WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:13.800 align:start position:0% [Applause] 00:00:13.800 --> 00:00:13.810 align:start position:0% 00:00:13.810 --> 00:00:18.150 align:start position:0% minutes<00:00:14.740> research<00:00:15.640> lead<00:00:15.910> at<00:00:16.330> the<00:00:16.660> graph<00:00:17.160> today 00:00:18.150 --> 00:00:18.160 align:start position:0% minutes research lead at the graph today 00:00:18.160 --> 00:00:19.560 align:start position:0% minutes research lead at the graph today I'm<00:00:18.279> talking<00:00:18.550> about<00:00:18.730> any<00:00:19.119> planned 00:00:19.560 --> 00:00:19.570 align:start position:0% I'm talking about any planned 00:00:19.570 --> 00:00:23.690 align:start position:0% I'm talking about any planned obsolescence<00:00:20.110> in<00:00:20.740> tech<00:00:22.200> one<00:00:23.200> thing<00:00:23.320> that<00:00:23.439> I 00:00:23.690 --> 00:00:23.700 align:start position:0% obsolescence in tech one thing that I 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blockchain<00:00:29.640> decentralisation 00:00:30.630 --> 00:00:30.640 align:start position:0% makes blockchain decentralisation 00:00:30.640 --> 00:00:33.990 align:start position:0% makes blockchain decentralisation exciting<00:00:31.559> and<00:00:32.559> for<00:00:32.860> me<00:00:32.949> what<00:00:33.400> really<00:00:33.790> counts 00:00:33.990 --> 00:00:34.000 align:start position:0% exciting and for me what really counts 00:00:34.000 --> 00:00:35.700 align:start position:0% exciting and for me what really counts of<00:00:34.239> my<00:00:34.330> imagination<00:00:34.780> for<00:00:35.080> the<00:00:35.199> first<00:00:35.440> time 00:00:35.700 --> 00:00:35.710 align:start position:0% of my imagination for the first time 00:00:35.710 --> 00:00:38.189 align:start position:0% of my imagination for the first time what's<00:00:36.640> this<00:00:36.820> quote<00:00:37.150> from<00:00:37.480> the<00:00:37.809> original 00:00:38.189 --> 00:00:38.199 align:start position:0% what's this quote from the original 00:00:38.199 --> 00:00:41.660 align:start position:0% what's this quote from the original theorem<00:00:38.530> our<00:00:38.710> website<00:00:39.309> this<00:00:39.910> idea<00:00:40.330> building 00:00:41.660 --> 00:00:41.670 align:start position:0% theorem our website this idea building 00:00:41.670 --> 00:00:44.520 align:start position:0% theorem our website this idea building unstoppable<00:00:42.670> applications<00:00:43.300> not<00:00:44.230> as 00:00:44.520 --> 00:00:44.530 align:start position:0% unstoppable applications not as 00:00:44.530 --> 00:00:46.229 align:start position:0% unstoppable applications not as fascinated<00:00:45.040> me<00:00:45.160> because<00:00:45.190> this<00:00:45.880> is<00:00:45.940> not 00:00:46.229 --> 00:00:46.239 align:start position:0% fascinated me because this is not 00:00:46.239 --> 00:00:47.340 align:start position:0% fascinated me because this is not something<00:00:46.630> that<00:00:46.660> we<00:00:46.870> were<00:00:46.930> used<00:00:47.110> to<00:00:47.170> thinking 00:00:47.340 --> 00:00:47.350 align:start position:0% something that we were used to thinking 00:00:47.350 --> 00:00:49.440 align:start position:0% something that we were used to thinking about<00:00:47.710> the<00:00:47.950> real<00:00:48.100> world<00:00:48.309> right<00:00:48.610> this<00:00:48.970> is<00:00:49.149> kind 00:00:49.440 --> 00:00:49.450 align:start position:0% about the real world right this is kind 00:00:49.450 --> 00:00:52.290 align:start position:0% about the real world right this is kind of<00:00:49.480> the<00:00:49.630> stuff<00:00:50.290> of<00:00:50.500> fantasy<00:00:51.280> right<00:00:51.880> like<00:00:52.090> so 00:00:52.290 --> 00:00:52.300 align:start position:0% of the stuff of fantasy right like so 00:00:52.300 --> 00:00:53.819 align:start position:0% of the stuff of fantasy right like so that<00:00:52.540> the<00:00:52.660> world<00:00:52.899> scored<00:00:53.230> you<00:00:53.500> know<00:00:53.620> that<00:00:53.739> you 00:00:53.819 --> 00:00:53.829 align:start position:0% that the world scored you know that you 00:00:53.829 --> 00:00:55.790 align:start position:0% that the world scored you know that you read<00:00:53.980> about<00:00:54.010> that<00:00:54.850> you<00:00:55.030> know<00:00:55.149> lasts<00:00:55.540> forever 00:00:55.790 --> 00:00:55.800 align:start position:0% read about that you know lasts forever 00:00:55.800 --> 00:00:58.889 align:start position:0% read about that you know lasts forever but<00:00:56.800> in<00:00:57.399> the<00:00:57.579> physical<00:00:58.000> world<00:00:58.239> we<00:00:58.690> deal<00:00:58.870> with 00:00:58.889 --> 00:00:58.899 align:start position:0% but in the physical world we deal with 00:00:58.899 --> 00:01:01.410 align:start position:0% but in the physical world we deal with the<00:00:59.770> second<00:01:00.250> law<00:01:00.370> of<00:01:00.399> thermodynamics<00:01:00.730> right 00:01:01.410 --> 00:01:01.420 align:start position:0% the second law of thermodynamics right 00:01:01.420 --> 00:01:03.180 align:start position:0% the second law of thermodynamics right that<00:01:01.600> entropy<00:01:01.899> is<00:01:02.079> always<00:01:02.440> increasing<00:01:02.710> and 00:01:03.180 --> 00:01:03.190 align:start position:0% that entropy is always increasing and 00:01:03.190 --> 00:01:05.639 align:start position:0% that entropy is always increasing and you<00:01:03.940> kind<00:01:04.149> of<00:01:04.180> come<00:01:04.330> to<00:01:04.660> expect<00:01:05.020> that<00:01:05.140> physical 00:01:05.639 --> 00:01:05.649 align:start position:0% you kind of come to expect that physical 00:01:05.649 --> 00:01:07.499 align:start position:0% you kind of come to expect that physical products<00:01:06.009> will<00:01:06.310> you<00:01:06.550> know<00:01:06.670> fail<00:01:06.940> and<00:01:07.210> degrade 00:01:07.499 --> 00:01:07.509 align:start position:0% products will you know fail and degrade 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information<00:01:19.000> products<00:01:19.420> so<00:01:20.020> things<00:01:20.229> like 00:01:20.430 --> 00:01:20.440 align:start position:0% information products so things like 00:01:20.440 --> 00:01:27.330 align:start position:0% information products so things like books<00:01:21.780> music<00:01:22.780> movies<00:01:25.530> and<00:01:26.530> their<00:01:27.130> physical 00:01:27.330 --> 00:01:27.340 align:start position:0% books music movies and their physical 00:01:27.340 --> 00:01:29.789 align:start position:0% books music movies and their physical form<00:01:27.700> right<00:01:27.909> pages<00:01:28.510> on<00:01:28.750> the<00:01:28.810> book<00:01:28.960> will<00:01:29.680> be 00:01:29.789 --> 00:01:29.799 align:start position:0% form right pages on the book will be 00:01:29.799 --> 00:01:32.820 align:start position:0% form right pages on the book will be great<00:01:30.010> but<00:01:30.280> there<00:01:30.580> is<00:01:30.700> no<00:01:31.299> pure<00:01:31.600> essence<00:01:32.560> you 00:01:32.820 --> 00:01:32.830 align:start position:0% great but there is no pure essence you 00:01:32.830 --> 00:01:34.580 align:start position:0% great but there is no pure essence you know<00:01:32.860> these<00:01:33.100> things<00:01:33.310> are<00:01:33.490> just<00:01:33.640> information 00:01:34.580 --> 00:01:34.590 align:start position:0% know these things are just information 00:01:34.590 --> 00:01:37.010 align:start position:0% know these things are just information information<00:01:35.590> doesn't<00:01:35.740> have<00:01:36.010> any<00:01:36.340> intrinsic 00:01:37.010 --> 00:01:37.020 align:start position:0% information doesn't have any intrinsic 00:01:37.020 --> 00:01:39.630 align:start position:0% information doesn't have any intrinsic expiration<00:01:38.020> date<00:01:38.200> right<00:01:38.530> like<00:01:38.799> maybe<00:01:39.369> the 00:01:39.630 --> 00:01:39.640 align:start position:0% expiration date right like maybe the 00:01:39.640 --> 00:01:41.910 align:start position:0% expiration date right like maybe the hard<00:01:39.850> time<00:01:40.060> of<00:01:40.180> that<00:01:40.330> sometimes<00:01:40.720> on<00:01:40.900> will<00:01:41.650> fail 00:01:41.910 --> 00:01:41.920 align:start position:0% hard time of that sometimes on will fail 00:01:41.920 --> 00:01:44.340 align:start position:0% hard time of that sometimes on will fail but<00:01:42.280> you<00:01:42.580> know<00:01:42.970> the<00:01:43.060> information<00:01:43.509> itself<00:01:43.810> you 00:01:44.340 --> 00:01:44.350 align:start position:0% but you know the information itself you 00:01:44.350 --> 00:01:46.020 align:start position:0% but you know the information itself you know<00:01:44.470> just<00:01:44.710> requires<00:01:45.070> that<00:01:45.369> you<00:01:45.549> know<00:01:45.580> medium 00:01:46.020 --> 00:01:46.030 align:start position:0% know just requires that you know medium 00:01:46.030 --> 00:01:48.110 align:start position:0% know just requires that you know medium you<00:01:46.210> play<00:01:46.420> through 00:01:48.110 --> 00:01:48.120 align:start position:0% you play through 00:01:48.120 --> 00:01:51.140 align:start position:0% you play through it<00:01:48.210> should<00:01:48.420> last<00:01:48.600> forever<00:01:49.640> now<00:01:50.640> the<00:01:50.700> type<00:01:51.120> of 00:01:51.140 --> 00:01:51.150 align:start position:0% it should last forever now the type of 00:01:51.150 --> 00:01:54.530 align:start position:0% it should last forever now the type of information<00:01:51.390> product<00:01:51.990> that<00:01:52.080> without<00:01:52.380> that<00:01:53.540> we 00:01:54.530 --> 00:01:54.540 align:start position:0% information product that without that we 00:01:54.540 --> 00:01:56.060 align:start position:0% information product that without that we don't<00:01:54.720> come<00:01:55.020> to<00:01:55.140> a<00:01:55.230> site<00:01:55.410> this<00:01:55.590> property<00:01:55.980> for 00:01:56.060 --> 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you know why is it that the ops that we 00:02:04.020 --> 00:02:06.170 align:start position:0% you know why is it that the ops that we love<00:02:04.350> that<00:02:04.950> we<00:02:05.040> use<00:02:05.190> all<00:02:05.400> the<00:02:05.460> plan<00:02:05.700> and<00:02:05.880> kind 00:02:06.170 --> 00:02:06.180 align:start position:0% love that we use all the plan and kind 00:02:06.180 --> 00:02:07.670 align:start position:0% love that we use all the plan and kind of<00:02:06.210> just<00:02:06.360> come<00:02:06.630> to<00:02:06.720> accept<00:02:07.050> that<00:02:07.170> these<00:02:07.410> things 00:02:07.670 --> 00:02:07.680 align:start position:0% of just come to accept that these things 00:02:07.680 --> 00:02:10.520 align:start position:0% of just come to accept that these things fail<00:02:08.010> right<00:02:08.940> when<00:02:09.750> these<00:02:09.840> things<00:02:10.050> are<00:02:10.260> you 00:02:10.520 --> 00:02:10.530 align:start position:0% fail right when these things are you 00:02:10.530 --> 00:02:12.200 align:start position:0% fail right when these things are you know<00:02:10.560> either<00:02:10.860> poor<00:02:11.280> just<00:02:11.520> information 00:02:12.200 --> 00:02:12.210 align:start position:0% know either poor just information 00:02:12.210 --> 00:02:15.230 align:start position:0% know either poor just information I<00:02:12.240> was<00:02:12.600> contended<00:02:13.110> that<00:02:13.640> your<00:02:14.640> software<00:02:15.150> is 00:02:15.230 --> 00:02:15.240 align:start position:0% I was contended that your software is 00:02:15.240 --> 00:02:16.100 align:start position:0% I was contended that your software is just<00:02:15.510> like<00:02:15.690> music 00:02:16.100 --> 00:02:16.110 align:start position:0% just like music 00:02:16.110 --> 00:02:17.720 align:start position:0% just like music except<00:02:16.620> that<00:02:16.770> like<00:02:16.920> the<00:02:17.010> boombox<00:02:17.250> man<00:02:17.640> you 00:02:17.720 --> 00:02:17.730 align:start position:0% except that like the boombox man you 00:02:17.730 --> 00:02:19.610 align:start position:0% except that like the boombox man you play<00:02:17.940> it<00:02:18.000> through<00:02:18.270> is<00:02:18.360> just<00:02:18.510> way<00:02:18.780> more<00:02:18.810> complex 00:02:19.610 --> 00:02:19.620 align:start position:0% play it through is just way more complex 00:02:19.620 --> 00:02:24.110 align:start position:0% play it through is just way more complex and<00:02:20.610> we<00:02:20.730> haven't<00:02:21.000> figured<00:02:21.300> out<00:02:21.360> how<00:02:21.600> to<00:02:23.120> give 00:02:24.110 --> 00:02:24.120 align:start position:0% and we haven't figured out how to give 00:02:24.120 --> 00:02:26.810 align:start position:0% and we haven't figured out how to give it<00:02:24.210> the<00:02:24.300> same<00:02:24.480> properties<00:02:25.640> that's<00:02:26.640> why<00:02:26.790> I 00:02:26.810 --> 00:02:26.820 align:start position:0% it the same properties that's why I 00:02:26.820 --> 00:02:27.950 align:start position:0% it the same properties that's why I think<00:02:27.000> you<00:02:27.120> can<00:02:27.240> trace<00:02:27.450> this<00:02:27.600> all<00:02:27.780> the<00:02:27.870> way 00:02:27.950 --> 00:02:27.960 align:start position:0% think you can trace this all the way 00:02:27.960 --> 00:02:31.190 align:start position:0% think you can trace this all the way back<00:02:28.170> to<00:02:28.470> the<00:02:29.100> Great<00:02:29.280> Depression<00:02:29.810> this<00:02:30.810> is<00:02:30.960> one 00:02:31.190 --> 00:02:31.200 align:start position:0% back to the Great Depression this is one 00:02:31.200 --> 00:02:33.910 align:start position:0% back to the Great Depression this is one that<00:02:31.440> you<00:02:31.620> know<00:02:31.650> planned<00:02:32.130> obsolescence<00:02:32.690> was 00:02:33.910 --> 00:02:33.920 align:start position:0% that you know planned obsolescence was 00:02:33.920 --> 00:02:36.950 align:start position:0% that you know planned obsolescence was first<00:02:34.920> produced<00:02:35.340> and<00:02:35.730> at<00:02:36.390> the<00:02:36.480> time<00:02:36.690> I<00:02:36.720> was 00:02:36.950 --> 00:02:36.960 align:start position:0% first produced and at the time I was 00:02:36.960 --> 00:02:38.660 align:start position:0% first produced and at the time I was seen<00:02:37.200> as<00:02:37.380> this<00:02:37.530> breakthrough<00:02:38.070> the<00:02:38.520> my 00:02:38.660 --> 00:02:38.670 align:start position:0% seen as this breakthrough the my 00:02:38.670 --> 00:02:40.910 align:start position:0% seen as this breakthrough the my economic<00:02:39.210> thinking<00:02:39.570> right<00:02:40.200> people<00:02:40.590> were<00:02:40.680> kind 00:02:40.910 --> 00:02:40.920 align:start position:0% economic thinking right people were kind 00:02:40.920 --> 00:02:42.530 align:start position:0% economic thinking right people were kind of<00:02:40.980> desperate<00:02:41.400> there<00:02:41.670> was<00:02:41.760> this<00:02:41.850> sense<00:02:42.270> that 00:02:42.530 --> 00:02:42.540 align:start position:0% of desperate there was this sense that 00:02:42.540 --> 00:02:44.810 align:start position:0% of desperate there was this sense that the<00:02:43.440> economy<00:02:43.680> was<00:02:43.950> feeling<00:02:44.430> because<00:02:44.700> there 00:02:44.810 --> 00:02:44.820 align:start position:0% the economy was feeling because there 00:02:44.820 --> 00:02:46.670 align:start position:0% the economy was feeling because there was<00:02:44.910> enough<00:02:45.180> purchasing<00:02:45.690> power<00:02:45.870> and<00:02:46.200> consumer 