Peer-to-peer electronic payments are here and they're changing the world!
In Episode #394 of 'Meanderings', I discuss: the meanings of these three topics, how they all share properties decentralisation/self-sovereignty/permissionless/value transfer, the history and future of podcasting, a new model of monetisation for digital creators and how the promise of Bitcoin has had a tangible impact on my life.
Massive appreciation to everyone who has contributed to Podcasting 2.0 and making Value For Value work. It's truly amazing!
Timeline:
(0:00) - Intro
(1:38) - Definition & meanings
(5:51) - Original version of podcasting
(9:10) - Current trends moving away from openness
(20:31) - Podcasting 2.0: Adam Curry & Dave Jones
(24:19) - Innovation: Providing new value
(32:34) - V4V: Simple but complex
(40:50) - The Value For Value Model
(46:30) - Bitcoin properties
(54:00) - The 'Value' tag
(1:01:40) - Streaming sats
(1:06:09) - Boosts/Boostagrams
(1:10:39) - Case Example: Our stats
(1:16:19) - Case Example: The ecosystem
(1:20:21) - Room For More: PodPing & HIVE
(1:24:00) - RSS: Music, writing & video
(1:29:03) - Summary
(1:31:58) - Value Ask: Check out the 3 podcasts
Connect with Mere Mortals:
Website: https://www.meremortalspodcast.com/
Discord: https://discord.gg/jjfq9eGReU
Instagram: https://www.instagram.com/meremortalspodcast/
TikTok: https://www.tiktok.com/@meremortalspodcast
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Welcome Mere Mortalites
to another round
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of the mere mortals meanderings
for an episode
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I’ve titled Podcasting
2.0 and value for value
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delivering on the
promise of Bitcoin.
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My name is Kyrin, host of the
Mere Mortals podcast.
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Typically I have my friend Juan
with me to explore
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different ideas,
different topics, and we'll
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kind of go all over the place.
I'm doing the opposite today.
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I'm focusing on a couple
of really core things,
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which I've been spending
probably the last
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2 to 3 years of my life
really investigating
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deeply and trying
to understand better.
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So today is Monday,
the 19th of June 2023.
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And I'll just say
at the start here,
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you're probably going to hear me
using a lot of abbreviations.
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So instead of podcasting 2.0,
I might say P 2.0
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instead of value for value,
I will definitely be saying V4V
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and instead of bitcoin
you might hear me saying BTC
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or SATs or short for Satoshis,
which are a portion of bitcoin,
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much like a cent
is a portion of a dollar.
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So what are we going
to be finding in today's episode?
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Well, I'm going to be going over
four properties,
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which I feel each of
these separate things
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have within them
and why it's interesting
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to kind of compare and contrast
between these. We're going
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to be going over the history
and the current state
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and also the future
of podcasting.
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We'll be talking about
a new model of monetisation
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for digital creators.
And so much more
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than monetisation,
and also how all of these
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have combined with the promise
of BTC of Bitcoin
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and have had a real
impact on my life.
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And so let's just start off
with the definition of Bitcoin
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because I think it does help
to get into
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meanings and definitions
and why these things are useful.
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So going to
the Bitcoin whitepaper
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we see from the abstract
bitcoin, a peer to peer
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electronic cash system,
a purely peer to peer version of
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electronic cash would allow
online payments
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to be sent directly
from one party to another
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without going through
a financial institution.
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And that is what I truly
believe is happening with this
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value of the value model mixed
with podcasting 2.0,
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we are seeing how people are able
to transact
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directly from listener
to the podcast creator
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in a manner without financial
institutions
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directly peer to peer,
sending value
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through this network.
Incredible. Awesome.
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So we'll be getting on
to podcasting
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2.0 and value for value
a little bit later.
