In the most recent episode of Contrarian, Greg Landegger and I dove deep into the captivating intersection of blockchain, AI, and the financial undercurrents shaping the future. Greg’s insights revealed how family offices are becoming the vanguard of technology adoption.
We covered a wide array of topics in our hour-long conversation, including datasets, the human side of technology, voting on the blockchain, the metaverse, how founders can pitch better, investing in the future, and quite a bit more.
Before we launch into today’s written summary of our interview, check out the full episode here:
Web3: The Golden Triad of Future Technology
Web3 isn't just a buzzword; it's the embodiment of a technological paradigm shift. It can be seen as a triumvirate of elements: blockchain, smart contracts, and AI.
Yet, the industry grapples with a key challenge: data.
As Greg articulates, "You need the dataset. How do I provide my dataset to you and allow you to use it?" This question is central to understanding how Web3 technologies interact.
Blockchain, in its immutable wisdom, might hold the answer. An intriguing domain where this technology's potential shines is the music royalty business. While many firms are looking to capitalize on blockchain for music royalties, few have actualized its practical applications.
The ideal is a system where creators share unique datasets, allowing others to utilize them and assuring payment via blockchain. This synergy between AI and blockchain is just the beginning, but it symbolizes a future where technology optimizes trust and collaboration.
The Human Side of the Tech Equation
As investors and innovators, it's easy to become enamored with the nuts and bolts of technology. However, Greg reminds us of an essential truth: people don't buy technology; they buy solutions. When someone purchases an iPhone, they're not raving about the processor, but the experience it offers.
This is evident when examining crypto companies. The foundational technology – blockchain, in this instance – should be the finale of the conversation. First and foremost, businesses should emphasize the tangible benefits: increased market share, enhanced revenue, and decreased expenses. The underlying technology facilitates these outcomes, but the results themselves are the main attraction.
Blockchain & Voting: A Tale of Potential
Blockchain has many prospective applications, but none quite as tantalizing as voting. The voting process, as it stands, is shrouded in mystery and skepticism. The current method involves a voter trusting that their vote, once cast, is accounted for without any malfeasance. But what if there were a transparent, incorruptible system? Enter blockchain.
Greg points out the profound need for due diligence in this arena. While the concept of blockchain-based voting is enticing, its execution demands meticulous planning and an understanding of current systems. Properly done, it could revolutionize trust in democratic processes.
Metaverse: Beyond the Physical Realm
Greg’s excitement about the metaverse is palpable. It promises a world unbound by physical constraints, a realm where imagination reigns supreme. The possibilities for education, business, and social interaction are virtually limitless. Whether you're holding a meeting on a serene beach or exploring uncharted territories, the metaverse stands to redefine how we perceive reality.
Yet, this vast potential isn't just a futuristic vision. It's steadily becoming our reality. Greg mentions the film "Ready Player One" as an apt representation of the metaverse's allure, highlighting the human desire to experience, explore, and even escape.
Pitching in a Digital Age
In the ever-evolving tech landscape, communication remains crucial. Whether you're pitching to family offices, venture capitalists, or customers, clarity is king. Greg emphasizes the need for simplicity and coherence. An hour-long meeting that leaves stakeholders confused is an hour wasted. Startups must be concise, highlighting the problem they address and their unique solution.
Investing in the Future
For family offices and investors, the tech landscape presents both challenges and opportunities. The investment process begins with identifying promising technologies. From there, it's about discerning their practical applications and benefits. As Greg suggests, the goal is to find solutions that make logical sense and have clear, tangible advantages.
In this rapidly changing world, family offices are not just passive observers. They are active participants, leveraging technology, and driving innovation. Blockchain, AI, and the broader Web3 ecosystem are not just tools; they're catalysts for a brighter, more interconnected future.