00:02:46.670 --> 00:02:46.680 align:start position:0% was enough purchasing power and consumer 00:02:46.680 --> 00:02:47.240 align:start position:0% was enough purchasing power and consumer scans 00:02:47.240 --> 00:02:47.250 align:start position:0% scans 00:02:47.250 --> 00:02:49.460 align:start position:0% scans this<00:02:48.060> is<00:02:48.180> the<00:02:48.330> same<00:02:48.540> time<00:02:48.780> the<00:02:48.960> Tommy<00:02:49.200> nerve 00:02:49.460 --> 00:02:49.470 align:start position:0% this is the same time the Tommy nerve 00:02:49.470 --> 00:02:51.410 align:start position:0% this is the same time the Tommy nerve King<00:02:49.710> said<00:02:50.070> that<00:02:50.280> it<00:02:50.910> would<00:02:51.030> be<00:02:51.120> better<00:02:51.300> to 00:02:51.410 --> 00:02:51.420 align:start position:0% King said that it would be better to 00:02:51.420 --> 00:02:54.320 align:start position:0% King said that it would be better to burry<00:02:52.020> a<00:02:52.140> bunch<00:02:52.440> of<00:02:52.560> money<00:02:52.800> glass<00:02:53.459> jars<00:02:53.880> to 00:02:54.320 --> 00:02:54.330 align:start position:0% burry a bunch of money glass jars to 00:02:54.330 --> 00:02:57.650 align:start position:0% burry a bunch of money glass jars to drive<00:02:54.630> implement<00:02:55.230> than<00:02:55.440> do<00:02:55.830> nothing<00:02:56.660> these 00:02:57.650 --> 00:02:57.660 align:start position:0% drive implement than do nothing these 00:02:57.660 --> 00:02:59.360 align:start position:0% drive implement than do nothing these ideas<00:02:58.110> actually<00:02:58.500> stuck<00:02:58.800> with<00:02:58.950> us<00:02:59.100> and<00:02:59.310> to 00:02:59.360 --> 00:02:59.370 align:start position:0% ideas actually stuck with us and to 00:02:59.370 --> 00:03:01.190 align:start position:0% ideas actually stuck with us and to become<00:02:59.489> part<00:02:59.640> of<00:02:59.880> the<00:02:59.970> zeitgeist<00:03:00.030> of<00:03:00.690> you<00:03:01.080> know 00:03:01.190 --> 00:03:01.200 align:start position:0% become part of the zeitgeist of you know 00:03:01.200 --> 00:03:02.949 align:start position:0% become part of the zeitgeist of you know what<00:03:01.350> we<00:03:01.470> expect<00:03:01.560> from<00:03:01.980> consumer<00:03:02.550> products 00:03:02.949 --> 00:03:02.959 align:start position:0% what we expect from consumer products 00:03:02.959 --> 00:03:06.830 align:start position:0% what we expect from consumer products over<00:03:03.959> the<00:03:04.050> last<00:03:04.200> century<00:03:04.590> so<00:03:05.450> shortly<00:03:06.450> after 00:03:06.830 --> 00:03:06.840 align:start position:0% over the last century so shortly after 00:03:06.840 --> 00:03:09.350 align:start position:0% over the last century so shortly after those<00:03:07.440> ideas<00:03:07.770> were<00:03:07.980> put<00:03:08.160> to<00:03:08.280> the<00:03:08.310> test<00:03:08.580> a 00:03:09.350 --> 00:03:09.360 align:start position:0% those ideas were put to the test a 00:03:09.360 --> 00:03:12.680 align:start position:0% those ideas were put to the test a cartel<00:03:10.290> of<00:03:10.640> like<00:03:11.640> what<00:03:11.820> manufacturers<00:03:12.450> were 00:03:12.680 --> 00:03:12.690 align:start position:0% cartel of like what manufacturers were 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about Phoebus cartel<00:03:17.910> where<00:03:18.570> they<00:03:18.690> decided<00:03:19.320> to 00:03:19.390 --> 00:03:19.400 align:start position:0% cartel where they decided to 00:03:19.400 --> 00:03:22.640 align:start position:0% cartel where they decided to collectively<00:03:20.400> limit<00:03:21.090> amount<00:03:21.420> however<00:03:22.260> then 00:03:22.640 --> 00:03:22.650 align:start position:0% collectively limit amount however then 00:03:22.650 --> 00:03:24.770 align:start position:0% collectively limit amount however then you<00:03:22.830> get<00:03:22.980> a<00:03:23.010> light<00:03:23.220> bulb<00:03:23.430> with<00:03:23.730> a<00:03:23.760> be<00:03:24.450> designed 00:03:24.770 --> 00:03:24.780 align:start position:0% you get a light bulb with a be designed 00:03:24.780 --> 00:03:27.170 align:start position:0% you get a light bulb with a be designed to<00:03:24.840> last<00:03:25.220> on<00:03:26.220> the<00:03:26.280> right<00:03:26.310> this<00:03:26.730> is<00:03:26.850> actually<00:03:26.970> a 00:03:27.170 --> 00:03:27.180 align:start position:0% to last on the right this is actually a 00:03:27.180 --> 00:03:28.610 align:start position:0% to last on the right this is actually a picture<00:03:27.300> it<00:03:27.540> was<00:03:27.660> called<00:03:27.900> the<00:03:28.050> Centennial 00:03:28.610 --> 00:03:28.620 align:start position:0% picture it was called the Centennial 00:03:28.620 --> 00:03:30.850 align:start position:0% picture it was called the Centennial light<00:03:28.770> bulb<00:03:29.010> this<00:03:29.730> is<00:03:29.940> a 00:03:30.850 --> 00:03:30.860 align:start position:0% light bulb this is a 00:03:30.860 --> 00:03:33.740 align:start position:0% light bulb this is a before<00:03:31.860> that<00:03:31.980> era<00:03:32.190> that<00:03:32.520> silver<00:03:33.090> mean<00:03:33.270> in<00:03:33.480> a 00:03:33.740 --> 00:03:33.750 align:start position:0% before that era that silver mean in a 00:03:33.750 --> 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products could have been like<00:03:40.610> there's<00:03:41.610> no<00:03:41.790> some<00:03:41.970> forms<00:03:42.270> of<00:03:42.390> paying 00:03:42.620 --> 00:03:42.630 align:start position:0% like there's no some forms of paying 00:03:42.630 --> 00:03:46.790 align:start position:0% like there's no some forms of paying obsolescence<00:03:44.630> today<00:03:45.630> I<00:03:45.660> mean<00:03:45.870> maybe<00:03:46.260> policy 00:03:46.790 --> 00:03:46.800 align:start position:0% obsolescence today I mean maybe policy 00:03:46.800 --> 00:03:48.920 align:start position:0% obsolescence today I mean maybe policy like<00:03:46.980> contrived<00:03:47.460> durability<00:03:48.210> I<00:03:48.390> think<00:03:48.840> this 00:03:48.920 --> 00:03:48.930 align:start position:0% like contrived durability I think this 00:03:48.930 --> 00:03:52.250 align:start position:0% like contrived durability I think this is<00:03:49.050> the<00:03:49.140> one<00:03:49.290> that<00:03:49.380> we<00:03:50.570> tend<00:03:51.570> to<00:03:51.600> identify<00:03:52.050> with 00:03:52.250 --> 00:03:52.260 align:start position:0% is the one that we tend to identify with 00:03:52.260 --> 00:03:56.810 align:start position:0% is the one that we tend to identify with the<00:03:52.350> most<00:03:52.790> with<00:03:53.790> that<00:03:53.940> term<00:03:55.400> but<00:03:56.400> it's<00:03:56.670> no 00:03:56.810 --> 00:03:56.820 align:start position:0% the most with that term but it's no 00:03:56.820 --> 00:03:58.370 align:start position:0% the most with that term but it's no longer<00:03:57.000> time<00:03:57.390> to<00:03:57.420> identify<00:03:57.630> with<00:03:58.020> software 00:03:58.370 --> 00:03:58.380 align:start position:0% longer time to identify with software 00:03:58.380 --> 00:03:59.600 align:start position:0% longer time to identify with software products<00:03:58.680> so<00:03:58.800> let<00:03:58.950> me<00:03:59.040> explain<00:03:59.370> what<00:03:59.550> I<00:03:59.580> mean 00:03:59.600 --> 00:03:59.610 align:start position:0% products so let me explain what I mean 00:03:59.610 --> 00:04:03.620 align:start position:0% products so let me explain what I mean when<00:04:00.390> I<00:04:00.450> say<00:04:00.830> contractor<00:04:01.830> ability<00:04:02.220> for<00:04:03.120> for 00:04:03.620 --> 00:04:03.630 align:start position:0% when I say contractor ability for for 00:04:03.630 --> 00:04:07.070 align:start position:0% when I say contractor ability for for software<00:04:04.970> and<00:04:05.970> specifically<00:04:06.450> it's<00:04:06.630> that<00:04:06.810> the 00:04:07.070 --> 00:04:07.080 align:start position:0% software and specifically it's that the 00:04:07.080 --> 00:04:10.130 align:start position:0% software and specifically it's that the apps<00:04:07.290> that<00:04:07.470> we<00:04:07.620> use<00:04:08.180> or<00:04:09.180> designed<00:04:09.720> to<00:04:09.990> help 00:04:10.130 --> 00:04:10.140 align:start position:0% apps that we use or designed to help 00:04:10.140 --> 00:04:13.300 align:start position:0% apps that we use or designed to help live<00:04:10.610> the<00:04:11.610> companies<00:04:12.030> that<00:04:12.060> built<00:04:12.450> them<00:04:12.600> and 00:04:13.300 --> 00:04:13.310 align:start position:0% live the companies that built them and 00:04:13.310 --> 00:04:15.260 align:start position:0% live the companies that built them and this<00:04:14.310> would've<00:04:14.670> been<00:04:14.700> a<00:04:14.820> problem 00:04:15.260 --> 00:04:15.270 align:start position:0% this would've been a problem 00:04:15.270 --> 00:04:18.140 align:start position:0% this would've been a problem maybe<00:04:15.750> 100<00:04:16.500> years<00:04:16.830> ago<00:04:16.980> you<00:04:17.730> know<00:04:17.820> the<00:04:18.030> average 00:04:18.140 --> 00:04:18.150 align:start position:0% maybe 100 years ago you know the average 00:04:18.150 --> 00:04:20.930 align:start position:0% maybe 100 years ago you know the average lifespan<00:04:18.480> of<00:04:18.750> a<00:04:18.900> company<00:04:19.260> was<00:04:19.850> you<00:04:20.850> know 00:04:20.930 --> 00:04:20.940 align:start position:0% lifespan of a company was you know 00:04:20.940 --> 00:04:22.580 align:start position:0% lifespan of a company was you know closer<00:04:21.180> than<00:04:21.330> 60<00:04:21.630> years<00:04:21.840> at<00:04:22.019> least<00:04:22.049> on<00:04:22.260> the<00:04:22.320> S&P 00:04:22.580 --> 00:04:22.590 align:start position:0% closer than 60 years at least on the S&P 00:04:22.590 --> 00:04:25.160 align:start position:0% closer than 60 years at least on the S&P no<00:04:23.460> today<00:04:23.760> it's<00:04:23.940> closer<00:04:24.180> to<00:04:24.330> 20<00:04:24.660> years<00:04:24.840> its 00:04:25.160 --> 00:04:25.170 align:start position:0% no today it's closer to 20 years its 00:04:25.170 --> 00:04:27.890 align:start position:0% no today it's closer to 20 years its projected<00:04:25.620> to<00:04:25.650> keep<00:04:25.890> decreasing<00:04:26.540> so<00:04:27.540> you<00:04:27.720> know 00:04:27.890 --> 00:04:27.900 align:start position:0% projected to keep decreasing so you know 00:04:27.900 --> 00:04:29.420 align:start position:0% projected to keep decreasing so you know something<00:04:28.260> that's<00:04:28.380> real<00:04:28.560> companies<00:04:29.280> are 00:04:29.420 --> 00:04:29.430 align:start position:0% something that's real companies are 00:04:29.430 --> 00:04:31.040 align:start position:0% something that's real companies are going<00:04:29.520> to<00:04:29.580> last<00:04:29.760> you<00:04:30.300> know<00:04:30.420> that's<00:04:30.780> the<00:04:30.870> best 00:04:31.040 --> 00:04:31.050 align:start position:0% going to last you know that's the best 00:04:31.050 --> 00:04:32.740 align:start position:0% going to last you know that's the best time<00:04:31.320> and<00:04:31.920> we<00:04:32.070> can<00:04:32.190> start<00:04:32.370> thinking<00:04:32.550> about 00:04:32.740 --> 00:04:32.750 align:start position:0% time and we can start thinking about 00:04:32.750 --> 00:04:35.330 align:start position:0% time and we can start thinking about what<00:04:33.750> that<00:04:34.260> means<00:04:34.470> for<00:04:34.650> the<00:04:34.800> price<00:04:35.010> that<00:04:35.190> they 00:04:35.330 --> 00:04:35.340 align:start position:0% what that means for the price that they 00:04:35.340 --> 00:04:37.760 align:start position:0% what that means for the price that they create<00:04:36.050> so<00:04:37.050> there's<00:04:37.200> a<00:04:37.230> lot<00:04:37.350> of<00:04:37.380> reasons<00:04:37.710> for 00:04:37.760 --> 00:04:37.770 align:start position:0% create so there's a lot of reasons for 00:04:37.770 --> 00:04:40.070 align:start position:0% create so there's a lot of reasons for this<00:04:37.950> you<00:04:38.340> know<00:04:38.600> these<00:04:39.600> are<00:04:39.750> just<00:04:39.780> like<00:04:39.990> a 00:04:40.070 --> 00:04:40.080 align:start position:0% this you know these are just like a 00:04:40.080 --> 00:04:43.580 align:start position:0% this you know these are just like a couple<00:04:40.320> ones<00:04:40.470> that<00:04:40.650> you<00:04:40.710> still<00:04:40.919> up<00:04:42.470> which<00:04:43.470> is 00:04:43.580 --> 00:04:43.590 align:start position:0% couple ones that you still up which is 00:04:43.590 --> 00:04:45.680 align:start position:0% couple ones that you still up which is had<00:04:43.800> for<00:04:44.669> a<00:04:44.700> long<00:04:44.850> time<00:04:45.120> that<00:04:45.270> playbook<00:04:45.630> is 00:04:45.680 --> 00:04:45.690 align:start position:0% had for a long time that playbook is 00:04:45.690 --> 00:04:47.420 align:start position:0% had for a long time that playbook is kind<00:04:46.020> of<00:04:46.050> a<00:04:46.140> to<00:04:46.200> go<00:04:46.410> in<00:04:46.590> your<00:04:46.740> home<00:04:46.860> for<00:04:47.370> you 00:04:47.420 --> 00:04:47.430 align:start position:0% kind of a to go in your home for you 00:04:47.430 --> 00:04:49.010 align:start position:0% kind of a to go in your home for you know<00:04:47.700> specially<00:04:48.030> consumer<00:04:48.450> applications 00:04:49.010 --> 00:04:49.020 align:start position:0% know specially consumer applications 00:04:49.020 --> 00:04:51.290 align:start position:0% know specially consumer applications right<00:04:49.770> like<00:04:49.950> even<00:04:50.220> big<00:04:50.520> you<00:04:50.850> know<00:04:50.970> successful 00:04:51.290 --> 00:04:51.300 align:start position:0% right like even big you know successful 00:04:51.300 --> 00:04:53.480 align:start position:0% right like even big you know successful rates<00:04:51.600> like<00:04:51.810> Instagram<00:04:52.350> or<00:04:52.590> snapchat<00:04:52.860> and 00:04:53.480 --> 00:04:53.490 align:start position:0% rates like Instagram or snapchat and 00:04:53.490 --> 00:04:55.060 align:start position:0% rates like Instagram or snapchat and they<00:04:53.580> start<00:04:54.000> thinking<00:04:54.150> about<00:04:54.419> monetization 00:04:55.060 --> 00:04:55.070 align:start position:0% they start thinking about monetization 00:04:55.070 --> 00:04:58.520 align:start position:0% they start thinking about monetization until<00:04:56.070> years<00:04:56.430> into<00:04:56.790> their<00:04:56.910> growth<00:04:57.180> plan<00:04:57.530> and 00:04:58.520 --> 00:04:58.530 align:start position:0% until years into their growth plan and 00:04:58.530 --> 00:05:00.440 align:start position:0% until years into their growth plan and those<00:04:59.340> are<00:04:59.460> kind<00:04:59.610> of<00:04:59.669> the<00:04:59.730> success<00:05:00.090> stories 00:05:00.440 --> 00:05:00.450 align:start position:0% those are kind of the success stories 00:05:00.450 --> 00:05:01.110 align:start position:0% those are kind of the success stories but<00:05:00.630> many 00:05:01.110 --> 00:05:01.120 align:start position:0% but many 00:05:01.120 --> 00:05:03.930 align:start position:0% but many companies<00:05:01.630> are<00:05:01.870> sort<00:05:02.410> of<00:05:02.440> that<00:05:02.620> and<00:05:02.979> they<00:05:03.729> get 00:05:03.930 --> 00:05:03.940 align:start position:0% companies are sort of that and they get 00:05:03.940 --> 00:05:05.820 align:start position:0% companies