[Applause]
minutes research lead at the graph today
I'm talking about any planned
obsolescence in tech one thing that I
know beating people all these
conferences and meetups is that it what
kind of has their own vision for what
makes blockchain decentralisation
exciting and for me what really counts
of my imagination for the first time
what's this quote from the original
theorem our website this idea building
unstoppable applications not as
fascinated me because this is not
something that we were used to thinking
about the real world right this is kind
of the stuff of fantasy right like so
that the world scored you know that you
read about that you know lasts forever
but in the physical world we deal with
the second law of thermodynamics right
that entropy is always increasing and
you kind of come to expect that physical
products will you know fail and degrade
over time but actually put to you that
we do have some prize today that the
last forever specifically their
information products so things like
books music movies and their physical
form right pages on the book will be
great but there is no pure essence you
know these things are just information
information doesn't have any intrinsic
expiration date right like maybe the
hard time of that sometimes on will fail
but you know the information itself you
know just requires that you know medium
you play through
it should last forever now the type of
information product that without that we
don't come to a site this property for
our software right but software really
is access it's still just information so
you know why is it that the ops that we
love that we use all the plan and kind
of just come to accept that these things
fail right when these things are you
know either poor just information
I was contended that your software is
just like music
except that like the boombox man you
play it through is just way more complex
and we haven't figured out how to give
it the same properties that's why I
think you can trace this all the way
back to the Great Depression this is one
that you know planned obsolescence was
first produced and at the time I was
seen as this breakthrough the my
economic thinking right people were kind
of desperate there was this sense that
the economy was feeling because there
was enough purchasing power and consumer
scans
this is the same time the Tommy nerve
King said that it would be better to
burry a bunch of money glass jars to
drive implement than do nothing these
ideas actually stuck with us and to
become part of the zeitgeist of you know
what we expect from consumer products
over the last century so shortly after
those ideas were put to the test a
cartel of like what manufacturers were
realizing that the light bulbs that
would produce equal nasty way too long
and she's a form a cartel about Phoebus
cartel where they decided to
collectively limit amount however then
you get a light bulb with a be designed
to last on the right this is actually a
picture it was called the Centennial
light bulb this is a
before that era that silver mean in a
fire station of Livermore California
than today so it can give you a sense of
like what these products could have been
like there's no some forms of paying
obsolescence today I mean maybe policy
like contrived durability I think this
is the one that we tend to identify with
the most with that term but it's no
longer time to identify with software
products so let me explain what I mean
when I say contractor ability for for
software and specifically it's that the
apps that we use or designed to help
live the companies that built them and
this would've been a problem
maybe 100 years ago you know the average
lifespan of a company was you know
closer than 60 years at least on the S&P
no today it's closer to 20 years its
projected to keep decreasing so you know
something that's real companies are
going to last you know that's the best
time and we can start thinking about
what that means for the price that they
create so there's a lot of reasons for
this you know these are just like a
couple ones that you still up which is
had for a long time that playbook is
kind of a to go in your home for you
know specially consumer applications
right like even big you know successful
rates like Instagram or snapchat and
they start thinking about monetization
until years into their growth plan and
those are kind of the success stories
but many
companies are sort of that and they get
you know maybe tens of thousands of
users and they decide that's not enough
skill to drive a business model and so
they shut down or they become strategic
acquisitions for like March people on
rights that then shut them down or
something
you don't migrate their user sensitive
other products now so ever may be that
this is a formal to obsolescence because
these businesses are basically planning
for this this world relate only than the
cases like massive success will they
need to be to be taken care rather than
planning for their products out with you
know the companies themselves was just
lots of reasons that we should care
about this it's not like them you know
kind of most happy for you know the
people that you know that are affected
content is everyone in this room so you
know a few teammates you know here just
just to see or a couple products that
would be used in a lot of my work of
shut down the next door bill one of
those are products that you know get
spent hundreds of dollars and tweaking
it tuning it and in our data to it we
were happy to pay for it
and not with striking right so you're
talking you know thousands and thousands
of dollars worth of engineers time that
you know it's kind of stolen from us
against our will
you can go to this website in La Jolla
google.com and you can see like 150 plus
