Magic Internet Society

Transcript

all right hello everyone my name is denison bertram i am ceo and co-founder of tally tally is a tool around making dows work so throughout around tooling for dows making dows work making on-chain governance work making communities thrive right so my talk today is a little bit of a repeat i did this one yesterday at daoist but i'm going to add a little bit more shilling into this one so it will be a little bit more shilling but what i'm talking about is the idea of magic internet society and this is really going to be kind of a philosophical talk it's really speaking to how we got to where we are today because how we got to where we are today

is really important to understanding where we're going and why we are building the things that we are building so first off how did we get here first we needed magic internet money and it's kind of a great day to be doing this talk of course because bitcoin is now at a new all-time high so bitcoin is the first inception really of the idea of magic internet money and if this were 2007 the idea that we could create magic internet money would be an absolutely ludicrous idea but money is the only human concept that

cannot be natively transmitted over the internet and this is why it's really important right before bitcoin i could not email you a dollar i could send you a love letter and say hey you in that row i love you right and you would feel loved but if i sent you an email for one dollar it doesn't work right so money is the only human concept that cannot be natively transmitted over the internet until of course 2008 the bitcoin white paper now the reason why money cannot natively be transmitted over the internet and the reason why it's magic internet money and i think my screen went off yeah is there's a great

okay there's a great um medium post by maria bustillos in 2017 titled you don't understand bitcoin because you think money is real right and this is really critical many things that exist in our world are not real things they are human concepts that we have organized ourselves around and come to believe to be real things so bitcoin is the first example of this really well not the first but a very key example here of magic internet money and today of course um again today bitcoin is at a new all-time high uh bitcoin is real it is a concept that

through the hard work of the past 10 plus years us as a community have made into something that is very real but this is not a bitcoin talk what i want to really express here philosophically is the idea that building the future is a process of transforming outlandish ideas into concrete primitives that become real at one point in time paper money was a crazy idea right you were trading goats you're trading fish you're trading salted pork and then somebody comes

along and says hey i'll give you paper money that was a crazy idea at one point and people had to try over centuries to make this concept tangibly real of course that's a kind of outdated notion for everyone in the room today paper money but it's important to think that as humans we move forward by taking concepts making them real and then building upon them and this process of iteratively stepping forward into the unknown allows us to eventually build really crazy crazy things so this is kind of a little bit of a flow of what i'm getting at here

once we had magic internet money we could build magic internet banks right and magic internet banks would have seemed extra extra crazy before you believed in magic internet money right so when roon came around and i think it was 2014 when he initially came up with the idea of maker dow and said hey we are going to build a lending platform a bank on top of magic internet money it was crazy right but it became real and once we had magic internet banks people realized that now we could build magic internet finance right and that's the origin of d5

and if you think about d5 for a moment you would really realize how insane the idea is right if you'd sit down with your parents 2007 you're gonna say okay first mom and dad i am going to go print out some monopoly money then i'm gonna make a big bank where you can put in your monopoly money and take out other monopoly money earn interest on your monopoly money and then we'll organize a global revolution of corporations and individuals who will do conferences like this and will go around and will build monopoly money finance and it'll be worth billions of real dollars it would have never even come up because the idea was just too stupid at the time right it's just too far out there too

much of a stretch but once we had magic internet money we could build magic internet banks we could build magic internet finance right and this is the iterative process of stepping from one crazy unbelievable idea until it becomes real and then we build on top of that idea and when you really think about it you can get to anywhere from this point once we had deep i magic internet finance we were really able to build magic internet organizations dao's because we needed organizations to run magic internet finance right and now this isn't

clear cut right like obviously we maker dow built a lot of things at the same time people are experimenting with dao's prior but by and large in 2017 when we first started to see dows a lot of dows had identity crisis around what are we actually doing with this dao what is the purpose of the staff right with the growth of d5 this idea became very crystal clear in a lot of people's minds if we're going to have magic internet finance organizations that by and large are going to have to interact with real world regulations well we're probably going to have to build other kinds of constructs to effectively manage them right and that's when dows really started to spring into their own because

they existed before right monopoly money existed before bitcoin but when you had a real true crystallization of the concept and of the need it became something real and what we've seen is this enormous explosion of dowels of people applying magic internet organizations to manage magic internet money in their magic internet banks getting magic internet interest taking magic internet loans all of these things that if you hadn't built them iteratively as primitives would be impossible so a little recap here we have magic money banks financial systems organizations so

where do we go from here what comes next and i'm going to make this is kind of both what i want to see happen and what i think is the ultimate destination for us for the culmination of everything that we've been doing in the past decade and will do most likely for the rest of our careers for the rest of our lives but we are going to build magic internet society right and magic internet society is maybe not the final step but it is the final step and certainly in many of our evolutions here where we take all the things that we've learned around taking primitives that were outlandish

making them real making it real in the minds of society at large and building upon them to run everything on top of these concepts that we've created the same way that the the corporate legal personhood bestowed upon them by the state has become a real thing right we start with the dutch east india company and we go to the modern world we are going to do this with everything around us in 2020 to give to give a little bit of like context of the scope here when i talk about magic internet society let's start just with corporations i think a lot of people know that dows are a better format of organizing human