are sort of that and they get you<00:05:04.240> know<00:05:04.360> maybe<00:05:04.720> tens<00:05:05.139> of<00:05:05.350> thousands<00:05:05.770> of 00:05:05.820 --> 00:05:05.830 align:start position:0% you know maybe tens of thousands of 00:05:05.830 --> 00:05:07.530 align:start position:0% you know maybe tens of thousands of users<00:05:06.070> and<00:05:06.400> they<00:05:06.460> decide<00:05:06.760> that's<00:05:07.000> not<00:05:07.210> enough 00:05:07.530 --> 00:05:07.540 align:start position:0% users and they decide that's not enough 00:05:07.540 --> 00:05:09.540 align:start position:0% users and they decide that's not enough skill<00:05:07.840> to<00:05:07.870> drive<00:05:08.500> a<00:05:08.530> business<00:05:08.740> model<00:05:09.010> and<00:05:09.310> so 00:05:09.540 --> 00:05:09.550 align:start position:0% skill to drive a business model and so 00:05:09.550 --> 00:05:11.820 align:start position:0% skill to drive a business model and so they<00:05:09.699> shut<00:05:10.030> down<00:05:10.270> or<00:05:11.020> they<00:05:11.290> become<00:05:11.440> strategic 00:05:11.820 --> 00:05:11.830 align:start position:0% they shut down or they become strategic 00:05:11.830 --> 00:05:13.860 align:start position:0% they shut down or they become strategic acquisitions<00:05:12.820> for<00:05:13.030> like<00:05:13.240> March<00:05:13.479> people<00:05:13.780> on 00:05:13.860 --> 00:05:13.870 align:start position:0% acquisitions for like March people on 00:05:13.870 --> 00:05:15.900 align:start position:0% acquisitions for like March people on rights<00:05:14.110> that<00:05:14.320> then<00:05:14.590> shut<00:05:15.310> them<00:05:15.460> down<00:05:15.639> or 00:05:15.900 --> 00:05:15.910 align:start position:0% rights that then shut them down or 00:05:15.910 --> 00:05:16.290 align:start position:0% rights that then shut them down or something 00:05:16.290 --> 00:05:16.300 align:start position:0% something 00:05:16.300 --> 00:05:17.850 align:start position:0% something you<00:05:16.510> don't<00:05:16.690> migrate<00:05:16.810> their<00:05:17.139> user<00:05:17.320> sensitive 00:05:17.850 --> 00:05:17.860 align:start position:0% you don't migrate their user sensitive 00:05:17.860 --> 00:05:21.540 align:start position:0% you don't migrate their user sensitive other<00:05:18.280> products<00:05:19.860> now<00:05:20.860> so<00:05:21.070> ever<00:05:21.190> may<00:05:21.280> be<00:05:21.370> that 00:05:21.540 --> 00:05:21.550 align:start position:0% other products now so ever may be that 00:05:21.550 --> 00:05:23.870 align:start position:0% other products now so ever may be that this<00:05:21.639> is<00:05:21.699> a<00:05:21.820> formal<00:05:22.150> to<00:05:22.330> obsolescence<00:05:22.690> because 00:05:23.870 --> 00:05:23.880 align:start position:0% this is a formal to obsolescence because 00:05:23.880 --> 00:05:27.540 align:start position:0% this is a formal to obsolescence because these<00:05:24.880> businesses<00:05:25.419> are<00:05:25.750> basically<00:05:26.680> planning 00:05:27.540 --> 00:05:27.550 align:start position:0% these businesses are basically planning 00:05:27.550 --> 00:05:31.110 align:start position:0% these businesses are basically planning for<00:05:27.880> this<00:05:28.080> this<00:05:29.080> world<00:05:29.350> relate<00:05:29.770> only<00:05:30.040> than<00:05:31.030> the 00:05:31.110 --> 00:05:31.120 align:start position:0% for this this world relate only than the 00:05:31.120 --> 00:05:33.629 align:start position:0% for this this world relate only than the cases<00:05:31.419> like<00:05:31.510> massive<00:05:31.960> success<00:05:32.550> will<00:05:33.550> they 00:05:33.629 --> 00:05:33.639 align:start position:0% cases like massive success will they 00:05:33.639 --> 00:05:35.760 align:start position:0% cases like massive success will they need<00:05:33.820> to<00:05:33.940> be<00:05:34.120> to<00:05:34.240> be<00:05:34.479> taken<00:05:34.810> care<00:05:34.840> rather<00:05:35.620> than 00:05:35.760 --> 00:05:35.770 align:start position:0% need to be to be taken care rather than 00:05:35.770 --> 00:05:38.159 align:start position:0% need to be to be taken care rather than planning<00:05:36.130> for<00:05:36.460> their<00:05:36.580> products<00:05:36.970> out<00:05:37.090> with<00:05:37.510> you 00:05:38.159 --> 00:05:38.169 align:start position:0% planning for their products out with you 00:05:38.169 --> 00:05:42.060 align:start position:0% planning for their products out with you know<00:05:38.289> the<00:05:38.410> companies<00:05:38.800> themselves<00:05:40.889> was<00:05:41.889> just 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kind of most happy for you know the 00:05:47.229 --> 00:05:50.360 align:start position:0% kind of most happy for you know the people<00:05:47.530> that<00:05:47.970> you<00:05:48.970> know<00:05:49.060> that<00:05:49.180> are<00:05:49.300> affected 00:05:50.360 --> 00:05:50.370 align:start position:0% people that you know that are affected 00:05:50.370 --> 00:05:53.610 align:start position:0% people that you know that are affected content<00:05:51.370> is<00:05:51.460> everyone<00:05:51.760> in<00:05:51.850> this<00:05:51.940> room<00:05:52.350> so<00:05:53.350> you 00:05:53.610 --> 00:05:53.620 align:start position:0% content is everyone in this room so you 00:05:53.620 --> 00:05:55.370 align:start position:0% content is everyone in this room so you know<00:05:53.710> a<00:05:53.740> few<00:05:53.889> teammates<00:05:54.250> you<00:05:54.729> know<00:05:54.760> here<00:05:55.060> just 00:05:55.370 --> 00:05:55.380 align:start position:0% know a few teammates you know here just 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our data to it we were<00:06:07.990> happy<00:06:08.349> to<00:06:08.440> pay<00:06:08.590> for<00:06:08.620> it 00:06:09.060 --> 00:06:09.070 align:start position:0% were happy to pay for it 00:06:09.070 --> 00:06:11.940 align:start position:0% were happy to pay for it and<00:06:10.030> not<00:06:10.419> with<00:06:10.599> striking<00:06:10.990> right<00:06:11.380> so<00:06:11.620> you're 00:06:11.940 --> 00:06:11.950 align:start position:0% and not with striking right so you're 00:06:11.950 --> 00:06:14.460 align:start position:0% and not with striking right so you're talking<00:06:12.099> you<00:06:12.820> know<00:06:12.960> thousands<00:06:13.960> and<00:06:14.080> thousands 00:06:14.460 --> 00:06:14.470 align:start position:0% talking you know thousands and thousands 00:06:14.470 --> 00:06:16.320 align:start position:0% talking you know thousands and thousands of<00:06:14.530> dollars<00:06:14.860> worth<00:06:14.889> of<00:06:15.220> engineers<00:06:15.760> time<00:06:16.000> that 00:06:16.320 --> 00:06:16.330 align:start position:0% of dollars worth of engineers time that 00:06:16.330 --> 00:06:18.290 align:start position:0% of dollars worth of engineers time that you<00:06:16.510> know<00:06:16.599> it's<00:06:16.750> kind<00:06:17.050> of<00:06:17.080> stolen<00:06:17.680> from<00:06:17.860> us 00:06:18.290 --> 00:06:18.300 align:start position:0% you know it's kind of stolen from us 00:06:18.300 --> 00:06:20.810 align:start position:0% you know it's kind of stolen from us against<00:06:19.300> our<00:06:19.389> will 00:06:20.810 --> 00:06:20.820 align:start position:0% against our will 00:06:20.820 --> 00:06:24.719 align:start position:0% against our will you<00:06:21.820> can<00:06:22.000> go<00:06:22.150> to<00:06:22.560> this<00:06:23.560> website<00:06:23.860> in<00:06:24.130> La<00:06:24.340> Jolla 00:06:24.719 --> 00:06:24.729 align:start position:0% you can go to this website in La Jolla 00:06:24.729 --> 00:06:28.050 align:start position:0% you can go to this website in La Jolla google.com<00:06:25.510> and<00:06:26.110> you<00:06:26.560> can<00:06:26.680> see<00:06:26.889> like<00:06:27.039> 150<00:06:27.849> plus 00:06:28.050 --> 00:06:28.060 align:start position:0% google.com and you can see like 150 plus 00:06:28.060 --> 00:06:31.760 align:start position:0% google.com and you can see like 150 plus products<00:06:28.570> a<00:06:28.900> over<00:06:29.440> the<00:06:29.560> years<00:06:29.970> and<00:06:30.970> so<00:06:31.210> I 00:06:31.760 --> 00:06:31.770 align:start position:0% products a over the years and so I 00:06:31.770 --> 00:06:33.200 align:start position:0% products a over the years and so I think<00:06:31.889> about<00:06:32.039> the<00:06:32.190> users<00:06:32.550> that<00:06:32.729> kind<00:06:32.940> of<00:06:33.030> gave 00:06:33.200 --> 00:06:33.210 align:start position:0% think about the users that kind of gave 00:06:33.210 --> 00:06:34.879 align:start position:0% think about the users that kind of gave those<00:06:33.389> products<00:06:33.780> a<00:06:33.840> shot<00:06:34.080> you<00:06:34.470> know<00:06:34.500> spent 00:06:34.879 --> 00:06:34.889 align:start position:0% those products a shot you know spent 00:06:34.889 --> 00:06:36.920 align:start position:0% those products a shot you know spent their<00:06:35.039> time<00:06:35.210> getting<00:06:36.210> excited<00:06:36.569> about<00:06:36.720> it 00:06:36.920 --> 00:06:36.930 align:start position:0% their time getting excited about it 00:06:36.930 --> 00:06:40.369 align:start position:0% their time getting excited about it playing<00:06:37.169> with<00:06:37.349> it<00:06:37.639> and<00:06:38.639> then<00:06:39.479> you<00:06:39.990> know<00:06:40.110> later 00:06:40.369 --> 00:06:40.379 align:start position:0% playing with it and then you know later 00:06:40.379 --> 00:06:41.960 align:start position:0% playing with it and then you know later also<00:06:40.650> punished<00:06:41.159> for<00:06:41.340> kind<00:06:41.550> of<00:06:41.610> taking<00:06:41.879> that 00:06:41.960 --> 00:06:41.970 align:start position:0% also punished for kind of taking that 00:06:41.970 --> 00:06:44.570 align:start position:0% also punished for kind of taking that chance<00:06:42.319> and<00:06:43.319> think<00:06:43.710> about<00:06:43.860> this<00:06:44.250> user 00:06:44.570 --> 00:06:44.580 align:start position:0% chance and think about this user 00:06:44.580 --> 00:06:46.610 align:start position:0% chance and think about this user psychology<00:06:45.240> right<00:06:45.419> but<00:06:45.720> we<00:06:45.870> want<00:06:46.080> starts<00:06:46.500> to 00:06:46.610 --> 00:06:46.620 align:start position:0% psychology right but we want starts to 00:06:46.620 --> 00:06:48.950 align:start position:0% psychology right but we want starts to be<00:06:46.740> successful<00:06:47.310> but<00:06:47.849> if<00:06:47.970> we<00:06:48.090> train<00:06:48.300> users<00:06:48.569> that 00:06:48.950 --> 00:06:48.960 align:start position:0% be successful but if we train users that 00:06:48.960 --> 00:06:51.170 align:start position:0% be successful but if we train users that you<00:06:49.319> know<00:06:49.409> taking<00:06:49.770> a<00:06:49.830> risk<00:06:49.949> on<00:06:50.159> the<00:06:50.250> new<00:06:50.400> life 00:06:51.170 --> 00:06:51.180 align:start position:0% you know taking a risk on the new life 00:06:51.180 --> 00:06:53.029 align:start position:0% you know taking a risk on the new life starter<00:06:51.479> project<00:06:51.960> is<00:06:52.139> you<00:06:52.500> know<00:06:52.620> a<00:06:52.650> fool's 00:06:53.029 --> 00:06:53.039 align:start position:0% starter project is you know a fool's 00:06:53.039 --> 00:06:54.800 align:start position:0% starter project is you know a fool's errand<00:06:53.400> then<00:06:54.030> like<00:06:54.150> we're<00:06:54.330> gonna<00:06:54.419> see<00:06:54.629> a<00:06:54.659> lot 00:06:54.800 --> 00:06:54.810 align:start position:0% errand then like we're gonna see a lot 00:06:54.810 --> 00:06:57.980 align:start position:0% errand then like we're gonna see a lot less<00:06:54.870> innovation<00:06:55.830> and<00:06:56.069> adoption<00:06:56.280> of<00:06:56.610> new<00:06:56.990> new 00:06:57.980 --> 00:06:57.990 align:start position:0% less innovation and adoption of new new 00:06:57.990 --> 00:07:01.490 align:start position:0% less innovation and adoption of new new projects<00:06:59.690> another<00:07:00.690> dimension<00:07:01.139> to<00:07:01.199> this<00:07:01.319> is 00:07:01.490 --> 00:07:01.500 align:start position:0% projects another dimension to this is 00:07:01.500 --> 00:07:04.219 align:start position:0% projects another dimension to this is tech<00:07:01.710> technological<00:07:02.639> stagnation<00:07:03.479> so<00:07:03.990> this<00:07:04.110> is 00:07:04.219 --> 00:07:04.229 align:start position:0% tech technological stagnation so this is 00:07:04.229 --> 00:07:05.600 align:start position:0% tech technological stagnation so this is something<00:07:04.470> that<00:07:04.500> Peter<00:07:04.770> Thiel<00:07:05.039> talks<00:07:05.340> about<00:07:05.580> a 00:07:05.600 --> 00:07:05.610 align:start position:0% something that Peter Thiel talks about a 00:07:05.610 --> 00:07:08.210 align:start position:0% something that Peter Thiel talks about a lot<00:07:06.380> he<00:07:07.380> says<00:07:07.560> they<00:07:07.680> have<00:07:07.949> a<00:07:07.979> lot<00:07:08.190> of 00:07:08.210 --> 00:07:08.220 align:start position:0% lot he says they have a lot of 00:07:08.220 --> 00:07:11.180 align:start position:0% lot he says they have a lot of innovation<00:07:09.090> in<00:07:09.180> the<00:07:09.270> blog<00:07:09.680> bits<00:07:10.680> but<00:07:11.039> not 00:07:11.180 --> 00:07:11.190 align:start position:0% innovation in the blog bits but not 00:07:11.190 --> 00:07:16.070 align:start position:0% innovation in the blog bits but not products<00:07:12.889> now<00:07:13.889> that<00:07:14.190> you<00:07:14.310> one<00:07:14.900> part<00:07:15.900> of<00:07:15.960> this 00:07:16.070 --> 00:07:16.080 align:start position:0% products now that you one part of this 00:07:16.080 --> 00:07:18.170 align:start position:0% products now that you one part of this is<00:07:16.259> that<00:07:16.289> were<00:07:16.650> we're<00:07:17.250> redoing<00:07:17.550> the<00:07:17.759> same<00:07:17.970> work 00:07:18.170 --> 00:07:18.180 align:start position:0% is that were we're redoing the same work 00:07:18.180 --> 00:07:20.180 align:start position:0% is that were we're redoing the same work over<00:07:18.389> and<00:07:18.599> over<00:07:18.659> again<00:07:18.870> so<00:07:19.229> we<00:07:19.680> go<00:07:19.800> back<00:07:19.830> to<00:07:20.069> the 00:07:20.180 --> 00:07:20.190 align:start position:0% over and over again so we go back to the 00:07:20.190 --> 00:07:22.460 align:start position:0% over and over again so we go back to the center<00:07:20.550> showing<00:07:20.729> before<00:07:21.319> one<00:07:22.319> of<00:07:22.349> these 00:07:22.460 --> 00:07:22.470 align:start position:0% center showing before one of these 00:07:22.470 --> 00:07:24.379 align:start position:0% center showing before one of these products<00:07:22.919> one<00:07:23.250> on<00:07:23.370> the<00:07:23.430> left<00:07:23.639> that's<00:07:24.000> not<00:07:24.240> like 00:07:24.379 --> 00:07:24.389 align:start position:0% products one on the left that's not like 00:07:24.389 --> 00:07:26.570 align:start position:0% products one on the left that's not like this<00:07:24.630> mailbox<00:07:25.259> was<00:07:25.710> it's<00:07:25.889> kind<00:07:26.099> of<00:07:26.159> innovative 00:07:26.570 --> 00:07:26.580 align:start position:0% this mailbox was it's kind of innovative 00:07:26.580 --> 00:07:28.430 align:start position:0% this mailbox was it's kind of innovative you<00:07:26.909> know<00:07:26.940> mail<00:07:27.240> out<00:07:27.509> that<00:07:27.780> came<00:07:27.960> up<00:07:28.080> this<00:07:28.289> is 00:07:28.430 --> 00:07:28.440 align:start