products a over the years and so I
think about the users that kind of gave
those products a shot you know spent
their time getting excited about it
playing with it and then you know later
also punished for kind of taking that
chance and think about this user
psychology right but we want starts to
be successful but if we train users that
you know taking a risk on the new life
starter project is you know a fool's
errand then like we're gonna see a lot
less innovation and adoption of new new
projects another dimension to this is
tech technological stagnation so this is
something that Peter Thiel talks about a
lot he says they have a lot of
innovation in the blog bits but not
products now that you one part of this
is that were we're redoing the same work
over and over again so we go back to the
center showing before one of these
products one on the left that's not like
this mailbox was it's kind of innovative
you know mail out that came up this is
you know nice of us you know features it
was acquired by chocolates and shut down
the inbox came around later basically
just copy the exact same set of features
and then should I switch to that and
then that will shut down and you know
I'm sure there's you know your to my
another startup said hey you know those
two dots are really creative of us
rebuild these you know same features and
so you know I'm gonna argue that in 10
years from now we're still talking about
the latest like talent graph to do this
map mail app then like we haven't done
our job correctly so it's going to
nominator that you'll see with a lot of
products that are designed to be
obsolete is what I call bundling and
specifically bundling uh
parts that have different levels of
durability properties so it's very
common to see you know parts that have
really swung
it's the you know the greatest being
information was you know infinitely
durable with you know Hurston are
immortal ccs across the board when it
comes to planned obsolescence so you see
a physical components so like how many
likes for example there was a study
that's so that like for outdoor LED
bulbs in only tempers like a suave
leaders was the LED bulb itself
responsible and then the other 90% it
was either the power supply or some
other you know parts that would kind of
let them into the LED poll but they
don't designed these things to be like
swapped out you know autonomy so we're
just throwing working LED bulbs in the
trash with my new ones you know that we
still hoping you see this with the
latest issue not prose writing were very
accepted they solder they include the
other random battery on some other work
meaning that one of these parts bills
now you're swapping on your tire another
board instead of replacing one of these
things piecemeal kind of talked already
about information this is will media
right so they were still in the world
when we were printing our books on you
know think network paper and you know I
mean then like we would still be in a
world where books were designed to fail
right less intuitive this information
and resources so a lot of people don't
realize we don't think about what
happens when we now eight to a about
Mitch you know we put the URL via and
the you know the browser textbook deal
but really what that thing is doing is
it's mounted to an IP address through
DNS so like if you want to like
Wikipedia for example it's gonna go to
your DNS provider you're going to get
he address one that IP address really
represents is a physical location on the
network so so we're taking this thing
that's just information Wikipedia and
Atlantis visible spot on the network and
at that location fails that the
information is coming we see that all
the time by the way it's called Big Rob
if you want to look it up when we get it
to the wrong like software like Web Apps
it becomes a little bit more complicated
so we're bundling software with the
compute storage and other services
required to make that software work and
not only that were also running those
compute storage resources to sustain
business and economic kennedys right
through these kind of complex like value
chains so if you're using you know main
applications today like Facebook you
know you might have a user watch your
past that's the one station strategy
that kind of indirectly goes to you know
that goes to Facebook and then Facebook
we browse that value to this you know
computer sort of resources to keep
service right and so we're in this world
today where if the business stuff you
know working my stuff and for those
resources then everything stops working
and that's what I wanna focus on today
about doing an analogy is would be like
if when we want a television from like a
company you were also like buying the
electricity to run a television from a
company like that's that's kinda cool
today with the software so the answer to
this I use will stack conceptualisation
and this is what a lot of us in the
space are working to works right now
we're kind of just at the bottom of the
stack right you know the networking
layer of stack is what we've come to
think of as operating like a utility
which is to say that the value flows
that keep the network money aren't
directly tied to the businesses that
want applications on that network right
you can through your internet service
it's not like your reader uses or that
service and a future that's not we think
every part of the application stack
should work so we're focused on two
major parts of this one is data storage
which we saw in the previous slide so
instead of having web pages like
Wikipedia that be tied to specific
locations on the network like a physical
box we can address these things by the
information that they contain so this is
called content addressing and then you
