029 align:start position:0% expertise and total about 18 million has gone<00:06:28.800> out<00:06:29.240> and<00:06:29.360> there's<00:06:29.639> more<00:06:29.800> allocated<00:06:30.720> um 00:06:31.029 --> 00:06:31.039 align:start position:0% gone out and there's more allocated um 00:06:31.039 --> 00:06:35.909 align:start position:0% gone out and there's more allocated um through<00:06:31.240> the<00:06:31.360> end<00:06:31.560> of 00:06:35.909 --> 00:06:35.919 align:start position:0% 00:06:35.919 --> 00:06:38.629 align:start position:0% 2024<00:06:36.919> again<00:06:37.280> we're<00:06:37.479> going<00:06:37.560> to<00:06:37.680> be<00:06:37.840> looking<00:06:38.199> at 00:06:38.629 --> 00:06:38.639 align:start position:0% 2024 again we're going to be looking at 00:06:38.639 --> 00:06:41.309 align:start position:0% 2024 again we're going to be looking at the<00:06:38.840> results<00:06:39.280> of<00:06:39.400> the<00:06:39.560> program<00:06:39.960> so<00:06:40.160> far<00:06:41.039> but 00:06:41.309 --> 00:06:41.319 align:start position:0% the results of the program so far but 00:06:41.319 --> 00:06:42.830 align:start position:0% the results of the program so far but putting<00:06:41.599> this<00:06:41.720> in<00:06:41.840> the<00:06:42.000> scale<00:06:42.400> of<00:06:42.599> other 00:06:42.830 --> 00:06:42.840 align:start position:0% putting this in the scale of other 00:06:42.840 --> 00:06:44.589 align:start position:0% putting this in the scale of other public<00:06:43.080> goods<00:06:43.319> funding<00:06:43.680> experiments<00:06:44.319> this<00:06:44.400> is 00:06:44.589 --> 00:06:44.599 align:start position:0% public goods funding experiments this is 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position:0% the fact that this was a real experiment of<00:06:54.599> significant<00:06:55.080> scale<00:06:55.400> was<00:06:55.560> What<00:06:55.680> attracted 00:06:56.070 --> 00:06:56.080 align:start position:0% of significant scale was What attracted 00:06:56.080 --> 00:06:58.390 align:start position:0% of significant scale was What attracted us<00:06:56.199> to<00:06:56.360> want<00:06:56.479> to<00:06:56.800> pay<00:06:56.960> attention<00:06:57.560> and<00:06:57.720> work<00:06:58.199> at 00:06:58.390 --> 00:06:58.400 align:start position:0% us to want to pay attention and work at 00:06:58.400 --> 00:07:00.270 align:start position:0% us to want to pay attention and work at optimism<00:06:59.400> um<00:06:59.599> there's<00:06:59.720> a<00:06:59.759> lot<00:06:59.840> of<00:06:59.960> economists 00:07:00.270 --> 00:07:00.280 align:start position:0% optimism um there's a lot of economists 00:07:00.280 --> 00:07:01.830 align:start position:0% optimism um there's a lot of economists that<00:07:00.400> like<00:07:00.560> writing<00:07:00.759> long<00:07:00.960> papers<00:07:01.440> about<00:07:01.680> how 00:07:01.830 --> 00:07:01.840 align:start position:0% that like writing long papers about how 00:07:01.840 --> 00:07:04.309 align:start position:0% that like writing long papers about how public<00:07:02.080> goods<00:07:02.319> funding<00:07:02.919> is<00:07:03.080> broken<00:07:04.000> but<00:07:04.120> here 00:07:04.309 --> 00:07:04.319 align:start position:0% public goods funding is broken but here 00:07:04.319 --> 00:07:06.070 align:start position:0% public goods funding is broken but here was<00:07:04.440> a<00:07:04.560> real<00:07:04.879> chance<00:07:05.120> to<00:07:05.280> throw<00:07:05.800> magic 00:07:06.070 --> 00:07:06.080 align:start position:0% was a real chance to throw magic 00:07:06.080 --> 00:07:08.189 align:start position:0% was a real chance to throw magic internet<00:07:06.440> money<00:07:07.039> and<00:07:07.240> test<00:07:07.680> whether<00:07:07.879> we<00:07:08.000> could 00:07:08.189 --> 00:07:08.199 align:start position:0% internet money and test whether we could 00:07:08.199 --> 00:07:10.189 align:start position:0% internet money and test whether we could actually<00:07:08.440> change<00:07:08.720> the<00:07:08.840> incentive<00:07:09.240> landscape 00:07:10.189 --> 00:07:10.199 align:start position:0% actually change the incentive landscape 00:07:10.199 --> 00:07:11.110 align:start position:0% actually change the incentive landscape um<00:07:10.319> so<00:07:10.440> I<00:07:10.520> think<00:07:10.639> people<00:07:10.800> should<00:07:10.960> pay 00:07:11.110 --> 00:07:11.120 align:start position:0% um so I think people should pay 00:07:11.120 --> 00:07:12.589 align:start position:0% um so I think people should pay attention<00:07:11.400> to<00:07:11.599> this<00:07:11.840> regardless<00:07:12.280> of<00:07:12.440> whether 00:07:12.589 --> 00:07:12.599 align:start position:0% attention to this regardless of whether 00:07:12.599 --> 00:07:14.749 align:start position:0% attention to this regardless of whether they<00:07:12.759> participate<00:07:13.199> directly<00:07:13.520> or 00:07:14.749 --> 00:07:14.759 align:start position:0% they participate directly or 00:07:14.759 --> 00:07:17.110 align:start position:0% they participate directly or not<00:07:15.759> but<00:07:16.000> first<00:07:16.440> because<00:07:16.680> the<00:07:16.800> only<00:07:16.960> thing 00:07:17.110 --> 00:07:17.120 align:start position:0% not but first because the only thing 00:07:17.120 --> 00:07:18.950 align:start position:0% not but first because the only thing that<00:07:17.240> people<00:07:17.520> like<00:07:17.879> more<00:07:18.400> than<00:07:18.599> throwing 00:07:18.950 --> 00:07:18.960 align:start position:0% that people like more than throwing 00:07:18.960 --> 00:07:20.790 align:start position:0% that people like more than throwing tokens<00:07:19.360> around<00:07:19.919> is<00:07:20.199> complaining<00:07:20.599> about 00:07:20.790 --> 00:07:20.800 align:start position:0% tokens around is complaining about 00:07:20.800 --> 00:07:22.710 align:start position:0% tokens around is complaining about things<00:07:21.000> on<00:07:21.120> Twitter<00:07:21.919> I<00:07:22.000> want<00:07:22.160> to<00:07:22.319> address<00:07:22.599> the 00:07:22.710 --> 00:07:22.720 align:start position:0% things on Twitter I want to address the 00:07:22.720 --> 00:07:25.390 align:start position:0% things on Twitter I want to address the few<00:07:22.960> myths<00:07:23.479> about<00:07:24.039> optimism<00:07:24.919> and<00:07:25.039> the<00:07:25.160> program 00:07:25.390 --> 00:07:25.400 align:start position:0% few myths about optimism and the program 00:07:25.400 --> 00:07:29.309 align:start position:0% few myths about optimism and the program of<00:07:25.560> retr<00:07:26.199> funding<00:07:27.199> uh<00:07:27.360> so<00:07:27.720> the<00:07:27.879> first<00:07:28.199> myth<00:07:29.080> is 00:07:29.309 --> 00:07:29.319 align:start position:0% of retr funding uh so the first myth is 00:07:29.319 --> 00:07:32.309 align:start position:0% of retr funding uh so the first myth is that<00:07:29.960> retr<00:07:30.280> funding<00:07:30.560> comes<00:07:30.800> with<00:07:31.319> conditions 00:07:32.309 --> 00:07:32.319 align:start position:0% that retr funding comes with conditions 00:07:32.319 --> 00:07:34.710 align:start position:0% that retr funding comes with conditions the<00:07:32.440> reality<00:07:33.120> is<00:07:33.240> the<00:07:33.440> projects<00:07:33.800> that<00:07:33.960> receive 00:07:34.710 --> 00:07:34.720 align:start position:0% the reality is the projects that receive 00:07:34.720 --> 00:07:36.950 align:start position:0% the reality is the projects that receive retr<00:07:35.039> funding<00:07:35.720> are<00:07:35.919> getting<00:07:36.240> with<00:07:36.400> no<00:07:36.560> strings 00:07:36.950 --> 00:07:36.960 align:start position:0% retr funding are getting with no strings 00:07:36.960 --> 00:07:38.790 align:start position:0% retr funding are getting with no strings attached<00:07:37.720> they<00:07:37.840> can<00:07:38.039> cash<00:07:38.240> out<00:07:38.560> they<00:07:38.680> can 00:07:38.790 --> 00:07:38.800 align:start position:0% attached they can cash out they can 00:07:38.800 --> 00:07:40.749 align:start position:0% attached they can cash out they can migrate<00:07:39.160> their<00:07:39.280> project<00:07:39.520> to<00:07:39.639> salana<00:07:40.520> they<00:07:40.599> can 00:07:40.749 --> 00:07:40.759 align:start position:0% migrate their project to salana they can 00:07:40.759 --> 00:07:42.990 align:start position:0% migrate their project to salana they can delegate<00:07:41.160> to<00:07:41.479> governance<00:07:42.479> um<00:07:42.599> or<00:07:42.759> they<00:07:42.879> can 00:07:42.990 --> 00:07:43.000 align:start position:0% delegate to governance um or they can 00:07:43.000 --> 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that<00:07:52.280> retr 00:07:52.589 --> 00:07:52.599 align:start position:0% optimism uh the second myth is that retr 00:07:52.599 --> 00:07:55.149 align:start position:0% optimism uh the second myth is that retr funding<00:07:52.919> is<00:07:53.080> optimism's<00:07:53.680> only<00:07:53.960> Grand<00:07:54.319> program 00:07:55.149 --> 00:07:55.159 align:start position:0% funding is optimism's only Grand program 00:07:55.159 --> 00:07:58.670 align:start position:0% funding is optimism's only Grand program this<00:07:55.280> is<00:07:55.440> also<00:07:55.680> not<00:07:55.840> true<00:07:56.680> um<00:07:57.240> it<00:07:57.360> is<00:07:57.639> also<00:07:58.440> oop 00:07:58.670 --> 00:07:58.680 align:start position:0% this is also not true um it is also oop 00:07:58.680 --> 00:08:01.189 align:start position:0% this is also not true um it is also oop sorry 00:08:01.189 --> 00:08:01.199 align:start position:0% sorry 00:08:01.199 --> 00:08:02.749 align:start position:0% sorry it<00:08:01.319> is<00:08:01.479> not<00:08:01.639> the<00:08:01.720> only<00:08:01.879> grants<00:08:02.240> program<00:08:02.560> it's 00:08:02.749 --> 00:08:02.759 align:start position:0% it is not the only grants program it's 00:08:02.759 --> 00:08:04.430 align:start position:0% it is not the only grants program it's also<00:08:02.960> not<00:08:03.120> the<00:08:03.240> largest<00:08:03.560> grants<00:08:03.960> program 00:08:04.430 --> 00:08:04.440 align:start position:0% also not the largest grants program 00:08:04.440 --> 00:08:06.950 align:start position:0% also not the largest grants program optimism<00:08:05.000> also<00:08:05.199> runs<00:08:05.639> prospective<00:08:06.080> funding 00:08:06.950 --> 00:08:06.960 align:start position:0% optimism also runs prospective funding 00:08:06.960 --> 00:08:09.270 align:start position:0% optimism also runs prospective funding uh<00:08:07.080> since<00:08:07.560> 2024<00:08:08.560> they've<00:08:08.800> given<00:08:08.960> out<00:08:09.159> more 00:08:09.270 --> 00:08:09.280 align:start position:0% uh since 2024 they've given out more 00:08:09.280 --> 00:08:11.629 align:start position:0% uh since 2024 they've given out more than<00:08:09.479> 60<00:08:09.800> million<00:08:10.120> I<00:08:10.240> believe<00:08:10.560> in<00:08:10.919> prospective 00:08:11.629 --> 00:08:11.639 align:start position:0% than 60 million I believe in prospective 00:08:11.639 --> 00:08:13.790 align:start position:0% than 60 million I believe in prospective Mission<00:08:12.000> based<00:08:12.440> grants<00:08:13.280> and<00:08:13.400> most<00:08:13.560> of<00:08:13.680> the 00:08:13.790 --> 00:08:13.800 align:start position:0% Mission based grants and most of the 00:08:13.800 --> 00:08:15.510 align:start position:0% Mission based grants and most of the projects<00:08:14.039> that<00:08:14.360> receiving<00:08:14.520> retr<00:08:14.840> funding 00:08:15.510 --> 00:08:15.520 align:start position:0% projects that receiving retr funding 00:08:15.520 --> 00:08:17.629 align:start position:0% projects that receiving retr funding have<00:08:15.720> also<00:08:16.120> received<00:08:16.400> some<00:08:16.599> form<00:08:17.120> or<00:08:17.319> a<00:08:17.440> large 00:08:17.629 --> 00:08:17.639 align:start position:0% have also received some form or a large 00:08:17.639 --> 00:08:18.629 align:start position:0% have also received some form or a large number<00:08:17.840> of<00:08:17.919> the<00:08:18.000> products<00:08:18.280> that<00:08:18.360> have 00:08:18.629 --> 00:08:18.639 align:start position:0% number of the products that have 00:08:18.639 --> 00:08:19.710 align:start position:0% number of the products that have received<00:08:18.800> retr<00:08:19.080> funding<00:08:19.360> have<00:08:19.479> also 00:08:19.710 --> 00:08:19.720 align:start position:0% received retr funding have also 00:08:19.720 --> 00:08:22.270 align:start position:0% received retr funding have also participated<00:08:20.280> in<00:08:20.440> these<00:08:20.720> prospective<00:08:21.280> grants 00:08:22.270 --> 00:08:22.280 align:start position:0% participated in these prospective grants 00:08:22.280 --> 00:08:25.629 align:start position:0% participated in these prospective grants um<00:08:23.120> I<00:08:23.199> think<00:08:23.360> there's<00:08:23.720> a<00:08:24.319> uh<00:08:24.960> a<00:08:25.120> narrative<00:08:25.520> that 00:08:25.629 --> 00:08:25.639 align:start position:0% um I think there's a uh a narrative that 00:08:25.639 --> 00:08:27.350 align:start position:0% um I think there's a uh a narrative that optimism<00:08:26.120> expects<00:08:26.440> all<00:08:26.520> of<00:08:26.639> its<00:08:26.800> teams<00:08:27.240> to 00:08:27.350 --> 00:08:27.360 align:start position:0% optimism expects all of its teams to 00:08:27.360 --> 00:08:29.550 align:start position:0% optimism expects all of its teams to work<00:08:27.520> for<00:08:27.680> free<00:08:28.000> and<00:08:28.120> pray<00:08:28.319> for<00:08:28.440> retr<00:08:28.720> funding 00:08:29.550 --> 00:08:29.560 align:start position:0% work for free and pray for retr funding 00:08:29.560 --> 00:08:30.950 align:start position:0% work for free and pray for retr funding is<00:08:29.680> not<00:08:29.840> the<00:08:30.000> case<00:08:30.400> there<00:08:30.520> are<00:08:30.639> various 00:08:30.950 --> 00:08:30.960 align:start position:0% is not the case there are various 00:08:30.960 --> 00:08:32.709 align:start position:0% is not the case there are various mechanisms<00:08:31.520> and<00:08:31.639> retr<00:08:31.960> funding<00:08:32.279> is<00:08:32.440> just<00:08:32.599> one 00:08:32.709 --> 00:08:32.719 align:start position:0% mechanisms and retr funding is just one 00:08:32.719 --> 00:08:34.230 align:start position:0% mechanisms and retr funding is just one of<00:08:32.880> them<00:08:33.320> and<00:08:33.479> obviously<00:08:33.880> the<00:08:34.000> most 00:08:34.230 --> 00:08:34.240 align:start position:0% of them and obviously the most 00:08:34.240 --> 00:08:36.149 align:start position:0% of them and obviously the most experimental<00:08:34.959> at<00:08:35.080> this 00:08:36.149 --> 00:08:36.159 align:start position:0% experimental at this 00:08:36.159 --> 00:08:38.630 align:start position:0% experimental at this point<00:08:37.159> myth<00:08:37.399> number<00:08:37.680> three<00:08:38.000> optimism<00:08:38.479> no 00:08:38.630 --> 00:08:38.640 align:start position:0% point myth number three optimism no 00:08:38.640 --> 00:08:40.269 align:start position:0% point myth number three optimism no longer<00:08:38.919> cares<00:08:39.200> about<00:08:39.399> public<00:08:39.680> goods<00:08:40.080> you've 00:08:40.269 --> 00:08:40.279 align:start position:0% longer cares about public goods you've 00:08:40.279 --> 00:08:41.949 align:start position:0% longer cares about public goods you've probably<00:08:40.479> heard<00:08:40.719> this<00:08:40.880> before<00:08:41.279> if<00:08:41.360> you<00:08:41.519> follow 00:08:41.949 --> 00:08:41.959 align:start position:0% probably heard this before if you follow 00:08:41.959 --> 00:08:44.750 align:start position:0% probably heard this before if you follow the<00:08:42.479> the<00:08:42.599> optimism<00:08:43.039> narrative<00:08:43.519> on<00:08:43.680> on<00:08:43.800> Twitter 00:08:44.750 --> 00:08:44.760 align:start position:0% the the optimism narrative on on Twitter 00:08:44.760 --> 00:08:45.949 align:start position:0% the the optimism narrative on on Twitter um<00:08:44.920> I<00:08:45.000> think<00:08:45.120> this<00:08:45.240> narrative<00:08:45.640> really<00:08:45.800> took 00:08:45.949 --> 00:08:45.959 align:start position:0% um I think this narrative really took 00:08:45.959 --> 00:08:47.509 align:start position:0% um I think this narrative really took root<00:08:46.240> after<00:08:46.440> optimism<00:08:46.880> changed<00:08:47.160> the<00:08:47.240> name<00:08:47.399> of 00:08:47.509 --> 00:08:47.519 align:start position:0% root after optimism changed the name of 00:08:47.519 --> 00:08:49.310 align:start position:0% root after optimism changed the name of the<00:08:47.680> program<00:08:48.480> uh<00:08:48.560> but<00:08:48.680> the<00:08:48.760> reality<00:08:49.080> is<00:08:49.200> that 00:08:49.310 --> 00:08:49.320 align:start position:0% the program uh but the reality is that 00:08:49.320 --> 00:08:51.590 align:start position:0% the program uh but the reality is that there<00:08:49.440> was<00:08:49.600> never<00:08:50.000> a<00:08:50.680> formal<00:08:51.120> definition<00:08:51.519> of 00:08:51.590 --> 00:08:51.600 align:start position:0% there was never a formal definition of 00:08:51.600 --> 00:08:53.990 align:start position:0% there was never a formal definition of what<00:08:51.720> a<00:08:51.839> public<00:08:52.080> good<00:08:52.320> is<00:08:53.000> optimism<00:08:53.640> and<00:08:53.880> I 00:08:53.990 --> 00:08:54.000 align:start position:0% what a public good is optimism and I 00:08:54.000 --> 00:08:55.350 align:start position:0% what a public good is optimism and I kind<00:08:54.120> of<00:08:54.200> agree<00:08:54.440> with<00:08:54.560> this<00:08:54.720> definition<00:08:55.160> have 00:08:55.350 --> 00:08:55.360 align:start position:0% kind of agree with this definition have 00:08:55.360 --> 00:08:57.829 align:start position:0% kind of agree with this definition have always<00:08:55.560> viewed<00:08:55.800> it<00:08:55.959> as<00:08:56.200> a<00:08:56.519> kind<00:08:56.640> of<00:08:56.760> a<00:08:56.880> spectrum 00:08:57.829 --> 00:08:57.839 align:start position:0% always viewed it as a kind of a spectrum 00:08:57.839 --> 00:08:59.430 align:start position:0% always viewed it as a kind of a spectrum and<00:08:58.040> the<00:08:58.160> role<00:08:58.399> of<00:08:58.519> retr<00:08:58.800> funding<00:08:59.040> is<00:08:59.120> to<00:08:59.240> fill 00:08:59.430 --> 00:08:59.440 align:start position:0% and the role of retr funding is to fill 00:08:59.440 --> 00:09:01.790 align:start position:0% and the role of retr funding is to fill fill<00:08:59.600> the<00:08:59.720> Gap<00:09:00.120> is<00:09:00.399> identify<00:09:01.360> where<00:09:01.519> is<00:09:01.640> the 00:09:01.790 --> 00:09:01.800 align:start position:0% fill the Gap is identify where is the 00:09:01.800 --> 00:09:04.190 align:start position:0% fill the Gap is identify where is the market<00:09:02.240> not<00:09:02.519> effective<00:09:02.880> in<00:09:03.040> rewarding<00:09:03.480> impact 00:09:04.190 --> 00:09:04.200 align:start position:0% market not effective in