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I want to talk about
the properties, which I was
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hinting at before, and I suppose
we definition
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and meaning of these
because a lot of things
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get squirrelly if you don't have
at least some sort of basic form
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right at the start. So there are
four properties which I believe
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that podcasting to point out
value for value and Bitcoin
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all have together these being
decentralisation,
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self-sovereignty,
permissionless and enabling of
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value transfer. So let's get
into a couple of the definitions
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of these. Typically
with decentralisation,
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it's usually talking about an
organisation mission
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which is doing planning
and decision making.
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And then you can
going from Wikipedia here,
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it can be distributed
or delegated away from a central
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authoritative location
or group and given
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to smaller factions within it.
What I think this is
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really talking about here
is that you can have something
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which is decentralised
and has the property.
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It's a property of
a system where the
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agents are able to
operate locally, they're able
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to make their own decisions
and do their own things
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for self sovereignty.
This is talking about
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having exclusive control over a
something
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that I have a moral right
to not typically
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when you hear of self
sovereignty, you'll be
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usually talking
about someone's body.
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I the the decision
the right to make
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and do what they want
with their body
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whether this be as small
as something
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like getting your ear
pierced to something more
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I suppose radical or more serious
has more serious implications
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such as getting an abortion
or tattooing
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or scouring your body
or vaccinations,
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things like that. In this case,
we're going to be talking
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more about ideas and speech
rather than the body or identity.
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Another one, which is
Self-Sovereign identity,
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an approach to digital identity
that gives individuals
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control over them, permission
they use to prove who they are
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to websites, services
and applications across the web.
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This is obviously very important
today in nowadays
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with a lot of data hacking,
of breaches, of people losing
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confidential information via
not having a secure identity.
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So in this case,
self sovereignty. We're going
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to be focusing
more on the ability for me
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to have the exclusive control
over my ideas and speech
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and not have this influenced or
controlled by other entities.
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For permissionless,
this is pretty easy.
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One does not require
someone else's consent
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or authority
or authority to do so.
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I don't have to ask
someone to take an action
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to do something
that I want to do. And for
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in the case of Bitcoin,
we'll see this in terms
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of sending payments
for value, for value,
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we'll see this in terms
of being able to send that value
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to someone
and doing it in a manner
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in a amounts that I want to.
And for podcasting, we can see
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how this will be. For more
about the spreading
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of those ideas and not requiring
or asking someone,
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Oh please, please
can I send this idea?
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Can I say this thing?
The final one is value transfer
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and this is being able
to move something valuable
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to another geographic location
and to another person
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or to another entity,
or this being a group
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or something like that.
So let's dive into, I suppose,
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the original version
of podcasting
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to start us off with
and how these these four factors
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are really found within it. So
number one, the decentralisation
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though, there is
one source of truth,
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this being the RSS feed.
This can be found on multiple
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directories, i.e. a compilation
of podcasts. This can be curated
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or not curated
and can be accessed
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by many pod catchers, which today
you would now
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call podcasting apps.
And these being typical ones,
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you'll hear of Apple, Spotify,
YouTube maybe, and some of the
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other smaller, but yet
still have sizeable
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people listening to it
which are more independent,
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I guess you would say
would be something
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like podcast addict
or pocket casts. And then there's
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a whole suite of new apps,
which I'll be talking
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about shortly.
So we can definitely see
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how the original version
of podcasting was decentralised.
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Though there was one thing
I could control that
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and this is getting into the self
sovereignty,
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the one source of truth,
the RSS feed.
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I could host my own feed
or I could choose
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to use a podcasting host
and these are typical ones
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you'll hear of Buzz Sprout
or Caster Pod, for example.
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Another more Self-Sovereign one
a blueberry RSS dot com.
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The list of them goes on and on.
So we have, you know,
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this decentralised way to access
a single source of truth,
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which is which I own
or which I have
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at least the ability to own.
And it's permissionless.
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All I need is a microphone
and perhaps a laptop
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or not even that,
maybe just a microphone
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and internet access.
And I can say whatever
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I want, I can swear,
I can talk about taboo
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topics, I can do it and whatever
style of speech
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I want with conversations
with other people or via myself
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talking into a microphone.
So we can see how okay is very
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much permissionless.