position:0% you know mail out that came up this is 00:07:28.440 --> 00:07:32.659 align:start position:0% you know mail out that came up this is you<00:07:28.560> know<00:07:28.620> nice<00:07:28.800> of<00:07:29.360> us<00:07:30.360> you<00:07:31.110> know<00:07:31.139> features<00:07:31.669> it 00:07:32.659 --> 00:07:32.669 align:start position:0% you know nice of us you know features it 00:07:32.669 --> 00:07:34.430 align:start position:0% you know nice of us you know features it was<00:07:32.789> acquired<00:07:33.120> by<00:07:33.180> chocolates<00:07:33.840> and<00:07:34.020> shut<00:07:34.229> down 00:07:34.430 --> 00:07:34.440 align:start position:0% was acquired by chocolates and shut down 00:07:34.440 --> 00:07:37.189 align:start position:0% was acquired by chocolates and shut down the<00:07:35.280> inbox<00:07:35.880> came<00:07:36.150> around<00:07:36.300> later<00:07:36.599> basically 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align:start position:0% then that will shut down and you know 00:07:43.860 --> 00:07:45.770 align:start position:0% then that will shut down and you know I'm<00:07:44.009> sure<00:07:44.190> there's<00:07:44.400> you<00:07:44.610> know<00:07:44.639> your<00:07:45.090> to<00:07:45.330> my 00:07:45.770 --> 00:07:45.780 align:start position:0% I'm sure there's you know your to my 00:07:45.780 --> 00:07:47.360 align:start position:0% I'm sure there's you know your to my another<00:07:46.020> startup<00:07:46.469> said<00:07:46.800> hey<00:07:46.979> you<00:07:47.039> know<00:07:47.219> those 00:07:47.360 --> 00:07:47.370 align:start position:0% another startup said hey you know those 00:07:47.370 --> 00:07:48.709 align:start position:0% another startup said hey you know those two<00:07:47.580> dots<00:07:47.759> are<00:07:47.909> really<00:07:48.090> creative<00:07:48.419> of<00:07:48.539> us 00:07:48.709 --> 00:07:48.719 align:start position:0% two dots are really creative of us 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align:start position:0% years from now we're still talking about the<00:07:55.770> latest<00:07:55.979> like<00:07:56.340> talent<00:07:57.060> graph<00:07:57.240> to<00:07:57.719> do<00:07:57.840> this 00:07:57.980 --> 00:07:57.990 align:start position:0% the latest like talent graph to do this 00:07:57.990 --> 00:08:00.559 align:start position:0% the latest like talent graph to do this map<00:07:58.259> mail<00:07:59.009> app<00:07:59.279> then<00:07:59.909> like<00:08:00.029> we<00:08:00.180> haven't<00:08:00.479> done 00:08:00.559 --> 00:08:00.569 align:start position:0% map mail app then like we haven't done 00:08:00.569 --> 00:08:05.689 align:start position:0% map mail app then like we haven't done our<00:08:00.630> job<00:08:01.190> correctly<00:08:04.279> so<00:08:05.279> it's<00:08:05.430> going<00:08:05.550> to 00:08:05.689 --> 00:08:05.699 align:start position:0% our job correctly so it's going to 00:08:05.699 --> 00:08:07.749 align:start position:0% our job correctly so it's going to nominator<00:08:06.060> that<00:08:06.270> you'll<00:08:06.389> see<00:08:06.569> with<00:08:06.840> a<00:08:06.870> lot<00:08:07.139> of 00:08:07.749 --> 00:08:07.759 align:start position:0% nominator that you'll see with a lot of 00:08:07.759 --> 00:08:09.469 align:start position:0% nominator that you'll see with a lot of products<00:08:08.759> that<00:08:08.819> are<00:08:08.940> designed<00:08:09.060> to<00:08:09.330> be 00:08:09.469 --> 00:08:09.479 align:start position:0% products that are designed to be 00:08:09.479 --> 00:08:14.050 align:start position:0% products that are designed to be obsolete<00:08:09.719> is<00:08:10.340> what<00:08:11.340> I<00:08:11.400> call<00:08:11.639> bundling<00:08:12.029> and 00:08:14.050 --> 00:08:14.060 align:start position:0% obsolete is what I call bundling and 00:08:14.060 --> 00:08:17.320 align:start position:0% obsolete is what I call bundling and specifically<00:08:15.060> bundling<00:08:15.840> uh 00:08:17.320 --> 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know parts that have really<00:08:23.940> swung 00:08:24.760 --> 00:08:24.770 align:start position:0% really swung 00:08:24.770 --> 00:08:26.469 align:start position:0% really swung it's<00:08:25.070> the<00:08:25.250> you<00:08:25.789> know<00:08:25.850> the<00:08:26.000> greatest<00:08:26.240> being 00:08:26.469 --> 00:08:26.479 align:start position:0% it's the you know the greatest being 00:08:26.479 --> 00:08:28.510 align:start position:0% it's the you know the greatest being information<00:08:26.720> was<00:08:27.169> you<00:08:27.590> know<00:08:27.710> infinitely 00:08:28.510 --> 00:08:28.520 align:start position:0% information was you know infinitely 00:08:28.520 --> 00:08:30.730 align:start position:0% information was you know infinitely durable<00:08:29.030> with<00:08:29.630> you<00:08:30.110> know<00:08:30.199> Hurston<00:08:30.650> are 00:08:30.730 --> 00:08:30.740 align:start position:0% durable with you know Hurston are 00:08:30.740 --> 00:08:33.459 align:start position:0% durable with you know Hurston are immortal<00:08:31.599> ccs<00:08:32.599> across<00:08:32.870> the<00:08:33.020> board<00:08:33.289> when<00:08:33.440> it 00:08:33.459 --> 00:08:33.469 align:start position:0% immortal ccs across the board when it 00:08:33.469 --> 00:08:36.700 align:start position:0% immortal ccs across the board when it comes<00:08:33.710> to<00:08:34.510> planned<00:08:35.510> obsolescence<00:08:35.930> so<00:08:36.320> you<00:08:36.380> see 00:08:36.700 --> 00:08:36.710 align:start position:0% comes to planned obsolescence so you see 00:08:36.710 --> 00:08:39.339 align:start position:0% comes to planned obsolescence so you see a<00:08:36.740> physical<00:08:36.979> components<00:08:38.050> so<00:08:39.050> like<00:08:39.200> how<00:08:39.320> many 00:08:39.339 --> 00:08:39.349 align:start position:0% a physical components so like how many 00:08:39.349 --> 00:08:42.820 align:start position:0% a physical components so like how many likes<00:08:39.770> for<00:08:39.890> example<00:08:41.409> there<00:08:42.409> was<00:08:42.529> a<00:08:42.560> study 00:08:42.820 --> 00:08:42.830 align:start position:0% likes for example there was a study 00:08:42.830 --> 00:08:44.860 align:start position:0% likes for example there was a study that's<00:08:43.070> so<00:08:43.279> that<00:08:43.490> like<00:08:43.760> for<00:08:44.180> outdoor<00:08:44.570> LED 00:08:44.860 --> 00:08:44.870 align:start position:0% that's so that like for outdoor LED 00:08:44.870 --> 00:08:47.860 align:start position:0% that's so that like for outdoor LED bulbs<00:08:45.470> in<00:08:45.709> only<00:08:45.920> tempers<00:08:46.310> like<00:08:47.120> a<00:08:47.300> suave 00:08:47.860 --> 00:08:47.870 align:start position:0% bulbs in only tempers like a suave 00:08:47.870 --> 00:08:49.480 align:start position:0% bulbs in only tempers like a suave leaders<00:08:48.140> was<00:08:48.410> the<00:08:48.529> LED<00:08:48.920> bulb<00:08:49.160> itself 00:08:49.480 --> 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you know autonomy so we're just<00:09:04.100> throwing<00:09:04.550> working<00:09:05.060> LED<00:09:05.450> bulbs<00:09:05.750> in<00:09:05.839> the 00:09:05.920 --> 00:09:05.930 align:start position:0% just throwing working LED bulbs in the 00:09:05.930 --> 00:09:08.079 align:start position:0% just throwing working LED bulbs in the trash<00:09:06.140> with<00:09:06.350> my<00:09:06.500> new<00:09:06.740> ones<00:09:06.950> you<00:09:07.220> know<00:09:07.370> that<00:09:08.000> we 00:09:08.079 --> 00:09:08.089 align:start position:0% trash with my new ones you know that we 00:09:08.089 --> 00:09:10.510 align:start position:0% trash with my new ones you know that we still<00:09:08.300> hoping<00:09:09.010> you<00:09:10.010> see<00:09:10.190> this<00:09:10.279> with<00:09:10.490> the 00:09:10.510 --> 00:09:10.520 align:start position:0% still hoping you see this with the 00:09:10.520 --> 00:09:13.000 align:start position:0% still hoping you see this with the latest<00:09:10.820> issue<00:09:11.029> not<00:09:11.480> prose<00:09:12.020> writing<00:09:12.290> were<00:09:12.560> very 00:09:13.000 --> 00:09:13.010 align:start position:0% latest issue not prose writing were very 00:09:13.010 --> 00:09:15.940 align:start position:0% latest issue not prose writing were very accepted<00:09:13.610> they<00:09:14.480> solder<00:09:15.080> they<00:09:15.320> include<00:09:15.620> the 00:09:15.940 --> 00:09:15.950 align:start position:0% accepted they solder they include the 00:09:15.950 --> 00:09:17.710 align:start position:0% accepted they solder they include the other<00:09:16.130> random<00:09:16.430> battery<00:09:16.940> on<00:09:17.060> some<00:09:17.300> other<00:09:17.450> work 00:09:17.710 --> 00:09:17.720 align:start position:0% other random battery on some other work 00:09:17.720 --> 00:09:19.150 align:start position:0% other random battery on some other work meaning<00:09:18.050> that<00:09:18.140> one<00:09:18.440> of<00:09:18.529> these<00:09:18.620> parts<00:09:18.950> bills 00:09:19.150 --> 00:09:19.160 align:start position:0% meaning that one of these parts bills 00:09:19.160 --> 00:09:20.740 align:start position:0% meaning that one of these parts bills now<00:09:19.399> you're<00:09:19.580> swapping<00:09:19.820> on<00:09:20.060> your<00:09:20.209> tire<00:09:20.450> another 00:09:20.740 --> 00:09:20.750 align:start position:0% now you're swapping on your tire another 00:09:20.750 --> 00:09:22.720 align:start position:0% now you're swapping on your tire another board<00:09:20.990> instead<00:09:21.290> of<00:09:21.350> replacing<00:09:22.160> one<00:09:22.520> of<00:09:22.610> these 00:09:22.720 --> 00:09:22.730 align:start position:0% board instead of replacing one of these 00:09:22.730 --> 00:09:26.710 align:start position:0% board instead of replacing one of these things<00:09:22.940> piecemeal<00:09:25.120> kind<00:09:26.120> of<00:09:26.180> talked<00:09:26.540> already 00:09:26.710 --> 00:09:26.720 align:start position:0% things piecemeal kind of talked already 00:09:26.720 --> 00:09:28.780 align:start position:0% things piecemeal kind of talked already about<00:09:27.070> information<00:09:28.070> this<00:09:28.310> is<00:09:28.430> will<00:09:28.550> media 00:09:28.780 --> 00:09:28.790 align:start position:0% about information this is will media 00:09:28.790 --> 00:09:30.519 align:start position:0% about information this is will media right<00:09:29.390> so<00:09:29.660> they<00:09:29.870> were<00:09:29.930> still<00:09:30.170> in<00:09:30.260> the<00:09:30.320> world 00:09:30.519 --> 00:09:30.529 align:start position:0% right so they were still in the world 00:09:30.529 --> 00:09:33.490 align:start position:0% right so they were still in the world when<00:09:30.709> we<00:09:30.800> were<00:09:30.860> printing<00:09:31.279> our<00:09:31.570> books<00:09:32.570> on<00:09:32.870> you 00:09:33.490 --> 00:09:33.500 align:start position:0% when we were printing our books on you 00:09:33.500 --> 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position:0% world where books were designed to fail right<00:09:42.700> less<00:09:43.700> intuitive<00:09:44.000> this<00:09:44.390> information 00:09:44.949 --> 00:09:44.959 align:start position:0% right less intuitive this information 00:09:44.959 --> 00:09:47.199 align:start position:0% right less intuitive this information and<00:09:45.080> resources<00:09:45.670> so<00:09:46.670> a<00:09:46.700> lot<00:09:46.850> of<00:09:46.880> people<00:09:47.029> don't 00:09:47.199 --> 00:09:47.209 align:start position:0% and resources so a lot of people don't 00:09:47.209 --> 00:09:48.760 align:start position:0% and resources so a lot of people don't realize<00:09:47.450> we<00:09:48.230> don't<00:09:48.320> think<00:09:48.529> about<00:09:48.650> what 00:09:48.760 --> 00:09:48.770 align:start position:0% realize we don't think about what 00:09:48.770 --> 00:09:51.430 align:start position:0% realize we don't think about what happens<00:09:49.190> when<00:09:49.250> we<00:09:49.430> now<00:09:49.550> eight<00:09:49.850> to<00:09:50.089> a<00:09:50.440> about 00:09:51.430 --> 00:09:51.440 align:start position:0% happens when we now eight to a about 00:09:51.440 --> 00:09:54.130 align:start position:0% happens when we now eight to a about Mitch<00:09:51.620> you<00:09:52.490> know<00:09:52.520> we<00:09:52.700> put<00:09:52.880> the<00:09:52.970> URL<00:09:53.120> via<00:09:53.779> and 00:09:54.130 --> 00:09:54.140 align:start position:0% Mitch you know we put the URL via and 00:09:54.140 --> 00:09:58.540 align:start position:0% Mitch you know we put the URL via and the<00:09:55.040> you<00:09:55.550> know<00:09:55.580> the<00:09:55.700> browser<00:09:56.260> textbook<00:09:57.260> deal 00:09:58.540 --> 00:09:58.550 align:start position:0% the you know the browser textbook deal 00:09:58.550 --> 00:10:00.280 align:start position:0% the you know the browser textbook deal but<00:09:59.029> really<00:09:59.270> what<00:09:59.420> that<00:09:59.540> thing<00:09:59.750> is<00:09:59.779> doing<00:09:59.900> is 00:10:00.280 --> 00:10:00.290 align:start position:0% but really what that thing is doing is 00:10:00.290 --> 00:10:02.470 align:start position:0% but really what that thing is doing is it's<00:10:00.470> mounted<00:10:00.950> to<00:10:01.130> an<00:10:01.250> IP<00:10:01.430> address<00:10:01.580> through 00:10:02.470 --> 00:10:02.480 align:start position:0% it's mounted to an IP address through 00:10:02.480 --> 00:10:04.480 align:start position:0% it's mounted to an IP address through DNS<00:10:02.990> so<00:10:03.800> like<00:10:03.950> if<00:10:04.040> you<00:10:04.130> want<00:10:04.310> to<00:10:04.370> like 00:10:04.480 --> 00:10:04.490 align:start position:0% DNS so like if you want to like 00:10:04.490 --> 00:10:07.300 align:start position:0% DNS so like if you want to like Wikipedia<00:10:04.940> for<00:10:05.089> example<00:10:05.200> it's<00:10:06.200> gonna<00:10:06.410> go<00:10:07.250> to 00:10:07.300 --> 00:10:07.310 align:start position:0% Wikipedia for example it's gonna go to 00:10:07.310 --> 00:10:08.980 align:start position:0% Wikipedia for example it's gonna go to your<00:10:07.430> DNS<00:10:07.760> provider<00:10:08.120> you're<00:10:08.390> going<00:10:08.510> to<00:10:08.570> get 00:10:08.980 --> 00:10:08.990 align:start position:0% your DNS provider you're going to get 00:10:08.990 --> 00:10:11.079 align:start position:0% your DNS provider you're going to get he<00:10:09.260> address<00:10:09.560> one<00:10:10.250> that<00:10:10.370> IP<00:10:10.490> address<00:10:10.640> really 00:10:11.079 --> 00:10:11.089 align:start position:0% he address one that IP address really 00:10:11.089 --> 00:10:13.360 align:start position:0% he address one that IP address really represents<00:10:11.720> is<00:10:11.930> a<00:10:11.990> physical<00:10:12.649> location<00:10:13.160> on<00:10:13.250> the 00:10:13.360 --> 00:10:13.370 align:start position:0% represents is a physical location on the 00:10:13.370 --> 00:10:16.960 align:start position:0% represents is a physical location on the network<00:10:13.730> so<00:10:15.040> so<00:10:16.040> we're<00:10:16.430> taking<00:10:16.550> this<00:10:16.760> thing 00:10:16.960 --> 00:10:16.970 align:start position:0% network so so we're taking this thing 00:10:16.970 --> 00:10:19.380 align:start position:0% network so so we're taking this thing that's<00:10:17.270> just<00:10:17.360> information<00:10:17.890> Wikipedia<00:10:18.890> and 00:10:19.380 --> 00:10:19.390 align:start position:0% that's just information Wikipedia and 00:10:19.390 --> 00:10:22.269 align:start position:0% that's just information