rewarding impact 00:09:04.200 --> 00:09:06.430 align:start position:0% market not effective in rewarding impact and<00:09:04.320> using<00:09:04.640> tokens<00:09:05.040> strategically<00:09:06.000> to<00:09:06.160> fill 00:09:06.430 --> 00:09:06.440 align:start position:0% and using tokens strategically to fill 00:09:06.440 --> 00:09:07.750 align:start position:0% and using tokens strategically to fill that 00:09:07.750 --> 00:09:07.760 align:start position:0% that 00:09:07.760 --> 00:09:11.150 align:start position:0% that Gap<00:09:08.760> myth<00:09:09.040> number<00:09:09.279> four<00:09:09.720> VCB<00:09:10.480> projects<00:09:11.040> have 00:09:11.150 --> 00:09:11.160 align:start position:0% Gap myth number four VCB projects have 00:09:11.160 --> 00:09:13.710 align:start position:0% Gap myth number four VCB projects have an<00:09:11.320> unfair<00:09:12.160> Advantage<00:09:13.160> uh<00:09:13.240> we<00:09:13.360> can<00:09:13.519> actually 00:09:13.710 --> 00:09:13.720 align:start position:0% an unfair Advantage uh we can actually 00:09:13.720 --> 00:09:15.829 align:start position:0% an unfair Advantage uh we can actually check<00:09:13.920> the<00:09:14.040> data<00:09:14.480> on<00:09:14.720> this<00:09:15.120> and<00:09:15.320> what<00:09:15.480> we<00:09:15.600> see 00:09:15.829 --> 00:09:15.839 align:start position:0% check the data on this and what we see 00:09:15.839 --> 00:09:18.509 align:start position:0% check the data on this and what we see is<00:09:16.000> that<00:09:16.440> uh<00:09:16.519> VC<00:09:16.880> backed<00:09:17.240> projects<00:09:18.120> are<00:09:18.360> a 00:09:18.509 --> 00:09:18.519 align:start position:0% is that uh VC backed projects are a 00:09:18.519 --> 00:09:20.069 align:start position:0% is that uh VC backed projects are a relatively<00:09:19.000> small<00:09:19.279> number<00:09:19.480> of<00:09:19.600> the<00:09:19.760> projects 00:09:20.069 --> 00:09:20.079 align:start position:0% relatively small number of the projects 00:09:20.079 --> 00:09:21.870 align:start position:0% relatively small number of the projects that<00:09:20.200> have<00:09:20.480> received<00:09:20.680> retr<00:09:21.040> funding<00:09:21.680> and 00:09:21.870 --> 00:09:21.880 align:start position:0% that have received retr funding and 00:09:21.880 --> 00:09:23.389 align:start position:0% that have received retr funding and historically<00:09:22.399> they<00:09:22.519> have<00:09:22.640> not<00:09:22.839> performed<00:09:23.240> as 00:09:23.389 --> 00:09:23.399 align:start position:0% historically they have not performed as 00:09:23.399 --> 00:09:26.110 align:start position:0% historically they have not performed as well<00:09:23.760> as<00:09:24.040> projects<00:09:24.480> that<00:09:24.600> do<00:09:24.760> not<00:09:25.040> have<00:09:25.800> um<00:09:25.959> any 00:09:26.110 --> 00:09:26.120 align:start position:0% well as projects that do not have um any 00:09:26.120 --> 00:09:28.870 align:start position:0% well as projects that do not have um any VC<00:09:26.480> funding<00:09:27.240> so<00:09:27.440> at<00:09:27.560> least<00:09:27.760> to<00:09:27.959> date<00:09:28.440> VC 00:09:28.870 --> 00:09:28.880 align:start position:0% VC funding so at least to date VC 00:09:28.880 --> 00:09:30.949 align:start position:0% VC funding so at least to date VC projects<00:09:29.440> do<00:09:29.600> not<00:09:29.760> seem<00:09:29.959> to<00:09:30.079> have<00:09:30.240> any<00:09:30.519> unfair 00:09:30.949 --> 00:09:30.959 align:start position:0% projects do not seem to have any unfair 00:09:30.959 --> 00:09:32.269 align:start position:0% projects do not seem to have any unfair Advantage<00:09:31.560> even<00:09:31.720> though<00:09:31.880> there<00:09:31.959> are<00:09:32.120> some 00:09:32.269 --> 00:09:32.279 align:start position:0% Advantage even though there are some 00:09:32.279 --> 00:09:34.949 align:start position:0% Advantage even though there are some large<00:09:32.519> ones<00:09:32.760> that<00:09:32.880> have<00:09:33.040> participated<00:09:33.720> in<00:09:33.839> the 00:09:34.949 --> 00:09:34.959 align:start position:0% large ones that have participated in the 00:09:34.959 --> 00:09:37.389 align:start position:0% large ones that have participated in the rounds<00:09:35.959> and<00:09:36.200> myth<00:09:36.440> number<00:09:36.760> five<00:09:37.040> is<00:09:37.200> that 00:09:37.389 --> 00:09:37.399 align:start position:0% rounds and myth number five is that 00:09:37.399 --> 00:09:39.949 align:start position:0% rounds and myth number five is that optimism's<00:09:38.000> badge<00:09:38.320> holders<00:09:39.079> are<00:09:39.320> super<00:09:39.680> good 00:09:39.949 --> 00:09:39.959 align:start position:0% optimism's badge holders are super good 00:09:39.959 --> 00:09:41.990 align:start position:0% optimism's badge holders are super good at<00:09:40.120> deciding<00:09:40.560> how<00:09:40.680> much<00:09:40.880> retr<00:09:41.200> funding<00:09:41.680> each 00:09:41.990 --> 00:09:42.000 align:start position:0% at deciding how much retr funding each 00:09:42.000 --> 00:09:44.870 align:start position:0% at deciding how much retr funding each project<00:09:43.000> deserves<00:09:44.000> the<00:09:44.120> reality<00:09:44.519> is<00:09:44.640> that<00:09:44.760> we 00:09:44.870 --> 00:09:44.880 align:start position:0% project deserves the reality is that we 00:09:44.880 --> 00:09:47.030 align:start position:0% project deserves the reality is that we are<00:09:45.000> just<00:09:45.160> humans<00:09:45.920> um<00:09:46.079> we<00:09:46.200> have<00:09:46.399> other<00:09:46.640> jobs<00:09:46.880> in 00:09:47.030 --> 00:09:47.040 align:start position:0% are just humans um we have other jobs in 00:09:47.040 --> 00:09:49.150 align:start position:0% are just humans um we have other jobs in many<00:09:47.320> cases<00:09:47.720> other<00:09:47.959> ecosystems<00:09:48.640> that<00:09:48.760> we<00:09:48.880> are 00:09:49.150 --> 00:09:49.160 align:start position:0% many cases other ecosystems that we are 00:09:49.160 --> 00:09:51.310 align:start position:0% many cases other ecosystems that we are that<00:09:49.240> we<00:09:49.320> are<00:09:49.440> working<00:09:49.720> on<00:09:50.399> and<00:09:50.480> so<00:09:50.600> it<00:09:50.720> is<00:09:50.880> very 00:09:51.310 --> 00:09:51.320 align:start position:0% that we are working on and so it is very 00:09:51.320 --> 00:09:53.150 align:start position:0% that we are working on and so it is very difficult<00:09:51.519> for<00:09:51.760> any<00:09:52.120> one<00:09:52.360> badge<00:09:52.680> holder<00:09:52.959> to 00:09:53.150 --> 00:09:53.160 align:start position:0% difficult for any one badge holder to 00:09:53.160 --> 00:09:55.990 align:start position:0% difficult for any one badge holder to have<00:09:53.920> a<00:09:54.240> a<00:09:54.399> God<00:09:54.680> view<00:09:54.959> of<00:09:55.120> all<00:09:55.200> of<00:09:55.320> the<00:09:55.519> projects 00:09:55.990 --> 00:09:56.000 align:start position:0% have a a God view of all of the projects 00:09:56.000 --> 00:09:58.389 align:start position:0% have a a God view of all of the projects and<00:09:56.120> what<00:09:56.240> they're<00:09:56.399> doing<00:09:57.000> and<00:09:57.120> to<00:09:57.240> be<00:09:57.399> able<00:09:57.640> to 00:09:58.389 --> 00:09:58.399 align:start position:0% and what they're doing and to be able to 00:09:58.399 --> 00:10:00.269 align:start position:0% and what they're doing and to be able to review<00:09:58.800> each<00:09:58.959> one<00:09:59.399> with<00:09:59.519> a<00:09:59.640> level<00:09:59.839> of<00:10:00.000> care 00:10:00.269 --> 00:10:00.279 align:start position:0% review each one with a level of care 00:10:00.279 --> 00:10:02.710 align:start position:0% review each one with a level of care that<00:10:00.440> that<00:10:00.640> project<00:10:01.079> most<00:10:01.320> likely<00:10:01.720> deserves 00:10:02.710 --> 00:10:02.720 align:start position:0% that that project most likely deserves 00:10:02.720 --> 00:10:06.710 align:start position:0% that that project most likely deserves um<00:10:03.399> so<00:10:03.959> I<00:10:04.079> think<00:10:04.320> that<00:10:04.800> a<00:10:04.959> lot<00:10:05.079> of<00:10:05.920> uh<00:10:06.120> improving 00:10:06.710 --> 00:10:06.720 align:start position:0% um so I think that a lot of uh improving 00:10:06.720 --> 00:10:07.870 align:start position:0% um so I think that a lot of uh improving retr<00:10:07.040> funding<00:10:07.279> is<00:10:07.399> going<00:10:07.480> to<00:10:07.560> be<00:10:07.680> about 00:10:07.870 --> 00:10:07.880 align:start position:0% retr funding is going to be about 00:10:07.880 --> 00:10:09.630 align:start position:0% retr funding is going to be about finding<00:10:08.160> the<00:10:08.279> right<00:10:08.480> balance<00:10:09.200> of<00:10:09.360> figuring 00:10:09.630 --> 00:10:09.640 align:start position:0% finding the right balance of figuring 00:10:09.640 --> 00:10:11.310 align:start position:0% finding the right balance of figuring out<00:10:09.800> what<00:10:09.920> humans<00:10:10.320> and<00:10:10.480> algorithms<00:10:11.000> are<00:10:11.160> good 00:10:11.310 --> 00:10:11.320 align:start position:0% out what humans and algorithms are good 00:10:11.320 --> 00:10:13.230 align:start position:0% out what humans and algorithms are good at<00:10:11.800> so<00:10:11.959> that<00:10:12.079> we<00:10:12.200> can<00:10:12.320> make<00:10:12.440> it<00:10:12.560> more<00:10:12.760> efficient 00:10:13.230 --> 00:10:13.240 align:start position:0% at so that we can make it more efficient 00:10:13.240 --> 00:10:14.870 align:start position:0% at so that we can make it more efficient but<00:10:13.360> at<00:10:13.480> the<00:10:13.560> same<00:10:13.800> time<00:10:14.320> ensure<00:10:14.600> that<00:10:14.720> we're 00:10:14.870 --> 00:10:14.880 align:start position:0% but at the same time ensure that we're 00:10:14.880 --> 00:10:16.790 align:start position:0% but at the same time ensure that we're learning<00:10:15.360> continuously<00:10:16.160> how<00:10:16.279> to<00:10:16.399> improve<00:10:16.680> the 00:10:16.790 --> 00:10:16.800 align:start position:0% learning continuously how to improve the 00:10:16.800 --> 00:10:18.509 align:start position:0% learning continuously how to improve the allocations<00:10:17.480> and<00:10:17.600> make<00:10:17.720> sure<00:10:17.880> we<00:10:18.040> get<00:10:18.200> closer 00:10:18.509 --> 00:10:18.519 align:start position:0% allocations and make sure we get closer 00:10:18.519 --> 00:10:21.030 align:start position:0% allocations and make sure we get closer to 00:10:21.030 --> 00:10:21.040 align:start position:0% to 00:10:21.040 --> 00:10:24.030 align:start position:0% to impact<00:10:22.040> so<00:10:22.240> far<00:10:22.399> so<00:10:22.640> good<00:10:23.600> now<00:10:23.720> we're<00:10:23.839> going<00:10:23.920> to 00:10:24.030 --> 00:10:24.040 align:start position:0% impact so far so good now we're going to 00:10:24.040 --> 00:10:26.190 align:start position:0% impact so far so good now we're going to get<00:10:24.200> into<00:10:24.640> the<00:10:24.800> so<00:10:25.040> what<00:10:25.480> has<00:10:25.640> this<00:10:25.839> program 00:10:26.190 --> 00:10:26.200 align:start position:0% get into the so what has this program 00:10:26.200 --> 00:10:28.069 align:start position:0% get into the so what has this program actually<00:10:26.440> delivered<00:10:27.000> on<00:10:27.200> these<00:10:27.399> promises<00:10:28.000> is 00:10:28.069 --> 00:10:28.079 align:start position:0% actually delivered on these promises is 00:10:28.079 --> 00:10:30.310 align:start position:0% actually delivered on these promises is it<00:10:28.279> effective<00:10:28.680> at<00:10:28.800> rewarding<00:10:29.120> imp<00:10:29.360> impact<00:10:30.200> um 00:10:30.310 --> 00:10:30.320 align:start position:0% it effective at rewarding imp impact um 00:10:30.320 --> 00:10:32.430 align:start position:0% it effective at rewarding imp impact um or<00:10:30.480> is<00:10:30.560> it<00:10:30.760> just<00:10:30.959> a<00:10:31.320> expensive<00:10:32.000> well-branded 00:10:32.430 --> 00:10:32.440 align:start position:0% or is it just a expensive well-branded 00:10:32.440 --> 00:10:34.470 align:start position:0% or is it just a expensive well-branded marketing 00:10:34.470 --> 00:10:34.480 align:start position:0% marketing 00:10:34.480 --> 00:10:37.269 align:start position:0% marketing campaign<00:10:35.480> uh<00:10:35.920> to<00:10:36.120> date<00:10:36.560> optimism<00:10:37.079> has 00:10:37.269 --> 00:10:37.279 align:start position:0% campaign uh to date optimism has 00:10:37.279 --> 00:10:39.629 align:start position:0% campaign uh to date optimism has supported<00:10:37.680> a<00:10:37.800> lot<00:10:37.920> of<00:10:38.160> projects<00:10:38.959> more<00:10:39.200> than 00:10:39.629 --> 00:10:39.639 align:start position:0% supported a lot of projects more than 00:10:39.639 --> 00:10:42.069 align:start position:0% supported a lot of projects more than 700<00:10:40.639> um<00:10:40.839> and<00:10:40.959> there<00:10:41.079> is<00:10:41.279> a<00:10:41.560> power<00:10:41.839> law 00:10:42.069 --> 00:10:42.079 align:start position:0% 700 um and there is a power law 00:10:42.079 --> 00:10:44.110 align:start position:0% 700 um and there is a power law distribution<00:10:42.760> in<00:10:42.920> terms<00:10:43.240> of<00:10:43.800> how<00:10:43.959> much 00:10:44.110 --> 00:10:44.120 align:start position:0% distribution in terms of how much 00:10:44.120 --> 00:10:45.949 align:start position:0% distribution in terms of how much funding<00:10:44.440> they<00:10:44.600> have<00:10:44.959> received<00:10:45.519> so<00:10:45.680> what<00:10:45.800> this 00:10:45.949 --> 00:10:45.959 align:start position:0% funding they have received so what this 00:10:45.959 --> 00:10:48.110 align:start position:0% funding they have received so what this graph<00:10:46.160> is<00:10:46.279> showing<00:10:46.600> on<00:10:46.760> the<00:10:46.880> xais<00:10:47.680> is<00:10:47.880> all<00:10:48.000> of 00:10:48.110 --> 00:10:48.120 align:start position:0% graph is showing on the xais is all of 00:10:48.120 --> 00:10:50.230 align:start position:0% graph is showing on the xais is all of the<00:10:48.320> projects<00:10:49.040> ranked<00:10:49.440> by<00:10:49.560> how<00:10:49.680> much<00:10:49.880> funding 00:10:50.230 --> 00:10:50.240 align:start position:0% the projects ranked by how much funding 00:10:50.240 --> 00:10:51.870 align:start position:0% the projects ranked by how much funding they<00:10:50.360> have<00:10:50.720> received<00:10:51.240> since<00:10:51.440> the<00:10:51.560> start<00:10:51.720> of 00:10:51.870 --> 00:10:51.880 align:start position:0% they have received since the start of 00:10:51.880 --> 00:10:54.430 align:start position:0% they have received since the start of retr<00:10:52.200> funding<00:10:53.079> and<00:10:53.279> you<00:10:53.399> can<00:10:53.519> see<00:10:53.720> that<00:10:53.920> a 00:10:54.430 --> 00:10:54.440 align:start position:0% retr funding and you can see that a 00:10:54.440 --> 00:10:55.670 align:start position:0% retr funding and you can see that a average<00:10:54.839> project<00:10:55.160> who's<00:10:55.320> been<00:10:55.440> in<00:10:55.519> the 00:10:55.670 --> 00:10:55.680 align:start position:0% average project who's been in the 00:10:55.680 --> 00:10:58.670 align:start position:0% average project who's been in the program<00:10:56.160> has<00:10:56.320> gotten<00:10:56.600> about<00:10:56.800> 40,000<00:10:57.399> op<00:10:58.279> a<00:10:58.480> top 00:10:58.670 --> 00:10:58.680 align:start position:0% program has gotten about 40,000 op a top 00:10:58.680 --> 00:10:59.750 align:start position:0% program has gotten about 40,000 op a top one 00:10:59.750 --> 00:10:59.760 align:start position:0% one 00:10:59.760 --> 00:11:01.710 align:start position:0% one 160<00:11:00.480> and<00:11:00.600> there's<00:11:00.760> a<00:11:00.880> few<00:11:01.079> that<00:11:01.160> have<00:11:01.480> received 00:11:01.710 --> 00:11:01.720 align:start position:0% 160 and there's a few that have received 00:11:01.720 --> 00:11:04.030 align:start position:0% 160 and there's a few that have received over<00:11:02.160> 500,000<00:11:03.160> at<00:11:03.279> the<00:11:03.399> time<00:11:03.639> probably<00:11:03.839> worth 00:11:04.030 --> 00:11:04.040 align:start position:0% over 500,000 at the time probably worth 00:11:04.040 --> 00:11:06.350 align:start position:0% over 500,000 at the time probably worth more<00:11:04.160> than<00:11:04.279> a<00:11:04.360> million<00:11:05.000> dollars<00:11:06.000> um<00:11:06.120> so<00:11:06.240> this 00:11:06.350 --> 00:11:06.360 align:start position:0% more than a million dollars um so this 00:11:06.360 --> 00:11:08.829 align:start position:0% more than a million dollars um so this has<00:11:06.519> been<00:11:06.680> the<00:11:06.800> distribution<00:11:07.560> so<00:11:07.800> far<00:11:08.440> it<00:11:08.560> is<00:11:08.680> a 00:11:08.829 --> 00:11:08.839 align:start position:0% has been the distribution so far it is a 00:11:08.839 --> 00:11:11.550 align:start position:0% has been the distribution so far it is a power<00:11:09.079> law<00:11:09.320> it's<00:11:09.519> not<00:11:09.800> a<00:11:10.000> kind<00:11:10.120> of<00:11:10.240> flat<00:11:10.519> even 00:11:11.550 --> 00:11:11.560 align:start position:0% power law it's not a kind of flat even 00:11:11.560 --> 00:11:13.430 align:start position:0% power law it's not a kind of flat even distribution<00:11:12.560> and<00:11:12.760> what<00:11:12.839> you<00:11:12.959> can<00:11:13.079> see<00:11:13.279> is 00:11:13.430 --> 00:11:13.440 align:start position:0% distribution and what you can see is 00:11:13.440 --> 00:11:15.269 align:start position:0% distribution and what you can see is that<00:11:13.639> the<00:11:13.800> projects<00:11:14.120> that<00:11:14.279> tend<00:11:14.440> to<00:11:14.600> receive 00:11:15.269 --> 00:11:15.279 align:start position:0% that the projects that tend to receive 00:11:15.279 --> 00:11:17.310 align:start position:0% that the projects that tend to receive more<00:11:15.519> funding<00:11:16.279> are<00:11:16.560> projects<00:11:16.880> that<00:11:17.000> many<00:11:17.160> of 00:11:17.310 --> 00:11:17.320 align:start position:0% more funding are projects that many of 00:11:17.320 --> 00:11:20.069 align:start position:0% more funding are projects that many of you<00:11:17.920> may<00:11:18.079> be<00:11:18.240> familiar<00:11:18.680> with<00:11:19.320> at<00:11:19.440> the<00:11:19.600> very<00:11:19.839> top 00:11:20.069 --> 00:11:20.079 align:start position:0% you may be familiar with at the very top 00:11:20.079 --> 00:11:22.310 align:start position:0% you may be familiar with at the very top you<00:11:20.279> have<00:11:20.560> protocol<00:11:21.040> Guild<00:11:21.720> you<00:11:21.880> also<00:11:22.160> have 00:11:22.310 --> 00:11:22.320 align:start position:0% you have protocol Guild you also have 00:11:22.320 --> 00:11:24.230 align:start position:0% you have protocol Guild you also have teams<00:11:22.639> that<00:11:22.760> have<00:11:22.959> focused<00:11:23.399> on<00:11:23.600> developing 00:11:24.230 --> 00:11:24.240 