The original version
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of podcasting, you could do
whatever you wanted
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and within the limits
of the law of whatever
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country you're in.
The final one here,
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value transfer. Well, what
do podcasts do? Well, typically
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there are spreading of
ideas of information,
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and I would even say
unfiltered, unfiltered,
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individual truth.
So I could speak
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into a microphone
and say whatever I wanted.
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And this doesn't necessarily
have to be correct in terms
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of objective facts,
but it would allow me to express
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a lot of subjective
individual opinions for sure,
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and objective facts as well,
if I was so inclined.
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And we could just see how
this is useful for countries with
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which have authoritarian regimes
and being able to get information
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out of those countries
to know, okay, what actually
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was going on in
Iran and Iraq and what is
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the person on the ground
in Kentucky or the average person
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in Britain thinking
or feeling what what are all of
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their ideas and whatnot?
So we can really see, okay,
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this is what the original version
of podcasting had
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and how these four,
four properties were.
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We're very much satisfied
with in this and why
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it exploded as a medium
and became very, very popular.
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So getting on to, I suppose
the current trends on podcasting
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and knowing just a little bit
more about what, what,
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what's happening, what what is
the current state of it,
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Is this still true of these
do these properties
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still hold in today's day
and age of of podcasting
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as we know it? Once again,
a definition might be helpful.
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So I'm going on to pod news
dot net here, which is owned
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by James Cridland. And he was
just talking about, you know,
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what is the what is a podcast?
And there's the technical answer,
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which most podcast is would agree
that technically a podcast
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has five elements
an audio file in MP
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three or a C format without DRM,
which is digital
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rights management. I believe
the ability available to download
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distributed via RSS feed
using an enclosure tag.
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You can also have video podcasts,
but they are called
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video podcasts. Now this is
the more technical one.
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He goes in this article
that he's written
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to talk about how the definition
is somewhat slid over the years
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and other people would consider,
Oh, okay, you know, something
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that is on Spotify
or YouTube or Apple,
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even though it's not distributed
via RSS, you could still kind of
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call it a podcast,
even though it's not on demand.
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It's kind of like a radio show
if you're subscribing to it.
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And Apple Podcasts is that one.
I'm not going to get too deep
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into the definitions
and talking about is this or is
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this is not a podcast,
but I will talk about what
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we're actually seeing
with a lot of these platforms
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and how they're doing things
which are kind of screwing around
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with those fundamental properties
that we saw earlier.
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So a couple of trends
that we're seeing
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in the podcasting industry over
the last couple of year. Let's
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get on to the first one,
which was decentralisation.
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So this is being able to
have individual
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agents locally acting
upon something. And what we saw
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was that Apple participated
in the de-platforming
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of content on their their app,
which is totally fine,
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but they also had an index
which a lot of other apps
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and some of those ones
that I was mentioning just before
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also link to to find out
where is the source of truth.
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So they weren't going
directly to my RSS feed.
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They were kind of using Apple
as the main source of truth.
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This is where all the podcasts
in the world are,
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even though this is obviously
not not the case because
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what we saw was
there were certain
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types of things that Apple did
or did not want to allow
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on their platform.
That's that's fine. That's their
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their right
as an individual company
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00:11:48,999 --> 00:11:51,961
to to choose what they do
or don't have there.
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00:11:51,961 --> 00:11:54,462
But we do have a problem
when that
223
00:11:54,462 --> 00:12:00,260
company is also filtering
the content, deciding what others
224
00:12:00,260 --> 00:12:06,225
are going to show and
find available in your app. So if
225
00:12:06,225 --> 00:12:10,645
I, for example, was
a fan of Alex Jones, one day
226
00:12:10,645 --> 00:12:14,817
I was able to access his podcast
called Infowars,
227
00:12:14,817 --> 00:12:19,947
and then the next day I wasn't.
