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Introduction xiii
Three Eras of Networks xxi A New Movement xxii Seeing the Truth xxiv Determining the internet's Future xxvi Part 1 Read. Write. 1. Why Networks Matter 3 2. Protocol Networks 8 A Brief History of Protocol Networks 8 The Benefits of Protocol Networks 17 The Fall of RSS 21 3. Corporate Networks 27 Skeuomorphic and Native Technologies 27 The Rise of Corporate Networks 30 The Problem with Corporate Networks: The Attract-Extract Cycle 34 Part 2 Own. 4. Blockchains 49 Why Computers Are Special: The Platform-App Feedback Loop 49 Two Paths to Adoption: "Inside Out" versus "Outside In" 52 Blockchains Are a New Kind of Computer 55 How Blockchains Work 56 Why Blockchains Matter 66 5. Tokens 70 Single-Player and Multiplayer Technologies 70 Tokens Represent Ownership 72 The Uses of Tokens 74 The Importance of Digital Ownership 79 The Next Big Thing Starts Out Looking Like a Toy 81 6. Blockchain Networks 86 Part 3 A New Era 7. Community-Created Software 101 Modding, Remixing, and Open Source 104 Composability: Software as Lego Bricks 106 The Cathedral and the Bazaar 110 8. Take Rates 112 Network Effects Drive Take Rates 113 Your Take Rate Is My Opportunity 118 Squeezing the Balloon 122 9. Building Networks with Token Incentives 128 Incentivizing Software Development 128 Overcoming the Bootstrap Problem 131 Tokens Are Self-Marketing 135 Making Users Owners 137 10. Tokenomics 141 Faucets and Token Supply 143 Sinks and Token Demand 144 Tokens Can Be Valued Using Traditional Financial Methods 147 Financial Cycles 150 11. Network Governance 154 The Nonprofit Model 157 Federated Networks 158 Protocol Coups 161 Blockchains as Network Constitutions 164 Blockchain Governance 164 Part 4 Here and Now 12. The Computer versus the Casino 171 Regulating Tokens 173 Ownership and Markets Are Inextricable 177 Limited Liability Corporations: A Regulatory Success Story 179 Part 5 What's Next 13. The iPhone Moment: From Incubation to Growth 185 14. Some Promising Applications 189 Social Networks: Millions of Prof liable Niches 189 Games and the Metaverse: Who Will Own the Virtual World? 194 NFTs: Scarce Value in an Era of Abundance 198 Collaborative Storytelling: Unleashing Fantasy Hollywood 207 Making Financial Infrastructure a Public Good 210 Artificial Intelligence: A New Economic Covenant for Creators 216 Deepfakes: Moving Beyond the Turing Test 222 Conclusion 226 Reinventing the Internet 227 Cause for Optimism 228 Acknowledgments 231 Notes 233 Index 271 |
Chris dixon