The Case for Crypto

Kara Swisher and Scott Galloway talk with Chris Dixon, the founder and managing partner of A16z Crypto and the author of "Read Write Own: Building the Next Era of the Internet." Chris explains why he (still) believes in crypto and blockchain.

Kara SwisherhostChris DixonguestScott Gallowayhost

Jan 30, 202422mWatch on YouTube ↗

WHAT IT’S REALLY ABOUT

Chris Dixon Argues Crypto Can Rebuild an Open, User-Owned Internet

Chris Dixon makes the case that blockchain and crypto, despite scandals and speculation, are foundational tools to rebuild a more open, less centralized internet. He contrasts today’s internet oligopoly—where a few big tech firms control identity, distribution, and economics—with a Web3 model where users own their data, identities, and relationships. Dixon highlights productive use cases such as user-owned social networks, new creator business models, collaborative storytelling, and blockchain-based tools to combat AI deepfakes and support media sustainability. He also addresses crypto’s casino culture, the need for stronger regulation and longer lockups, and why he believes a serious, developer-led movement exists beneath the speculative noise.

IDEAS WORTH REMEMBERING

5 ideas

Blockchain can decouple user identity and relationships from platforms.

By letting users own their handles and follower graphs (like email lists rather than Twitter followings), blockchain-based social networks could reduce lock-in and shift power away from centralized platforms.

Speculation and scams are overshadowing genuinely productive crypto applications.

Dixon distinguishes between the ‘casino’ (offshore exchanges, pump-and-dumps, FTX-style fraud) and a quieter ecosystem of developers building real products in DeFi, social, gaming, and creator tools.

Stronger, enforceable lockups would better align incentives in token projects.

He argues policymakers should mandate long token lockups for founders and VCs, because real technology takes years to mature and short-term liquidity invites wealth transfers from retail to insiders.

NFTs and DAOs remain early but are not dead markets.

Despite a dramatic price correction and hype collapse, Dixon cites billions in annual NFT sales (net of wash trading, by his team’s estimate) and functioning DAOs that govern major DeFi protocols as evidence of ongoing activity.

AI’s rise increases the need for cryptographic verification and new creator models.

As deepfakes and AI-generated content proliferate, blockchains can store immutable attestations of authenticity and help design new revenue models for media and creators who may lose traffic and income to AI answer engines.

WORDS WORTH SAVING

5 quotes

“This is a chance to create the internet you want, not the internet you inherited.”

— Chris Dixon

“I don’t think that having four or five people control the flow of global money, business, culture, politics is acceptable.”

— Chris Dixon

“A hammer can build or a hammer can destroy. Blockchains and tokens are tools, and the casino is just one side of them.”

— Chris Dixon

“Musicians today don’t make money on the internet. They go offline, they tour, and they sell merchandise to support themselves.”

— Chris Dixon

“Real technology takes years to build. The number one thing policymakers could do is require long lockups on every project.”

— Chris Dixon

Centralization of the current internet and platform lock-inBlockchain/Web3 as infrastructure for user ownership and open networksState of crypto categories: tokens, NFTs, DAOs, and DeFiCasino culture, fraud (FTX/Binance), and the role of regulationUse cases in social media, creator economy, gaming, and the metaverseBlockchain’s role alongside AI: authentication, deepfakes, and media business modelsVenture capital incentives, token lockups, and public perception of crypto leaders

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