This happened pretty regularly
228
00:12:19,947 --> 00:12:22,073
in conjunction
with a lot of kind of
229
00:12:22,073 --> 00:12:27,538
de-platforming of of other
social apps Twitter,
230
00:12:27,538 --> 00:12:30,832
Facebook, Instagram,
that sort of deal. And I suppose
231
00:12:30,832 --> 00:12:33,376
the main problem is that Apple
kind of broke this
232
00:12:33,376 --> 00:12:38,298
with like neutrality and that the
obviously it wasn't
233
00:12:38,298 --> 00:12:41,092
actually decentralised.
We weren't able, for me
234
00:12:41,092 --> 00:12:45,847
as an individual person to access
what I wanted to access. And so
235
00:12:45,847 --> 00:12:47,640
this is where
we can kind of see, okay,
236
00:12:47,640 --> 00:12:50,852
well this maybe the first step of
of things being not truly
237
00:12:50,852 --> 00:12:53,022
decentralised if,
if everything is going
238
00:12:53,022 --> 00:12:57,275
through Apple well and all of
these other apps are accessing
239
00:12:57,275 --> 00:13:01,238
the Apple index to find out
where are all the podcasts,
240
00:13:01,238 --> 00:13:05,326
you know, if they start to
say, no, this isn't on here,
241
00:13:05,326 --> 00:13:08,412
this isn't on here,
while we can say, okay, this,
242
00:13:08,412 --> 00:13:11,706
maybe it's not as decentralised
as we once thought it was,
243
00:13:11,706 --> 00:13:15,336
let's go on to the second factor
here, which was
244
00:13:15,336 --> 00:13:19,005
Self-Sovereign anti. Do you have
exclusive access over
245
00:13:19,005 --> 00:13:22,426
your content and what it is
that you're producing?
246
00:13:22,426 --> 00:13:25,386
Well, let's have a look
at YouTube for example.
247
00:13:25,386 --> 00:13:30,850
I can find podcasts on YouTube.
Yes you can in a sense.
248
00:13:30,850 --> 00:13:34,813
But do you iron out
you do have access to the
249
00:13:34,813 --> 00:13:37,482
to the rights to that.
Do you actually own it? Well,
250
00:13:37,482 --> 00:13:39,818
if you go on to the YouTube
terms of service,
251
00:13:39,818 --> 00:13:42,571
which I have up to here,
you can kind of see.
252
00:13:42,571 --> 00:13:45,490
No, not really.
So there's a section here
253
00:13:45,490 --> 00:13:51,455
talking about the license
to YouTube. So by providing
254
00:13:51,455 --> 00:13:53,916
content to the service
you grant to YouTube, a worldwide
255
00:13:53,916 --> 00:13:56,460
non-exclusive royalty
free sublicensable
256
00:13:56,460 --> 00:13:58,837
and transferable license
to use that content,
257
00:13:58,837 --> 00:14:01,423
including to reproduce,
distribute, prepare,
258
00:14:01,423 --> 00:14:03,759
derivative works,
display and perform it.
259
00:14:03,759 --> 00:14:06,886
So basically YouTube can do
whatever they want with it.
260
00:14:06,886 --> 00:14:08,514
They've got another section here
talking about
261
00:14:08,514 --> 00:14:10,807
the right to monetise
it, saying how
262
00:14:10,807 --> 00:14:13,059
they have the right
to put ads to do
263
00:14:13,059 --> 00:14:15,937
whatever they want
with your content and you don't
264
00:14:15,937 --> 00:14:18,274
actually have the right
to any money
265
00:14:18,274 --> 00:14:21,652
from that necessarily.
Now of course they
266
00:14:21,652 --> 00:14:25,614
they do pay out.
They do have a a platform
267
00:14:25,614 --> 00:14:29,534
which does allow creators
to, to monetise and get a portion
268
00:14:29,534 --> 00:14:32,078
of that. But you know,
they get to decide
269
00:14:32,078 --> 00:14:34,748
essentially what it is.
The most important
270
00:14:34,748 --> 00:14:37,458
portion of this is actually the
removing of content.
