YouSaid · the spoken record

Adi Sideman

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21
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2017-10-27
most recent
2017-10-27
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1
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  1. “Yeah, so there is a timeline, and we map it out in the white paper, and it's over the next two and a half years. You know, people want to participate and they want to impact their surroundings. It's human nature, it's sociology, you know, technology enables this through a simulation through digital media. And Snapchat proved it. 65% of users have a camera and regularly creating participate in content. But Snapchat is just one use case. We are providing this new ecosystem and a new platform enabling people to participate with media in any use case. Think of it like Minecraft for media, where developers and users can rapidly fashion new social experiences to be incentivized to power them towards success maintain them in enhancement. Reality shows, game shows, social games, educational experiences, classrooms, auctions, commerce. We don't have to wait years for virtual reality. Program mobile video is here today, and we're all over it.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I think that they are doing well. I think that slowly but surely they're going to be moving towards enabling more and more openness. The fact that Apple still reviews every update by every line of code is just horrendous in terms of facilitating development. And it's not sustainable. And I think that slowly but surely we're going to see the world changing.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “The last lion, if you haven't read it, it's Winston Churchill's biography by William Manchester. It's a masterpiece in leadership and it's a riveting story about the 20th century.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Well, sir. The enterprise value of our ecosystem stands to increase significantly if we're able to incentivize masses of users. Developers, creators, and all people who contribute to the network and the ecosystem. So the portion of the token that we, our company, holds, becomes the asset that, you know, it's not that us alone are eager to see it appreciate, but a community of millions is now incentivized to appreciate our asset. And I call that asymmetric warfare, Harry.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Well, Andy, we're moving from a relatively small opportunity of running a single video use case and a single app with a currency that works only within that app to a cryptocurrency that is liquid and has value in the real world and powers a platform.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Yeah, so that's a really, really exciting sub feature of this ecosystem, which I call the token network effect. And we wrote about it in our white paper. And you can jumpstart the economy by allocating a portion of the tokens to a reward pool that logarithmically and algorithmically every day over a period of years rewards all the contributors to the network, big and small, and incentivize them to join you in the effort to grow the network because that benefits themselves.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “And makes them not coin operated in the end of the month, but really a part of the network and their value grows with the network.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Yeah, so thank you for asking about what it is specifically that we're doing. So, props is an ecosystem for a decentralized video applications. And RISE is the first application on it. And we are changing our business. Today we have millions of users and thousands of creators like YouTube and Instagram influencers. And today we tax our transactions. We take a 40% commission on our transactions. And we are changing that. We're launching a decentralized tokenized economy later this year where creators, whether they're independent like you or MTV or America's got talent, both of which are on our service today, will be rewarded with token. It's more equitable. It's based on their mathematical contribution to the growth of the network. And it provides these participants with a personal stake in the platform. It incentivizes them to grow the network that appreciates with their value contribution.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “You know, I tend to think of two-sided markets as being prone to having great value in decentralization. And I'm lucky to be working within that space and can benefit from these amazing opportunities to allow others to participate in this ecosystem. But I'm not sure that every business is prone for descentization or can benefit from it.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Yeah, I mean, gradual decentralization is a practical approach, whereby you leverage your existing centralized assets like users, revenue, proven product market fit, and you achieve an ultimately decentralized network over time. For example, to date, we don't yet have decentralized solutions for a streaming video. But does that mean that we should not benefit from the ability to decentralize the economy? Then we can replace the centralized servers with a decentralized protocols as soon as they become available and as soon as they provide better quality, of course, and lower costs.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Yeah, that's right. And if we agree that the promise of decentralization is real and valuable and promotes innovation and equitable distribution, and it's a great disruptive opportunity, and we have a lot of these quality in open source development movement already. The question is not which path to take, but which paths to take. And, you know, you mentioned too, and there may be more. Think about it. If Reddit or Twitter, existing services found a practical way to decentralize, is that a good thing? It will certainly advance us towards a more decentralized future, educate more individuals and companies on the possibilities, expose hundreds of millions of users to this new dimension. In the same token, no pun intended. When the new protocols that you mentioned, which are purely decentralized, like Ethereum and Filecoin, reach maturity in the years ahead, they hold undeniable promps. So, you know, to quote Albert Wenger from USV, he just wrote,”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Consume content on these platforms, effectively comprising the network and make its value end up with a tiny fraction of value, if at all. And the third thing is innovation. Equitable and fair ecosystem rewards developers to create use cases that we never imagined. And that just enhances the network. So we believe that a decentralized economy that runs on blockchain technology can change all that and provide a much more equitable ecosystem and a huge opportunity.