"web3 with a16z" is a show about the next generation of the internet, and about how builders and users -- whether artists, coders, creators, developers, compani...
with @mostrovs @skominers @rhhackettWelcome to web3 with a16z. I’m your host Robert Hackett, and today we’re talking about congestion pricing — an area of mechanism design that’s aimed at alleviating something everyone hates: traffic.Now you may have heard this term recently since New York adopted its own version of congestion pricing at the beginning of the year. This is the first program of its kind in the U.S. — and it’s got supporters and detractors. We’ll talk about that, and we’re also going to talk about much more. In the first part of today’s episode we’ll trace the history of the economic ideas that got us here. In the middle, we’ll dig deeper into the details of putting congestion pricing into practice, plus technological alternatives. And in the final part, we’ll explore parallels to — and implications for — crypto networks.Our guests are Michael Ostrovsky, a Stanford Economics Professor who specializes in this area and who has done research on congestion pricing in New York. We’re also joined by a16z crypto Research Partner Scott Kominers, who is a Professor of Business Administration at Harvard Business School where he teaches market design and entrepreneurship.Resources:Michael Ostrovsky's paper on congestion pricing in New York City (from before the launch, foreseeing its issues): https://web.stanford.edu/~ost/papers/nyc.pdfMichael Ostrovsky's thread that went viral on X shortly after the debut of congestion pricing in New York, discussing the post-launch evidence, his team's data collection efforts, and the link between observed data and predictions in the above paper: https://x.com/mostrovs/status/1876798157595476420Two of Ostrovsky's earlier theoretical papers on the topic: (1) https://web.stanford.edu/~ost/papers/complementarity.pdf, (2) https://web.stanford.edu/~ost/papers/sdc.pdfEconomist William Vickrey's influential paper on congestion pricing: Vickrey, W. S. (1969). Congestion theory and transport investment. American Economic Review 59 (2), 251–260. https://matthewturner.org/ec2410/readings/Vickrey_AER_1969.pdfAs a reminder, none of the content should be taken as tax, business, legal, or investment advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
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57:31
You Better Have a 30-Year Goal (with Eigen Labs)
Welcome to web3 with a16z. Today we’re talking about a founder’s journey from academia to the tech startup world — and the many lessons he’s learned along the way. We dig into big ideas, like what people mean when they call blockchains "truth machines." We also share practical advice and insights, like how to go about deciding on your life’s work; what you can do to keep increasing — and compounding — your leverage; plus, how a bungled interview question can change your life.Today’s episode features a conversation between Eigen Labs Founder Sreeram Kannan, formerly an associate professor at the University of Washington where he led its Blockchain Lab, and a16z crypto General Partner Ali Yahya. This conversation originally took place in the fall at our CSX crypto startup accelerator in New York. If you like what you hear, subscribe to the a16z crypto YouTube channel for this video and many others like it.Timestamps:(0:00) introduction(1:25) open innovation(4:08) evolution of blockchain technologies(12:34) journey from academia(16:00) one of the best life lessons(19:40) impact of network information theory(24:31) activation energy and moving earth(29:13) building a trust network(36:20) blockchains as commitment engines(45:17) Q&A(45:57) the power of narrative(52:19) restaking and the memetic sphere(56:01) two approaches to problem solving(59:53) startup focus and exponential games(1:04:56) professor coins(1:09:03) win-win or no deal(01:13:59) conclusionAs a reminder, none of the content should be taken as tax, business, legal, or investment advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
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1:15:09
Blockchain Performance, Demystified
