Web 3 has become the canonical term to describe new internet products that are decentralized, user owned, and orchestrated with tokens. It is compared to web 1 where the internet was user owned, but highly technical and not user-friendly and web 2 which formed centralized, and eventually extractive platforms that offered consumer friendly experiences and enabled billions of people to access the internet. DAOs (decentralized autonomous organizations) have become the primary social organizing entity within web 3. Gaby describes it as basically a group chat with a shared bank account. As a member of a DAO, you own tokens to that community, and therefore fractional ownership of the group and ‘skin in the game’. You have liquidity so you can leave the DAO as soon as you sell your tokens.
In this episode, Gaby helps us understand the emerging social behaviors and products that are being created within the web 3 paradigm and why they are better solutions to today’s socialization needs. She helps us walk through web1, 2, and 3 and their distinct characteristics, we explore the idea of the modern friend, we get into detail on the mechanisms of DAOs and some of its current benefits as well as flaws and potential solutions.ABOUT THE GUESTGaby Goldberg is an investor at TCG Crypto, where she focuses on the firm's investments at the intersection of consumer and crypto. She previously invested in early-stage consumer and internet businesses at Bessemer Venture Partners and Chapter One. Gaby writes regularly about culture, identity, and ownership in web3 at https://gaby.mirror.xyz.SHOW NOTES[3:50] Shortcomings of social products in the web 2 era
[5:05] How online relationships look like today
[8:50] Why online social behaviors emerge from same core motivators as offline
[10:50] Key characteristics of web 1, web 2 and web 3
[15:40] Is web 3 really better?
[20:00] DAO explainer, successful examples and existing shortcomings
[23:05] Canonical technology stack of DAOs
[27:40] Positive outcomes that have come out of DAOs
[30:40] The social token paradox