can use that content address to go to a
decentralized network of note operators
and say okay who has this piece of
information but no longer have we want
to hold the information with a specific
location where you can find
a nation with services it becomes a
little bit more involved not only now if
we want to be couple the information
from the physical location we also want
to decouple the value flows so in this
diagram is that you know the developer
who builds the application deploys the
logic to this decentralized network of
service providers but then the value
flows that keep that service running our
direct between the end user and a
network right so this developer wants to
walk away he wants to work on something
else you know goes out of business
this piece of infrastructure continues
to operate this is how variant works
right you know the developers you know
deploy our contract but you unless
there's some weird logic built into it
you wouldn't expect it to stop working
you know most definite other walks away
it's going to be current infrastructure
this is how they are to service
protocols like the graphic or black pure
work we're in a forest you deploy a
subgraph to the graph which defines your
you know the query and indexing layer
for your application
but once that's deployed is these value
close between the graph and the end user
that keep that piece of infrastructure
working so the goal here is postdoc you
centralization right and this is what
we're going to see over the next few
years that for every piece of the stack
we're going to
the service network either a base layer
of their to later three that kind of
adopts these properties we're really the
only thing that's a product is this very
top little thing you know the front end
application and everything below that is
kind of based on like the meter usage
not yet user so this is part of the long
path that we've been on for for some
time this isn't something that started
with decentralisation so we've talked
before about the physical media and
information so that kind of started with
the map admin you know digital computing
been announced and runs this popular
Technic business blog that's for
temporary great talks about aggregation
theory and how the internet unbundled
products from distribution channels and
all the ways in which that you know
changed our economy and we kind of leave
this as being like the logical next step
to aggregation theory we're now not only
a bundle you know products from
distribution but we also have a muddled
you know information and software from
the computer storage resources required
to operate and yet here is in addition
to getting stopped unstoppable products
we move towards an economy that starts
recognizing the time and you know labor
that time and data the neighbor that we
put into our the products that we use as
a house neighbor right so you know these
things how value that we confer do it by
virtue the fact that we used it and so
we shouldn't accept the world in which
the businesses that we you know I
software from how powers to about
as far as fairly I think this is going
to be to unlock you know a lot of
innovation entrepreneurship not because
consumers will be more amenable to
trying out new products with the
knowledge that these things won't fail
the startup fails but also because you
know going back to that you know a
full-stack slide there's going to be so
much more shared shared like
infrastructure for new developers to do
businesses to go on rather than azmuth
today a developer wants going internet
application also have to rewrite TCP and
like the rest of the networking stack
right they came to how much less
innovation you get but that's what we're
doing with the rest of the application
stack
today right the other thing that we're
doing here is were unbundling ideas and
labor from corporations so this is going
to change the nature of work and so I
think it's actually going to change work
to be much more like the work that we've
done of other information products right
so like the way movies get you know
built for example when you kind of you
know how they do that you assemble a
team there's kind of many you know
contractors or you know consultants
involved and that team gets together to
like build this information product and
then it's done
right like we wouldn't expect you know
the team that built like Jurassic Park
for example to stick around for 20 years
as a corporation and I like monetize is
an extract value from Jurassic Park you
know instead we have Studios that you
know come together and build you know
many different information products and
the other thing we're going to see here
is that as you know shared
infrastructure grows we're going to see
billing software is much more small
business activity right we're going to
reduce the barrier of entry to building
useful and needs to complications that
maybe wouldn't have worked in a world
where depends you know you had to be
built into our personal snack just to
build something new and useful you know
the reason I want to talk about this
today is just said I think we tend to
get caught up a lot on the idealism
about 3:00 and like I think that times
sometimes that face it disconnect
between you know people on this base of
a really excited and I don't mean to try
and talk about you know about three
o'clock change people out in the real
world but I think this is something
that's really tangible concrete that we
can all rally right
everyone's used to product or spent on
their product that's available and I
think the solutions to this are you know
becoming very real today and so there's
something that yeah I'd like to see you
know spoken up more as part of the
promise of blockchain and what three
[Applause]
you