Wikipedia and Atlantis<00:10:20.390> visible<00:10:21.080> spot<00:10:21.470> on<00:10:21.710> the<00:10:21.800> network<00:10:22.130> and 00:10:22.269 --> 00:10:22.279 align:start position:0% Atlantis visible spot on the network and 00:10:22.279 --> 00:10:24.940 align:start position:0% Atlantis visible spot on the network and at<00:10:22.370> that<00:10:22.520> location<00:10:23.060> fails<00:10:23.830> that<00:10:24.830> the 00:10:24.940 --> 00:10:24.950 align:start position:0% at that location fails that the 00:10:24.950 --> 00:10:28.420 align:start position:0% at that location fails that the information<00:10:25.430> is<00:10:25.550> coming<00:10:27.070> we<00:10:28.070> see<00:10:28.190> that<00:10:28.310> all 00:10:28.420 --> 00:10:28.430 align:start position:0% information is coming we see that all 00:10:28.430 --> 00:10:29.889 align:start position:0% information is coming we see that all the<00:10:28.520> time<00:10:28.700> by<00:10:28.850> the<00:10:28.880> way<00:10:29.029> it's<00:10:29.180> called<00:10:29.390> Big<00:10:29.660> Rob 00:10:29.889 --> 00:10:29.899 align:start position:0% the time by the way it's called Big Rob 00:10:29.899 --> 00:10:34.960 align:start position:0% the time by the way it's called Big Rob if<00:10:30.440> you<00:10:30.529> want<00:10:30.709> to<00:10:30.770> look<00:10:30.860> it<00:10:30.950> up<00:10:33.610> when<00:10:34.610> we<00:10:34.640> get<00:10:34.850> it 00:10:34.960 --> 00:10:34.970 align:start position:0% if you want to look it up when we get it 00:10:34.970 --> 00:10:36.550 align:start position:0% if you want to look it up when we get it to<00:10:35.089> the<00:10:35.180> wrong<00:10:35.330> like<00:10:35.540> software<00:10:35.899> like<00:10:36.230> Web<00:10:36.380> Apps 00:10:36.550 --> 00:10:36.560 align:start position:0% to the wrong like software like Web Apps 00:10:36.560 --> 00:10:38.019 align:start position:0% to the wrong like software like Web Apps it<00:10:36.740> becomes<00:10:36.980> a<00:10:37.040> little<00:10:37.160> bit<00:10:37.250> more<00:10:37.339> complicated 00:10:38.019 --> 00:10:38.029 align:start position:0% it becomes a little bit more complicated 00:10:38.029 --> 00:10:40.600 align:start position:0% it becomes a little bit more complicated so<00:10:38.270> we're<00:10:38.450> bundling<00:10:38.750> software<00:10:39.529> with<00:10:40.370> the 00:10:40.600 --> 00:10:40.610 align:start position:0% so we're bundling software with the 00:10:40.610 --> 00:10:42.910 align:start position:0% so we're bundling software with the compute<00:10:41.180> storage<00:10:41.540> and<00:10:42.230> other<00:10:42.350> services 00:10:42.910 --> 00:10:42.920 align:start position:0% compute storage and other services 00:10:42.920 --> 00:10:46.600 align:start position:0% compute storage and other services required<00:10:43.370> to<00:10:43.550> make<00:10:43.670> that<00:10:43.700> software<00:10:44.209> work<00:10:45.610> and 00:10:46.600 --> 00:10:46.610 align:start position:0% required to make that software work and 00:10:46.610 --> 00:10:49.240 align:start position:0% required to make that software work and not<00:10:46.760> only<00:10:46.790> that<00:10:47.149> were<00:10:47.420> also<00:10:47.690> running<00:10:48.250> those 00:10:49.240 --> 00:10:49.250 align:start position:0% not only that were also running those 00:10:49.250 --> 00:10:52.960 align:start position:0% not only that were also running those compute<00:10:50.240> storage<00:10:50.510> resources<00:10:51.470> to<00:10:52.370> sustain 00:10:52.960 --> 00:10:52.970 align:start position:0% compute storage resources to sustain 00:10:52.970 --> 00:10:55.360 align:start position:0% compute storage resources to sustain business<00:10:53.630> and<00:10:53.959> economic<00:10:54.470> kennedys<00:10:54.890> right 00:10:55.360 --> 00:10:55.370 align:start position:0% business and economic kennedys right 00:10:55.370 --> 00:10:57.970 align:start position:0% business and economic kennedys right through<00:10:55.640> these<00:10:55.730> kind<00:10:55.970> of<00:10:56.000> complex<00:10:56.420> like<00:10:56.980> value 00:10:57.970 --> 00:10:57.980 align:start position:0% through these kind of complex like value 00:10:57.980 --> 00:11:00.280 align:start position:0% through these kind of complex like value chains<00:10:58.279> so<00:10:59.060> if<00:10:59.240> you're<00:10:59.390> using<00:10:59.570> you<00:11:00.020> know<00:11:00.110> main 00:11:00.280 --> 00:11:00.290 align:start position:0% chains so if you're using you know main 00:11:00.290 --> 00:11:02.470 align:start position:0% chains so if you're using you know main applications<00:11:01.010> today<00:11:01.220> like<00:11:01.459> Facebook<00:11:01.940> you 00:11:02.470 --> 00:11:02.480 align:start position:0% applications today like Facebook you 00:11:02.480 --> 00:11:05.079 align:start position:0% applications today like Facebook you know<00:11:02.600> you<00:11:02.660> might<00:11:02.990> have<00:11:03.020> a<00:11:03.260> user<00:11:03.880> watch<00:11:04.880> your 00:11:05.079 --> 00:11:05.089 align:start position:0% know you might have a user watch your 00:11:05.089 --> 00:11:07.000 align:start position:0% know you might have a user watch your past<00:11:05.300> that's<00:11:05.750> the<00:11:05.959> one<00:11:06.110> station<00:11:06.560> strategy 00:11:07.000 --> 00:11:07.010 align:start position:0% past that's the one station strategy 00:11:07.010 --> 00:11:09.940 align:start position:0% past that's the one station strategy that<00:11:07.250> kind<00:11:07.459> of<00:11:07.550> indirectly<00:11:08.029> goes<00:11:08.360> to<00:11:08.830> you<00:11:09.830> know 00:11:09.940 --> 00:11:09.950 align:start position:0% that kind of indirectly goes to you know 00:11:09.950 --> 00:11:11.769 align:start position:0% that kind of indirectly goes to you know that<00:11:10.399> goes<00:11:10.670> to<00:11:10.880> Facebook<00:11:11.029> and<00:11:11.450> then<00:11:11.570> Facebook 00:11:11.769 --> 00:11:11.779 align:start position:0% that goes to Facebook and then Facebook 00:11:11.779 --> 00:11:15.160 align:start position:0% that goes to Facebook and then Facebook we<00:11:12.170> browse<00:11:12.380> that<00:11:12.589> value<00:11:13.040> to<00:11:13.370> this<00:11:14.080> you<00:11:15.080> know 00:11:15.160 --> 00:11:15.170 align:start position:0% we browse that value to this you know 00:11:15.170 --> 00:11:17.160 align:start position:0% we browse that value to this you know computer<00:11:15.650> sort<00:11:15.890> of<00:11:15.920> resources<00:11:16.459> to<00:11:16.610> keep 00:11:17.160 --> 00:11:17.170 align:start position:0% computer sort of resources to keep 00:11:17.170 --> 00:11:19.660 align:start position:0% computer sort of resources to keep service<00:11:18.170> right<00:11:18.410> and<00:11:19.100> so<00:11:19.279> we're<00:11:19.400> in<00:11:19.459> this<00:11:19.520> world 00:11:19.660 --> 00:11:19.670 align:start position:0% service right and so we're in this world 00:11:19.670 --> 00:11:21.220 align:start position:0% service right and so we're in this world today<00:11:19.880> where<00:11:20.150> if<00:11:20.209> the<00:11:20.300> business<00:11:20.600> stuff<00:11:20.750> you 00:11:21.220 --> 00:11:21.230 align:start position:0% today where if the business stuff you 00:11:21.230 --> 00:11:23.380 align:start position:0% today where if the business stuff you know<00:11:21.350> working<00:11:21.589> my<00:11:22.220> stuff<00:11:22.430> and<00:11:23.060> for<00:11:23.270> those 00:11:23.380 --> 00:11:23.390 align:start position:0% know working my stuff and for those 00:11:23.390 --> 00:11:25.990 align:start position:0% know working my stuff and for those resources<00:11:23.570> then<00:11:24.170> everything<00:11:25.010> stops<00:11:25.610> working 00:11:25.990 --> 00:11:26.000 align:start position:0% resources then everything stops working 00:11:26.000 --> 00:11:29.079 align:start position:0% resources then everything stops working and<00:11:26.690> that's<00:11:26.870> what<00:11:27.170> I<00:11:27.200> wanna<00:11:27.350> focus<00:11:27.500> on<00:11:28.089> today 00:11:29.079 --> 00:11:29.089 align:start position:0% and that's what I wanna focus on today 00:11:29.089 --> 00:11:31.030 align:start position:0% and that's what I wanna focus on today about<00:11:29.540> doing<00:11:29.900> an<00:11:29.990> analogy<00:11:30.440> is<00:11:30.589> would<00:11:30.740> be<00:11:30.860> like 00:11:31.030 --> 00:11:31.040 align:start position:0% about doing an analogy is would be like 00:11:31.040 --> 00:11:34.420 align:start position:0% about doing an analogy is would be like if<00:11:31.730> when<00:11:31.970> we<00:11:32.060> want<00:11:32.240> a<00:11:32.300> television<00:11:33.160> from<00:11:34.160> like<00:11:34.370> a 00:11:34.420 --> 00:11:34.430 align:start position:0% if when we want a television from like a 00:11:34.430 --> 00:11:36.699 align:start position:0% if when we want a television from like a company<00:11:34.730> you<00:11:34.910> were<00:11:35.060> also<00:11:35.450> like<00:11:35.480> buying<00:11:36.170> the 00:11:36.699 --> 00:11:36.709 align:start position:0% company you were also like buying the 00:11:36.709 --> 00:11:39.010 align:start position:0% company you were also like buying the electricity<00:11:37.279> to<00:11:37.850> run<00:11:38.000> a<00:11:38.060> television<00:11:38.450> from<00:11:38.959> a 00:11:39.010 --> 00:11:39.020 align:start position:0% electricity to run a television from a 00:11:39.020 --> 00:11:41.390 align:start position:0% electricity to run a television from a company<00:11:39.500> like<00:11:39.709> that's<00:11:40.279> that's<00:11:40.640> kinda<00:11:40.970> cool 00:11:41.390 --> 00:11:41.400 align:start position:0% company like that's that's kinda cool 00:11:41.400 --> 00:11:45.650 align:start position:0% company like that's that's kinda cool today<00:11:41.850> with<00:11:42.089> the<00:11:42.360> software<00:11:44.270> so<00:11:45.270> the<00:11:45.390> answer<00:11:45.630> to 00:11:45.650 --> 00:11:45.660 align:start position:0% today with the software so the answer to 00:11:45.660 --> 00:11:47.600 align:start position:0% today with the software so the answer to this<00:11:45.839> I<00:11:46.020> use<00:11:46.440> will<00:11:46.770> stack<00:11:46.980> conceptualisation 00:11:47.600 --> 00:11:47.610 align:start position:0% this I use will stack conceptualisation 00:11:47.610 --> 00:11:49.430 align:start position:0% this I use will stack conceptualisation and<00:11:48.210> this<00:11:48.360> is<00:11:48.480> what<00:11:48.660> a<00:11:48.690> lot<00:11:48.960> of<00:11:49.020> us<00:11:49.170> in<00:11:49.350> the 00:11:49.430 --> 00:11:49.440 align:start position:0% and this is what a lot of us in the 00:11:49.440 --> 00:11:53.030 align:start position:0% and this is what a lot of us in the space<00:11:49.650> are<00:11:49.890> working<00:11:50.130> to<00:11:50.220> works<00:11:51.830> right<00:11:52.830> now 00:11:53.030 --> 00:11:53.040 align:start position:0% space are working to works right now 00:11:53.040 --> 00:11:54.769 align:start position:0% space are working to works right now we're<00:11:53.370> kind<00:11:53.580> of<00:11:53.610> just<00:11:54.089> at<00:11:54.270> the<00:11:54.360> bottom<00:11:54.660> of<00:11:54.720> the 00:11:54.769 --> 00:11:54.779 align:start position:0% we're kind of just at the bottom of the 00:11:54.779 --> 00:11:57.860 align:start position:0% we're kind of just at the bottom of the stack<00:11:55.080> right<00:11:56.120> you<00:11:57.120> know<00:11:57.270> the<00:11:57.480> networking 00:11:57.860 --> 00:11:57.870 align:start position:0% stack right you know the networking 00:11:57.870 --> 00:11:59.690 align:start position:0% stack right you know the networking layer<00:11:58.020> of<00:11:58.380> stack<00:11:58.710> is<00:11:59.070> what<00:11:59.250> we've<00:11:59.400> come<00:11:59.610> to 00:11:59.690 --> 00:11:59.700 align:start position:0% layer of stack is what we've come to 00:11:59.700 --> 00:12:01.880 align:start position:0% layer of stack is what we've come to think<00:11:59.820> of<00:11:59.970> as<00:12:00.029> operating<00:12:00.839> like<00:12:01.110> a<00:12:01.140> utility 00:12:01.880 --> 00:12:01.890 align:start position:0% think of as operating like a utility 00:12:01.890 --> 00:12:05.480 align:start position:0% think of as operating like a utility which<00:12:02.850> is<00:12:02.880> to<00:12:03.180> say<00:12:03.390> that<00:12:03.650> the<00:12:04.650> value<00:12:04.890> flows 00:12:05.480 --> 00:12:05.490 align:start position:0% which is to say that the value flows 00:12:05.490 --> 00:12:07.160 align:start position:0% which is to say that the value flows that<00:12:05.760> keep<00:12:05.970> the<00:12:06.060> network<00:12:06.240> money<00:12:06.570> aren't 00:12:07.160 --> 00:12:07.170 align:start position:0% that keep the network money aren't 00:12:07.170 --> 00:12:08.990 align:start position:0% that keep the network money aren't directly<00:12:07.500> tied<00:12:07.890> to<00:12:07.920> the<00:12:08.130> businesses<00:12:08.880> that 00:12:08.990 --> 00:12:09.000 align:start position:0% directly tied to the businesses that 00:12:09.000 --> 00:12:10.970 align:start position:0% directly tied to the businesses that want<00:12:09.210> applications<00:12:09.750> on<00:12:09.870> that<00:12:09.900> network<00:12:10.380> right 00:12:10.970 --> 00:12:10.980 align:start position:0% want applications on that network right 00:12:10.980 --> 00:12:12.470 align:start position:0% want applications on that network right you<00:12:11.220> can<00:12:11.460> through<00:12:11.610> your<00:12:11.730> internet<00:12:11.910> service 00:12:12.470 --> 00:12:12.480 align:start position:0% you can through your internet service 00:12:12.480 --> 00:12:14.180 align:start position:0% you can through your internet service it's<00:12:12.750> not<00:12:12.960> like<00:12:13.080> your<00:12:13.260> reader<00:12:13.500> uses<00:12:13.920> or<00:12:14.040> that 00:12:14.180 --> 00:12:14.190 align:start position:0% it's not like your reader uses or that 00:12:14.190 --> 00:12:16.790 align:start position:0% it's not like your reader uses or that service<00:12:14.400> and<00:12:14.820> a<00:12:15.600> future<00:12:15.810> that's<00:12:16.230> not<00:12:16.350> we<00:12:16.589> think 00:12:16.790 --> 00:12:16.800 align:start position:0% service and a future that's not we think 00:12:16.800 --> 00:12:19.180 align:start position:0% service and a future that's not we think every<00:12:17.400> part<00:12:17.880> of<00:12:17.970> the<00:12:18.060> application<00:12:18.630> stack 00:12:19.180 --> 00:12:19.190 align:start position:0% every part of the application stack 00:12:19.190 --> 00:12:24.980 align:start position:0% every part of the application stack should<00:12:20.190> work<00:12:20.400> so<00:12:23.270> we're<00:12:24.270> focused<00:12:24.600> on<00:12:24.690> two 00:12:24.980 --> 00:12:24.990 align:start position:0% should work so we're focused on two 00:12:24.990 --> 00:12:28.130 align:start position:0% should work so we're focused on two major<00:12:25.470> parts<00:12:25.830> of<00:12:25.950> this<00:12:26.060> one<00:12:27.060> is<00:12:27.210> data<00:12:27.510> storage 00:12:28.130 --> 00:12:28.140 align:start position:0% major parts of this one is data storage 00:12:28.140 --> 00:12:30.769 align:start position:0% major parts of this one is data storage which<00:12:28.529> we<00:12:28.650> saw<00:12:28.830> in<00:12:28.890> the<00:12:28.950> previous<00:12:29.130> slide<00:12:29.779> so 00:12:30.769 --> 00:12:30.779 align:start position:0% which we saw in the previous slide so 00:12:30.779 --> 00:12:32.810 align:start position:0% which we saw in the previous