align:start position:0% teams that have focused on developing 00:11:24.240 --> 00:11:26.430 align:start position:0% teams that have focused on developing specifically<00:11:24.639> for<00:11:24.839> optimism<00:11:25.839> um<00:11:26.040> like<00:11:26.200> test 00:11:26.430 --> 00:11:26.440 align:start position:0% specifically for optimism um like test 00:11:26.440 --> 00:11:28.670 align:start position:0% specifically for optimism um like test and<00:11:26.680> prod<00:11:27.399> you<00:11:27.560> have<00:11:27.760> core<00:11:28.000> Primitives<00:11:28.480> on<00:11:28.600> the 00:11:28.670 --> 00:11:28.680 align:start position:0% and prod you have core Primitives on the 00:11:28.680 --> 00:11:31.470 align:start position:0% and prod you have core Primitives on the super<00:11:28.959> chain<00:11:29.519> like<00:11:29.839> um<00:11:30.000> account<00:11:30.279> abstraction 00:11:31.470 --> 00:11:31.480 align:start position:0% super chain like um account abstraction 00:11:31.480 --> 00:11:35.030 align:start position:0% super chain like um account abstraction 437<00:11:32.480> um<00:11:33.079> e<00:11:34.040> you<00:11:34.200> also<00:11:34.440> have<00:11:34.560> some<00:11:34.639> of<00:11:34.760> the<00:11:34.839> major 00:11:35.030 --> 00:11:35.040 align:start position:0% 437 um e you also have some of the major 00:11:35.040 --> 00:11:38.710 align:start position:0% 437 um e you also have some of the major defi<00:11:35.440> protocols<00:11:35.959> like<00:11:36.160> vome<00:11:37.160> um<00:11:37.760> and<00:11:38.360> social 00:11:38.710 --> 00:11:38.720 align:start position:0% defi protocols like vome um and social 00:11:38.720 --> 00:11:41.710 align:start position:0% defi protocols like vome um and social apps<00:11:39.040> like<00:11:39.160> Zora<00:11:40.040> you<00:11:40.200> also<00:11:40.600> have<00:11:41.240> developer 00:11:41.710 --> 00:11:41.720 align:start position:0% apps like Zora you also have developer 00:11:41.720 --> 00:11:44.190 align:start position:0% apps like Zora you also have developer libraries<00:11:42.480> like<00:11:42.639> ethers<00:11:43.079> and<00:11:43.279> weim<00:11:43.720> and<00:11:43.880> open 00:11:44.190 --> 00:11:44.200 align:start position:0% libraries like ethers and weim and open 00:11:44.200 --> 00:11:45.710 align:start position:0% libraries like ethers and weim and open Zeppelin<00:11:44.600> contracts<00:11:45.120> that<00:11:45.320> historically 00:11:45.710 --> 00:11:45.720 align:start position:0% Zeppelin contracts that historically 00:11:45.720 --> 00:11:48.150 align:start position:0% Zeppelin contracts that historically have<00:11:45.839> not<00:11:46.120> received<00:11:46.279> any<00:11:46.440> funding<00:11:47.399> um<00:11:47.600> or<00:11:48.040> of 00:11:48.150 --> 00:11:48.160 align:start position:0% have not received any funding um or of 00:11:48.160 --> 00:11:50.389 align:start position:0% have not received any funding um or of this<00:11:48.360> scale<00:11:49.040> and<00:11:49.160> so<00:11:49.320> this<00:11:49.399> is<00:11:49.600> also<00:11:49.839> creating 00:11:50.389 --> 00:11:50.399 align:start position:0% this scale and so this is also creating 00:11:50.399 --> 00:11:52.110 align:start position:0% this scale and so this is also creating a<00:11:50.600> recurring<00:11:51.040> Revenue<00:11:51.399> model<00:11:51.760> for<00:11:51.959> those 00:11:52.110 --> 00:11:52.120 align:start position:0% a recurring Revenue model for those 00:11:52.120 --> 00:11:54.230 align:start position:0% a recurring Revenue model for those types<00:11:52.320> of<00:11:52.519> projects<00:11:53.360> in<00:11:53.480> any<00:11:53.680> case<00:11:53.920> it<00:11:54.000> isn't 00:11:54.230 --> 00:11:54.240 align:start position:0% types of projects in any case it isn't 00:11:54.240 --> 00:11:56.269 align:start position:0% types of projects in any case it isn't just<00:11:54.399> funding<00:11:54.720> a<00:11:54.880> narrow<00:11:55.240> set<00:11:55.680> of<00:11:55.880> defi 00:11:56.269 --> 00:11:56.279 align:start position:0% just funding a narrow set of defi 00:11:56.279 --> 00:11:58.470 align:start position:0% just funding a narrow set of defi protocols<00:11:56.760> this<00:11:56.880> is<00:11:57.000> a<00:11:57.160> pretty<00:11:57.440> expansive<00:11:58.320> and 00:11:58.470 --> 00:11:58.480 align:start position:0% protocols this is a pretty expansive and 00:11:58.480 --> 00:11:59.910 align:start position:0% protocols this is a pretty expansive and diverse<00:11:58.760> set<00:11:58.880> of<00:11:58.959> projects<00:11:59.440> that<00:11:59.519> have<00:11:59.639> been 00:11:59.910 --> 00:11:59.920 align:start position:0% diverse set of projects that have been 00:11:59.920 --> 00:12:01.870 align:start position:0% diverse set of projects that have been receiving<00:12:00.279> retr 00:12:01.870 --> 00:12:01.880 align:start position:0% receiving retr 00:12:01.880 --> 00:12:04.910 align:start position:0% receiving retr funding<00:12:02.880> and<00:12:03.200> anecdotally<00:12:04.200> um<00:12:04.320> retr<00:12:04.600> funding 00:12:04.910 --> 00:12:04.920 align:start position:0% funding and anecdotally um retr funding 00:12:04.920 --> 00:12:07.310 align:start position:0% funding and anecdotally um retr funding has<00:12:05.160> had<00:12:05.440> a<00:12:05.560> fair<00:12:05.720> amount<00:12:05.959> of<00:12:06.120> impact<00:12:06.760> um<00:12:06.959> one 00:12:07.310 --> 00:12:07.320 align:start position:0% has had a fair amount of impact um one 00:12:07.320 --> 00:12:09.389 align:start position:0% has had a fair amount of impact um one project<00:12:07.600> L2<00:12:07.959> be<00:12:08.480> they<00:12:08.639> wrote<00:12:08.920> this<00:12:09.240> um 00:12:09.389 --> 00:12:09.399 align:start position:0% project L2 be they wrote this um 00:12:09.399 --> 00:12:10.710 align:start position:0% project L2 be they wrote this um beautiful<00:12:09.760> letter<00:12:10.120> at<00:12:10.200> the<00:12:10.320> end<00:12:10.440> of<00:12:10.519> one<00:12:10.639> of 00:12:10.710 --> 00:12:10.720 align:start position:0% beautiful letter at the end of one of 00:12:10.720 --> 00:12:13.150 align:start position:0% beautiful letter at the end of one of the<00:12:10.839> rounds<00:12:11.639> thanking<00:12:12.200> retr<00:12:12.560> funding<00:12:12.920> in<00:12:13.040> the 00:12:13.150 --> 00:12:13.160 align:start position:0% the rounds thanking retr funding in the 00:12:13.160 --> 00:12:15.470 align:start position:0% the rounds thanking retr funding in the badge<00:12:13.440> holders<00:12:13.800> but<00:12:14.000> also<00:12:14.639> explaining<00:12:15.120> how<00:12:15.320> it 00:12:15.470 --> 00:12:15.480 align:start position:0% badge holders but also explaining how it 00:12:15.480 --> 00:12:17.430 align:start position:0% badge holders but also explaining how it actually<00:12:15.760> changed<00:12:16.680> how<00:12:16.839> they<00:12:16.959> thought<00:12:17.199> about 00:12:17.430 --> 00:12:17.440 align:start position:0% actually changed how they thought about 00:12:17.440 --> 00:12:18.949 align:start position:0% actually changed how they thought about their<00:12:17.639> purpose<00:12:18.120> in<00:12:18.279> the 00:12:18.949 --> 00:12:18.959 align:start position:0% their purpose in the 00:12:18.959 --> 00:12:21.790 align:start position:0% their purpose in the ecosystem<00:12:19.959> um<00:12:20.120> ween<00:12:20.399> ethereum<00:12:20.800> news<00:12:21.600> uh<00:12:21.720> this 00:12:21.790 --> 00:12:21.800 align:start position:0% ecosystem um ween ethereum news uh this 00:12:21.800 --> 00:12:23.230 align:start position:0% ecosystem um ween ethereum news uh this is<00:12:21.959> also<00:12:22.279> one<00:12:22.399> that<00:12:22.519> I<00:12:22.600> can<00:12:22.720> really<00:12:22.880> relate 00:12:23.230 --> 00:12:23.240 align:start position:0% is also one that I can really relate 00:12:23.240 --> 00:12:24.550 align:start position:0% is also one that I can really relate with<00:12:23.880> um<00:12:24.000> that<00:12:24.079> it<00:12:24.160> was<00:12:24.279> kind<00:12:24.360> of<00:12:24.440> a 00:12:24.550 --> 00:12:24.560 align:start position:0% with um that it was kind of a 00:12:24.560 --> 00:12:26.110 align:start position:0% with um that it was kind of a GameChanger<00:12:25.079> for<00:12:25.240> them<00:12:25.639> receiving<00:12:25.800> retr 00:12:26.110 --> 00:12:26.120 align:start position:0% GameChanger for them receiving retr 00:12:26.120 --> 00:12:27.870 align:start position:0% GameChanger for them receiving retr funding<00:12:26.519> it<00:12:26.639> allowed<00:12:26.959> them<00:12:27.079> to<00:12:27.199> work<00:12:27.399> on<00:12:27.600> this 00:12:27.870 --> 00:12:27.880 align:start position:0% funding it allowed them to work on this 00:12:27.880 --> 00:12:29.670 align:start position:0% funding it allowed them to work on this and<00:12:28.000> not<00:12:28.160> pursue<00:12:28.519> other<00:12:28.720> things 00:12:29.670 --> 00:12:29.680 align:start position:0% and not pursue other things 00:12:29.680 --> 00:12:31.670 align:start position:0% and not pursue other things at<00:12:29.839> open<00:12:30.040> source<00:12:30.279> Observer<00:12:31.199> um<00:12:31.399> this<00:12:31.519> was 00:12:31.670 --> 00:12:31.680 align:start position:0% at open source Observer um this was 00:12:31.680 --> 00:12:33.829 align:start position:0% at open source Observer um this was definitely<00:12:32.320> a<00:12:32.480> GameChanger<00:12:33.000> for<00:12:33.199> us<00:12:33.560> and<00:12:33.680> gave 00:12:33.829 --> 00:12:33.839 align:start position:0% definitely a GameChanger for us and gave 00:12:33.839 --> 00:12:36.069 align:start position:0% definitely a GameChanger for us and gave us<00:12:34.000> the<00:12:34.160> confidence<00:12:34.760> to<00:12:35.279> leave<00:12:35.600> start<00:12:35.839> a<00:12:35.920> new 00:12:36.069 --> 00:12:36.079 align:start position:0% us the confidence to leave start a new 00:12:36.079 --> 00:12:38.790 align:start position:0% us the confidence to leave start a new organization<00:12:36.720> and<00:12:36.880> focus<00:12:37.320> on<00:12:37.839> building<00:12:38.199> for 00:12:38.790 --> 00:12:38.800 align:start position:0% organization and focus on building for 00:12:38.800 --> 00:12:41.590 align:start position:0% organization and focus on building for optimism<00:12:39.800> um<00:12:40.040> so<00:12:40.519> are<00:12:40.680> we<00:12:40.800> a<00:12:40.880> few<00:12:41.040> outliers<00:12:41.480> or 00:12:41.590 --> 00:12:41.600 align:start position:0% optimism um so are we a few outliers or 00:12:41.600 --> 00:12:43.750 align:start position:0% optimism um so are we a few outliers or is<00:12:41.720> there<00:12:41.839> some<00:12:42.000> meaningful<00:12:42.360> signal 00:12:43.750 --> 00:12:43.760 align:start position:0% is there some meaningful signal 00:12:43.760 --> 00:12:47.069 align:start position:0% is there some meaningful signal here<00:12:44.760> at<00:12:44.880> opensource<00:12:45.360> Observer<00:12:46.160> um<00:12:46.800> the<00:12:46.959> the 00:12:47.069 --> 00:12:47.079 align:start position:0% here at opensource Observer um the the 00:12:47.079 --> 00:12:49.269 align:start position:0% here at opensource Observer um the the project<00:12:47.320> that<00:12:47.440> I'm<00:12:47.560> working<00:12:47.839> on<00:12:48.240> WE<00:12:48.480> track 00:12:49.269 --> 00:12:49.279 align:start position:0% project that I'm working on WE track 00:12:49.279 --> 00:12:51.110 align:start position:0% project that I'm working on WE track cohorts<00:12:49.880> of<00:12:50.079> other<00:12:50.399> projects<00:12:50.959> and 00:12:51.110 --> 00:12:51.120 align:start position:0% cohorts of other projects and 00:12:51.120 --> 00:12:53.150 align:start position:0% cohorts of other projects and collections<00:12:51.680> to<00:12:51.839> see<00:12:52.000> how<00:12:52.160> they<00:12:52.320> perform<00:12:52.839> over 00:12:53.150 --> 00:12:53.160 align:start position:0% collections to see how they perform over 00:12:53.160 --> 00:12:54.910 align:start position:0% collections to see how they perform over time<00:12:54.000> and<00:12:54.120> one<00:12:54.240> of<00:12:54.320> the<00:12:54.399> things<00:12:54.600> that<00:12:54.680> we<00:12:54.800> can 00:12:54.910 --> 00:12:54.920 align:start position:0% time and one of the things that we can 00:12:54.920 --> 00:12:56.750 align:start position:0% time and one of the things that we can clearly<00:12:55.199> see<00:12:55.399> in<00:12:55.519> the<00:12:55.639> data<00:12:56.279> if<00:12:56.360> you<00:12:56.519> remember 00:12:56.750 --> 00:12:56.760 align:start position:0% clearly see in the data if you remember 00:12:56.760 --> 00:12:58.069 align:start position:0% clearly see in the data if you remember that<00:12:56.880> developer<00:12:57.279> Capital<00:12:57.560> report<00:12:57.800> I<00:12:57.880> showed 00:12:58.069 --> 00:12:58.079 align:start position:0% that developer Capital report I showed 00:12:58.079 --> 00:12:59.750 align:start position:0% that developer Capital report I showed at<00:12:58.160> the<00:12:58.279> beginning<00:12:59.199> the<00:12:59.279> trend<00:12:59.480> line<00:12:59.639> for 00:12:59.750 --> 00:12:59.760 align:start position:0% at the beginning the trend line for 00:12:59.760 --> 00:13:01.670 align:start position:0% at the beginning the trend line for optimism<00:13:00.320> projects<00:13:00.880> especially<00:13:01.320> ones<00:13:01.560> that 00:13:01.670 --> 00:13:01.680 align:start position:0% optimism projects especially ones that 00:13:01.680 --> 00:13:04.629 align:start position:0% optimism projects especially ones that have<00:13:01.959> received<00:13:02.120> retr<00:13:02.440> funding<00:13:03.240> is<00:13:03.639> different 00:13:04.629 --> 00:13:04.639 align:start position:0% have received retr funding is different 00:13:04.639 --> 00:13:06.710 align:start position:0% have received retr funding is different on<00:13:04.760> the<00:13:04.920> x-axis<00:13:05.440> here<00:13:05.560> you<00:13:05.720> have<00:13:05.920> time<00:13:06.560> we<00:13:06.639> have 00:13:06.710 --> 00:13:06.720 align:start position:0% on the x-axis here you have time we have 00:13:06.720 --> 00:13:09.069 align:start position:0% on the x-axis here you have time we have a<00:13:06.800> few<00:13:07.160> Milestones<00:13:08.160> um<00:13:08.360> related<00:13:08.639> to<00:13:08.760> retr 00:13:09.069 --> 00:13:09.079 align:start position:0% a few Milestones um related to retr 00:13:09.079 --> 00:13:11.509 align:start position:0% a few Milestones um related to retr funding<00:13:09.360> three<00:13:09.839> the<00:13:09.959> biggest<00:13:10.320> round<00:13:11.240> and<00:13:11.440> you 00:13:11.509 --> 00:13:11.519 align:start position:0% funding three the biggest round and you 00:13:11.519 --> 00:13:13.189 align:start position:0% funding three the biggest round and you can<00:13:11.680> see<00:13:12.000> on<00:13:12.120> the<00:13:12.240> y<00:13:12.440> axis<00:13:12.760> the<00:13:12.880> number<00:13:13.079> of 00:13:13.189 --> 00:13:13.199 align:start position:0% can see on the y axis the number of 00:13:13.199 --> 00:13:14.990 align:start position:0% can see on the y axis the number of monthly<00:13:13.519> active<00:13:13.800> developers<00:13:14.600> that<00:13:14.720> have<00:13:14.839> been 00:13:14.990 --> 00:13:15.000 align:start position:0% monthly active developers that have been 00:13:15.000 --> 00:13:17.110 align:start position:0% monthly active developers that have been participating<00:13:15.560> in<00:13:15.720> those<00:13:15.959> in<00:13:16.120> in<00:13:16.240> the<00:13:16.399> program 00:13:17.110 --> 00:13:17.120 align:start position:0% participating in those in in the program 00:13:17.120 --> 00:13:18.829 align:start position:0% participating in those in in the program both<00:13:17.399> before<00:13:18.040> and<00:13:18.160> then<00:13:18.320> coming<00:13:18.519> out<00:13:18.720> the 00:13:18.829 --> 00:13:18.839 align:start position:0% both before and then coming out the 00:13:18.839 --> 00:13:21.150 align:start position:0% both before and then coming out the other<00:13:19.079> side<00:13:19.839> and<00:13:20.240> you<00:13:20.360> know<00:13:20.519> the<00:13:20.639> line<00:13:20.839> is<00:13:21.000> up 00:13:21.150 --> 00:13:21.160 align:start position:0% other side and you know the line is up 00:13:21.160 --> 00:13:23.230 align:start position:0% other side and you know the line is up and<00:13:21.279> to<00:13:21.399> the<00:13:21.600> right<00:13:22.600> but<00:13:22.760> there<00:13:22.880> could<00:13:23.000> be<00:13:23.079> a 00:13:23.230 --> 00:13:23.240 align:start position:0% and to the right but there could be a 00:13:23.240 --> 00:13:25.189 align:start position:0% and to the right but there could be a lot<00:13:23.360> of<00:13:23.480> things<00:13:23.680> that<00:13:23.760> are<00:13:23.920> explaining<00:13:24.440> this 00:13:25.189 --> 00:13:25.199 align:start position:0% lot of things that are explaining this 00:13:25.199 --> 00:13:27.629 align:start position:0% lot of things that are explaining this so<00:13:25.440> the<00:13:25.560> next<00:13:25.720> thing<00:13:25.839> we<00:13:25.959> want<00:13:26.079> to<00:13:26.240> look<00:13:26.440> at<00:13:27.120> is 00:13:27.629 --> 00:13:27.639 align:start position:0% so the next thing we want to look at is 00:13:27.639 --> 00:13:29.790 align:start position:0% so the next thing we want to look at is how<00:13:27.880> would<00:13:28.079> they<00:13:28.360> have<00:13:28.560> compared<00:13:29.279> relative<00:13:29.639> to 00:13:29.790 --> 00:13:29.800 align:start position:0% how would they have compared relative to 00:13:29.800 --> 00:13:32.069 align:start position:0% how would they have compared relative to some<00:13:30.000> kind<00:13:30.120> of<00:13:30.199> a<00:13:30.440> counterfactual<00:13:31.440> or<00:13:31.639> control 00:13:32.069 --> 00:13:32.079 align:start position:0% some kind of a counterfactual or control 00:13:32.079 --> 00:13:34.230 align:start position:0% some kind of a counterfactual or control group<00:13:32.880> we're<00:13:33.079> not<00:13:33.199> in<00:13:33.279> a<00:13:33.440> position<00:13:33.760> to 00:13:34.230 --> 00:13:34.240 align:start position:0% group we're not in a position to 00:13:34.240 --> 00:13:36.790 align:start position:0% group we're not in a position to basically<00:13:35.240> separate<00:13:35.639> out<00:13:35.880> the<00:13:36.000> groups<00:13:36.399> and<00:13:36.560> do 00:13:36.790 --> 00:13:36.800 align:start position:0% basically separate out the groups and do 00:13:36.800 --> 00:13:39.430 align:start position:0% basically separate out the groups and do a<00:13:37.079> pure<00:13:37.600> experimental<00:13:38.199> test<00:13:38.800> but<00:13:38.920> what<00:13:39.040> we<00:13:39.199> can 00:13:39.430 --> 00:13:39.440 align:start position:0% a pure experimental test but what we can 00:13:39.440 --> 00:13:42.310 align:start position:0% a pure experimental test but what we can do<00:13:39.680> is<00:13:39.800> create<00:13:40.040> a<00:13:40.199> synthetic<00:13:40.959> control<00:13:41.959> using 00:13:42.310 --> 00:13:42.320 align:start position:0% do is create a synthetic control using 00:13:42.320 --> 00:13:44.629 