Bitcoin and Data Monopolies | Bitcoin is Venice Series | Episode 3 (WiM383)

Allen Farrington and Sacha Meyers join me for a multi-episode conversation exploring their book "Bitcoin is Venice." In this episode, we discuss the business model of Facebook and Google, data monopolies and their network effects, the concept of owning your data, and whether Bitcoin can change the Internet.Allen Farrington and Sacha Meyers co-authored the book "Bitcoin is Venice". // GUEST // Book: https://store.bitcoinmagazine.com/collections/books/products/bitcoin-is-venice Allen’s Twitter: https://twitter.com/allenf32Sacha’s Twitter: https://twitter.com/sacha_meyers// SPONSORS // In Wolf's Clothing: https://wolfnyc.com/NetSuite: https://netsuite.com/whatismoneyiCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/CrowdHealth: https://www.joincrowdhealth.com/breedloveWasabi Wallet: https://wasabiwallet.io/Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.comCarnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/// OUTLINE // 00:00:00 - Coming up 00:00:47 - Intro 00:02:20 - Helping Lightning Startups with In Wolf's Clothing 00:03:06 - Introducing Allen Farrington and Sacha Meyers 00:03:50 - Facebook and Google: Fundamentally Different Economic Entities 00:09:06 - Bitcoin and Data Monopolies 00:12:26 - Why These Companies Got So Big 00:16:04 - Misunderstanding the Technology 00:18:42 - Network Business Capitals 00:22:30 - Process of Capital Accumulation 00:24:29 - An Alternative Option with Bitcoin 00:26:58 - Advertising Taken to its Logical Extreme 00:29:27 - Power of Network Effects 00:32:08 - Business Ethics and Data Integrity 00:34:09 - Run Your Business from Anywhere with NetSuite 00:35:14 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:36:10 - How Bitcoin Fixes Data Monetization 00:41:36 - How Does Facebook Work? 00:44:24 - Novel Communications Protocol of Facebook 00:47:40 - “Breaking up” the Monopoly of Network Businesses 00:54:47 - The Analogy of Surveillance 00:56:56 - The Problem with Owning Your Data 00:59:47 - Data and Network Effects 01:03:06 - Knowledge is Capital 01:05:38 - Objection to Intellectual Property 01:08:05 - Take Control of Your Healthcare with CrowdHealth 01:09:07 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 01:09:59 - The Nature of the Internet 01:13:06 - Open-Source Software vs. Free Software 01:16:43 - Can Bitcoin Change the Internet?// PODCAST // Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove// WRITTEN WORK // Medium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/// SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22Instagram: https://www.instagram.com/breedlove_22TikTok: https://www.tiktok.com/@breedlove22All My Current Work: https://vida.page/breedlove22