with @SashaSpiegelman @Tim_Roughgarden @rhhackettWelcome to web3 with a16z. Today we’re talking about the ins and outs of blockchain performance. How does the “speed” of one chain compare to another? What are the tricky ways that people talk about important metrics like throughput and latency? And how do design choices across things like consensus and execution result in performance tradeoffs? Our guest today is Aptos Labs’ Head of Research Sasha Spiegelman, who is helping build out and develop technologies he originally co-created at Meta. We’re also joined by a16z crypto Head of Research and Columbia University professor Tim Roughgarden, who specializes in the intersection of computer science and economics, which is fitting as we dig into technical details throughout.Timestamps:(0:00) introduction(2:48) understanding blockchain metrics(7:59) consensus protocols: PBFT and beyond(14:56) innovations from Meta’s Novi to Aptos(20:51) optimizing blockchain execution (with BlockSTM)(25:23) tech debate: dynamic vs. static parallelism(27:55) open source and the prisoner’s dilemma(29:15) conclusion***As a reminder, none of the content should be taken as tax, business, legal, or investment advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
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30:18
Inside the Biggest Heist
with @mg_486662 and @rhhackettWelcome to web3 with a16z. I’m Robert Hackett and today we’re talking about what is potentially the biggest heist of all time — a hack of the Dubai-based crypto exchange ByBit which took place last month for a total of $1.5 billion and which the Federal Bureau of Investigation has attributed to a North Korean state-sponsored hacking group.In this episode, we cover details of how the attack went down, the state of crypto security across different types of wallets and organizations, and what you can do to help protect yourself from similar attacks.We’re joined by Matt Gleason, a security expert at a16z crypto, whose excellent write-up of the incident you can find below. We’ve also included an FBI PSA about the hack and other useful links as well.Resources:Breaking down the ByBit hack: Lessons to learn from crypto’s largest heist [a16z crypto; March 2025]North Korea responsible for $1.5 billion ByBit hack [FBI; February 2025]Learn THIS so you don't lose $50M | Multi-sig (Safe) Hardware Wallet Verification [Patrick Collins on YouTube; January 2025]As a reminder, none of the content should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
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44:12
Creativity Across Industries, with Uniswap & KidSuper
with @haydenzadams @kidsuper @smc90This episode involves a special mix of guests:Hayden Adams, founder and CEO of Uniswap Labs, and inventor of the Uniswap Protocol a leader in decentralized finance (DeFi); they recently announced Unichain; andColm Dillane, the multimedia artist behind fashion brand KidSuper, CFDA award winner who has his own Warhol Factory-like creative studio and space; Dillane started out selling t-shirts in his highschool cafeteria, and then went on to present his collection at Paris Fashion week — and has also done creative campaigns for iconic brands from Louis Vuitton and Mercedes Benz to Puma and Converse...in conversation with editor in chief Sonal Chokshi. The conversation originally took place at our Founder Summit (October 2024) but is more relevant than ever as the crypto industry focuses on mainstream applications and users. It covers:industry jargon, to making technology not just more broadly available but more culturally and socially understoodthe power of naming, including the origin story behind the unicorn and Unisocks and morethe difference between marketing vs. spectaclethe power of early community and what it means to expand to new users vs "sell out”drops -- “airdrops” in crypto; drops in fashion (a la Supreme), and just product launches in generalWe also touch on some questions and issues around open source, including forking and copying -- good or bad? -- and whether a collective can actually do good design. The theme throughout is about innovating vs. stagnating -- learning from different industries and places; trying (unexpected) new things, even when there may not be a clear business case up front, and much more. As a reminder: None of the following should be taken as business, investment, legal, or tax advice; please see a16z.com/disclosures for more important information.
"web3 with a16z" is a show about the next generation of the internet, and about how builders and users -- whether artists, coders, creators, developers, companies, organizations, or communities -- now have the ability to not just "read" (web1) + "write" (web2) but "own" (web3) pieces of the internet, unlocking a new wave of creativity and entrepreneurship. Brought to you by a16z crypto, this show is the definitive resource for understanding and going deeper on all things crypto and web3.
From discussing the latest and leading trends to sharing research, data readouts, and insights from top scientists and makers in the space, this is a variety show with a variety of formats and topics listeners can pick and choose from. It is hosted by the longtime showrunner of (and original team behind) the popular a16z Podcast. Learn more at a16zcrypto.com.
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