align:start position:0% do is create a synthetic control using data<00:13:42.600> about<00:13:42.800> other<00:13:43.320> ecosystems<00:13:44.320> at<00:13:44.440> open 00:13:44.629 --> 00:13:44.639 align:start position:0% data about other ecosystems at open 00:13:44.639 --> 00:13:46.509 align:start position:0% data about other ecosystems at open source<00:13:44.880> Observer<00:13:45.320> we<00:13:45.480> look<00:13:45.680> at<00:13:46.120> not<00:13:46.320> just 00:13:46.509 --> 00:13:46.519 align:start position:0% source Observer we look at not just 00:13:46.519 --> 00:13:48.350 align:start position:0% source Observer we look at not just optimism<00:13:47.199> but<00:13:47.279> a<00:13:47.440> range<00:13:47.680> of<00:13:47.800> other<00:13:48.000> crypto 00:13:48.350 --> 00:13:48.360 align:start position:0% optimism but a range of other crypto 00:13:48.360 --> 00:13:50.470 align:start position:0% optimism but a range of other crypto ecosystems<00:13:49.320> so<00:13:49.480> we<00:13:49.600> can<00:13:49.720> create<00:13:50.000> comparable 00:13:50.470 --> 00:13:50.480 align:start position:0% ecosystems so we can create comparable 00:13:50.480 --> 00:13:52.030 align:start position:0% ecosystems so we can create comparable metrics<00:13:50.959> for<00:13:51.160> how<00:13:51.360> projects<00:13:51.680> in<00:13:51.880> those 00:13:52.030 --> 00:13:52.040 align:start position:0% metrics for how projects in those 00:13:52.040 --> 00:13:54.430 align:start position:0% metrics for how projects in those ecosystems<00:13:52.759> have<00:13:53.000> have<00:13:53.279> performed<00:13:54.160> in<00:13:54.279> the 00:13:54.430 --> 00:13:54.440 align:start position:0% ecosystems have have performed in the 00:13:54.440 --> 00:13:57.069 align:start position:0% ecosystems have have performed in the absence<00:13:54.759> of<00:13:55.040> receiving<00:13:55.240> retr<00:13:55.800> funding<00:13:56.800> and<00:13:56.920> so 00:13:57.069 --> 00:13:57.079 align:start position:0% absence of receiving retr funding and so 00:13:57.079 --> 00:13:58.790 align:start position:0% absence of receiving retr funding and so through<00:13:57.320> this<00:13:57.480> we<00:13:57.600> can<00:13:57.759> see<00:13:58.399> that<00:13:58.560> there's 00:13:58.790 --> 00:13:58.800 align:start position:0% through this we can see that there's 00:13:58.800 --> 00:13:59.629 align:start position:0% through this we can see that there's actually 00:13:59.629 --> 00:13:59.639 align:start position:0% actually 00:13:59.639 --> 00:14:01.790 align:start position:0% actually a<00:13:59.800> significant<00:14:00.440> increase<00:14:01.199> relative<00:14:01.560> to 00:14:01.790 --> 00:14:01.800 align:start position:0% a significant increase relative to 00:14:01.800 --> 00:14:03.870 align:start position:0% a significant increase relative to synthetic<00:14:02.240> control<00:14:02.920> for<00:14:03.199> projects<00:14:03.560> that 00:14:03.870 --> 00:14:03.880 align:start position:0% synthetic control for projects that 00:14:03.880 --> 00:14:09.870 align:start position:0% synthetic control for projects that received<00:14:04.360> retr<00:14:04.680> funding<00:14:05.079> from<00:14:05.279> round 00:14:09.870 --> 00:14:09.880 align:start position:0% 00:14:09.880 --> 00:14:12.269 align:start position:0% three<00:14:10.880> excuse 00:14:12.269 --> 00:14:12.279 align:start position:0% three excuse 00:14:12.279 --> 00:14:14.470 align:start position:0% three excuse me<00:14:13.279> we<00:14:13.399> can<00:14:13.519> do<00:14:13.680> this<00:14:13.800> for<00:14:14.000> any<00:14:14.160> number<00:14:14.360> of 00:14:14.470 --> 00:14:14.480 align:start position:0% me we can do this for any number of 00:14:14.480 --> 00:14:16.629 align:start position:0% me we can do this for any number of metrics<00:14:15.079> and<00:14:15.160> I've<00:14:15.320> only<00:14:15.440> shown<00:14:15.639> a<00:14:15.759> few<00:14:16.040> here 00:14:16.629 --> 00:14:16.639 align:start position:0% metrics and I've only shown a few here 00:14:16.639 --> 00:14:19.749 align:start position:0% metrics and I've only shown a few here but<00:14:16.800> this<00:14:16.959> is<00:14:17.399> a<00:14:17.800> a<00:14:17.959> comparison<00:14:18.680> of<00:14:18.920> onchain 00:14:19.749 --> 00:14:19.759 align:start position:0% but this is a a comparison of onchain 00:14:19.759 --> 00:14:21.350 align:start position:0% but this is a a comparison of onchain activity<00:14:20.199> for<00:14:20.440> projects<00:14:20.800> that<00:14:20.959> receive 00:14:21.350 --> 00:14:21.360 align:start position:0% activity for projects that receive 00:14:21.360 --> 00:14:23.749 align:start position:0% activity for projects that receive funding<00:14:21.680> from<00:14:21.880> retr<00:14:22.199> funding<00:14:22.440> 4<00:14:23.279> around<00:14:23.600> that 00:14:23.749 --> 00:14:23.759 align:start position:0% funding from retr funding 4 around that 00:14:23.759 --> 00:14:26.910 align:start position:0% funding from retr funding 4 around that Focus<00:14:24.199> specifically<00:14:24.880> on<00:14:25.040> onchain<00:14:25.920> Builders 00:14:26.910 --> 00:14:26.920 align:start position:0% Focus specifically on onchain Builders 00:14:26.920 --> 00:14:29.670 align:start position:0% Focus specifically on onchain Builders and<00:14:27.079> here<00:14:27.240> you<00:14:27.360> can<00:14:27.519> see<00:14:27.839> that<00:14:28.560> um<00:14:29.199> is<00:14:29.320> a<00:14:29.480> pretty 00:14:29.670 --> 00:14:29.680 align:start position:0% and here you can see that um is a pretty 00:14:29.680 --> 00:14:31.590 align:start position:0% and here you can see that um is a pretty significant<00:14:30.240> difference<00:14:31.160> uh<00:14:31.279> that<00:14:31.399> has 00:14:31.590 --> 00:14:31.600 align:start position:0% significant difference uh that has 00:14:31.600 --> 00:14:34.829 align:start position:0% significant difference uh that has happened<00:14:32.360> both<00:14:33.000> um<00:14:33.959> around<00:14:34.240> the<00:14:34.360> time<00:14:34.480> of<00:14:34.639> sign 00:14:34.829 --> 00:14:34.839 align:start position:0% happened both um around the time of sign 00:14:34.839 --> 00:14:37.150 align:start position:0% happened both um around the time of sign up<00:14:35.279> but<00:14:35.440> then<00:14:35.639> after<00:14:35.959> the<00:14:36.440> results<00:14:36.759> for<00:14:36.880> retof 00:14:37.150 --> 00:14:37.160 align:start position:0% up but then after the results for retof 00:14:37.160 --> 00:14:39.829 align:start position:0% up but then after the results for retof funding<00:14:37.440> for<00:14:38.079> were<00:14:38.360> were<00:14:38.720> announced<00:14:39.720> the 00:14:39.829 --> 00:14:39.839 align:start position:0% funding for were were announced the 00:14:39.839 --> 00:14:41.269 align:start position:0% funding for were were announced the challenge<00:14:40.240> here<00:14:40.480> is<00:14:40.600> that<00:14:40.759> there<00:14:40.839> are<00:14:41.079> other 00:14:41.269 --> 00:14:41.279 align:start position:0% challenge here is that there are other 00:14:41.279 --> 00:14:44.550 align:start position:0% challenge here is that there are other confounding<00:14:42.120> factors<00:14:43.120> we<00:14:43.279> had<00:14:43.399> the<00:14:43.560> blobs 00:14:44.550 --> 00:14:44.560 align:start position:0% confounding factors we had the blobs 00:14:44.560 --> 00:14:46.350 align:start position:0% confounding factors we had the blobs excuse<00:14:44.839> me<00:14:45.320> um<00:14:45.399> we<00:14:45.519> had<00:14:45.680> the<00:14:45.800> the<00:14:45.880> den<00:14:46.079> couldn't 00:14:46.350 --> 00:14:46.360 align:start position:0% excuse me um we had the the den couldn't 00:14:46.360 --> 00:14:47.990 align:start position:0% excuse me um we had the the den couldn't upgrade<00:14:47.199> and<00:14:47.360> as<00:14:47.440> a<00:14:47.560> result<00:14:47.759> of<00:14:47.880> that 00:14:47.990 --> 00:14:48.000 align:start position:0% upgrade and as a result of that 00:14:48.000 --> 00:14:50.110 align:start position:0% upgrade and as a result of that transaction<00:14:48.519> activity<00:14:49.040> spiked<00:14:49.560> across<00:14:49.839> the 00:14:50.110 --> 00:14:50.120 align:start position:0% transaction activity spiked across the 00:14:50.120 --> 00:14:53.269 align:start position:0% transaction activity spiked across the board<00:14:51.120> so<00:14:51.240> we<00:14:51.360> can<00:14:51.480> strip<00:14:51.800> that<00:14:51.959> out<00:14:52.959> and<00:14:53.120> in 00:14:53.269 --> 00:14:53.279 align:start position:0% board so we can strip that out and in 00:14:53.279 --> 00:14:56.269 align:start position:0% board so we can strip that out and in this<00:14:53.440> case<00:14:54.240> um<00:14:54.440> we<00:14:54.560> don't<00:14:54.800> see<00:14:55.759> as<00:14:55.920> clear<00:14:56.160> a 00:14:56.269 --> 00:14:56.279 align:start position:0% this case um we don't see as clear a 00:14:56.279 --> 00:14:57.990 align:start position:0% this case um we don't see as clear a signal<00:14:56.759> as<00:14:56.880> we<00:14:57.000> saw<00:14:57.240> previously<00:14:57.759> with<00:14:57.880> the 00:14:57.990 --> 00:14:58.000 align:start position:0% signal as we saw previously with the 00:14:58.000 --> 00:14:59.710 align:start position:0% signal as we saw previously with the developer<00:14:58.480> activity 00:14:59.710 --> 00:14:59.720 align:start position:0% developer activity 00:14:59.720 --> 00:15:01.069 align:start position:0% developer activity so<00:14:59.880> this<00:15:00.000> is<00:15:00.079> a<00:15:00.160> whole<00:15:00.320> line<00:15:00.480> of<00:15:00.600> research<00:15:01.000> that 00:15:01.069 --> 00:15:01.079 align:start position:0% so this is a whole line of research that 00:15:01.079 --> 00:15:02.670 align:start position:0% so this is a whole line of research that we<00:15:01.199> need<00:15:01.320> to<00:15:01.480> do<00:15:01.880> that<00:15:01.959> we<00:15:02.079> need<00:15:02.199> to<00:15:02.320> get<00:15:02.440> better 00:15:02.670 --> 00:15:02.680 align:start position:0% we need to do that we need to get better 00:15:02.680 --> 00:15:04.509 align:start position:0% we need to do that we need to get better at<00:15:03.120> to<00:15:03.279> isolate<00:15:03.680> the<00:15:03.800> impact<00:15:04.120> that<00:15:04.240> retr 00:15:04.509 --> 00:15:04.519 align:start position:0% at to isolate the impact that retr 00:15:04.519 --> 00:15:07.670 align:start position:0% at to isolate the impact that retr funding<00:15:04.800> has<00:15:05.040> had<00:15:05.440> on<00:15:06.079> different<00:15:07.079> excuse<00:15:07.320> me 00:15:07.670 --> 00:15:07.680 align:start position:0% funding has had on different excuse me 00:15:07.680 --> 00:15:11.949 align:start position:0% funding has had on different excuse me on<00:15:07.839> different<00:15:08.079> cohorts<00:15:08.440> of 00:15:11.949 --> 00:15:11.959 align:start position:0% 00:15:11.959 --> 00:15:14.509 align:start position:0% projects<00:15:12.959> now<00:15:13.279> if<00:15:13.360> we<00:15:13.519> step<00:15:13.839> back<00:15:14.120> and<00:15:14.279> look<00:15:14.399> at 00:15:14.509 --> 00:15:14.519 align:start position:0% projects now if we step back and look at 00:15:14.519 --> 00:15:16.629 align:start position:0% projects now if we step back and look at the<00:15:14.639> overall<00:15:15.079> allocation<00:15:15.800> that<00:15:15.959> optimism<00:15:16.440> has 00:15:16.629 --> 00:15:16.639 align:start position:0% the overall allocation that optimism has 00:15:16.639 --> 00:15:18.629 align:start position:0% the overall allocation that optimism has had<00:15:16.880> so<00:15:17.079> far<00:15:17.560> we<00:15:17.680> can<00:15:17.839> see<00:15:18.040> that<00:15:18.240> most<00:15:18.399> of<00:15:18.519> the 00:15:18.629 --> 00:15:18.639 align:start position:0% had so far we can see that most of the 00:15:18.639 --> 00:15:21.350 align:start position:0% had so far we can see that most of the funding<00:15:19.120> has<00:15:19.360> actually<00:15:19.639> gone<00:15:20.160> towards<00:15:21.160> these 00:15:21.350 --> 00:15:21.360 align:start position:0% funding has actually gone towards these 00:15:21.360 --> 00:15:23.710 align:start position:0% funding has actually gone towards these two<00:15:21.519> big<00:15:21.720> boxes<00:15:22.079> over<00:15:22.240> here<00:15:22.440> so<00:15:22.600> that<00:15:22.720> includes 00:15:23.710 --> 00:15:23.720 align:start position:0% two big boxes over here so that includes 00:15:23.720 --> 00:15:26.509 align:start position:0% two big boxes over here so that includes a<00:15:23.880> range<00:15:24.120> of<00:15:24.320> governance<00:15:25.360> education<00:15:26.360> thank 00:15:26.509 --> 00:15:26.519 align:start position:0% a range of governance education thank 00:15:26.519 --> 00:15:29.550 align:start position:0% a range of governance education thank you 00:15:29.550 --> 00:15:29.560 align:start position:0% 00:15:29.560 --> 00:15:33.350 align:start position:0% um<00:15:30.560> education<00:15:31.399> analytics<00:15:32.079> projects<00:15:33.079> as<00:15:33.199> well 00:15:33.350 --> 00:15:33.360 align:start position:0% um education analytics projects as well 00:15:33.360 --> 00:15:35.069 align:start position:0% um education analytics projects as well as<00:15:33.519> technical<00:15:33.920> contributions<00:15:34.360> to<00:15:34.480> the<00:15:34.600> op 00:15:35.069 --> 00:15:35.079 align:start position:0% as technical contributions to the op 00:15:35.079 --> 00:15:37.990 align:start position:0% as technical contributions to the op stack<00:15:36.079> those<00:15:36.199> are<00:15:36.399> these<00:15:36.560> two<00:15:36.720> big<00:15:36.959> boxes<00:15:37.279> over 00:15:37.990 --> 00:15:38.000 align:start position:0% stack those are these two big boxes over 00:15:38.000 --> 00:15:40.710 align:start position:0% stack those are these two big boxes over here<00:15:39.000> and<00:15:39.160> then<00:15:39.399> off<00:15:39.560> to<00:15:39.720> the<00:15:39.880> right<00:15:40.279> we<00:15:40.480> have 00:15:40.710 --> 00:15:40.720 align:start position:0% here and then off to the right we have 00:15:40.720 --> 00:15:42.590 align:start position:0% here and then off to the right we have some<00:15:40.880> of<00:15:41.000> the<00:15:41.120> categories<00:15:41.639> that<00:15:41.720> are<00:15:41.920> probably 00:15:42.590 --> 00:15:42.600 align:start position:0% some of the categories that are probably 00:15:42.600 --> 00:15:43.949 align:start position:0% some of the categories that are probably most<00:15:42.880> critical<00:15:43.240> to<00:15:43.360> the<00:15:43.480> success<00:15:43.759> of<00:15:43.880> the 00:15:43.949 --> 00:15:43.959 align:start position:0% most critical to the success of the 00:15:43.959 --> 00:15:46.430 align:start position:0% most critical to the success of the super<00:15:44.399> chain<00:15:45.399> which<00:15:45.560> have<00:15:45.759> historically 00:15:46.430 --> 00:15:46.440 align:start position:0% super chain which have historically 00:15:46.440 --> 00:15:48.829 align:start position:0% super chain which have historically received<00:15:46.759> relatively<00:15:47.440> less<00:15:47.680> funding<00:15:48.600> so 00:15:48.829 --> 00:15:48.839 align:start position:0% received relatively less funding so 00:15:48.839 --> 00:15:51.670 align:start position:0% received relatively less funding so that's<00:15:49.040> about<00:15:49.240> 14<00:15:49.600> million<00:15:49.959> for<00:15:50.160> the<00:15:50.360> onchain 00:15:51.670 --> 00:15:51.680 align:start position:0% that's about 14 million for the onchain 00:15:51.680 --> 00:15:53.829 align:start position:0% that's about 14 million for the onchain builders<00:15:52.680> and<00:15:52.800> then<00:15:53.000> about<00:15:53.160> 4<00:15:53.360> million<00:15:53.680> for 00:15:53.829 --> 00:15:53.839 align:start position:0% builders and then about 4 million for 00:15:53.839 --> 00:15:56.110 align:start position:0% builders and then about 4 million for the<00:15:54.040> developer<00:15:54.759> libraries<00:15:55.759> so<00:15:55.880> I<00:15:56.000> know 00:15:56.110 --> 00:15:56.120 align:start position:0% the developer libraries so I know 00:15:56.120 --> 00:15:57.710 align:start position:0% the developer libraries so I know there's<00:15:56.279> other<00:15:56.480> programs<00:15:56.880> that<00:15:57.000> are<00:15:57.480> other 00:15:57.710 --> 00:15:57.720 align:start position:0% there's other programs that are other 00:15:57.720 --> 00:15:59.189 align:start position:0% there's other programs that are other rounds<00:15:58.000> that<00:15:58.120> are<00:15:58.319> in<00:15:58.480> in<00:15:58.519> the<00:15:58.600> works<00:15:59.040> right 00:15:59.189 --> 00:15:59.199 align:start position:0% rounds that are in in the works right 00:15:59.199 --> 00:16:01.110 align:start position:0% rounds that are in in the works right now<00:15:59.720> to<00:15:59.880> put<00:16:00.040> more<00:16:00.199> funding<00:16:00.480> into<00:16:00.720> developer 00:16:01.110 --> 00:16:01.120 align:start position:0% now to put more funding into developer 00:16:01.120 --> 00:16:03.030 align:start position:0% now to put more funding into developer tooling<00:16:01.880> but<00:16:02.079> historically<00:16:02.680> more<00:16:02.800> of<00:16:02.920> the 00:16:03.030 --> 00:16:03.040 align:start position:0% tooling but historically more of the 00:16:03.040 --> 00:16:05.350 align:start position:0% tooling but historically more of the funding<00:16:03.440> has<00:16:03.639> actually<00:16:03.880> gone<00:16:04.639> in<00:16:04.759> these<00:16:04.959> other 00:16:05.350 --> 00:16:05.360 align:start position:0% funding has actually gone in these other 00:16:05.360 --> 00:16:07.189 align:start position:0% funding has actually gone in these other areas<00:16:06.360> and<00:16:06.440> so<00:16:06.600> that<00:16:06.720> could<00:16:06.839> partially 00:16:07.189 --> 00:16:07.199 align:start position:0% areas and so that could partially 00:16:07.199 --> 00:16:10.030 align:start position:0% areas and so that could partially explain<00:16:07.480> why<00:16:07.600> there's<00:16:08.000> been<00:16:09.000> less<00:16:09.279> impact<00:16:09.759> on 00:16:10.030 --> 00:16:10.040 align:start position:0% explain why there's been less impact on 00:16:10.040 --> 00:16:13.430 align:start position:0% explain why there's been less impact on the<00:16:10.720> uh<00:16:11.519> on<00:16:11.639> the<00:16:11.720> onchain<00:16:12.160> activity<00:16:12.800> than 00:16:13.430 --> 00:16:13.440 align:start position:0% the uh on the onchain activity than 00:16:13.440 --> 00:16:16.309 align:start position:0% the uh on the onchain activity than General<00:16:13.800> open<00:16:14.040> source<00:16:14.319> developer 00:16:16.309 --> 00:16:16.319 align:start position:0% General open source developer 00:16:16.319 --> 00:16:19.110 align:start position:0% General open source developer activity<00:16:17.319> so<00:16:17.519> what's<00:16:17.800> next<00:16:18.399> um<00:16:18.639> this<00:16:18.720> is<00:16:18.920> just 00:16:19.110 --> 00:16:19.120 align:start position:0% activity so what's next um this is just 00:16:19.120 --> 00:16:20.870 align:start position:0% activity so what's next um this