slide so instead<00:12:31.110> of<00:12:31.170> having<00:12:31.650> web<00:12:32.339> pages<00:12:32.550> like 00:12:32.810 --> 00:12:32.820 align:start position:0% instead of having web pages like 00:12:32.820 --> 00:12:34.820 align:start position:0% instead of having web pages like Wikipedia<00:12:33.330> that<00:12:33.390> be<00:12:33.540> tied<00:12:33.779> to<00:12:34.140> specific 00:12:34.820 --> 00:12:34.830 align:start position:0% Wikipedia that be tied to specific 00:12:34.830 --> 00:12:37.250 align:start position:0% Wikipedia that be tied to specific locations<00:12:35.730> on<00:12:35.850> the<00:12:35.940> network<00:12:36.300> like<00:12:36.720> a<00:12:36.750> physical 00:12:37.250 --> 00:12:37.260 align:start position:0% locations on the network like a physical 00:12:37.260 --> 00:12:40.040 align:start position:0% locations on the network like a physical box<00:12:37.410> we<00:12:38.339> can<00:12:38.610> address<00:12:39.000> these<00:12:39.330> things<00:12:39.570> by<00:12:39.990> the 00:12:40.040 --> 00:12:40.050 align:start position:0% box we can address these things by the 00:12:40.050 --> 00:12:42.470 align:start position:0% box we can address these things by the information<00:12:40.710> that<00:12:40.860> they<00:12:40.980> contain<00:12:41.370> so<00:12:42.240> this<00:12:42.330> is 00:12:42.470 --> 00:12:42.480 align:start position:0% information that they contain so this is 00:12:42.480 --> 00:12:46.550 align:start position:0% information that they contain so this is called<00:12:42.660> content<00:12:43.140> addressing<00:12:43.610> and<00:12:44.870> then<00:12:45.870> you 00:12:46.550 --> 00:12:46.560 align:start position:0% called content addressing and then you 00:12:46.560 --> 00:12:49.670 align:start position:0% called content addressing and then you can<00:12:46.740> use<00:12:46.890> that<00:12:46.920> content<00:12:47.459> address<00:12:47.820> to<00:12:48.600> go<00:12:49.440> to<00:12:49.500> a 00:12:49.670 --> 00:12:49.680 align:start position:0% can use that content address to go to a 00:12:49.680 --> 00:12:52.370 align:start position:0% can use that content address to go to a decentralized<00:12:50.310> network<00:12:50.760> of<00:12:50.970> note<00:12:51.839> operators 00:12:52.370 --> 00:12:52.380 align:start position:0% decentralized network of note operators 00:12:52.380 --> 00:12:55.100 align:start position:0% decentralized network of note operators and<00:12:52.650> say<00:12:52.860> okay<00:12:53.279> who<00:12:53.700> has<00:12:53.910> this<00:12:54.300> piece<00:12:54.930> of 00:12:55.100 --> 00:12:55.110 align:start position:0% and say okay who has this piece of 00:12:55.110 --> 00:12:57.170 align:start position:0% and say okay who has this piece of information<00:12:55.279> but<00:12:56.279> no<00:12:56.430> longer<00:12:56.550> have<00:12:56.850> we<00:12:56.970> want 00:12:57.170 --> 00:12:57.180 align:start position:0% information but no longer have we want 00:12:57.180 --> 00:12:59.090 align:start position:0% information but no longer have we want to<00:12:57.240> hold<00:12:57.390> the<00:12:57.660> information<00:12:57.800> with<00:12:58.800> a<00:12:58.830> specific 00:12:59.090 --> 00:12:59.100 align:start position:0% to hold the information with a specific 00:12:59.100 --> 00:13:00.750 align:start position:0% to hold the information with a specific location<00:12:59.790> where<00:13:00.120> you<00:13:00.180> can<00:13:00.240> find 00:13:00.750 --> 00:13:00.760 align:start position:0% location where you can find 00:13:00.760 --> 00:13:04.950 align:start position:0% location where you can find a<00:13:00.790> nation<00:13:02.940> with<00:13:03.940> services<00:13:04.480> it<00:13:04.600> becomes<00:13:04.900> a 00:13:04.950 --> 00:13:04.960 align:start position:0% a nation with services it becomes a 00:13:04.960 --> 00:13:07.110 align:start position:0% a nation with services it becomes a little<00:13:05.080> bit<00:13:05.200> more<00:13:05.470> involved<00:13:06.190> not<00:13:06.580> only<00:13:06.640> now<00:13:06.970> if 00:13:07.110 --> 00:13:07.120 align:start position:0% little bit more involved not only now if 00:13:07.120 --> 00:13:10.860 align:start position:0% little bit more involved not only now if we<00:13:07.240> want<00:13:07.450> to<00:13:07.800> be<00:13:08.800> couple<00:13:09.190> the<00:13:09.870> information 00:13:10.860 --> 00:13:10.870 align:start position:0% we want to be couple the information 00:13:10.870 --> 00:13:12.600 align:start position:0% we want to be couple the information from<00:13:11.020> the<00:13:11.140> physical<00:13:11.530> location<00:13:11.950> we<00:13:12.130> also<00:13:12.280> want 00:13:12.600 --> 00:13:12.610 align:start position:0% from the physical location we also want 00:13:12.610 --> 00:13:15.870 align:start position:0% from the physical location we also want to<00:13:12.640> decouple<00:13:13.480> the<00:13:13.720> value<00:13:14.020> flows<00:13:14.350> so<00:13:15.220> in<00:13:15.790> this 00:13:15.870 --> 00:13:15.880 align:start position:0% to decouple the value flows so in this 00:13:15.880 --> 00:13:17.790 align:start position:0% to decouple the value flows so in this diagram<00:13:16.060> is<00:13:16.540> that<00:13:16.750> you<00:13:17.080> know<00:13:17.170> the<00:13:17.290> developer 00:13:17.790 --> 00:13:17.800 align:start position:0% diagram is that you know the developer 00:13:17.800 --> 00:13:20.070 align:start position:0% diagram is that you know the developer who<00:13:18.640> builds<00:13:18.940> the<00:13:18.970> application<00:13:19.630> deploys<00:13:20.050> the 00:13:20.070 --> 00:13:20.080 align:start position:0% who builds the application deploys the 00:13:20.080 --> 00:13:22.170 align:start position:0% who builds the application deploys the logic<00:13:20.680> to<00:13:20.710> this<00:13:20.920> decentralized<00:13:21.340> network<00:13:22.060> of 00:13:22.170 --> 00:13:22.180 align:start position:0% logic to this decentralized network of 00:13:22.180 --> 00:13:24.240 align:start position:0% logic to this decentralized network of service<00:13:22.450> providers<00:13:22.870> but<00:13:23.110> then<00:13:23.830> the<00:13:23.920> value 00:13:24.240 --> 00:13:24.250 align:start position:0% service providers but then the value 00:13:24.250 --> 00:13:26.700 align:start position:0% service providers but then the value flows<00:13:24.520> that<00:13:24.760> keep<00:13:24.970> that<00:13:25.150> service<00:13:26.140> running<00:13:26.410> our 00:13:26.700 --> 00:13:26.710 align:start position:0% flows that keep that service running our 00:13:26.710 --> 00:13:29.700 align:start position:0% flows that keep that service running our direct<00:13:27.070> between<00:13:27.430> the<00:13:27.550> end<00:13:27.700> user<00:13:28.000> and<00:13:28.710> a 00:13:29.700 --> 00:13:29.710 align:start position:0% direct between the end user and a 00:13:29.710 --> 00:13:33.120 align:start position:0% direct between the end user and a network<00:13:30.640> right<00:13:31.480> so<00:13:31.720> this<00:13:32.020> developer<00:13:32.530> wants<00:13:33.100> to 00:13:33.120 --> 00:13:33.130 align:start position:0% network right so this developer wants to 00:13:33.130 --> 00:13:34.530 align:start position:0% network right so this developer wants to walk<00:13:33.340> away<00:13:33.490> he<00:13:33.760> wants<00:13:33.970> to<00:13:34.060> work<00:13:34.180> on<00:13:34.330> something 00:13:34.530 --> 00:13:34.540 align:start position:0% walk away he wants to work on something 00:13:34.540 --> 00:13:37.130 align:start position:0% walk away he wants to work on something else<00:13:34.780> you<00:13:35.230> know<00:13:35.350> goes<00:13:35.620> out<00:13:35.770> of<00:13:35.800> business 00:13:37.130 --> 00:13:37.140 align:start position:0% else you know goes out of business 00:13:37.140 --> 00:13:39.810 align:start position:0% else you know goes out of business this<00:13:38.140> piece<00:13:38.440> of<00:13:38.470> infrastructure<00:13:39.160> continues 00:13:39.810 --> 00:13:39.820 align:start position:0% this piece of infrastructure continues 00:13:39.820 --> 00:13:43.650 align:start position:0% this piece of infrastructure continues to<00:13:39.970> operate<00:13:41.820> this<00:13:42.820> is<00:13:42.940> how<00:13:43.060> variant<00:13:43.480> works 00:13:43.650 --> 00:13:43.660 align:start position:0% to operate this is how variant works 00:13:43.660 --> 00:13:46.080 align:start position:0% to operate this is how variant works right<00:13:44.020> you<00:13:44.620> know<00:13:44.740> the<00:13:45.010> developers<00:13:45.490> you<00:13:46.060> know 00:13:46.080 --> 00:13:46.090 align:start position:0% right you know the developers you know 00:13:46.090 --> 00:13:49.530 align:start position:0% right you know the developers you know deploy<00:13:46.450> our<00:13:46.840> contract<00:13:47.670> but<00:13:48.670> you<00:13:49.150> unless 00:13:49.530 --> 00:13:49.540 align:start position:0% deploy our contract but you unless 00:13:49.540 --> 00:13:51.480 align:start position:0% deploy our contract but you unless there's<00:13:49.810> some<00:13:49.990> weird<00:13:50.500> logic<00:13:50.920> built<00:13:51.070> into<00:13:51.370> it 00:13:51.480 --> 00:13:51.490 align:start position:0% there's some weird logic built into it 00:13:51.490 --> 00:13:52.950 align:start position:0% there's some weird logic built into it you<00:13:51.520> wouldn't<00:13:51.790> expect<00:13:52.060> it<00:13:52.210> to<00:13:52.300> stop<00:13:52.540> working 00:13:52.950 --> 00:13:52.960 align:start position:0% you wouldn't expect it to stop working 00:13:52.960 --> 00:13:54.360 align:start position:0% you wouldn't expect it to stop working you<00:13:53.140> know<00:13:53.260> most<00:13:53.440> definite<00:13:53.710> other<00:13:54.010> walks<00:13:54.220> away 00:13:54.360 --> 00:13:54.370 align:start position:0% you know most definite other walks away 00:13:54.370 --> 00:13:56.570 align:start position:0% you know most definite other walks away it's<00:13:54.670> going<00:13:54.940> to<00:13:55.000> be<00:13:55.060> current<00:13:55.660> infrastructure 00:13:56.570 --> 00:13:56.580 align:start position:0% it's going to be current infrastructure 00:13:56.580 --> 00:13:58.710 align:start position:0% it's going to be current infrastructure this<00:13:57.580> is<00:13:57.730> how<00:13:57.880> they<00:13:58.090> are<00:13:58.210> to<00:13:58.390> service 00:13:58.710 --> 00:13:58.720 align:start position:0% this is how they are to service 00:13:58.720 --> 00:14:00.720 align:start position:0% this is how they are to service protocols<00:13:59.200> like<00:13:59.410> the<00:13:59.560> graphic<00:13:59.950> or<00:14:00.070> black<00:14:00.400> pure 00:14:00.720 --> 00:14:00.730 align:start position:0% protocols like the graphic or black pure 00:14:00.730 --> 00:14:03.150 align:start position:0% protocols like the graphic or black pure work<00:14:01.080> we're<00:14:02.080> in<00:14:02.230> a<00:14:02.320> forest<00:14:02.590> you<00:14:02.830> deploy<00:14:03.130> a 00:14:03.150 --> 00:14:03.160 align:start position:0% work we're in a forest you deploy a 00:14:03.160 --> 00:14:05.610 align:start position:0% work we're in a forest you deploy a subgraph<00:14:03.670> to<00:14:03.850> the<00:14:03.940> graph<00:14:04.180> which<00:14:04.870> defines<00:14:05.260> your 00:14:05.610 --> 00:14:05.620 align:start position:0% subgraph to the graph which defines your 00:14:05.620 --> 00:14:07.620 align:start position:0% subgraph to the graph which defines your you<00:14:06.220> know<00:14:06.310> the<00:14:06.430> query<00:14:06.760> and<00:14:07.030> indexing<00:14:07.480> layer 00:14:07.620 --> 00:14:07.630 align:start position:0% you know the query and indexing layer 00:14:07.630 --> 00:14:08.760 align:start position:0% you know the query and indexing layer for<00:14:07.930> your<00:14:08.020> application 00:14:08.760 --> 00:14:08.770 align:start position:0% for your application 00:14:08.770 --> 00:14:11.100 align:start position:0% for your application but<00:14:09.190> once<00:14:09.370> that's<00:14:09.520> deployed<00:14:10.180> is<00:14:10.600> these<00:14:10.810> value 00:14:11.100 --> 00:14:11.110 align:start position:0% but once that's deployed is these value 00:14:11.110 --> 00:14:13.170 align:start position:0% but once that's deployed is these value close<00:14:11.380> between<00:14:11.620> the<00:14:11.950> graph<00:14:12.160> and<00:14:12.490> the<00:14:12.640> end<00:14:12.790> user 00:14:13.170 --> 00:14:13.180 align:start position:0% close between the graph and the end user 00:14:13.180 --> 00:14:15.720 align:start position:0% close between the graph and the end user that<00:14:13.330> keep<00:14:13.570> that<00:14:14.130> piece<00:14:15.130> of<00:14:15.250> infrastructure 00:14:15.720 --> 00:14:15.730 align:start position:0% that keep that piece of infrastructure 00:14:15.730 --> 00:14:21.210 align:start position:0% that keep that piece of infrastructure working<00:14:19.050> so<00:14:20.050> the<00:14:20.170> goal<00:14:20.320> here<00:14:20.500> is<00:14:20.530> postdoc<00:14:21.010> you 00:14:21.210 --> 00:14:21.220 align:start position:0% working so the goal here is postdoc you 00:14:21.220 --> 00:14:22.500 align:start position:0% working so the goal here is postdoc you centralization<00:14:21.910> right<00:14:22.090> and<00:14:22.240> this<00:14:22.330> is<00:14:22.480> what 00:14:22.500 --> 00:14:22.510 align:start position:0% centralization right and this is what 00:14:22.510 --> 00:14:24.000 align:start position:0% centralization right and this is what we're<00:14:22.720> going<00:14:22.840> to<00:14:22.930> see<00:14:23.320> over<00:14:23.350> the<00:14:23.620> next<00:14:23.830> few 00:14:24.000 --> 00:14:24.010 align:start position:0% we're going to see over the next few 00:14:24.010 --> 00:14:25.740 align:start position:0% we're going to see over the next few years<00:14:24.070> that<00:14:24.340> for<00:14:24.730> every<00:14:25.000> piece<00:14:25.240> of<00:14:25.270> the<00:14:25.480> stack 00:14:25.740 --> 00:14:25.750 align:start position:0% years that for every piece of the stack 00:14:25.750 --> 00:14:26.530 align:start position:0% years that for every piece of the stack we're<00:14:26.020> going<00:14:26.140> to 00:14:26.530 --> 00:14:26.540 align:start position:0% we're going to 00:14:26.540 --> 00:14:29.530 align:start position:0% we're going to the<00:14:26.660> service<00:14:27.650> network<00:14:28.100> either<00:14:28.700> a<00:14:28.850> base<00:14:29.240> layer 00:14:29.530 --> 00:14:29.540 align:start position:0% the service network either a base layer 00:14:29.540 --> 00:14:31.780 align:start position:0% the service network either a base layer of<00:14:29.660> their<00:14:29.900> to<00:14:30.200> later<00:14:30.530> three<00:14:30.860> that<00:14:31.460> kind<00:14:31.700> of 00:14:31.780 --> 00:14:31.790 align:start position:0% of their to later three that kind of 00:14:31.790 --> 00:14:35.020 align:start position:0% of their to later three that kind of adopts<00:14:32.240> these<00:14:32.480> properties<00:14:33.020> we're<00:14:33.820> really<00:14:34.820> the 00:14:35.020 --> 00:14:35.030 align:start position:0% adopts these properties we're really the 00:14:35.030 --> 00:14:36.970 align:start position:0% adopts these properties we're really the only<00:14:35.180> thing<00:14:35.510> that's<00:14:35.720> a<00:14:35.900> product<00:14:36.320> is<00:14:36.440> this<00:14:36.590> very 00:14:36.970 --> 00:14:36.980 align:start position:0% only thing that's a product is this very 00:14:36.980 --> 00:14:39.400 align:start position:0% only thing that's a product is this very