271
00:14:37,458 --> 00:14:41,672
And so if we go onto here
removal of content by YouTube,
272
00:14:41,672 --> 00:14:44,466
if we reasonably believe
that any of your content
273
00:14:44,466 --> 00:14:46,927
is in breach of the
of this agreement or may cause
274
00:14:46,927 --> 00:14:50,139
harm to YouTube, our users
or third parties, we reserve the
275
00:14:50,139 --> 00:14:52,057
right to remove
or take down that content
276
00:14:52,057 --> 00:14:56,437
in our discretion. So once again
with kind of seeing now is this
277
00:14:56,437 --> 00:14:59,523
really self-sovereign,
do you really have the right
278
00:14:59,523 --> 00:15:03,777
the ability to own and access
exclusively your thoughts,
279
00:15:03,777 --> 00:15:07,364
what you're saying, your ideas
and your speech? No, not really.
280
00:15:07,364 --> 00:15:10,909
YouTube has a pretty big portion
of this, a stronghold on
281
00:15:10,909 --> 00:15:14,871
what you can and can't say.
How have they been
282
00:15:14,871 --> 00:15:19,000
tyrannical in their in the
deciding of what is
283
00:15:19,000 --> 00:15:23,047
and isn't allowed?
It depends on who you ask. Sure,
284
00:15:23,047 --> 00:15:24,465
you're allowed
to kind of criticise
285
00:15:24,465 --> 00:15:27,216
YouTube if you want to
and there are many videos
286
00:15:27,216 --> 00:15:29,094
on YouTube doing that.
But then there's
287
00:15:29,094 --> 00:15:30,763
also a lot of stuff
which they've said,
288
00:15:30,763 --> 00:15:34,850
No, we feel this is not this is
causing harm
289
00:15:34,850 --> 00:15:36,894
to YouTube, our users
or third parties.
290
00:15:36,894 --> 00:15:39,562
So we're going to take this away,
which is very much different
291
00:15:39,562 --> 00:15:41,981
from the self sovereignty
of being able
292
00:15:41,981 --> 00:15:47,071
to host your own hardware
and have your own software,
293
00:15:47,071 --> 00:15:49,990
your own feed RSS feed
contained within that
294
00:15:49,990 --> 00:15:54,370
where you can own the full stack
you have control over, you know,
295
00:15:54,370 --> 00:15:57,246
your house, the hardware
within your house, the software
296
00:15:57,246 --> 00:16:00,833
that is in that and the content
that is getting distributed
297
00:16:00,833 --> 00:16:04,754
out to the world. So once again,
we can kind of say,
298
00:16:04,754 --> 00:16:09,092
well, you know, if YouTube is
hosting podcasts, no, it's not
299
00:16:09,092 --> 00:16:13,054
really satisfying the self
sovereignty aspect of of what
300
00:16:13,054 --> 00:16:16,225
I was talking about. Let's go on
to the third one,
301
00:16:16,225 --> 00:16:19,937
which was permissionless.
Anyone can access it.
302
00:16:19,937 --> 00:16:23,315
The definition of permissionless,
again, does not require
303
00:16:23,315 --> 00:16:27,152
someone else's content,
consent or authorisation.
304
00:16:27,152 --> 00:16:30,072
And let's have a little
look at Spotify. Well,
305
00:16:30,072 --> 00:16:32,783
what has Spotify
been doing over this last
306
00:16:32,783 --> 00:16:34,868
couple of years?
What they've been doing
307
00:16:34,868 --> 00:16:38,913
is hosting a lot of feeds
through their subsidiary service
308
00:16:38,913 --> 00:16:42,835
called Anchor. And if you are
an anchor user, what you will
309
00:16:42,835 --> 00:16:45,671
actually find is
you don't necessarily
310
00:16:45,671 --> 00:16:48,340
have an RSS feed.
