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Speaker 1: [gentle music] This is Seeking
Minima.

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Speaker 1: There's some interesting news over
the weekend about the health of the US banking

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Speaker 1: system. Now, if you've seen my video
on local minima, you know that this is not at

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Speaker 1: all surprising to me. Everything is
way over-financialized, so they're kinda just

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Speaker 1: shuffling around [chuckles] the
pieces a little while longer. That's fine. But
what

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Speaker 1: it did remind me of is the importance
of the Web3 values, and these were never

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Speaker 1: about getting rich. They were never
about

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Speaker 1: any of the madness that we saw
recently. To me, it has always been about

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Speaker 1: helping humans coordinate, solve
social coordination problems, getting us to work

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Speaker 1: together and play on the same team,
and be nice to each other, and work towards the

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Speaker 1: same goal. So we're gonna talk about
three of the Web3 values and why they're so

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Speaker 1: important to everybody. They are
important for the same reason that freedom of

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Speaker 1: speech is important. Doesn't matter
whether you like it or not. It is useful. And

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Speaker 1: the first one is financial alignment.
Financial alignment is the oldest and simplest

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Speaker 1: of them. This is like equity in a
startup. You take risks together. You get
rewards

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Speaker 1: together. If it works, you go up
together. If it doesn't, you go down, you go
down

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Speaker 1: together. It's that simple. By tying
yourself to another person with something to

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Speaker 1: lose, you guys actually work together
pretty well. You are incentivized to help one

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Speaker 1: another, and that's why financial
alignment is the simplest and easiest, and

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Speaker 1: typically the first one to go to when
you just need people to work together. It's

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Speaker 1: old-fashioned, but it still works,
even in the digital age.

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Speaker 1: [upbeat music]