top<00:14:37.370> little<00:14:37.700> thing<00:14:37.910> you<00:14:38.240> know<00:14:38.270> the<00:14:38.720> front<00:14:39.290> end 00:14:39.400 --> 00:14:39.410 align:start position:0% top little thing you know the front end 00:14:39.410 --> 00:14:41.560 align:start position:0% top little thing you know the front end application<00:14:39.980> and<00:14:40.580> everything<00:14:40.700> below<00:14:41.120> that<00:14:41.450> is 00:14:41.560 --> 00:14:41.570 align:start position:0% application and everything below that is 00:14:41.570 --> 00:14:44.520 align:start position:0% application and everything below that is kind<00:14:42.050> of<00:14:42.080> based<00:14:42.320> on<00:14:42.500> like<00:14:42.620> the<00:14:42.710> meter<00:14:42.920> usage 00:14:44.520 --> 00:14:44.530 align:start position:0% kind of based on like the meter usage 00:14:44.530 --> 00:14:51.060 align:start position:0% kind of based on like the meter usage not<00:14:45.530> yet<00:14:45.740> user<00:14:48.730> so<00:14:49.730> this<00:14:49.850> is<00:14:49.970> part<00:14:50.600> of<00:14:50.660> the<00:14:50.750> long 00:14:51.060 --> 00:14:51.070 align:start position:0% not yet user so this is part of the long 00:14:51.070 --> 00:14:53.800 align:start position:0% not yet user so this is part of the long path<00:14:52.070> that<00:14:52.400> we've<00:14:52.520> been<00:14:52.550> on<00:14:52.700> for<00:14:53.060> for<00:14:53.690> some 00:14:53.800 --> 00:14:53.810 align:start position:0% path that we've been on for for some 00:14:53.810 --> 00:14:55.240 align:start position:0% path that we've been on for for some time<00:14:53.840> this<00:14:54.230> isn't<00:14:54.440> something<00:14:54.710> that<00:14:54.800> started 00:14:55.240 --> 00:14:55.250 align:start position:0% time this isn't something that started 00:14:55.250 --> 00:14:57.700 align:start position:0% time this isn't something that started with<00:14:55.400> decentralisation<00:14:56.170> so<00:14:57.170> we've<00:14:57.440> talked 00:14:57.700 --> 00:14:57.710 align:start position:0% with decentralisation so we've talked 00:14:57.710 --> 00:15:01.240 align:start position:0% with decentralisation so we've talked before<00:14:58.070> about<00:14:59.290> the<00:15:00.290> physical<00:15:00.800> media<00:15:01.100> and 00:15:01.240 --> 00:15:01.250 align:start position:0% before about the physical media and 00:15:01.250 --> 00:15:03.190 align:start position:0% before about the physical media and information<00:15:01.490> so<00:15:02.330> that<00:15:02.360> kind<00:15:02.690> of<00:15:02.720> started<00:15:03.110> with 00:15:03.190 --> 00:15:03.200 align:start position:0% information so that kind of started with 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great<00:15:11.030> talks<00:15:11.240> about<00:15:11.420> aggregation 00:15:11.860 --> 00:15:11.870 align:start position:0% temporary great talks about aggregation 00:15:11.870 --> 00:15:14.880 align:start position:0% temporary great talks about aggregation theory<00:15:12.350> and<00:15:12.470> how<00:15:12.650> the<00:15:12.710> internet<00:15:13.330> unbundled 00:15:14.880 --> 00:15:14.890 align:start position:0% theory and how the internet unbundled 00:15:14.890 --> 00:15:17.200 align:start position:0% theory and how the internet unbundled products<00:15:15.890> from<00:15:16.100> distribution<00:15:16.700> channels<00:15:17.030> and 00:15:17.200 --> 00:15:17.210 align:start position:0% products from distribution channels and 00:15:17.210 --> 00:15:19.180 align:start position:0% products from distribution channels and all<00:15:17.930> the<00:15:18.140> ways<00:15:18.290> in<00:15:18.470> which<00:15:18.530> that<00:15:18.740> you<00:15:19.070> know 00:15:19.180 --> 00:15:19.190 align:start position:0% all the ways in which that you know 00:15:19.190 --> 00:15:21.190 align:start position:0% all the ways in which that you know changed<00:15:19.520> our<00:15:19.640> economy<00:15:20.090> and<00:15:20.630> we<00:15:20.750> kind<00:15:21.050> of<00:15:21.110> leave 00:15:21.190 --> 00:15:21.200 align:start position:0% changed our economy and we kind of leave 00:15:21.200 --> 00:15:22.840 align:start position:0% changed our economy and we kind of leave this<00:15:21.410> as<00:15:21.560> being<00:15:21.830> like<00:15:21.980> the<00:15:22.100> logical<00:15:22.520> next<00:15:22.580> step 00:15:22.840 --> 00:15:22.850 align:start position:0% this as being like the logical next step 00:15:22.850 --> 00:15:25.600 align:start position:0% this as being like the logical next step to<00:15:23.300> aggregation<00:15:24.020> theory<00:15:24.350> we're<00:15:24.920> now<00:15:25.070> not<00:15:25.340> only 00:15:25.600 --> 00:15:25.610 align:start position:0% to aggregation theory we're now not only 00:15:25.610 --> 00:15:27.370 align:start position:0% to aggregation theory we're now not only a<00:15:25.640> bundle<00:15:26.150> you<00:15:26.780> know<00:15:26.900> products<00:15:27.290> from 00:15:27.370 --> 00:15:27.380 align:start position:0% a bundle you know products from 00:15:27.380 --> 00:15:29.310 align:start position:0% a bundle you know products from distribution<00:15:27.980> but<00:15:28.160> we<00:15:28.250> also<00:15:28.400> have<00:15:28.640> a<00:15:28.760> muddled 00:15:29.310 --> 00:15:29.320 align:start position:0% distribution but we also have a muddled 00:15:29.320 --> 00:15:32.530 align:start position:0% distribution but we also have a muddled you<00:15:30.320> know<00:15:30.440> information<00:15:30.920> and<00:15:31.520> software<00:15:32.180> from 00:15:32.530 --> 00:15:32.540 align:start position:0% you know information and software from 00:15:32.540 --> 00:15:34.960 align:start position:0% you know information and software from the<00:15:32.650> computer<00:15:33.650> storage<00:15:34.010> resources<00:15:34.520> required 00:15:34.960 --> 00:15:34.970 align:start position:0% the computer storage resources required 00:15:34.970 --> 00:15:41.320 align:start position:0% the computer storage resources required to<00:15:35.060> operate<00:15:36.790> and<00:15:38.350> yet<00:15:39.350> here<00:15:39.800> is<00:15:39.940> in<00:15:40.940> addition 00:15:41.320 --> 00:15:41.330 align:start position:0% to operate and yet here is in addition 00:15:41.330 --> 00:15:43.090 align:start position:0% to operate and yet here is in addition to<00:15:41.420> getting<00:15:41.510> stopped<00:15:41.990> unstoppable<00:15:42.710> products 00:15:43.090 --> 00:15:43.100 align:start position:0% to getting stopped unstoppable products 00:15:43.100 --> 00:15:45.190 align:start position:0% to getting stopped unstoppable products we<00:15:43.790> move<00:15:44.000> towards<00:15:44.270> an<00:15:44.360> economy<00:15:44.780> that<00:15:44.810> starts 00:15:45.190 --> 00:15:45.200 align:start position:0% we move towards an economy that starts 00:15:45.200 --> 00:15:48.700 align:start position:0% we move towards an economy that starts recognizing<00:15:45.950> the<00:15:46.880> time<00:15:47.180> and<00:15:47.690> you<00:15:48.440> know<00:15:48.530> labor 00:15:48.700 --> 00:15:48.710 align:start position:0% recognizing the time and you know labor 00:15:48.710 --> 00:15:50.770 align:start position:0% recognizing the time and you know labor that<00:15:49.010> time<00:15:49.850> and<00:15:50.000> data<00:15:50.120> the<00:15:50.330> neighbor<00:15:50.480> that<00:15:50.570> we 00:15:50.770 --> 00:15:50.780 align:start position:0% that time and data the neighbor that we 00:15:50.780 --> 00:15:53.440 align:start position:0% that time and data the neighbor that we put<00:15:50.990> into<00:15:51.110> our<00:15:51.340> the<00:15:52.340> products<00:15:52.670> that<00:15:52.760> we<00:15:52.880> use<00:15:53.090> as 00:15:53.440 --> 00:15:53.450 align:start position:0% put into our the products that we use as 00:15:53.450 --> 00:15:55.780 align:start position:0% put into our the products that we use as a<00:15:53.570> house<00:15:53.810> neighbor<00:15:54.140> right<00:15:54.620> so<00:15:54.950> you<00:15:55.550> know<00:15:55.640> these 00:15:55.780 --> 00:15:55.790 align:start position:0% a house neighbor right so you know these 00:15:55.790 --> 00:15:57.700 align:start position:0% a house neighbor right so you know these things<00:15:56.060> how<00:15:56.210> value<00:15:56.600> that<00:15:56.750> we<00:15:56.930> confer<00:15:57.290> do<00:15:57.410> it<00:15:57.530> by 00:15:57.700 --> 00:15:57.710 align:start position:0% things how value that we confer do it by 00:15:57.710 --> 00:16:00.250 align:start position:0% things how value that we confer do it by virtue<00:15:57.770> the<00:15:58.100> fact<00:15:58.130> that<00:15:58.490> we<00:15:58.640> used<00:15:58.880> it<00:15:59.090> and<00:16:00.080> so 00:16:00.250 --> 00:16:00.260 align:start position:0% virtue the fact that we used it and so 00:16:00.260 --> 00:16:01.510 align:start position:0% virtue the fact that we used it and so we<00:16:00.380> shouldn't<00:16:00.620> accept<00:16:00.890> the<00:16:01.040> world<00:16:01.250> in<00:16:01.370> which 00:16:01.510 --> 00:16:01.520 align:start position:0% we shouldn't accept the world in which 00:16:01.520 --> 00:16:04.450 align:start position:0% we shouldn't accept the world in which the<00:16:01.670> businesses<00:16:02.150> that<00:16:02.180> we<00:16:03.130> you<00:16:04.130> know<00:16:04.160> I 00:16:04.450 --> 00:16:04.460 align:start position:0% the businesses that we you know I 00:16:04.460 --> 00:16:06.700 align:start position:0% the businesses that we you know I software<00:16:05.030> from<00:16:05.240> how<00:16:05.510> powers<00:16:06.020> to<00:16:06.200> about 00:16:06.700 --> 00:16:06.710 align:start position:0% software from how powers to about 00:16:06.710 --> 00:16:09.640 align:start position:0% software from how powers to about as<00:16:07.070> far<00:16:07.400> as<00:16:07.430> fairly<00:16:07.870> I<00:16:08.870> think<00:16:09.290> this<00:16:09.410> is<00:16:09.530> going 00:16:09.640 --> 00:16:09.650 align:start position:0% as far as fairly I think this is going 00:16:09.650 --> 00:16:11.710 align:start position:0% as far as fairly I think this is going to<00:16:09.710> be<00:16:09.830> to<00:16:10.130> unlock<00:16:10.550> you<00:16:10.730> know<00:16:10.850> a<00:16:11.090> lot<00:16:11.570> of 00:16:11.710 --> 00:16:11.720 align:start position:0% to be to unlock you know a lot of 00:16:11.720 --> 00:16:14.070 align:start position:0% to be to unlock you know a lot of innovation<00:16:12.170> entrepreneurship<00:16:12.770> not<00:16:13.340> because 00:16:14.070 --> 00:16:14.080 align:start position:0% innovation entrepreneurship not because 00:16:14.080 --> 00:16:17.410 align:start position:0% innovation entrepreneurship not because consumers<00:16:15.080> will<00:16:15.260> be<00:16:15.380> more<00:16:16.270> amenable<00:16:17.270> to 00:16:17.410 --> 00:16:17.420 align:start position:0% consumers will be more amenable to 00:16:17.420 --> 00:16:18.940 align:start position:0% consumers will be more amenable to trying<00:16:17.840> out<00:16:18.020> new<00:16:18.080> products<00:16:18.770> with<00:16:18.890> the 00:16:18.940 --> 00:16:18.950 align:start position:0% trying out new products with the 00:16:18.950 --> 00:16:20.380 align:start position:0% trying out new products with the knowledge<00:16:19.130> that<00:16:19.430> these<00:16:19.580> things<00:16:19.820> won't<00:16:20.090> fail 00:16:20.380 --> 00:16:20.390 align:start position:0% knowledge that these things won't fail 00:16:20.390 --> 00:16:24.100 align:start position:0% knowledge that these things won't fail the<00:16:20.780> startup<00:16:21.470> fails<00:16:21.790> but<00:16:22.790> also<00:16:22.970> because<00:16:23.390> you 00:16:24.100 --> 00:16:24.110 align:start position:0% the startup fails but also because you 00:16:24.110 --> 00:16:26.650 align:start position:0% the startup fails but also because you know<00:16:24.230> going<00:16:24.440> back<00:16:24.530> to<00:16:24.650> that<00:16:25.540> you<00:16:26.540> know<00:16:26.630> a 00:16:26.650 --> 00:16:26.660 align:start position:0% know going back to that you know a 00:16:26.660 --> 00:16:30.670 align:start position:0% know going back to that you know a full-stack<00:16:27.110> slide<00:16:29.050> there's<00:16:30.050> going<00:16:30.230> to<00:16:30.290> be<00:16:30.350> so 00:16:30.670 --> 00:16:30.680 align:start position:0% full-stack slide there's going to be so 00:16:30.680 --> 00:16:33.940 align:start position:0% full-stack slide there's going to be so much<00:16:30.740> more<00:16:30.830> shared<00:16:32.740> shared<00:16:33.740> like 00:16:33.940 --> 00:16:33.950 align:start position:0% much more shared shared like 00:16:33.950 --> 00:16:35.770 align:start position:0% much more shared shared like infrastructure<00:16:34.550> for<00:16:34.910> new<00:16:35.060> developers<00:16:35.510> to<00:16:35.660> do 00:16:35.770 --> 00:16:35.780 align:start position:0% infrastructure for new developers to do 00:16:35.780 --> 00:16:37.960 align:start position:0% infrastructure for new developers to do businesses<00:16:36.170> to<00:16:36.350> go<00:16:36.500> on<00:16:36.740> rather<00:16:37.340> than<00:16:37.580> azmuth 00:16:37.960 --> 00:16:37.970 align:start position:0% businesses to go on rather than azmuth 00:16:37.970 --> 00:16:41.170 align:start position:0% businesses to go on rather than azmuth today<00:16:38.270> a<00:16:39.310> developer<00:16:40.310> wants<00:16:40.670> going<00:16:40.910> internet 00:16:41.170 --> 00:16:41.180 align:start position:0% today a developer wants going internet 00:16:41.180 --> 00:16:43.810 align:start position:0% today a developer wants going internet application<00:16:41.780> also<00:16:42.020> have<00:16:42.290> to<00:16:42.380> rewrite<00:16:42.740> TCP<00:16:43.550> and 00:16:43.810 --> 00:16:43.820 align:start position:0% application also have to rewrite TCP and 00:16:43.820 --> 00:16:45.490 align:start position:0% application also have to rewrite TCP and like<00:16:44.390> the<00:16:44.510> rest<00:16:44.630> of<00:16:44.750> the<00:16:44.870> networking<00:16:45.260> stack 00:16:45.490 --> 00:16:45.500 align:start position:0% like the rest of the networking stack 00:16:45.500 --> 00:16:46.660 align:start position:0% like the rest of the networking stack right<00:16:45.800> they<00:16:45.920> came<00:16:46.070> to<00:16:46.190> how<00:16:46.310> much<00:16:46.430> less 00:16:46.660 --> 00:16:46.670 align:start position:0% right they came to how much less 00:16:46.670 --> 00:16:49.270 align:start position:0% right they came to how much less innovation<00:16:47.030> you<00:16:47.300> get<00:16:47.570> but<00:16:48.410> that's<00:16:48.860> what<00:16:49.160> we're 00:16:49.270 --> 00:16:49.280 align:start position:0% innovation you get but that's what we're 00:16:49.280 --> 00:16:51.250 align:start position:0% innovation you get but that's what we're doing<00:16:49.550> with<00:16:49.700> the<00:16:50.630> rest<00:16:50.780> of<00:16:50.990> the<00:16:51.110> application 00:16:51.250 --> 00:16:51.260 align:start position:0% doing with the rest of the application 00:16:51.260 --> 00:16:52.030 align:start position:0% doing with the rest of the application stack 00:16:52.030 --> 00:16:52.040 align:start position:0% stack 00:16:52.040 --> 00:16:55.030 align:start position:0% stack today<00:16:52.250> right<00:16:53.500> the<00:16:54.500> other<00:16:54.590> thing<00:16:54.680> that<00:16:54.860> we're 00:16:55.030 --> 00:16:55.040 align:start position:0% today right the other thing that we're 00:16:55.040 --> 00:16:58.210 align:start position:0% today right the other thing that we're doing<00:16:55.070> here<00:16:55.310> is<00:16:55.550> were<00:16:55.700> unbundling<00:16:56.950> ideas<00:16:57.950> and 