Gwart joins us to talk about the collapse of crypto’s “public goods” era and why the revenue meta is taking over. We dive deep into the fat protocol thesis, why DAOs failed, the difference between Bitcoin and crypto, and how builders are finally focusing on sustainable businesses instead of token hacking.
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**NOTES:**
• Pump.fun crossed hundreds of millions in revenue
• Fat protocol thesis originated 2016-2017
• iPhone example: $1,000 vs theoretical $10,000
• Uniswap has fee switch but hasn’t turned it on
• Thread guy has 5% Bitcoin portfolio allocation
• Bitcoin could 10x in next five years
Timestamps:
00:00 Start
01:59 Bitcoin vs Crypto
06:08 What does Gwart “believe” in?
08:33 Revenue Meta & Fat Protocol Thesis
13:36 Interpreting the Fat Protocol Thesis
19:25 Analogies to Linux, etc
27:18 Is the DAO dead?
31:27 Devs
37:35 Creators of the Revenue delusion
40:46 Are stonks the new tokens?
45:01 Solana maxi
50:22 Real World Assets ;P
53:10 Minting new BTC maxis
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