capital and opportunity and when we talk about replacing corporations with taos look at the opportunity 213 million companies operating worldwide right these are the legal personhoods that drive innovation wealth healthcare research everything on planet earth in our societies we can replace them with more efficient organizations via our magic internet organization but we don't have to stop just there right legal personhood isn't the end-all and be-all of what we are building right we can extend this idea to hobby groups

sport teams political parties religious groups any place that humans organize we can take these concepts that we have been working so hard to put together and apply them there i don't know what it's going to look like but i know that this is where we're going so this comes a little bit of the shilling part that i hadn't done in my previous talk and this is a little bit about tally where tally comes in what tally's vision is we really believe in this future but to get there there's a lot of tools that we need when we think about legal personhood when we think about how corporations work we understand that the state has actually built an entire ecosystem of

tools and services that make legal personhood a thing right companies could not function if there were not courts to adjudicate disputes if there were not lawyers who would help do that adjudication if there weren't notaries to sign over things if there weren't real world banks to hold your real world money all these things represent the infrastructure that powers what was once a crazy concept but which we today assume to be real so tally one of its goals and there's many people in this room in this conference and in our ecosystem working on the same problem is working to build tools that help make this possible right so tally offers services for uh daos

where you can explore different dows you can understand the ecosystem that your dao exists in the people who are collaborating inside of it we offer rich data profiles and an api around these identities of people who are participating and this is very important because we found that communities of anonymous individuals they work but they don't always work because it's very difficult to build human concepts such as like reputation and trust among anonymous individuals so we we offer services in our rich data profiles to help give you an idea of who participants are something else that we've been working

on that is on my lovely screen up here is a new project called drafts when we've been researching how communities organize what we found is is that there's a really high barrier to participation in ideation right you see forums you see discord these are all kind of proto environments for the incubation of ideas but people suffer with ideas leaderless organizations have a hard time creating ideas there's imposter syndrome where folks have brilliant ideas but they don't think that they are qualified to present them right people have ideas that they think is important but they're not interested in actually running them and manage them so we're

building a product right now that we're actually looking for feedback and alpha beta users and communities to work on which is called drafts and this is a tool that helps leaderless communities come to decisions it's kind of like a proto meta version of a forum or rather it be total open discussion it's actually guided around creating actionable understandable proposals ideas that communities can rally around but don't require some sort of leader to implement so if you're interested in that please speak to me later so this is kind of the end here i've got four minutes left but i want to talk a little bit about why dows are important

and this is something that you know we we we sort of assume to be true but maybe we don't always think about very well there's a phrase that i like to use that fish don't know that they're wet and this idea is around corporations hiring people in the united states and in most countries to hire someone for your business for your company for your idea you actually need to ask the state for permission to hire them you can't just have an idea connect with someone who's really amazing who's the best person to work on with this idea and just work on them with it right you have to actually go to your state and

say hey please uncle sam the united states government may i hire this talented person to join more organization this is so normal that none of us ever think about it this is not something that you ever wonder about it is something that becomes a very strong political topic right in many countries people are always arguing oh we can't let these other people these talented people come in here and take our jobs dows remove this inefficiency dows allow us to build permissionless self-sovereign organizations that set their own rules about what membership looks like you don't require a state that may be directed by political ambitions of one sort or another to

gatekeep your access to talent because what happens is in the modern world you have companies like apple and facebook and google who of course have access to whomever they want but if you're a smaller kind of company there's a huge friction in you having access to that talent but there's an enormous friction of the people that you might work with being able to access that opportunity right and that goes to that concept of talent is evenly distributed but opportunity is not daos can make opportunity more evenly distributed right and this is very important one of the things that we went through at tally when we started the company and we were hiring is we wanted to hire talent that was outside of the united states right

now we are a delaware corporation we're trying to play by the rules so the option was something called peo firms these are companies that exist just to be the intermediary between you and talented folks elsewhere who don't have access to your market and what they do is they take an enormous commission off of the income that would otherwise go to talented individuals and they cut the line of responsibility right and one of the sales pitches that we were we received when we were looking to hire uh people abroad was you can get employees and have no responsibility to them you don't owe them options you

don't own the stock health care responsibility you can hire them and fire them at will it's perfect right a new kind of intellectual sharecropping capitalism that exploits talent around the world because now that we've moved into an intellectual era the energy that we have in our own brains is the new resource to exploit so dows can help even the playing field dows can give everyone access to the things that they are building fairly and equally based on the terms of the communities that they want to join and this is really very very important right if we are going to make it if we

are going to build a more equitable world we have to realize when we are fish and water and when the things that live around us are not natural constructs because all of these things are human ideas that we've built and we can do better so at tally we're trying to do better and here comes a little bit more shilling we're definitely hiring please join us we would love to have you but it's important if you're just out there in the world building endows to remember what we're doing this for we're building the future and no matter how crazy that future is if we build it incrementally we can get there so yeah that's me so if you want to reach out

give me a call thanks i think five seconds left perfect