is just one<00:16:19.480> of<00:16:19.880> a<00:16:20.000> number<00:16:20.199> of<00:16:20.319> areas<00:16:20.600> that<00:16:20.680> we<00:16:20.759> are 00:16:20.870 --> 00:16:20.880 align:start position:0% one of a number of areas that we are 00:16:20.880 --> 00:16:22.269 align:start position:0% one of a number of areas that we are excited<00:16:21.199> to<00:16:21.319> explore<00:16:21.800> together<00:16:22.079> with<00:16:22.199> the 00:16:22.269 --> 00:16:22.279 align:start position:0% excited to explore together with the 00:16:22.279 --> 00:16:23.309 align:start position:0% excited to explore together with the optimism 00:16:23.309 --> 00:16:23.319 align:start position:0% optimism 00:16:23.319 --> 00:16:25.350 align:start position:0% optimism Community<00:16:24.319> obviously<00:16:24.720> there<00:16:24.880> is<00:16:25.040> some 00:16:25.350 --> 00:16:25.360 align:start position:0% Community obviously there is some 00:16:25.360 --> 00:16:26.710 align:start position:0% Community obviously there is some quantitative<00:16:25.839> and<00:16:25.959> qualitative<00:16:26.399> evidence 00:16:26.710 --> 00:16:26.720 align:start position:0% quantitative and qualitative evidence 00:16:26.720 --> 00:16:28.990 align:start position:0% quantitative and qualitative evidence that<00:16:26.839> retr<00:16:27.120> funding<00:16:27.440> is<00:16:27.600> having<00:16:27.800> an<00:16:27.959> impact 00:16:28.990 --> 00:16:29.000 align:start position:0% that retr funding is having an impact 00:16:29.000 --> 00:16:30.470 align:start position:0% that retr funding is having an impact but<00:16:29.199> we<00:16:29.360> really<00:16:29.519> aren't<00:16:29.800> in<00:16:29.880> a<00:16:30.040> position<00:16:30.360> right 00:16:30.470 --> 00:16:30.480 align:start position:0% but we really aren't in a position right 00:16:30.480 --> 00:16:32.309 align:start position:0% but we really aren't in a position right now<00:16:30.639> to<00:16:30.759> make<00:16:30.920> any<00:16:31.120> causal<00:16:31.480> statements<00:16:32.079> about 00:16:32.309 --> 00:16:32.319 align:start position:0% now to make any causal statements about 00:16:32.319 --> 00:16:33.069 align:start position:0% now to make any causal statements about that 00:16:33.069 --> 00:16:33.079 align:start position:0% that 00:16:33.079 --> 00:16:35.430 align:start position:0% that impact<00:16:34.079> for<00:16:34.279> us<00:16:34.480> at<00:16:34.680> open<00:16:34.880> source<00:16:35.079> Observer 00:16:35.430 --> 00:16:35.440 align:start position:0% impact for us at open source Observer 00:16:35.440 --> 00:16:39.269 align:start position:0% impact for us at open source Observer this<00:16:35.519> is<00:16:35.600> a<00:16:35.720> really<00:16:35.880> big<00:16:36.079> area<00:16:36.279> of<00:16:36.440> focus<00:16:37.120> in 00:16:39.269 --> 00:16:39.279 align:start position:0% this is a really big area of focus in 00:16:39.279 --> 00:16:41.790 align:start position:0% this is a really big area of focus in 2025<00:16:40.279> we<00:16:40.440> also<00:16:40.639> know<00:16:40.880> and<00:16:41.000> you<00:16:41.079> don't<00:16:41.199> need<00:16:41.360> to 00:16:41.790 --> 00:16:41.800 align:start position:0% 2025 we also know and you don't need to 00:16:41.800 --> 00:16:43.670 align:start position:0% 2025 we also know and you don't need to um<00:16:42.160> bring<00:16:42.399> up<00:16:42.600> good<00:16:42.839> heart's<00:16:43.040> law<00:16:43.319> just<00:16:43.480> yet 00:16:43.670 --> 00:16:43.680 align:start position:0% um bring up good heart's law just yet 00:16:43.680 --> 00:16:45.189 align:start position:0% um bring up good heart's law just yet but<00:16:43.800> we<00:16:43.920> know<00:16:44.079> that<00:16:44.199> it's<00:16:44.399> very<00:16:44.560> easy<00:16:44.880> to<00:16:45.000> turn 00:16:45.189 --> 00:16:45.199 align:start position:0% but we know that it's very easy to turn 00:16:45.199 --> 00:16:48.389 align:start position:0% but we know that it's very easy to turn metrics<00:16:45.639> into<00:16:45.839> targets<00:16:46.480> and<00:16:46.600> to<00:16:46.759> game<00:16:47.319> them<00:16:48.319> on 00:16:48.389 --> 00:16:48.399 align:start position:0% metrics into targets and to game them on 00:16:48.399 --> 00:16:49.710 align:start position:0% metrics into targets and to game them on the<00:16:48.519> other<00:16:48.680> hand<00:16:48.880> we<00:16:49.000> also<00:16:49.199> know<00:16:49.399> that<00:16:49.600> to 00:16:49.710 --> 00:16:49.720 align:start position:0% the other hand we also know that to 00:16:49.720 --> 00:16:51.470 align:start position:0% the other hand we also know that to scale<00:16:50.040> this<00:16:50.240> program<00:16:50.639> data<00:16:50.839> is<00:16:50.959> going<00:16:51.040> to<00:16:51.199> play 00:16:51.470 --> 00:16:51.480 align:start position:0% scale this program data is going to play 00:16:51.480 --> 00:16:53.670 align:start position:0% scale this program data is going to play a<00:16:51.600> critical<00:16:52.040> role<00:16:52.920> and<00:16:53.040> so<00:16:53.319> the<00:16:53.440> real 00:16:53.670 --> 00:16:53.680 align:start position:0% a critical role and so the real 00:16:53.680 --> 00:16:55.230 align:start position:0% a critical role and so the real challenge<00:16:54.079> here 00:16:55.230 --> 00:16:55.240 align:start position:0% challenge here 00:16:55.240 --> 00:16:58.189 align:start position:0% challenge here is<00:16:56.240> finding<00:16:56.519> the<00:16:56.639> right<00:16:56.839> balance<00:16:57.240> of<00:16:57.399> human 00:16:58.189 --> 00:16:58.199 align:start position:0% is finding the right balance of human 00:16:58.199 --> 00:17:00.590 align:start position:0% is finding the right balance of human human<00:16:58.440> judgment<00:16:59.279> and<00:16:59.480> data<00:17:00.040> that<00:17:00.160> can<00:17:00.279> improve 00:17:00.590 --> 00:17:00.600 align:start position:0% human judgment and data that can improve 00:17:00.600 --> 00:17:02.670 align:start position:0% human judgment and data that can improve decision<00:17:01.000> making<00:17:01.880> um<00:17:02.040> metrics<00:17:02.399> should<00:17:02.560> be 00:17:02.670 --> 00:17:02.680 align:start position:0% decision making um metrics should be 00:17:02.680 --> 00:17:04.189 align:start position:0% decision making um metrics should be evolutionary<00:17:03.600> as<00:17:03.720> we<00:17:03.839> learn<00:17:04.039> more 00:17:04.189 --> 00:17:04.199 align:start position:0% evolutionary as we learn more 00:17:04.199 --> 00:17:06.230 align:start position:0% evolutionary as we learn more information<00:17:05.000> they<00:17:05.120> should<00:17:05.360> improve<00:17:06.039> and<00:17:06.160> we 00:17:06.230 --> 00:17:06.240 align:start position:0% information they should improve and we 00:17:06.240 --> 00:17:07.750 align:start position:0% information they should improve and we should<00:17:06.400> be<00:17:06.520> able<00:17:06.640> to<00:17:06.799> back<00:17:07.079> test<00:17:07.319> the<00:17:07.439> results 00:17:07.750 --> 00:17:07.760 align:start position:0% should be able to back test the results 00:17:07.760 --> 00:17:09.549 align:start position:0% should be able to back test the results that<00:17:07.880> we<00:17:08.000> get<00:17:08.120> from<00:17:08.280> each<00:17:08.360> of<00:17:08.520> these<00:17:08.679> rounds 00:17:09.549 --> 00:17:09.559 align:start position:0% that we get from each of these rounds 00:17:09.559 --> 00:17:11.150 align:start position:0% that we get from each of these rounds against<00:17:09.799> the<00:17:09.959> metrics<00:17:10.520> and<00:17:10.640> the<00:17:10.760> decisions 00:17:11.150 --> 00:17:11.160 align:start position:0% against the metrics and the decisions 00:17:11.160 --> 00:17:12.909 align:start position:0% against the metrics and the decisions that<00:17:11.280> we<00:17:11.439> Ed<00:17:11.720> to<00:17:11.839> to<00:17:12.000> fund<00:17:12.280> those<00:17:12.480> things<00:17:12.799> and 00:17:12.909 --> 00:17:12.919 align:start position:0% that we Ed to to fund those things and 00:17:12.919 --> 00:17:14.549 align:start position:0% that we Ed to to fund those things and ideally 00:17:14.549 --> 00:17:14.559 align:start position:0% ideally 00:17:14.559 --> 00:17:17.189 align:start position:0% ideally incrementally<00:17:15.559> improve<00:17:16.039> each<00:17:16.240> time<00:17:16.480> around 00:17:17.189 --> 00:17:17.199 align:start position:0% incrementally improve each time around 00:17:17.199 --> 00:17:19.510 align:start position:0% incrementally improve each time around um<00:17:17.319> this<00:17:17.439> is<00:17:17.559> also<00:17:17.760> a<00:17:17.919> big<00:17:18.120> area<00:17:18.919> of<00:17:19.079> focus<00:17:19.319> for 00:17:19.510 --> 00:17:19.520 align:start position:0% um this is also a big area of focus for 00:17:19.520 --> 00:17:26.230 align:start position:0% um this is also a big area of focus for open<00:17:19.720> source<00:17:19.959> observer<00:17:20.480> in 00:17:26.230 --> 00:17:26.240 align:start position:0% 00:17:26.240 --> 00:17:28.510 align:start position:0% 2025<00:17:27.240> one<00:17:27.360> of<00:17:27.480> the<00:17:27.600> things<00:17:27.839> that<00:17:27.959> we<00:17:28.120> learned 00:17:28.510 --> 00:17:28.520 align:start position:0% 2025 one of the things that we learned 00:17:28.520 --> 00:17:31.510 align:start position:0% 2025 one of the things that we learned from<00:17:29.280> recent<00:17:29.679> rounds<00:17:30.679> is<00:17:30.880> that<00:17:31.080> technical 00:17:31.510 --> 00:17:31.520 align:start position:0% from recent rounds is that technical 00:17:31.520 --> 00:17:35.430 align:start position:0% from recent rounds is that technical experts<00:17:32.000> evaluate<00:17:32.559> impact<00:17:33.440> differently<00:17:34.440> than 00:17:35.430 --> 00:17:35.440 align:start position:0% experts evaluate impact differently than 00:17:35.440 --> 00:17:37.150 align:start position:0% experts evaluate impact differently than non-experts<00:17:36.440> now<00:17:36.640> this<00:17:36.720> shouldn't<00:17:37.000> be<00:17:37.080> a 00:17:37.150 --> 00:17:37.160 align:start position:0% non-experts now this shouldn't be a 00:17:37.160 --> 00:17:40.350 align:start position:0% non-experts now this shouldn't be a surprise<00:17:37.480> to<00:17:37.679> anyone<00:17:38.679> um<00:17:39.360> up<00:17:39.480> to<00:17:39.679> now<00:17:40.200> the 00:17:40.350 --> 00:17:40.360 align:start position:0% surprise to anyone um up to now the 00:17:40.360 --> 00:17:42.150 align:start position:0% surprise to anyone um up to now the badge<00:17:40.640> holder<00:17:40.880> pool<00:17:41.320> that<00:17:41.440> optimism<00:17:41.960> has 00:17:42.150 --> 00:17:42.160 align:start position:0% badge holder pool that optimism has 00:17:42.160 --> 00:17:44.470 align:start position:0% badge holder pool that optimism has assembled<00:17:42.840> consists<00:17:43.280> mostly<00:17:43.960> it<00:17:44.080> consists<00:17:44.400> of 00:17:44.470 --> 00:17:44.480 align:start position:0% assembled consists mostly it consists of 00:17:44.480 --> 00:17:46.830 align:start position:0% assembled consists mostly it consists of a<00:17:44.559> mix<00:17:44.760> of<00:17:45.000> experts<00:17:45.480> technical<00:17:45.880> experts<00:17:46.520> and 00:17:46.830 --> 00:17:46.840 align:start position:0% a mix of experts technical experts and 00:17:46.840 --> 00:17:47.710 align:start position:0% a mix of experts technical experts and and 00:17:47.710 --> 00:17:47.720 align:start position:0% and 00:17:47.720 --> 00:17:50.510 align:start position:0% and non-experts<00:17:48.720> and<00:17:48.960> in<00:17:49.200> round<00:17:49.600> five<00:17:50.320> there<00:17:50.440> was 00:17:50.510 --> 00:17:50.520 align:start position:0% non-experts and in round five there was 00:17:50.520 --> 00:17:51.909 align:start position:0% non-experts and in round five there was an<00:17:50.679> experiment<00:17:51.080> that<00:17:51.160> was<00:17:51.320> done<00:17:51.480> to<00:17:51.640> actually 00:17:51.909 --> 00:17:51.919 align:start position:0% an experiment that was done to actually 00:17:51.919 --> 00:17:53.590 align:start position:0% an experiment that was done to actually test<00:17:52.559> the<00:17:52.799> groups<00:17:53.039> of<00:17:53.160> experts<00:17:53.480> and 00:17:53.590 --> 00:17:53.600 align:start position:0% test the groups of experts and 00:17:53.600 --> 00:17:55.590 align:start position:0% test the groups of experts and non-experts<00:17:54.240> prefer<00:17:54.640> different<00:17:54.919> projects 00:17:55.590 --> 00:17:55.600 align:start position:0% non-experts prefer different projects 00:17:55.600 --> 00:17:57.870 align:start position:0% non-experts prefer different projects did<00:17:55.760> they<00:17:55.880> vote<00:17:56.520> differently<00:17:57.520> the<00:17:57.640> answer 00:17:57.870 --> 00:17:57.880 align:start position:0% did they vote differently the answer 00:17:57.880 --> 00:17:59.990 align:start position:0% did they vote differently the answer probably<00:17:58.080> not<00:17:58.200> surprisingly<00:17:58.679> was<00:17:58.960> was<00:17:59.159> yes<00:17:59.880> um 00:17:59.990 --> 00:18:00.000 align:start position:0% probably not surprisingly was was yes um 00:18:00.000 --> 00:18:01.510 align:start position:0% probably not surprisingly was was yes um there<00:18:00.080> are<00:18:00.240> pretty<00:18:00.440> big<00:18:00.640> differences<00:18:01.200> in<00:18:01.360> how 00:18:01.510 --> 00:18:01.520 align:start position:0% there are pretty big differences in how 00:18:01.520 --> 00:18:03.750 align:start position:0% there are pretty big differences in how they<00:18:01.679> voted<00:18:02.559> and<00:18:02.760> not<00:18:02.919> just<00:18:03.080> on<00:18:03.200> the<00:18:03.320> projects 00:18:03.750 --> 00:18:03.760 align:start position:0% they voted and not just on the projects 00:18:03.760 --> 00:18:06.270 align:start position:0% they voted and not just on the projects they<00:18:03.880> picked<00:18:04.559> but<00:18:04.760> also<00:18:05.240> how<00:18:05.679> much<00:18:05.880> funding 00:18:06.270 --> 00:18:06.280 align:start position:0% they picked but also how much funding 00:18:06.280 --> 00:18:09.190 align:start position:0% they picked but also how much funding they<00:18:06.440> thought<00:18:06.799> top<00:18:07.080> projects<00:18:07.600> should<00:18:08.200> receive 00:18:09.190 --> 00:18:09.200 align:start position:0% they thought top projects should receive 00:18:09.200 --> 00:18:11.270 align:start position:0% they thought top projects should receive so<00:18:09.400> this<00:18:09.520> chart<00:18:09.840> here<00:18:10.039> shows<00:18:10.840> some<00:18:11.000> of<00:18:11.120> the 00:18:11.270 --> 00:18:11.280 align:start position:0% so this chart here shows some of the 00:18:11.280 --> 00:18:13.029 align:start position:0% so this chart here shows some of the most<00:18:11.559> divisive<00:18:12.080> projects<00:18:12.480> ones<00:18:12.720> that 00:18:13.029 --> 00:18:13.039 align:start position:0% most divisive projects ones that 00:18:13.039 --> 00:18:15.510 align:start position:0% most divisive projects ones that received<00:18:13.960> um<00:18:14.159> a<00:18:14.280> pretty<00:18:14.480> big<00:18:14.679> difference<00:18:15.120> or 00:18:15.510 --> 00:18:15.520 align:start position:0% received um a pretty big difference or 00:18:15.520 --> 00:18:16.870 align:start position:0% received um a pretty big difference or big<00:18:15.679> spread<00:18:16.039> between<00:18:16.240> what<00:18:16.400> experts<00:18:16.720> thought 00:18:16.870 --> 00:18:16.880 align:start position:0% big spread between what experts thought 00:18:16.880 --> 00:18:18.710 align:start position:0% big spread between what experts thought they<00:18:17.039> deserved<00:18:17.799> and<00:18:17.919> what<00:18:18.080> non-experts 00:18:18.710 --> 00:18:18.720 align:start position:0% they deserved and what non-experts 00:18:18.720 --> 00:18:20.909 align:start position:0% they deserved and what non-experts thought<00:18:18.840> they<00:18:19.360> deserved<00:18:20.360> um<00:18:20.480> and<00:18:20.600> so<00:18:20.720> going 00:18:20.909 --> 00:18:20.919 align:start position:0% thought they deserved um and so going 00:18:20.919 --> 00:18:22.230 align:start position:0% thought they deserved um and so going forward<00:18:21.240> I<00:18:21.320> think<00:18:21.440> that<00:18:21.559> feedback<00:18:21.919> is<00:18:22.080> going 00:18:22.230 --> 00:18:22.240 align:start position:0% forward I think that feedback is going 00:18:22.240 --> 00:18:24.310 align:start position:0% forward I think that feedback is going to<00:18:22.840> be<00:18:22.960> used<00:18:23.200> to<00:18:23.320> improve<00:18:23.600> the<00:18:23.720> design<00:18:24.159> of 00:18:24.310 --> 00:18:24.320 align:start position:0% to be used to improve the design of 00:18:24.320 --> 00:18:26.029 align:start position:0% to be used to improve the design of future<00:18:24.640> rounds<00:18:25.360> and<00:18:25.520> particularly<00:18:25.840> ones<00:18:25.960> that 00:18:26.029 --> 00:18:26.039 align:start position:0% future rounds and particularly ones that 00:18:26.039 --> 00:18:27.710 align:start position:0% future rounds and particularly ones that are<00:18:26.159> more<00:18:26.280> technically<00:18:26.679> focused<00:18:27.320> ensure<00:18:27.600> that 00:18:27.710 --> 00:18:27.720 align:start position:0% are more technically focused ensure that 00:18:27.720 --> 00:18:29.590 align:start position:0% are more technically focused ensure that the<00:18:27.840> right<00:18:28.000> composition<00:18:28.360> of<00:18:28.480> B<00:18:28.840> holders<00:18:29.400> are 00:18:29.590 --> 00:18:29.600 align:start position:0% the right composition of B holders are 00:18:29.600 --> 00:18:32.870 align:start position:0% the right composition of B holders are equipped<00:18:30.000> to<00:18:30.799> um<00:18:31.320> you<00:18:31.440> know<00:18:31.919> uh<00:18:32.120> vote<00:18:32.400> on<00:18:32.720> on 00:18:32.870 --> 00:18:32.880 align:start position:0% equipped to um you know uh vote on on 00:18:32.880 --> 00:18:35.909 align:start position:0% equipped to um you know uh vote on on what<00:18:33.000> this<00:18:33.159> product<00:18:33.400> should 00:18:35.909 --> 00:18:35.919 align:start position:0% 00:18:35.919 --> 00:18:38.669 align:start position:0% receive<00:18:36.919> um<00:18:37.120> another<00:18:37.400> issue<00:18:37.760> that<00:18:37.880> comes<00:18:38.159> up 00:18:38.669 --> 00:18:38.679 align:start position:0% receive um another issue that comes up 00:18:38.679 --> 00:18:41.310 align:start position:0% receive um another issue that comes up are<00:18:39.000> just<00:18:39.280> like<00:18:39.440> the<00:18:39.600> incentives<00:18:40.240> this<00:18:40.919> uh 00:18:41.310 --> 00:18:41.320 align:start position:0% are just like the incentives this uh 00:18:41.320 --> 00:18:42.669 align:start position:0% are just like the incentives this uh this<00:18:41.440> sends<00:18:41.799> to<00:18:42.080> different<00:18:42.320> types<00:18:42.520> of 00:18:42.669 --> 00:18:42.679 align:start position:0% this sends to different types of 00:18:42.679 --> 00:18:44.870 align:start position:0% this sends to different