00:16:58.210 --> 00:16:58.220 align:start position:0% doing here is were unbundling ideas and 00:16:58.220 --> 00:17:01.180 align:start position:0% doing here is were unbundling ideas and labor<00:16:58.460> from<00:16:59.180> corporations<00:16:59.830> so<00:17:00.830> this<00:17:00.920> is<00:17:01.040> going 00:17:01.180 --> 00:17:01.190 align:start position:0% labor from corporations so this is going 00:17:01.190 --> 00:17:04.510 align:start position:0% labor from corporations so this is going to<00:17:01.250> change<00:17:01.360> the<00:17:02.360> nature<00:17:02.540> of<00:17:02.660> work<00:17:03.220> and<00:17:04.220> so<00:17:04.490> I 00:17:04.510 --> 00:17:04.520 align:start position:0% to change the nature of work and so I 00:17:04.520 --> 00:17:06.190 align:start position:0% to change the nature of work and so I think<00:17:04.670> it's<00:17:04.910> actually<00:17:05.060> going<00:17:05.360> to<00:17:05.480> change<00:17:05.630> work 00:17:06.190 --> 00:17:06.200 align:start position:0% think it's actually going to change work 00:17:06.200 --> 00:17:08.530 align:start position:0% think it's actually going to change work to<00:17:06.410> be<00:17:06.890> much<00:17:07.130> more<00:17:07.430> like<00:17:07.640> the<00:17:08.060> work<00:17:08.209> that<00:17:08.420> we've 00:17:08.530 --> 00:17:08.540 align:start position:0% to be much more like the work that we've 00:17:08.540 --> 00:17:10.960 align:start position:0% to be much more like the work that we've done<00:17:08.720> of<00:17:09.020> other<00:17:09.200> information<00:17:09.530> products<00:17:10.160> right 00:17:10.960 --> 00:17:10.970 align:start position:0% done of other information products right 00:17:10.970 --> 00:17:12.490 align:start position:0% done of other information products right so<00:17:11.240> like<00:17:11.390> the<00:17:11.540> way<00:17:11.660> movies<00:17:11.990> get<00:17:12.200> you<00:17:12.380> know 00:17:12.490 --> 00:17:12.500 align:start position:0% so like the way movies get you know 00:17:12.500 --> 00:17:14.199 align:start position:0% so like the way movies get you know built<00:17:12.709> for<00:17:12.890> example<00:17:13.310> when<00:17:13.400> you<00:17:13.459> kind<00:17:13.640> of<00:17:13.760> you 00:17:14.199 --> 00:17:14.209 align:start position:0% built for example when you kind of you 00:17:14.209 --> 00:17:15.670 align:start position:0% built for example when you kind of you know<00:17:14.300> how<00:17:14.480> they<00:17:14.660> do<00:17:14.900> that<00:17:14.930> you<00:17:15.200> assemble<00:17:15.589> a 00:17:15.670 --> 00:17:15.680 align:start position:0% know how they do that you assemble a 00:17:15.680 --> 00:17:17.440 align:start position:0% know how they do that you assemble a team<00:17:15.890> there's<00:17:16.250> kind<00:17:16.550> of<00:17:16.580> many<00:17:16.760> you<00:17:17.360> know 00:17:17.440 --> 00:17:17.450 align:start position:0% team there's kind of many you know 00:17:17.450 --> 00:17:19.210 align:start position:0% team there's kind of many you know contractors<00:17:18.200> or<00:17:18.380> you<00:17:18.530> know<00:17:18.650> consultants 00:17:19.210 --> 00:17:19.220 align:start position:0% contractors or you know consultants 00:17:19.220 --> 00:17:21.400 align:start position:0% contractors or you know consultants involved<00:17:19.400> and<00:17:20.000> that<00:17:20.570> team<00:17:20.750> gets<00:17:20.900> together<00:17:21.140> to 00:17:21.400 --> 00:17:21.410 align:start position:0% involved and that team gets together to 00:17:21.410 --> 00:17:23.320 align:start position:0% involved and that team gets together to like<00:17:21.740> build<00:17:22.070> this<00:17:22.220> information<00:17:22.790> product<00:17:23.180> and 00:17:23.320 --> 00:17:23.330 align:start position:0% like build this information product and 00:17:23.330 --> 00:17:24.490 align:start position:0% like build this information product and then<00:17:23.870> it's<00:17:24.020> done 00:17:24.490 --> 00:17:24.500 align:start position:0% then it's done 00:17:24.500 --> 00:17:26.320 align:start position:0% then it's done right<00:17:24.650> like<00:17:24.890> we<00:17:24.980> wouldn't<00:17:25.250> expect<00:17:25.430> you<00:17:26.180> know 00:17:26.320 --> 00:17:26.330 align:start position:0% right like we wouldn't expect you know 00:17:26.330 --> 00:17:27.820 align:start position:0% right like we wouldn't expect you know the<00:17:26.360> team<00:17:26.690> that<00:17:26.870> built<00:17:27.050> like<00:17:27.320> Jurassic<00:17:27.620> Park 00:17:27.820 --> 00:17:27.830 align:start position:0% the team that built like Jurassic Park 00:17:27.830 --> 00:17:30.190 align:start position:0% the team that built like Jurassic Park for<00:17:28.280> example<00:17:28.339> to<00:17:28.940> stick<00:17:29.270> around<00:17:29.390> for<00:17:29.660> 20<00:17:30.050> years 00:17:30.190 --> 00:17:30.200 align:start position:0% for example to stick around for 20 years 00:17:30.200 --> 00:17:32.620 align:start position:0% for example to stick around for 20 years as<00:17:30.470> a<00:17:30.500> corporation<00:17:30.950> and<00:17:31.250> I<00:17:31.340> like<00:17:31.550> monetize<00:17:32.360> is 00:17:32.620 --> 00:17:32.630 align:start position:0% as a corporation and I like monetize is 00:17:32.630 --> 00:17:35.140 align:start position:0% as a corporation and I like monetize is an<00:17:32.750> extract<00:17:33.080> value<00:17:33.590> from<00:17:33.620> Jurassic<00:17:34.280> Park<00:17:34.520> you 00:17:35.140 --> 00:17:35.150 align:start position:0% an extract value from Jurassic Park you 00:17:35.150 --> 00:17:36.730 align:start position:0% an extract value from Jurassic Park you know<00:17:35.240> instead<00:17:35.510> we<00:17:35.690> have<00:17:35.840> Studios<00:17:36.260> that<00:17:36.500> you 00:17:36.730 --> 00:17:36.740 align:start position:0% know instead we have Studios that you 00:17:36.740 --> 00:17:38.020 align:start position:0% know instead we have Studios that you know<00:17:36.830> come<00:17:37.100> together<00:17:37.220> and<00:17:37.580> build<00:17:37.730> you<00:17:38.000> know 00:17:38.020 --> 00:17:38.030 align:start position:0% know come together and build you know 00:17:38.030 --> 00:17:41.770 align:start position:0% know come together and build you know many<00:17:38.300> different<00:17:38.420> information<00:17:39.230> products<00:17:40.780> and 00:17:41.770 --> 00:17:41.780 align:start position:0% many different information products and 00:17:41.780 --> 00:17:42.940 align:start position:0% many different information products and the<00:17:41.870> other<00:17:42.020> thing<00:17:42.170> we're<00:17:42.470> going<00:17:42.560> to<00:17:42.650> see<00:17:42.770> here 00:17:42.940 --> 00:17:42.950 align:start position:0% the other thing we're going to see here 00:17:42.950 --> 00:17:45.490 align:start position:0% the other thing we're going to see here is<00:17:43.070> that<00:17:43.100> as<00:17:43.280> you<00:17:43.820> know<00:17:44.500> shared 00:17:45.490 --> 00:17:45.500 align:start position:0% is that as you know shared 00:17:45.500 --> 00:17:49.090 align:start position:0% is that as you know shared infrastructure<00:17:47.440> grows<00:17:48.440> we're<00:17:48.770> going<00:17:48.890> to<00:17:48.950> see 00:17:49.090 --> 00:17:49.100 align:start position:0% infrastructure grows we're going to see 00:17:49.100 --> 00:17:50.860 align:start position:0% infrastructure grows we're going to see billing<00:17:49.610> software<00:17:49.820> is<00:17:50.120> much<00:17:50.270> more<00:17:50.510> small 00:17:50.860 --> 00:17:50.870 align:start position:0% billing software is much more small 00:17:50.870 --> 00:17:52.540 align:start position:0% billing software is much more small business<00:17:51.200> activity<00:17:51.710> right<00:17:52.220> we're<00:17:52.370> going<00:17:52.490> to 00:17:52.540 --> 00:17:52.550 align:start position:0% business activity right we're going to 00:17:52.550 --> 00:17:56.160 align:start position:0% business activity right we're going to reduce<00:17:52.670> the<00:17:53.090> barrier<00:17:53.630> of<00:17:53.660> entry<00:17:53.780> to<00:17:54.410> building 00:17:56.160 --> 00:17:56.170 align:start position:0% reduce the barrier of entry to building 00:17:56.170 --> 00:17:58.600 align:start position:0% reduce the barrier of entry to building useful<00:17:57.170> and<00:17:57.350> needs<00:17:57.710> to<00:17:57.830> complications<00:17:58.490> that 00:17:58.600 --> 00:17:58.610 align:start position:0% useful and needs to complications that 00:17:58.610 --> 00:18:00.490 align:start position:0% useful and needs to complications that maybe<00:17:58.940> wouldn't<00:17:59.660> have<00:17:59.900> worked<00:18:00.140> in<00:18:00.260> a<00:18:00.320> world 00:18:00.490 --> 00:18:00.500 align:start position:0% maybe wouldn't have worked in a world 00:18:00.500 --> 00:18:02.470 align:start position:0% maybe wouldn't have worked in a world where<00:18:00.800> depends<00:18:01.430> you<00:18:01.760> know<00:18:01.820> you<00:18:02.030> had<00:18:02.180> to<00:18:02.330> be 00:18:02.470 --> 00:18:02.480 align:start position:0% where depends you know you had to be 00:18:02.480 --> 00:18:04.600 align:start position:0% where depends you know you had to be built<00:18:02.720> into<00:18:03.350> our<00:18:03.440> personal<00:18:03.740> snack<00:18:04.190> just<00:18:04.220> to 00:18:04.600 --> 00:18:04.610 align:start position:0% built into our personal snack just to 00:18:04.610 --> 00:18:09.430 align:start position:0% built into our personal snack just to build<00:18:04.970> something<00:18:05.270> new<00:18:05.540> and<00:18:05.720> useful<00:18:08.410> you<00:18:09.410> know 00:18:09.430 --> 00:18:09.440 align:start position:0% build something new and useful you know 00:18:09.440 --> 00:18:11.050 align:start position:0% build something new and useful you know the<00:18:10.070> reason<00:18:10.310> I<00:18:10.340> want<00:18:10.520> to<00:18:10.550> talk<00:18:10.730> about<00:18:10.880> this 00:18:11.050 --> 00:18:11.060 align:start position:0% the reason I want to talk about this 00:18:11.060 --> 00:18:13.030 align:start position:0% the reason I want to talk about this today<00:18:11.270> is<00:18:11.450> just<00:18:11.600> said<00:18:11.810> I<00:18:12.080> think<00:18:12.560> we<00:18:12.680> tend<00:18:12.950> to 00:18:13.030 --> 00:18:13.040 align:start position:0% today is just said I think we tend to 00:18:13.040 --> 00:18:14.910 align:start position:0% today is just said I think we tend to get<00:18:13.160> caught<00:18:13.370> up<00:18:13.400> a<00:18:13.580> lot<00:18:13.730> on<00:18:14.000> the<00:18:14.210> idealism 00:18:14.910 --> 00:18:14.920 align:start position:0% get caught up a lot on the idealism 00:18:14.920 --> 00:18:17.080 align:start position:0% get caught up a lot on the idealism about<00:18:15.920> 3:00<00:18:16.190> and<00:18:16.340> like<00:18:16.460> I<00:18:16.550> think<00:18:16.760> that<00:18:16.880> times 00:18:17.080 --> 00:18:17.090 align:start position:0% about 3:00 and like I think that times 00:18:17.090 --> 00:18:18.940 align:start position:0% about 3:00 and like I think that times sometimes<00:18:17.750> that<00:18:18.200> face<00:18:18.380> it<00:18:18.500> disconnect 00:18:18.940 --> 00:18:18.950 align:start position:0% sometimes that face it disconnect 00:18:18.950 --> 00:18:21.610 align:start position:0% sometimes that face it disconnect between<00:18:19.510> you<00:18:20.510> know<00:18:20.630> people<00:18:20.990> on<00:18:21.050> this<00:18:21.200> base<00:18:21.410> of 00:18:21.610 --> 00:18:21.620 align:start position:0% between you know people on this base of 00:18:21.620 --> 00:18:23.110 align:start position:0% between you know people on this base of a<00:18:21.680> really<00:18:21.890> excited<00:18:22.310> and<00:18:22.430> I<00:18:22.550> don't<00:18:22.700> mean<00:18:22.820> to<00:18:22.880> try 00:18:23.110 --> 00:18:23.120 align:start position:0% a really excited and I don't mean to try 00:18:23.120 --> 00:18:24.850 align:start position:0% a really excited and I don't mean to try and<00:18:23.210> talk<00:18:23.390> about<00:18:23.810> you<00:18:24.320> know<00:18:24.350> about<00:18:24.530> three 00:18:24.850 --> 00:18:24.860 align:start position:0% and talk about you know about three 00:18:24.860 --> 00:18:26.320 align:start position:0% and talk about you know about three o'clock<00:18:24.950> change<00:18:25.490> people<00:18:25.850> out<00:18:25.970> in<00:18:26.090> the<00:18:26.150> real 00:18:26.320 --> 00:18:26.330 align:start position:0% o'clock change people out in the real 00:18:26.330 --> 00:18:28.210 align:start position:0% o'clock change people out in the real world<00:18:26.530> but<00:18:27.530> I<00:18:27.590> think<00:18:27.800> this<00:18:27.890> is<00:18:28.040> something 00:18:28.210 --> 00:18:28.220 align:start position:0% world but I think this is something 00:18:28.220 --> 00:18:30.490 align:start position:0% world but I think this is something that's<00:18:28.370> really<00:18:28.520> tangible<00:18:29.360> concrete<00:18:29.930> that<00:18:30.350> we 00:18:30.490 --> 00:18:30.500 align:start position:0% that's really tangible concrete that we 00:18:30.500 --> 00:18:31.820 align:start position:0% that's really tangible concrete that we can<00:18:30.650> all<00:18:30.710> rally<00:18:30.890> right 00:18:31.820 --> 00:18:31.830 align:start position:0% can all rally right 00:18:31.830 --> 00:18:33.590 align:start position:0% can all rally right everyone's<00:18:32.220> used<00:18:32.519> to<00:18:32.640> product<00:18:33.029> or<00:18:33.149> spent<00:18:33.419> on 00:18:33.590 --> 00:18:33.600 align:start position:0% everyone's used to product or spent on 00:18:33.600 --> 00:18:36.409 align:start position:0% everyone's used to product or spent on their<00:18:33.779> product<00:18:34.110> that's<00:18:34.260> available<00:18:34.700> and<00:18:35.700> I 00:18:36.409 --> 00:18:36.419 align:start position:0% their product that's available and I 00:18:36.419 --> 00:18:38.480 align:start position:0% their product that's available and I think<00:18:36.630> the<00:18:36.779> solutions<00:18:37.200> to<00:18:37.320> this<00:18:37.440> are<00:18:37.710> you<00:18:38.190> know 00:18:38.480 --> 00:18:38.490 align:start position:0% think the solutions to this are you know 00:18:38.490 --> 00:18:40.669 align:start position:0% think the solutions to this are you know becoming<00:18:38.789> very<00:18:39.059> real<00:18:39.149> today<00:18:40.080> and<00:18:40.440> so<00:18:40.559> there's 00:18:40.669 --> 00:18:40.679 align:start position:0% becoming very real today and so there's 00:18:40.679 --> 00:18:43.850 align:start position:0% becoming very real today and so there's something<00:18:40.950> that<00:18:41.840> yeah<00:18:42.840> I'd<00:18:43.140> like<00:18:43.260> to<00:18:43.320> see<00:18:43.440> you 00:18:43.850 --> 00:18:43.860 align:start position:0% something that yeah I'd like to see you 00:18:43.860 --> 00:18:45.860 align:start position:0% something that yeah I'd like to see you know<00:18:43.980> spoken<00:18:44.460> up<00:18:44.669> more<00:18:44.909> as<00:18:45.029> part<00:18:45.450> of<00:18:45.539> the 00:18:45.860 --> 00:18:45.870 align:start position:0% know spoken up more as part of the 00:18:45.870 --> 00:18:50.150 align:start position:0% know spoken up more as part of the promise<00:18:46.140> of<00:18:46.380> blockchain<00:18:46.830> and<00:18:46.860> what<00:18:47.130> three 00:18:50.150 --> 00:18:50.160 align:start position:0% 00:18:50.160 --> 00:18:58.240 align:start position:0% [Applause] 00:18:58.240 --> 00:18:58.250 align:start position:0% 00:18:58.250 --> 00:19:00.310 align:start position:0% you