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Yeah, so you know we look at it in terms of three dimensions here when you consider the benefits of digital media decentralization. First one is leaving control for digital media distribution in the hands of few decision makers is a real issue. I'll give you an example that happened this month. YouTube decided to take down hundreds of thousands of videos that documented the war in Syria in a highly centralized digital media space few people can make these decisions that impact in this case you know the collective memory of history. So this is not the promise of the internet. The second thing is there's a very disproportionate allocation of the value generated from these digital media networks. The internet started with this beautiful promise of a level playing field, but it ends up with what's happening is that a couple of companies generate hundreds of billions of dollars in enterprise value while the users that develop tools, create content,”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “No, it's true, but because I'm a fan. But Apple just changed their guidelines last month so they don't take their 30% cut when a user passes a currency to another user. And that's a big deal. And it was in reaction to feedback from consumers who want to do micropayments. And with cryptocurrency, that's a major trend now, which is putting digital currency into tens of thousands of new hands each day. We will only see more of this behavior and more applications will facilitate micropayments.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Know why it's seven dollars. We set the price because we want it to be scarce within the experience. If it was cheaper, there would be too many exploding Coke bottles and it wouldn't be fun. So, you know, when it shows up on the screen, it's a real celebration. And the reaction of the users is surprise and joy because the Coke Bottle also has special powers and it helps people trend and earn. No, absolutely. I'm sure. I'm just picking my jaw up off the floor on the price tag there. However, I am interested with regards to the monetization option. As a content creator myself, it's obviously all about the love and never about the money, but we have been promised micropayments for years. So why now for micropayments when it's been so long in the pipe? Yeah, well, you know, you should be used to try live streaming on you now. We have creators earning five figures per month from micro.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “In general. And so monetization through branded digital goods, subscriptions, microtransactions, paper view, paper extra features, pay for status, all these behaviors already exist in gaming and they're moving to this participatory media. And the interesting thing is that brands are taking advantage of these formats too. On our platform, on you now for the past two years, Coca-Cola has been using these exact methods. They sponsor a virtual Coke bottle gift that when you buy it, it explodes on the screen in front of everybody. Explodes nicely. You know, it fizzes out. Guess Harry, how much users pay for a virtual Coke bottle? Ten cents? Seven dollars. Seven dollars? Seven dollars. Who are you selling to sovereign wealth funds?”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “It's just the tip of the iceberg in terms of how people will be interacting with media rather than watching it on TV. So if we look at that radical decline in TV, how does that then translate to monetization with the age-old advertising industry? What are the knock-on effects? Yeah, I mean, as the media becomes more participatory and more mobile and more accessible, and think about it, you know, you're watching a reality show, soon you'll be able to jump in and participate in that reality show from the comfort of your own phone. We'll be seeing new models for monetization developed by definition. And we already see that in gaming and in live streaming. You know, Mary Meeker came out with a report a few months ago that talked about revenue per user per hour. And in interactive video environments like live streaming and gaming, it's 50 cents per user per hour. And on TV and radio, which are mostly ad-based, it's less than seven cents. So that's a really, really big opportunity there. And it's moving from gaming to social video.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “You know, traditional television viewing is on decline for many years now, and it's being replaced with time spent on mobile devices. That fact is radically true among young people. You know, the new generation grew up with video games and iPads all around them. They're not media consumers. They're media participants. And, you know, that's why the gaming industry bypassed Hollywood in size. It's around $100 billion a year versus Hollywood. It's less than 50. So, you know, video games played by almost 2 billion people are a really good leading indicator in terms of the behavior to participate and impact the moving image experience that it's unfolding around you in real time. It's very satisfying and it's very strong engagement. This is the kind of behavior that drives infatuation with the idea of VR. But more and more people don't want to just lean in. They want to jump in. And social video experiences on mobile devices like Snapchat or Instagram, they provide that.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “The largest mobile live streaming in the US in 2015. And then for the past year, we've been working on a new platform, Props, which further democratizes media through decentralization of the digital media ecosystem. And I can't wait to talk about it.”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Exactly. He's a legend, but enhanced CDs were all the rage before the internet. You would buy an audio CD and then you would put it into your computer to play the music. And lo and behold, there was digital track there and it had games and videos and interactive stuff. And so I used to make those. And then when the internet came, I started making online applications and I made dozens of them. Anything that users could create and share, make your own MTB music video, make your own Toyota car commercial, make your own e-trade baby. I co-undided the world's first online karaoke K Solo that sold to MySpace. I co-founded TargetSpot, a user generated radio ad platform, kind of like Google AdWords for audio. So there was this scheme in my passion enabling consumers to create, interact and participate in media. And then participating from your phone was a holy grail of sorts, as phones are so accessible and have a camera. So I started You Now, which became”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “You got it. I'm a consumer video guy before the internet. If you were a freak for interactive video like me, we used laser discs to program interactive video. And in grad school, I started doing enhanced CDs for artists like Marilyn Manson and nine inch nails and Peter Gabriel. Do you remember enhanced CDs?”

    2017-10-27 · The Twenty Minute VC · 20VC: Why Decentralisation is Key For Digital Media Distribution, Why Gradual Decentralisation Is The Most Practical Approach and Why Incumbents Are The Biggest Barrier To The Rise of Crypto with Adi Sideman, Founder & CEO @ YouNow · IDENTIFIED FROM THE TRANSCRIPT · source