types of Builders<00:18:43.679> uh<00:18:43.760> so<00:18:43.960> you<00:18:44.159> have<00:18:44.360> some<00:18:44.559> big 00:18:44.870 --> 00:18:44.880 align:start position:0% Builders uh so you have some big 00:18:44.880 --> 00:18:47.230 align:start position:0% Builders uh so you have some big projects<00:18:45.320> you<00:18:45.440> have<00:18:45.559> some<00:18:45.760> small<00:18:46.240> projects 00:18:47.230 --> 00:18:47.240 align:start position:0% projects you have some small projects 00:18:47.240 --> 00:18:49.190 align:start position:0% projects you have some small projects and<00:18:47.679> when<00:18:47.840> you<00:18:47.960> have<00:18:48.080> an<00:18:48.240> allocation<00:18:48.840> which<00:18:48.960> is 00:18:49.190 --> 00:18:49.200 align:start position:0% and when you have an allocation which is 00:18:49.200 --> 00:18:51.789 align:start position:0% and when you have an allocation which is not<00:18:50.080> um<00:18:50.679> like<00:18:50.760> a<00:18:50.880> very<00:18:51.039> steep<00:18:51.320> power<00:18:51.520> law 00:18:51.789 --> 00:18:51.799 align:start position:0% not um like a very steep power law 00:18:51.799 --> 00:18:53.669 align:start position:0% not um like a very steep power law distribution<00:18:52.799> what<00:18:52.960> you<00:18:53.080> can<00:18:53.400> what<00:18:53.480> you<00:18:53.559> can 00:18:53.669 --> 00:18:53.679 align:start position:0% distribution what you can what you can 00:18:53.679 --> 00:18:55.070 align:start position:0% distribution what you can what you can see<00:18:53.919> is<00:18:54.000> that<00:18:54.200> smaller<00:18:54.520> projects<00:18:54.840> there<00:18:54.919> might 00:18:55.070 --> 00:18:55.080 align:start position:0% see is that smaller projects there might 00:18:55.080 --> 00:18:56.669 align:start position:0% see is that smaller projects there might be<00:18:55.159> an<00:18:55.240> incentive<00:18:55.559> to<00:18:55.720> create<00:18:56.200> smaller 00:18:56.669 --> 00:18:56.679 align:start position:0% be an incentive to create smaller 00:18:56.679 --> 00:19:00.190 align:start position:0% be an incentive to create smaller projects<00:18:57.159> or<00:18:57.360> to<00:18:57.640> atomize<00:18:58.080> your<00:18:58.200> work<00:18:59.200> into 00:19:00.190 --> 00:19:00.200 align:start position:0% projects or to atomize your work into 00:19:00.200 --> 00:19:03.390 align:start position:0% projects or to atomize your work into kind<00:19:00.320> of<00:19:00.559> a<00:19:01.200> a<00:19:01.320> set<00:19:01.520> of<00:19:02.000> very<00:19:02.280> small<00:19:02.600> individual 00:19:03.390 --> 00:19:03.400 align:start position:0% kind of a a set of very small individual 00:19:03.400 --> 00:19:06.270 align:start position:0% kind of a a set of very small individual contributions<00:19:04.400> um<00:19:04.600> as<00:19:04.760> opposed<00:19:05.120> to<00:19:05.880> capture 00:19:06.270 --> 00:19:06.280 align:start position:0% contributions um as opposed to capture 00:19:06.280 --> 00:19:08.110 align:start position:0% contributions um as opposed to capture the<00:19:06.480> collective<00:19:06.919> impact<00:19:07.240> of<00:19:07.400> of<00:19:07.480> a<00:19:07.600> larger 00:19:08.110 --> 00:19:08.120 align:start position:0% the collective impact of of a larger 00:19:08.120 --> 00:19:10.310 align:start position:0% the collective impact of of a larger team<00:19:09.120> we<00:19:09.200> can<00:19:09.320> see<00:19:09.559> this<00:19:09.720> at<00:19:09.840> least<00:19:10.000> in<00:19:10.200> in 00:19:10.310 --> 00:19:10.320 align:start position:0% team we can see this at least in in 00:19:10.320 --> 00:19:12.710 align:start position:0% team we can see this at least in in round<00:19:10.640> five<00:19:11.559> where<00:19:12.080> some<00:19:12.240> of<00:19:12.320> the<00:19:12.400> projects 00:19:12.710 --> 00:19:12.720 align:start position:0% round five where some of the projects 00:19:12.720 --> 00:19:14.950 align:start position:0% round five where some of the projects that<00:19:12.840> did<00:19:12.960> the<00:19:13.120> best<00:19:13.520> had<00:19:13.720> the<00:19:13.799> smallest<00:19:14.200> team 00:19:14.950 --> 00:19:14.960 align:start position:0% that did the best had the smallest team 00:19:14.960 --> 00:19:17.510 align:start position:0% that did the best had the smallest team um<00:19:15.159> per<00:19:15.360> on<00:19:15.440> a<00:19:15.600> per<00:19:16.000> contributor<00:19:16.559> basis<00:19:17.280> and<00:19:17.360> so 00:19:17.510 --> 00:19:17.520 align:start position:0% um per on a per contributor basis and so 00:19:17.520 --> 00:19:19.110 align:start position:0% um per on a per contributor basis and so this<00:19:17.919> could<00:19:18.080> create<00:19:18.320> some<00:19:18.480> kind<00:19:18.600> of<00:19:18.720> perverse 00:19:19.110 --> 00:19:19.120 align:start position:0% this could create some kind of perverse 00:19:19.120 --> 00:19:21.310 align:start position:0% this could create some kind of perverse incentive<00:19:19.520> for<00:19:19.679> teams<00:19:20.039> to<00:19:20.679> fractionalize 00:19:21.310 --> 00:19:21.320 align:start position:0% incentive for teams to fractionalize 00:19:21.320 --> 00:19:23.390 align:start position:0% incentive for teams to fractionalize their<00:19:21.480> work<00:19:21.919> as<00:19:22.039> opposed<00:19:22.360> to<00:19:22.559> representing<00:19:23.200> it 00:19:23.390 --> 00:19:23.400 align:start position:0% their work as opposed to representing it 00:19:23.400 --> 00:19:27.630 align:start position:0% their work as opposed to representing it as<00:19:23.559> one<00:19:23.960> cohesive<00:19:24.960> um<00:19:25.799> one<00:19:26.039> cohesive<00:19:26.480> team<00:19:27.480> uh 00:19:27.630 --> 00:19:27.640 align:start position:0% as one cohesive um one cohesive team uh 00:19:27.640 --> 00:19:29.390 align:start position:0% as one cohesive um one cohesive team uh trend<00:19:27.880> from<00:19:28.000> protocol<00:19:28.360> Guild<00:19:28.919> a<00:19:29.039> very<00:19:29.200> nice 00:19:29.390 --> 00:19:29.400 align:start position:0% trend from protocol Guild a very nice 00:19:29.400 --> 00:19:31.789 align:start position:0% trend from protocol Guild a very nice essay<00:19:30.280> pointing<00:19:30.559> out<00:19:30.760> this<00:19:30.960> fact<00:19:31.480> and<00:19:31.600> doing 00:19:31.789 --> 00:19:31.799 align:start position:0% essay pointing out this fact and doing 00:19:31.799 --> 00:19:33.149 align:start position:0% essay pointing out this fact and doing some 00:19:33.149 --> 00:19:33.159 align:start position:0% some 00:19:33.159 --> 00:19:35.750 align:start position:0% some comparisons<00:19:34.159> um<00:19:34.320> and<00:19:34.400> then<00:19:34.600> the<00:19:34.720> fifth<00:19:34.960> one<00:19:35.480> is 00:19:35.750 --> 00:19:35.760 align:start position:0% comparisons um and then the fifth one is 00:19:35.760 --> 00:19:37.549 align:start position:0% comparisons um and then the fifth one is that<00:19:35.919> there<00:19:36.120> is<00:19:36.400> a<00:19:36.679> trade-off<00:19:37.159> between 00:19:37.549 --> 00:19:37.559 align:start position:0% that there is a trade-off between 00:19:37.559 --> 00:19:40.390 align:start position:0% that there is a trade-off between mathematical<00:19:38.200> accuracy<00:19:39.200> and<00:19:39.480> just<00:19:39.679> The<00:19:39.880> Vibes 00:19:40.390 --> 00:19:40.400 align:start position:0% mathematical accuracy and just The Vibes 00:19:40.400 --> 00:19:41.590 align:start position:0% mathematical accuracy and just The Vibes and<00:19:40.559> the<00:19:40.679> spirit<00:19:40.960> that<00:19:41.039> comes<00:19:41.240> with<00:19:41.400> each<00:19:41.480> of 00:19:41.590 --> 00:19:41.600 align:start position:0% and the spirit that comes with each of 00:19:41.600 --> 00:19:43.870 align:start position:0% and the spirit that comes with each of these<00:19:41.799> rounds<00:19:42.640> um<00:19:42.840> we<00:19:43.000> quants<00:19:43.520> we<00:19:43.600> tend<00:19:43.760> to 00:19:43.870 --> 00:19:43.880 align:start position:0% these rounds um we quants we tend to 00:19:43.880 --> 00:19:45.549 align:start position:0% these rounds um we quants we tend to suck<00:19:44.120> the<00:19:44.200> life<00:19:44.360> out<00:19:44.480> of<00:19:44.679> things<00:19:45.280> and<00:19:45.360> there's 00:19:45.549 --> 00:19:45.559 align:start position:0% suck the life out of things and there's 00:19:45.559 --> 00:19:47.470 align:start position:0% suck the life out of things and there's something<00:19:45.840> very<00:19:46.080> special<00:19:46.559> about<00:19:46.880> the<00:19:47.120> spirit 00:19:47.470 --> 00:19:47.480 align:start position:0% something very special about the spirit 00:19:47.480 --> 00:19:48.990 align:start position:0% something very special about the spirit and<00:19:47.600> The<00:19:47.720> Vibes<00:19:47.960> that<00:19:48.080> are<00:19:48.200> created<00:19:48.799> around 00:19:48.990 --> 00:19:49.000 align:start position:0% and The Vibes that are created around 00:19:49.000 --> 00:19:51.630 align:start position:0% and The Vibes that are created around each<00:19:49.120> of<00:19:49.240> these<00:19:49.360> retr<00:19:49.640> funding<00:19:49.960> rounds<00:19:50.840> and<00:19:50.960> so 00:19:51.630 --> 00:19:51.640 align:start position:0% each of these retr funding rounds and so 00:19:51.640 --> 00:19:53.510 align:start position:0% each of these retr funding rounds and so as<00:19:51.799> the<00:19:51.919> program<00:19:52.280> becomes<00:19:52.600> more<00:19:52.840> accurate<00:19:53.360> and 00:19:53.510 --> 00:19:53.520 align:start position:0% as the program becomes more accurate and 00:19:53.520 --> 00:19:55.549 align:start position:0% as the program becomes more accurate and predictive<00:19:54.440> um<00:19:54.600> there<00:19:54.720> could<00:19:54.840> be<00:19:54.919> a<00:19:55.039> trade-off 00:19:55.549 --> 00:19:55.559 align:start position:0% predictive um there could be a trade-off 00:19:55.559 --> 00:19:59.029 align:start position:0% predictive um there could be a trade-off in<00:19:55.679> terms<00:19:55.919> of<00:19:56.200> the<00:19:57.039> uh<00:19:57.240> the<00:19:57.360> energy<00:19:58.120> and<00:19:58.360> the 00:19:59.029 --> 00:19:59.039 align:start position:0% in terms of the uh the energy and the 00:19:59.039 --> 00:20:00.950 align:start position:0% in terms of the uh the energy and the attention<00:19:59.440> that<00:19:59.600> this<00:19:59.760> gains<00:20:00.440> um<00:20:00.640> because 00:20:00.950 --> 00:20:00.960 align:start position:0% attention that this gains um because 00:20:00.960 --> 00:20:02.830 align:start position:0% attention that this gains um because there's<00:20:01.280> less<00:20:01.640> speculation<00:20:02.280> and<00:20:02.440> less<00:20:02.640> hope 00:20:02.830 --> 00:20:02.840 align:start position:0% there's less speculation and less hope 00:20:02.840 --> 00:20:05.070 align:start position:0% there's less speculation and less hope for<00:20:03.000> some<00:20:03.159> for<00:20:03.280> some<00:20:03.679> Builders<00:20:04.679> we<00:20:04.799> definitely 00:20:05.070 --> 00:20:05.080 align:start position:0% for some for some Builders we definitely 00:20:05.080 --> 00:20:06.669 align:start position:0% for some for some Builders we definitely saw<00:20:05.240> that<00:20:05.360> round<00:20:05.600> three<00:20:06.120> kind<00:20:06.240> of<00:20:06.320> marked<00:20:06.559> a 00:20:06.669 --> 00:20:06.679 align:start position:0% saw that round three kind of marked a 00:20:06.679 --> 00:20:08.590 align:start position:0% saw that round three kind of marked a high<00:20:06.880> water<00:20:07.080> point<00:20:07.400> in<00:20:07.520> terms<00:20:07.720> of<00:20:07.919> the<00:20:08.320> social 00:20:08.590 --> 00:20:08.600 align:start position:0% high water point in terms of the social 00:20:08.600 --> 00:20:10.350 align:start position:0% high water point in terms of the social media<00:20:08.880> attention<00:20:09.200> at<00:20:09.360> least<00:20:09.880> that<00:20:10.039> retr 00:20:10.350 --> 00:20:10.360 align:start position:0% media attention at least that retr 00:20:10.360 --> 00:20:12.149 align:start position:0% media attention at least that retr funding 00:20:12.149 --> 00:20:12.159 align:start position:0% funding 00:20:12.159 --> 00:20:15.029 align:start position:0% funding received<00:20:13.159> um<00:20:14.039> we<00:20:14.200> believe<00:20:14.480> that<00:20:14.600> the<00:20:14.720> upside 00:20:15.029 --> 00:20:15.039 align:start position:0% received um we believe that the upside 00:20:15.039 --> 00:20:16.390 align:start position:0% received um we believe that the upside to<00:20:15.159> figuring<00:20:15.440> out<00:20:15.600> these<00:20:15.760> things<00:20:16.039> and<00:20:16.159> working 00:20:16.390 --> 00:20:16.400 align:start position:0% to figuring out these things and working 00:20:16.400 --> 00:20:18.669 align:start position:0% to figuring out these things and working on<00:20:16.520> these<00:20:16.679> challenges<00:20:17.640> has<00:20:17.799> a<00:20:17.960> potential<00:20:18.559> to 00:20:18.669 --> 00:20:18.679 align:start position:0% on these challenges has a potential to 00:20:18.679 --> 00:20:21.990 align:start position:0% on these challenges has a potential to be<00:20:19.039> huge<00:20:20.039> if<00:20:20.120> you<00:20:20.280> just<00:20:20.400> look<00:20:20.520> at<00:20:20.679> the<00:20:20.840> size<00:20:21.360> of 00:20:21.990 --> 00:20:22.000 align:start position:0% be huge if you just look at the size of 00:20:22.000 --> 00:20:23.350 align:start position:0% be huge if you just look at the size of the<00:20:22.120> number<00:20:22.400> of<00:20:22.679> developers<00:20:23.120> that<00:20:23.200> are 00:20:23.350 --> 00:20:23.360 align:start position:0% the number of developers that are 00:20:23.360 --> 00:20:25.669 align:start position:0% the number of developers that are contributing<00:20:23.919> to<00:20:24.080> open<00:20:24.320> source<00:20:25.039> is<00:20:25.200> a<00:20:25.360> global 00:20:25.669 --> 00:20:25.679 align:start position:0% contributing to open source is a global 00:20:25.679 --> 00:20:27.270 align:start position:0% contributing to open source is a global movement<00:20:26.159> and<00:20:26.240> If<00:20:26.360> This<00:20:26.480> Were<00:20:26.640> a<00:20:26.760> nation<00:20:27.159> it 00:20:27.270 --> 00:20:27.280 align:start position:0% movement and If This Were a nation it 00:20:27.280 --> 00:20:28.710 align:start position:0% movement and If This Were a nation it would<00:20:27.400> be<00:20:27.520> as<00:20:27.640> large<00:20:27.880> as<00:20:28.000> the<00:20:28.120> population<00:20:28.480> of 00:20:28.710 --> 00:20:28.720 align:start position:0% would be as large as the population of 00:20:28.720 --> 00:20:31.750 align:start position:0% would be as large as the population of Thailand<00:20:29.520> or<00:20:29.799> Mexico<00:20:30.400> or<00:20:30.600> Germany<00:20:31.440> so<00:20:31.640> there 00:20:31.750 --> 00:20:31.760 align:start position:0% Thailand or Mexico or Germany so there 00:20:31.760 --> 00:20:34.669 align:start position:0% Thailand or Mexico or Germany so there is<00:20:31.919> a<00:20:32.120> large<00:20:32.840> Global<00:20:33.559> borderless<00:20:34.120> movement 00:20:34.669 --> 00:20:34.679 align:start position:0% is a large Global borderless movement 00:20:34.679 --> 00:20:37.310 align:start position:0% is a large Global borderless movement around<00:20:34.919> open<00:20:35.640> source<00:20:36.640> and<00:20:36.799> historically<00:20:37.240> we 00:20:37.310 --> 00:20:37.320 align:start position:0% around open source and historically we 00:20:37.320 --> 00:20:39.230 align:start position:0% around open source and historically we have<00:20:37.440> not<00:20:37.600> been<00:20:37.760> very<00:20:37.960> good<00:20:38.120> at<00:20:38.240> funding<00:20:38.600> it<00:20:39.120> If 00:20:39.230 --> 00:20:39.240 align:start position:0% have not been very good at funding it If 00:20:39.240 --> 00:20:40.870 align:start position:0% have not been very good at funding it If This<00:20:39.360> Were<00:20:39.520> a<00:20:39.640> nation<00:20:40.080> the<00:20:40.200> amount<00:20:40.400> of<00:20:40.520> funding 00:20:40.870 --> 00:20:40.880 align:start position:0% This Were a nation the amount of funding 00:20:40.880 --> 00:20:42.990 align:start position:0% This Were a nation the amount of funding that<00:20:41.000> it<00:20:41.120> is<00:20:41.320> allocating<00:20:41.840> towards<00:20:42.120> its<00:20:42.640> public 00:20:42.990 --> 00:20:43.000 align:start position:0% that it is allocating towards its public 00:20:43.000 --> 00:20:45.549 align:start position:0% that it is allocating towards its public infrastructure<00:20:44.000> would<00:20:44.159> be<00:20:44.280> on<00:20:44.480> par<00:20:44.919> with<00:20:45.080> Fiji 00:20:45.549 --> 00:20:45.559 align:start position:0% infrastructure would be on par with Fiji 00:20:45.559 --> 00:20:48.470 align:start position:0% infrastructure would be on par with Fiji and<00:20:45.679> swasiland<00:20:46.520> pretty<00:20:47.520> pretty<00:20:47.799> low<00:20:48.159> down<00:20:48.320> the 00:20:48.470 --> 00:20:48.480 align:start position:0% and swasiland pretty pretty low down the 00:20:48.480 --> 00:20:50.510 align:start position:0% and swasiland pretty pretty low down the ranking<00:20:49.280> so<00:20:49.440> we<00:20:49.520> need<00:20:49.679> to<00:20:49.799> do 00:20:50.510 --> 00:20:50.520 align:start position:0% ranking so we need to do 00:20:50.520 --> 00:20:52.549 align:start position:0% ranking so we need to do better 00:20:52.549 --> 00:20:52.559 align:start position:0% better 00:20:52.559 --> 00:20:55.470 align:start position:0% better um<00:20:53.559> we<00:20:53.720> at<00:20:53.880> open<00:20:54.080> source<00:20:54.320> Observer<00:20:55.120> um<00:20:55.280> are 00:20:55.470 --> 00:20:55.480 align:start position:0% um we at open source Observer um are 00:20:55.480 --> 00:20:57.310 align:start position:0% um we at open source Observer um are very<00:20:55.760> excited<00:20:56.080> to<00:20:56.159> work<00:20:56.280> on<00:20:56.440> this<00:20:56.640> problem 00:20:57.310 --> 00:20:57.320 align:start position:0% very excited to work on this problem 00:20:57.320 --> 00:20:59.549 align:start position:0% very excited to work on this problem we're<00:20:57.600> hoping<00:20:58.000> to<00:20:58.640> attract<00:20:59.080> more<00:20:59.320> data 00:20:59.549 --> 00:20:59.559 align:start position:0% we're hoping to attract more data 00:20:59.559 --> 00:21:01.630 align:start position:0% we're hoping to attract more data scientists<00:21:00.480> to<00:21:00.720> care<00:21:01.200> about<00:21:01.520> the 00:21:01.630 --> 00:21:01.640 align:start position:0% scientists to care about the 00:21:01.640 --> 00:21:04.990 align:start position:0% scientists to care about the intersection<00:21:02.440> of<00:21:02.640> public<00:21:02.960> goods<00:21:03.720> and<00:21:04.039> impact 00:21:04.990 --> 00:21:05.000 align:start position:0% intersection of public goods and impact 00:21:05.000 --> 00:21:07.149 align:start position:0% intersection of public goods and impact and<00:21:05.280> data<00:21:05.600> science<00:21:06.320> and<00:21:06.440> if<00:21:06.600> that<00:21:06.720> speaks<00:21:07.000> to 00:21:07.149 --> 00:21:07.159 align:start position:0% and data science and if that speaks to 00:21:07.159 --> 00:21:08.630 align:start position:0% and data science and if that speaks to you<00:21:07.440> we'd<00:21:07.640> love<00:21:07.760> to<00:21:07.880> hear<00:21:08.039> from<00:21:08.200> you<00:21:08.440> you<00:21:08.520> can 00:21:08.630 --> 00:21:08.640 align:start position:0% you we'd love to hear from you you can 00:21:08.640 --> 00:21:11.390 align:start position:0% you we'd love to hear from you you can scan<00:21:08.880> the<00:21:09.000> QR<00:21:09.320> code<00:21:09.840> to<00:21:10.000> get<00:21:10.159> in<00:21:10.320> touch<00:21:11.039> um<00:21:11.200> join 00:21:11.390 --> 00:21:11.400 align:start position:0% scan the QR code to get in touch um join 00:21:11.400 --> 00:21:13.630 align:start position:0% scan the QR code to get in touch um join our<00:21:11.640> Discord<00:21:12.640> and<00:21:12.760> for<00:21:12.919> any<00:21:13.039> builders<00:21:13.360> that<00:21:13.520> in 00:21:13.630 --> 00:21:13.640 align:start position:0% our Discord and for any builders that in 00:21:13.640 --> 00:21:15.830 align:start position:0% our Discord and for any builders that in the<00:21:13.760> room<00:21:14.400> optimism<00:21:14.840> is<00:21:15.000> having<00:21:15.279> a<00:21:15.480> seventh 00:21:15.830 --> 00:21:15.840 align:start position:0% the room optimism is having a seventh 00:21:15.840 --> 00:21:17.950 align:start position:0% the room optimism is having a seventh round<00:21:16.039> of<00:21:16.159> retr<00:21:16.440> funding<00:21:16.880> it'll<00:21:17.080> be<00:21:17.200> starting 00:21:17.950 --> 00:21:17.960 align:start position:0% round of retr funding it'll be starting 00:21:17.960 --> 00:21:20.269 align:start position:0% round of retr funding it'll be starting hopefully<00:21:18.720> um<00:21:19.000> before<00:21:19.200> the<00:21:19.320> end<00:21:19.440> of<00:21:19.559> the<00:21:19.720> year 00:21:20.269 --> 00:21:20.279 align:start position:0% hopefully um before the end of the year 00:21:20.279 --> 00:21:23.190 align:start position:0% hopefully um before the end of the year you<00:21:20.400> can<00:21:20.600> go<00:21:20.760> to<00:21:21.120> retrun<00:21:21.960> optimism.