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Guest Talk with Mike Masnick | The Role of Protocols in Decentralization

Talk Mike Masnick

Mike Masnick traces the evolution of his thinking since his 2019 'Protocols, Not Platforms' paper, engaging criticisms from Moxie Marlinspike (that protocols are too slow and prone to corporate capture) and reframing decentralization not as an absolute good but as a question of which system components should be centralized versus pushed to the edges. Using the U.S. interstate highway system as an analogy, he argues the protocol itself should function as a stable, centralized foundation while competition and innovation happen in decentralized nodes built on top of it, and discusses how Twitter's Musk acquisition and Bluesky's emergence illustrate these dynamics in practice.

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Daniel Bashir, ML engineer at AWS and host of The Gradient podcast, surveys how protocol thinking applies across AI—from funding and scaling laws (like DeepMind's Chinchilla compute-optimal training protocol) to benchmarks (perplexity vs. François Chollet's ARC benchmark for measuring sample-efficient generalization) to regulation (the EU AI Act's risk-tiered categorization). He argues that nearly every layer of AI development—research, engineering, deployment, and governance—can be reframed as a set of competing or evolving protocols, using examples like Sarah Hooker's 'hardware lottery' and Tolga Bolukbasi-style debates over fair/responsible AI operationalization.

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Guest Talk with Jesse Walden | Contract Theory and Protocol Design

Jesse Walden (Variant VC, co-founder of Media Chain) presents a framework derived from Oliver Hart's contract theory, distinguishing 'complete' protocols (simple, deterministic, trust-minimized, automated — e.g. Bitcoin, Uniswap v1) from 'incomplete' protocols that require ongoing human governance and interpretation (e.g. Aave, Nouns DAO, MolochDAO's rage-quit mechanism). He argues many crypto projects fall into an 'uncanny valley' by claiming completeness/decentralization they don't actually have, and points to Uniswap v4's hooks as a hybrid model that automates a complete core while delegating customization to the market. Discussion with Tim, Angela Walch, and others explores whether true completeness is ever attainable, the role of tokens as 'economic alignment' products, and regulatory incentives (SEC's 'sufficient decentralization') that pressure projects to overclaim completeness.

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Guest Talk with Benjamin Funk | Crypto-Powered Information Games

Benjamin Funk, an analyst at crypto VC firm Archetype, presents a framework for analyzing the 'information supply chain' and argues that surveillance capitalism persists because we lack protocols that work backward from what information consumers (governing bodies, businesses, individuals) actually need to make good decisions. He critiques existing crypto decision-making mechanisms—EigenLayer's token (good for intersubjective faults but not subjective predictions), Optimism's retroactive public goods funding (centralized preference function), and MetaDAO's futarchy (fails to surface surprising information and suffers from reflexivity)—while highlighting the Negation Game as a promising model that incentivizes surfacing consequential and surprising information through self-slashing stakes.

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