Chris Dixon: belief

Transcript context

…You could call it Faster Grant, right? [laughs] Faster Grants, yes. I thought what you did was really inspiring. I actually wrote out a business plan. I haven’t done it. It was like you have a DAO. This is an entity on a blockchain, an autonomous entity on a blockchain. Think of what an endowment does. If you go to Yale or Ford Foundation endowments — first time I learned this is when I raised venture capital. I walk in there, and I’m like, “Ford Foundation — aren’t they this organization that gives away money?” They have this other side which invests money. Endowments are two things: invest the money and give away the money, and they’re very different. Invest the money — they wear suits, and give away the money — they don’t. It’s just like two different organizations. The idea was, could we create a blockchain, an autonomous AI entity that is like an endowment? Half of it is investing, and you’re investing in tokens and this and that, and the other half is giving the money away, ala Fast Grants. That’s actually an idea. I think it’s pretty cool. If someone did it, I’d be excited to help out. I haven’t gotten around to it, but I do think that might be a future thing. What’s cool about an endowment is, if it invests well, it just snowballs and has more and more money, and then you use some portion of the returns every year to give that out. Hopefully, it just becomes this self-sustaining thing the way that the university endowments have. If I ask you how will AI change politics, what’s the most confident prediction you have?…

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