<00:21:22.960> get<00:21:23.080> all 00:21:23.190 --> 00:21:23.200 align:start position:0% you can go to retrun optimism. get all 00:21:23.200 --> 00:21:25.230 align:start position:0% you can go to retrun optimism. get all the<00:21:23.320> details<00:21:23.760> there<00:21:24.039> and<00:21:24.200> sign<00:21:24.440> up<00:21:24.919> thank<00:21:25.080> you 00:21:25.230 --> 00:21:25.240 align:start position:0% the details there and sign up thank you 00:21:25.240 --> 00:21:32.310 align:start position:0% the details there and sign up thank you very<00:21:25.400> much 00:21:32.310 --> 00:21:32.320 align:start position:0% 00:21:32.320 --> 00:21:34.669 align:start position:0% awesome<00:21:32.760> Carl<00:21:33.039> so<00:21:33.200> you<00:21:33.360> know<00:21:34.039> next<00:21:34.320> retr 00:21:34.669 --> 00:21:34.679 align:start position:0% awesome Carl so you know next retr 00:21:34.679 --> 00:21:38.710 align:start position:0% awesome Carl so you know next retr funding<00:21:35.240> it's<00:21:35.520> coming<00:21:36.279> close<00:21:37.039> so<00:21:37.679> take<00:21:37.919> the 00:21:38.710 --> 00:21:38.720 align:start position:0% funding it's coming close so take the 00:21:38.720 --> 00:21:41.630 align:start position:0% funding it's coming close so take the opportunity<00:21:39.720> questions<00:21:40.720> that<00:21:40.840> you<00:21:41.039> have<00:21:41.240> for 00:21:41.630 --> 00:21:41.640 align:start position:0% opportunity questions that you have for 00:21:41.640 --> 00:21:44.549 align:start position:0% opportunity questions that you have for Carl<00:21:42.400> let's<00:21:42.720> start<00:21:43.120> that<00:21:43.320> way<00:21:43.679> meanwhile 00:21:44.549 --> 00:21:44.559 align:start position:0% Carl let's start that way meanwhile 00:21:44.559 --> 00:21:47.750 align:start position:0% Carl let's start that way meanwhile please<00:21:45.200> use<00:21:45.480> the<00:21:45.679> QR<00:21:46.120> code<00:21:46.720> to<00:21:46.960> place<00:21:47.240> your 00:21:47.750 --> 00:21:47.760 align:start position:0% please use the QR code to place your 00:21:47.760 --> 00:21:52.350 align:start position:0% please use the QR code to place your questions<00:21:48.760> uh<00:21:49.120> to<00:21:49.440> e<00:21:50.360> so<00:21:50.720> go<00:21:50.880> ahead<00:21:51.480> hi<00:21:51.640> Carl 00:21:52.350 --> 00:21:52.360 align:start position:0% questions uh to e so go ahead hi Carl 00:21:52.360 --> 00:21:55.149 align:start position:0% questions uh to e so go ahead hi Carl Thomas<00:21:52.760> here<00:21:53.600> hey<00:21:54.600> uh<00:21:54.720> thanks<00:21:54.919> for<00:21:55.039> the 00:21:55.149 --> 00:21:55.159 align:start position:0% Thomas here hey uh thanks for the 00:21:55.159 --> 00:21:56.750 align:start position:0% Thomas here hey uh thanks for the presentation<00:21:55.919> I'm<00:21:56.120> uh<00:21:56.240> just<00:21:56.320> want<00:21:56.400> to<00:21:56.559> say 00:21:56.750 --> 00:21:56.760 align:start position:0% presentation I'm uh just want to say 00:21:56.760 --> 00:21:58.269 align:start position:0% presentation I'm uh just want to say first<00:21:56.919> of<00:21:57.039> all<00:21:57.200> I'm<00:21:57.279> a<00:21:57.440> huge<00:21:57.720> advocate<00:21:58.080> for 00:21:58.269 --> 00:21:58.279 align:start position:0% first of all I'm a huge advocate for 00:21:58.279 --> 00:22:00.549 align:start position:0% first of all I'm a huge advocate for open<00:21:58.720> s<00:21:58.919> so<00:21:59.120> far<00:21:59.320> I<00:21:59.520> use<00:21:59.720> it<00:21:59.880> all<00:22:00.039> the<00:22:00.159> time<00:22:00.440> my 00:22:00.549 --> 00:22:00.559 align:start position:0% open s so far I use it all the time my 00:22:00.559 --> 00:22:02.390 align:start position:0% open s so far I use it all the time my day-to-day<00:22:01.039> activities<00:22:01.520> always<00:22:02.159> always 00:22:02.390 --> 00:22:02.400 align:start position:0% day-to-day activities always always 00:22:02.400 --> 00:22:04.110 align:start position:0% day-to-day activities always always using<00:22:02.640> libraries<00:22:03.120> Frameworks<00:22:03.640> which<00:22:03.799> are<00:22:04.039> you 00:22:04.110 --> 00:22:04.120 align:start position:0% using libraries Frameworks which are you 00:22:04.120 --> 00:22:05.710 align:start position:0% using libraries Frameworks which are you don't<00:22:04.320> even<00:22:04.480> know<00:22:04.640> how<00:22:04.760> open<00:22:04.960> source<00:22:05.240> but<00:22:05.440> are 00:22:05.710 --> 00:22:05.720 align:start position:0% don't even know how open source but are 00:22:05.720 --> 00:22:08.830 align:start position:0% don't even know how open source but are right<00:22:06.520> um<00:22:07.240> so<00:22:07.559> I<00:22:07.640> wanted<00:22:07.840> to<00:22:08.000> go<00:22:08.200> back<00:22:08.360> on<00:22:08.640> two 00:22:08.830 --> 00:22:08.840 align:start position:0% right um so I wanted to go back on two 00:22:08.840 --> 00:22:11.190 align:start position:0% right um so I wanted to go back on two slides<00:22:09.159> that<00:22:09.279> you<00:22:09.440> had<00:22:09.919> uh<00:22:10.080> previously<00:22:10.640> me 00:22:11.190 --> 00:22:11.200 align:start position:0% slides that you had uh previously me 00:22:11.200 --> 00:22:12.909 align:start position:0% slides that you had uh previously me mentioned<00:22:11.960> um<00:22:12.120> one<00:22:12.240> of<00:22:12.320> them<00:22:12.440> was<00:22:12.600> around<00:22:12.799> the 00:22:12.909 --> 00:22:12.919 align:start position:0% mentioned um one of them was around the 00:22:12.919 --> 00:22:14.870 align:start position:0% mentioned um one of them was around the development<00:22:13.320> onchain<00:22:13.799> activity<00:22:14.679> you<00:22:14.760> don't 00:22:14.870 --> 00:22:14.880 align:start position:0% development onchain activity you don't 00:22:14.880 --> 00:22:17.909 align:start position:0% development onchain activity you don't have<00:22:15.000> to<00:22:15.080> go<00:22:15.240> back<00:22:15.400> but<00:22:15.520> it's<00:22:15.679> fine<00:22:16.679> um<00:22:17.679> I<00:22:17.760> was 00:22:17.909 --> 00:22:17.919 align:start position:0% have to go back but it's fine um I was 00:22:17.919 --> 00:22:19.870 align:start position:0% have to go back but it's fine um I was wondering<00:22:18.520> would<00:22:18.720> you<00:22:19.200> I<00:22:19.320> I<00:22:19.400> know<00:22:19.559> you<00:22:19.679> said 00:22:19.870 --> 00:22:19.880 align:start position:0% wondering would you I I know you said 00:22:19.880 --> 00:22:21.350 align:start position:0% wondering would you I I know you said there<00:22:20.000> were<00:22:20.120> a<00:22:20.240> handful<00:22:20.559> of<00:22:20.679> other<00:22:20.880> metrics 00:22:21.350 --> 00:22:21.360 align:start position:0% there were a handful of other metrics 00:22:21.360 --> 00:22:23.590 align:start position:0% there were a handful of other metrics while<00:22:21.520> you<00:22:21.600> were<00:22:21.760> speaking<00:22:22.320> but<00:22:22.559> you<00:22:23.400> um 00:22:23.590 --> 00:22:23.600 align:start position:0% while you were speaking but you um 00:22:23.600 --> 00:22:25.990 align:start position:0% while you were speaking but you um outline<00:22:24.080> these<00:22:24.240> two<00:22:24.919> wondering<00:22:25.720> would<00:22:25.880> you 00:22:25.990 --> 00:22:26.000 align:start position:0% outline these two wondering would you 00:22:26.000 --> 00:22:27.310 align:start position:0% outline these two wondering would you say<00:22:26.159> these<00:22:26.279> are<00:22:26.440> the<00:22:26.520> most<00:22:26.679> important<00:22:27.000> metrics 00:22:27.310 --> 00:22:27.320 align:start position:0% say these are the most important metrics 00:22:27.320 --> 00:22:29.350 align:start position:0% say these are the most important metrics for<00:22:27.640> measuring<00:22:28.000> an<00:22:28.120> inval<00:22:28.720> evaluating<00:22:29.240> the 00:22:29.350 --> 00:22:29.360 align:start position:0% for measuring an inval evaluating the 00:22:29.360 --> 00:22:30.870 align:start position:0% for measuring an inval evaluating the impact<00:22:29.640> of<00:22:29.720> funded 00:22:30.870 --> 00:22:30.880 align:start position:0% impact of funded 00:22:30.880 --> 00:22:33.350 align:start position:0% impact of funded projects<00:22:31.880> um<00:22:32.240> no<00:22:32.600> I<00:22:32.679> would<00:22:32.840> say<00:22:32.960> that<00:22:33.080> they<00:22:33.159> are 00:22:33.350 --> 00:22:33.360 align:start position:0% projects um no I would say that they are 00:22:33.360 --> 00:22:35.909 align:start position:0% projects um no I would say that they are good<00:22:33.559> trailing<00:22:34.000> metrics<00:22:34.640> so<00:22:34.880> ideally<00:22:35.520> if<00:22:35.640> you 00:22:35.909 --> 00:22:35.919 align:start position:0% good trailing metrics so ideally if you 00:22:35.919 --> 00:22:37.470 align:start position:0% good trailing metrics so ideally if you have<00:22:36.480> if<00:22:36.559> you're<00:22:36.679> doing<00:22:36.840> other<00:22:37.039> things<00:22:37.240> well 00:22:37.470 --> 00:22:37.480 align:start position:0% have if you're doing other things well 00:22:37.480 --> 00:22:38.830 align:start position:0% have if you're doing other things well then<00:22:37.600> you'll<00:22:37.799> get<00:22:37.919> more<00:22:38.039> developers<00:22:38.600> you<00:22:38.679> will 00:22:38.830 --> 00:22:38.840 align:start position:0% then you'll get more developers you will 00:22:38.840 --> 00:22:40.230 align:start position:0% then you'll get more developers you will get<00:22:38.960> more<00:22:39.120> transactions<00:22:39.720> you'll<00:22:39.960> get<00:22:40.080> more 00:22:40.230 --> 00:22:40.240 align:start position:0% get more transactions you'll get more 00:22:40.240 --> 00:22:42.430 align:start position:0% get more transactions you'll get more users<00:22:40.840> but<00:22:41.679> uh<00:22:41.799> you<00:22:41.960> probably<00:22:42.120> don't<00:22:42.240> want<00:22:42.320> to 00:22:42.430 --> 00:22:42.440 align:start position:0% users but uh you probably don't want to 00:22:42.440 --> 00:22:44.149 align:start position:0% users but uh you probably don't want to fund<00:22:42.679> these<00:22:42.840> things<00:22:43.080> directly<00:22:43.840> if<00:22:43.919> you<00:22:44.000> were 00:22:44.149 --> 00:22:44.159 align:start position:0% fund these things directly if you were 00:22:44.159 --> 00:22:45.950 align:start position:0% fund these things directly if you were to<00:22:44.320> just<00:22:44.520> fund<00:22:45.000> People<00:22:45.279> based<00:22:45.480> on<00:22:45.559> the<00:22:45.679> size<00:22:45.840> of 00:22:45.950 --> 00:22:45.960 align:start position:0% to just fund People based on the size of 00:22:45.960 --> 00:22:47.870 align:start position:0% to just fund People based on the size of their<00:22:46.080> team<00:22:46.480> then<00:22:46.600> you<00:22:46.799> get<00:22:47.000> very<00:22:47.200> big<00:22:47.480> bloated 00:22:47.870 --> 00:22:47.880 align:start position:0% their team then you get very big bloated 00:22:47.880 --> 00:22:49.190 align:start position:0% their team then you get very big bloated teams<00:22:48.200> you<00:22:48.320> wouldn't<00:22:48.600> actually<00:22:48.840> get<00:22:49.080> the 00:22:49.190 --> 00:22:49.200 align:start position:0% teams you wouldn't actually get the 00:22:49.200 --> 00:22:51.430 align:start position:0% teams you wouldn't actually get the impact<00:22:49.480> that<00:22:49.600> you<00:22:49.679> care<00:22:50.080> about<00:22:51.080> um<00:22:51.240> on<00:22:51.320> the 00:22:51.430 --> 00:22:51.440 align:start position:0% impact that you care about um on the 00:22:51.440 --> 00:22:53.149 align:start position:0% impact that you care about um on the other<00:22:51.559> hand<00:22:51.720> they<00:22:51.840> do<00:22:52.000> probably<00:22:52.240> correlate<00:22:53.000> in 00:22:53.149 --> 00:22:53.159 align:start position:0% other hand they do probably correlate in 00:22:53.159 --> 00:22:55.310 align:start position:0% other hand they do probably correlate in many<00:22:53.360> cases<00:22:53.760> with<00:22:53.960> like<00:22:54.279> at<00:22:54.360> a<00:22:54.480> high<00:22:54.640> level<00:22:55.200> the 00:22:55.310 --> 00:22:55.320 align:start position:0% many cases with like at a high level the 00:22:55.320 --> 00:22:58.710 align:start position:0% many cases with like at a high level the growth<00:22:55.559> of<00:22:55.640> an<00:22:56.159> ecosystem<00:22:57.159> um<00:22:57.440> so<00:22:58.240> we<00:22:58.559> don't 00:22:58.710 --> 00:22:58.720 align:start position:0% growth of an ecosystem um so we don't 00:22:58.720 --> 00:23:00.110 align:start position:0% growth of an ecosystem um so we don't really<00:22:58.919> I<00:22:59.039> I'm<00:22:59.159> not<00:22:59.279> in<00:22:59.360> a<00:22:59.520> position<00:22:59.760> to<00:22:59.880> say 00:23:00.110 --> 00:23:00.120 align:start position:0% really I I'm not in a position to say 00:23:00.120 --> 00:23:01.430 align:start position:0% really I I'm not in a position to say there's<00:23:00.440> there's<00:23:00.679> one<00:23:00.880> metric<00:23:01.200> where<00:23:01.360> you 00:23:01.430 --> 00:23:01.440 align:start position:0% there's there's one metric where you 00:23:01.440 --> 00:23:02.789 align:start position:0% there's there's one metric where you should<00:23:01.600> just<00:23:01.720> find<00:23:02.000> this<00:23:02.159> thing<00:23:02.400> and<00:23:02.480> I<00:23:02.600> think 00:23:02.789 --> 00:23:02.799 align:start position:0% should just find this thing and I think 00:23:02.799 --> 00:23:04.310 align:start position:0% should just find this thing and I think that's<00:23:03.080> that's<00:23:03.240> the<00:23:03.360> whole<00:23:03.520> point<00:23:03.919> is<00:23:04.039> that<00:23:04.159> we 00:23:04.310 --> 00:23:04.320 align:start position:0% that's that's the whole point is that we 00:23:04.320 --> 00:23:06.190 align:start position:0% that's that's the whole point is that we need<00:23:04.480> to<00:23:05.240> test<00:23:05.480> these<00:23:05.640> things<00:23:05.799> out<00:23:05.960> in<00:23:06.039> the 00:23:06.190 --> 00:23:06.200 align:start position:0% need to test these things out in the 00:23:06.200 --> 00:23:08.350 align:start position:0% need to test these things out in the wild<00:23:06.880> we<00:23:07.000> need<00:23:07.159> to<00:23:07.480> combine<00:23:07.919> them<00:23:08.200> in 00:23:08.350 --> 00:23:08.360 align:start position:0% wild we need to combine them in 00:23:08.360 --> 00:23:10.149 align:start position:0% wild we need to combine them in different<00:23:08.640> ways<00:23:09.440> and<00:23:09.559> then<00:23:09.720> I<00:23:09.799> think<00:23:09.960> over 00:23:10.149 --> 00:23:10.159 align:start position:0% different ways and then I think over 00:23:10.159 --> 00:23:12.029 align:start position:0% different ways and then I think over time<00:23:10.360> we'll<00:23:10.520> see<00:23:10.720> some<00:23:10.880> kind<00:23:11.000> of<00:23:11.320> composite 00:23:12.029 --> 00:23:12.039 align:start position:0% time we'll see some kind of composite 00:23:12.039 --> 00:23:13.870 align:start position:0% time we'll see some kind of composite set<00:23:12.200> of<00:23:12.400> metrics<00:23:13.200> some<00:23:13.400> which<00:23:13.520> are<00:23:13.679> really 00:23:13.870 --> 00:23:13.880 align:start position:0% set of metrics some which are really 00:23:13.880 --> 00:23:15.590 align:start position:0% set of metrics some which are really good<00:23:14.120> as<00:23:14.480> these<00:23:14.600> trailing<00:23:14.960> indicators<00:23:15.440> and 00:23:15.590 --> 00:23:15.600 align:start position:0% good as these trailing indicators and 00:23:15.600 --> 00:23:16.789 align:start position:0% good as these trailing indicators and some<00:23:15.840> which<00:23:16.039> could<00:23:16.240> actually<00:23:16.440> be<00:23:16.600> more 00:23:16.789 --> 00:23:16.799 align:start position:0% some which could actually be more 00:23:16.799 --> 00:23:19.750 align:start position:0% some which could actually be more predictive<00:23:17.360> of<00:23:17.520> a<00:23:17.679> future<00:23:18.200> success<00:23:19.200> yeah<00:23:19.559> big 00:23:19.750 --> 00:23:19.760 align:start position:0% predictive of a future success yeah big 00:23:19.760 --> 00:23:21.590 align:start position:0% predictive of a future success yeah big big<00:23:19.880> search<00:23:20.159> space<00:23:20.760> and<00:23:20.880> just<00:23:21.000> a<00:23:21.159> followup 00:23:21.590 --> 00:23:21.600 align:start position:0% big search space and just a followup 00:23:21.600 --> 00:23:23.510 align:start position:0% big search space and just a followup question<00:23:22.080> how<00:23:22.200> much<00:23:22.720> how<00:23:22.880> much<00:23:23.120> time<00:23:23.400> would 00:23:23.510 --> 00:23:23.520 align:start position:0% question how much how much time would 00:23:23.520 --> 00:23:25.310 align:start position:0% question how much how much time would you<00:23:23.640> reckon<00:23:23.919> that<00:23:24.120> would<00:23:24.600> you<00:23:24.720> would<00:23:24.880> need<00:23:25.080> for 00:23:25.310 --> 00:23:25.320 align:start position:0% you reckon that would you would need for 00:23:25.320 --> 00:23:28.070 align:start position:0% you reckon that would you would need for that<00:23:26.279> for<00:23:26.559> for<00:23:26.720> which<00:23:26.880> part<00:23:27.120> for<00:23:27.360> like<00:23:27.559> to<00:23:27.720> eval 00:23:28.070 --> 00:23:28.080 align:start position:0% that for for which part for like to eval 00:23:28.080 --> 00:23:29.590 align:start position:0% that for for which part for like to eval to<00:23:28.240> you<00:23:28.520> you<00:23:28.600> mentioned<00:23:28.880> you<00:23:28.960> need<00:23:29.279> like<00:23:29.400> your 00:23:29.590 --> 00:23:29.600 align:start position:0% to you you mentioned you need like your 00:23:29.600 --> 00:23:31.630 align:start position:0% to you you mentioned you need like your Gathering<00:23:29.919> data<00:23:30.120> and<00:23:30.279> your<00:23:30.600> your<00:23:31.120> to<00:23:31.320> make<00:23:31.480> an 00:23:31.630 --> 00:23:31.640 align:start position:0% Gathering data and your your to make an 00:23:31.640 --> 00:23:33.149 align:start position:0% Gathering data and your your to make an inform<00:23:31.960> well-informed<00:23:32.360> decision<00:23:32.799> how<00:23:33.080> how 00:23:33.149 --> 00:23:33.159 align:start position:0% inform well-informed decision how how 00:23:33.159 --> 00:23:34.310 align:start position:0% inform well-informed decision how how much<00:23:33.320> time<00:23:33.480> do<00:23:33.559> you<00:23:33.640> need<00:23:33.799> to<00:23:33.919> make<00:23:34.080> that 00:23:34.310 --> 00:23:34.320 align:start position:0% much time do you need to make that 00:23:34.320 --> 00:23:36.390 align:start position:0% much time do you need to make that decision<00:23:35.320> um<00:23:35.480> we<00:23:35.559> see<00:23:35.799> this<00:23:35.960> much<00:23:36.080> more<00:23:36.240> as 00:23:36.390 --> 00:23:36.400 align:start position:0% decision um we see this much more as 00:23:36.400 --> 00:23:39.669 align:start position:0% decision um we see this much more as like<00:23:36.640> a<00:23:37.279> community<00:23:38.279> uh<00:23:39.080> a<00:23:39.159> challenge<00:23:39.440> for<00:23:39.559> the 00:23:39.669 --> 00:23:39.679 align:start position:0% like a community uh a challenge for the 00:23:39.679 --> 00:23:41.310 align:start position:0% like a community uh a challenge for the community<00:23:40.279> so<00:23:40.600> we<00:23:40.720> can<00:23:40.880> definitely<00:23:41.120> come<00:23:41.240> up 00:23:41.310 --> 00:23:41.320 align:start position:0% community so we can definitely come up 00:23:41.320 --> 00:23:43.549 align:start position:0% community so we can definitely come up with<00:23:41.440> metrics<00:23:41.760> ourself<00:23:42.760> but<00:23:42.919> increasingly<00:23:43.440> we 00:23:43.549 --> 00:23:43.559 align:start position:0% with metrics ourself but increasingly we 00:23:43.559 --> 00:23:46.230 align:start position:0% with metrics ourself but increasingly we want<00:23:43.720> to<00:23:43.880> partner<00:23:44.320> with<00:23:44.840> with<00:23:45.000> data<00:23:45.279> teams<00:23:46.039> um 00:23:46.230 --> 00:23:46.240 align:start position:0% want to partner with with data teams um 00:23:46.240 --> 00:23:47.630 align:start position:0% want to partner with with data teams um you<00:23:46.360> know<00:23:46.520> projects<00:23:46.960> themselves<00:23:47.240> people<00:23:47.440> that 00:23:47.630 --> 00:23:47.640 align:start position:0% you know projects themselves people that 00:23:47.640 --> 00:23:49.029 align:start position:0% you know projects themselves people that have<00:23:47.880> an<00:23:48.039> intuition<00:23:48.440> about<00:23:48.600> what<00:23:48.720> metrics 00:23:49.029 --> 00:23:49.039 align:start position:0% have an intuition about what metrics 00:23:49.039 --> 00:23:51.310 align:start position:0% have an intuition about what metrics they<00:23:49.120> think<00:23:49.240> are<00:23:49.400> most<00:23:49.559> useful<00:23:50.520> and<00:23:51.000> test 00:23:51.310 --> 00:23:51.320 align:start position:0% they think are most useful and test 00:23:51.320 --> 00:23:54.110 align:start position:0% they think are most useful and test those<00:23:51.480> out<00:23:52.480> experiment<00:23:52.919> with<00:23:53.039> them<00:23:53.520> and<00:23:54.000> you 00:23:54.110 --> 00:23:54.120 align:start position:0% those out experiment with them and you 00:23:54.120 --> 00:23:55.310 align:start position:0% those out experiment with them and you know<00:23:54.360> everything<00:23:54.720> all<00:23:54.880> the<00:23:54.960> metrics<00:23:55.240> that 00:23:55.310 --> 00:23:55.320 align:start position:0% know everything all the metrics that 00:23:55.320 --> 00:23:56.710 align:start position:0% know everything all the metrics that we're<00:23:55.440> building<00:23:55.720> are<00:23:55.919> are<00:23:56.039> fully<00:23:56.320> open<00:23:56.559> so 00:23:56.710 --> 00:23:56.720 align:start position:0% we're building are are fully open so 00:23:56.720 --> 00:23:58.029 align:start position:0% we're building are are fully open so people<00:23:56.919> can<00:23:57.080> come<00:23:57.279> and<00:23:57.400> and<00:23:57.520> test<00:23:57.720> them<00:23:57.840> out 00:23:58.029 --> 00:23:58.039 align:start position:0% people can come and and test them out 00:23:58.039 --> 00:24:01.870 align:start position:0% people can come and and test them out directly<00:23:58.880> directly<00:23:59.880> thank<00:24:00.039> you 00:24:01.870 --> 00:24:01.880 align:start position:0% directly directly thank you 00:24:01.880 --> 00:24:05.350 align:start position:0% directly directly thank you yeah<00:24:02.880> now<00:24:03.039> we<00:24:03.200> have<00:24:03.440> some<00:24:03.840> questions<00:24:04.360> here<00:24:05.159> one 00:24:05.350 --> 00:24:05.360 align:start position:0% yeah now we have some questions here one 00:24:05.360 --> 00:24:07.830 align:start position:0% yeah now we have some questions here one is<00:24:05.799> what<00:24:05.960> if<00:24:06.360> what<00:24:06.640> are<00:24:06.919> the<00:24:07.159> opportunities 00:24:07.830 --> 00:24:07.840 align:start position:0% is what if what are the opportunities 00:24:07.840 --> 00:24:09.830 align:start position:0% is what if what are the opportunities for<00:24:08.120> data<00:24:08.520> scientists<00:24:09.000> to<00:24:09.159> get 00:24:09.830 --> 00:24:09.840 align:start position:0% for data scientists to get 00:24:09.840 --> 00:24:13.070 align:start position:0% for data scientists to get involved<00:24:10.840> yeah<00:24:11.080> so<00:24:11.679> um<00:24:11.840> scan<00:24:12.120> the<00:24:12.279> QR<00:24:12.600> code<00:24:12.960> we 00:24:13.070 --> 00:24:13.080 align:start position:0% involved yeah so um scan the QR code we 00:24:13.080 --> 00:24:14.470 align:start position:0% involved yeah so um scan the QR code we have<00:24:13.200> a<00:24:13.279> number<00:24:13.559> of<00:24:13.960> contribution 00:24:14.470 --> 00:24:14.480 align:start position:0% have a number of contribution 00:24:14.480 --> 00:24:16.190 align:start position:0% have a number of contribution opportunities<00:24:15.080> some<00:24:15.240> are<00:24:15.480> pretty<00:24:15.720> basic<00:24:16.080> just 00:24:16.190 --> 00:24:16.200 align:start position:0% opportunities some are pretty basic just 00:24:16.200 --> 00:24:19.390 align:start position:0% opportunities some are pretty basic just like<00:24:16.360> helping<00:24:16.760> add<00:24:17.120> update<00:24:17.840> um<00:24:18.039> process<00:24:18.440> data 00:24:19.390 --> 00:24:19.400 align:start position:0% like helping add update um process data 00:24:19.400 --> 00:24:20.510 align:start position:0% like helping add update um process data what<00:24:19.520> we're<00:24:19.679> really<00:24:19.840> looking<00:24:20.000> for<00:24:20.159> help<00:24:20.360> is 00:24:20.510 --> 00:24:20.520 align:start position:0% what we're really looking for help is 00:24:20.520 --> 00:24:22.510 align:start position:0% what we're really looking for help is people<00:24:20.760> that<00:24:20.960> have<00:24:21.159> the<00:24:21.279> ability<00:24:21.640> to<00:24:21.799> do<00:24:22.400> kind 00:24:22.510 --> 00:24:22.520 align:start position:0% people that have the ability to do kind 00:24:22.520 --> 00:24:24.710 align:start position:0% people that have the ability to do kind of<00:24:22.600> modeling<00:24:23.360> um<00:24:23.600> so<00:24:23.880> you<00:24:23.960> know<00:24:24.200> strong<00:24:24.400> python 00:24:24.710 --> 00:24:24.720 align:start position:0% of modeling um so you know strong python 00:24:24.720 --> 00:24:26.310 align:start position:0% of modeling um so you know strong python skills<00:24:25.080> they're<00:24:25.279> able<00:24:25.440> to<00:24:25.600> do<00:24:25.799> things<00:24:26.120> like 00:24:26.310 --> 00:24:26.320 align:start position:0% skills they're able to do things like 00:24:26.320 --> 00:24:28.430 align:start position:0% skills they're able to do things like the<00:24:26.480> the<00:24:26.559> causal<00:24:26.919> analysis<00:24:27.480> that<00:24:27.600> we<00:24:27.679> showed 00:24:28.430 --> 00:24:28.440 align:start position:0% the the causal analysis that we showed 00:24:28.440 --> 00:24:31.789 align:start position:0% the the causal analysis that we showed um<00:24:28.559> they're<00:24:28.720> able<00:24:28.880> to<00:24:29.320> process<00:24:30.320> uh<00:24:31.279> you<00:24:31.399> know 00:24:31.789 --> 00:24:31.799 align:start position:0% um they're able to process uh you know 00:24:31.799 --> 00:24:33.389 align:start position:0% um they're able to process uh you know help<00:24:32.000> help<00:24:32.159> us<00:24:32.279> connect<00:24:32.520> new<00:24:32.640> data<00:24:32.880> sets<00:24:33.200> and 00:24:33.389 --> 00:24:33.399 align:start position:0% help help us connect new data sets and 00:24:33.399 --> 00:24:34.950 align:start position:0% help help us connect new data sets and process<00:24:33.840> larger<00:24:34.080> and<00:24:34.240> larger<00:24:34.480> amounts<00:24:34.679> of 00:24:34.950 --> 00:24:34.960 align:start position:0% process larger and larger amounts of 00:24:34.960 --> 00:24:37.669 align:start position:0% process larger and larger amounts of data<00:24:35.960> um<00:24:36.159> anyone<00:24:36.600> who<00:24:36.880> has<00:24:37.120> the<00:24:37.240> ability<00:24:37.520> to 00:24:37.669 --> 00:24:37.679 align:start position:0% data um anyone who has the ability to 00:24:37.679 --> 00:24:39.430 align:start position:0% data um anyone who has the ability to kind<00:24:37.760> of<00:24:37.880> formulate<00:24:38.240> research<00:24:38.640> questions<00:24:39.320> and 00:24:39.430 --> 00:24:39.440 align:start position:0% kind of formulate research questions and 00:24:39.440 --> 00:24:41.269 align:start position:0% kind of formulate research questions and then<00:24:39.600> design<00:24:39.840> a<00:24:39.960> study<00:24:40.200> around<00:24:40.480> that<00:24:40.640> would<00:24:40.799> be 00:24:41.269 --> 00:24:41.279 align:start position:0% then design a study around that would be 00:24:41.279 --> 00:24:43.470 align:start position:0% then design a study around that would be super<00:24:41.640> welcome<00:24:42.640> um<00:24:42.760> but<00:24:42.919> also<00:24:43.159> people<00:24:43.320> that 00:24:43.470 --> 00:24:43.480 align:start position:0% super welcome um but also people that 00:24:43.480 --> 00:24:45.190 align:start position:0% super welcome um but also people that just<00:24:43.600> want<00:24:43.720> to<00:24:44.320> uh<00:24:44.559> you<00:24:44.640> know<00:24:44.760> create<00:24:45.000> front 00:24:45.190 --> 00:24:45.200 align:start position:0% just want to uh you know create front 00:24:45.200 --> 00:24:47.110 align:start position:0% just want to uh you know create front ends<00:24:45.480> and<00:24:45.640> dashboards<00:24:46.159> on<00:24:46.320> top<00:24:46.440> of<00:24:46.559> it<00:24:46.919> there's 00:24:47.110 --> 00:24:47.120 align:start position:0% ends and dashboards on top of it there's 00:24:47.120 --> 00:24:49.230 align:start position:0% ends and dashboards on top of it there's a<00:24:47.279> lot<00:24:47.600> of<00:24:47.840> of<00:24:47.960> cool<00:24:48.159> things<00:24:48.320> you<00:24:48.440> can 00:24:49.230 --> 00:24:49.240 align:start position:0% a lot of of cool things you can 00:24:49.240 --> 00:24:53.630 align:start position:0% a lot of of cool things you can do<00:24:50.240> great<00:24:50.880> awesome<00:24:51.880> and<00:24:52.080> for<00:24:52.520> for<00:24:52.720> how<00:24:52.960> long<00:24:53.240> is 00:24:53.630 --> 00:24:53.640 align:start position:0% do great awesome and for for how long is 00:24:53.640 --> 00:24:56.789 align:start position:0% do great awesome and for for how long is optimism<00:24:54.320> going<00:24:54.520> to<00:24:54.720> be<00:24:54.880> running<00:24:55.279> retro<00:24:55.840> PGA 00:24:56.789 --> 00:24:56.799 align:start position:0% optimism going to be running retro PGA 00:24:56.799 --> 00:24:59.630 align:start position:0% optimism going to be running retro PGA fronts<00:24:57.799> um<00:24:58.760> I<00:24:58.840> think<00:24:59.000> the<00:24:59.120> answer<00:24:59.320> is<00:24:59.440> probably 00:24:59.630 --> 00:24:59.640 align:start position:0% fronts um I think the answer is probably 00:24:59.640 --> 00:25:01.310 align:start position:0% fronts um I think the answer is probably forever<00:25:00.480> that<00:25:00.559> would<00:25:00.679> be<00:25:00.880> the<00:25:01.039> that<00:25:01.120> would<00:25:01.240> be 00:25:01.310 --> 00:25:01.320 align:start position:0% forever that would be the that would be 00:25:01.320 --> 00:25:04.310 align:start position:0% forever that would be the that would be the<00:25:01.480> goal<00:25:02.240> um<00:25:02.679> certainly<00:25:03.679> the<00:25:03.880> the<00:25:03.960> plan<00:25:04.200> is 00:25:04.310 --> 00:25:04.320 align:start position:0% the goal um certainly the the plan is 00:25:04.320 --> 00:25:06.029 align:start position:0% the goal um certainly the the plan is that<00:25:04.480> once<00:25:04.760> the<00:25:04.960> the<00:25:05.080> treasury<00:25:05.720> the<00:25:05.799> initial 00:25:06.029 --> 00:25:06.039 align:start position:0% that once the the treasury the initial 00:25:06.039 --> 00:25:07.190 align:start position:0% that once the the treasury the initial treasury<00:25:06.399> runs<00:25:06.640> out<00:25:06.799> that<00:25:06.919> there's<00:25:07.080> a 00:25:07.190 --> 00:25:07.200 align:start position:0% treasury runs out that there's a 00:25:07.200 --> 00:25:08.549 align:start position:0% treasury runs out that there's a continuous<00:25:07.600> source<00:25:07.840> of<00:25:07.960> funding<00:25:08.320> that<00:25:08.440> will 00:25:08.549 --> 00:25:08.559 align:start position:0% continuous source of funding that will 00:25:08.559 --> 00:25:10.149 align:start position:0% continuous source of funding that will come<00:25:08.720> in<00:25:08.919> from<00:25:09.120> sequencer<00:25:09.600> fees<00:25:09.880> or<00:25:10.000> from 00:25:10.149 --> 00:25:10.159 align:start position:0% come in from sequencer fees or from 00:25:10.159 --> 00:25:12.789 align:start position:0% come in from sequencer fees or from other<00:25:10.360> sources<00:25:10.720> of<00:25:10.919> of<00:25:11.039> onchain<00:25:11.600> Revenue<00:25:12.600> uh<00:25:12.720> I 00:25:12.789 --> 00:25:12.799 align:start position:0% other sources of of onchain Revenue uh I 00:25:12.799 --> 00:25:14.590 align:start position:0% other sources of of onchain Revenue uh I think<00:25:12.960> the<00:25:13.120> goal<00:25:13.600> eventually<00:25:14.200> is<00:25:14.399> that 00:25:14.590 --> 00:25:14.600 align:start position:0% think the goal eventually is that 00:25:14.600 --> 00:25:16.630 align:start position:0% think the goal eventually is that everything<00:25:15.240> that<00:25:15.360> is<00:25:15.679> happening<00:25:15.960> in<00:25:16.159> optimism 00:25:16.630 --> 00:25:16.640 align:start position:0% everything that is happening in optimism 00:25:16.640 --> 00:25:18.830 align:start position:0% everything that is happening in optimism gets<00:25:16.840> funded<00:25:17.120> by<00:25:17.200> retr<00:25:17.520> funding<00:25:18.480> whether<00:25:18.720> that 00:25:18.830 --> 00:25:18.840 align:start position:0% gets funded by retr funding whether that 00:25:18.840 --> 00:25:20.990 align:start position:0% gets funded by retr funding whether that takes<00:25:19.120> five<00:25:19.279> years<00:25:19.480> or<00:25:19.640> 10<00:25:19.880> years<00:25:20.640> remains<00:25:20.880> to 00:25:20.990 --> 00:25:21.000 align:start position:0% takes five years or 10 years remains to 00:25:21.000 --> 00:25:23.230 align:start position:0% takes five years or 10 years remains to be<00:25:21.120> seen<00:25:21.960> um<00:25:22.080> but<00:25:22.200> the<00:25:22.360> goal<00:25:22.559> is<00:25:22.640> that<00:25:22.799> this<00:25:22.919> is 00:25:23.230 --> 00:25:23.240 align:start position:0% be seen um but the goal is that this is 00:25:23.240 --> 00:25:25.389 align:start position:0% be seen um but the goal is that this is a<00:25:23.399> system<00:25:23.799> that<00:25:23.919> that<00:25:24.039> runs 00:25:25.389 --> 00:25:25.399 align:start position:0% a system that that runs 00:25:25.399 --> 00:25:27.990 align:start position:0% a system that that runs forever<00:25:26.399> awesome<00:25:26.840> Carl<00:25:27.240> appreciate<00:25:27.679> it<00:25:27.880> and 00:25:27.990 --> 00:25:28.000 align:start position:0% forever awesome Carl appreciate it and 00:25:28.000 --> 00:25:29.549 align:start position:0% forever awesome Carl appreciate it and appre<00:25:28.320> appreciate<00:25:28.679> all<00:25:28.799> the<00:25:28.960> questions<00:25:29.360> you 00:25:29.549 --> 00:25:29.559 align:start position:0% appre appreciate all the questions you 00:25:29.559 --> 00:25:32.950 align:start position:0% appre appreciate all the questions you have<00:25:30.039> we<00:25:30.240> just<00:25:30.600> run<00:25:31.159> out<00:25:31.360> of<00:25:31.640> time<00:25:31.880> so<00:25:32.120> please 00:25:32.950 --> 00:25:32.960 align:start position:0% have we just run out of time so please 00:25:32.960 --> 00:25:36.750 align:start position:0% have we just run out of time so please give<00:25:33.679> a<00:25:34.200> great<00:25:34.520> Applause<00:25:34.960> to<00:25:35.480> Carl<00:25:36.480> thank<00:25:36.640> you 00:25:36.750 --> 00:25:36.760 align:start position:0% give a great Applause to Carl thank you 00:25:36.760 --> 00:25:38.110 align:start position:0% give a great Applause to Carl thank you everyone<00:25:37.279> and 00:25:38.110 --> 00:25:38.120 align:start position:0% everyone and 00:25:38.120 --> 00:25:41.850 align:start position:0% everyone and optimism<00:25:39.120> thank<00:25:39.240> you<00:25:39.399> so<00:25:39.600> much 00:25:41.850 --> 00:25:41.860 align:start position:0% optimism thank you so much 00:25:41.860 --> 00:25:44.470 align:start position:0% optimism thank you so much [Music]