You actually don't have
311
00:16:49,383 --> 00:16:51,884
this kind of
permissionless aspect for people
312
00:16:51,884 --> 00:16:55,806
to access your content
wherever they want. Know there is
313
00:16:55,806 --> 00:16:58,725
a gatekeeper. The gatekeeper
is now Spotify because they
314
00:16:58,725 --> 00:17:01,854
haven't allowed this RSS
to go out to the broader
315
00:17:01,854 --> 00:17:04,897
ecosystem.
So people can't find your
316
00:17:04,897 --> 00:17:10,362
your content on Apple, on
on YouTube or on any of these
317
00:17:10,362 --> 00:17:13,365
smaller apps pocket casts,
for example,
318
00:17:13,365 --> 00:17:15,951
because there's no RSS
feed, they own it.
319
00:17:15,951 --> 00:17:19,496
They are the gatekeeper, so it's
not permissionless. And we can
320
00:17:19,496 --> 00:17:22,665
really see this how they
they've done this with Joe Rogan
321
00:17:22,665 --> 00:17:26,711
so got his content and now
he agreed to that. So once again
322
00:17:26,711 --> 00:17:29,048
if you're agreeing to this,
that's totally fine.
323
00:17:29,048 --> 00:17:32,050
And as a company
they have the right to try
324
00:17:32,050 --> 00:17:35,511
and create exclusive shows and do
whatever they want.
325
00:17:36,596 --> 00:17:40,433
That's totally fine.
Is it a podcast? Yeah.
326
00:17:40,433 --> 00:17:42,810
Once again, you're kind of
saying that, no, it's
327
00:17:42,810 --> 00:17:44,354
not really becoming
permissionless.
328
00:17:44,354 --> 00:17:47,775
It's now it's becoming.
No, you have to access
329
00:17:47,775 --> 00:17:50,736
this content through one
exclusive service,
330
00:17:50,736 --> 00:17:54,615
this being Spotify. And it's not
just Spotify doing this.
331
00:17:54,615 --> 00:17:59,077
You can see YouTube trying to do
similar things. Apple is also
332
00:17:59,077 --> 00:18:02,538
trying to do similar things
with their subscription service.
333
00:18:02,538 --> 00:18:06,125
There's very much this aspect of
these kind of walled
334
00:18:06,125 --> 00:18:10,547
gardens coming in. Podcasting
was this open ecosystem.
335
00:18:10,547 --> 00:18:14,634
It was this beautiful place
where you could find content
336
00:18:14,634 --> 00:18:16,511
wherever you want.
If you didn't like this
337
00:18:16,511 --> 00:18:18,096
particular app,
if you couldn't find it
338
00:18:18,096 --> 00:18:20,140
there, well, you can go over
to this other one
339
00:18:20,140 --> 00:18:22,726
and you'll find it there.
And what we're actually seeing
340
00:18:22,726 --> 00:18:25,144
is this starting to be
this kind of closing off
341
00:18:25,144 --> 00:18:27,105
is sectioning off.
You can only find
342
00:18:27,105 --> 00:18:29,232
Joe Rogan on Spotify.
You can only find
343
00:18:29,232 --> 00:18:32,693
this thing on YouTube.
And I think this is kind of
344
00:18:32,693 --> 00:18:35,614
antithetical to
what podcasting is and should be.
345
00:18:35,614 --> 00:18:37,865
It is open,
it is free for everyone,
346
00:18:37,865 --> 00:18:41,619
and it's now developing
this kind of closed version,
347
00:18:41,619 --> 00:18:44,623
or at least that's the the
the trend that we've been
348
00:18:44,623 --> 00:18:46,375
seeing over
the last couple of years.
349
00:18:46,375 --> 00:18:50,753
And then finally, on the value
transfer aspect, this is where
350
00:18:50,753 --> 00:18:53,382
I'm going to talk a little bit
about advertising
351
00:18:53,382 --> 00:18:55,634
and what is the,
I suppose, main way
352
00:18:55,634 --> 00:18:59,471
that you will hear of podcasters
monetising their content
353
00:18:59,471 --> 00:19:03,267
is through advertising.
It's through getting sponsors
354
00:19:03,267 --> 00:19:06,353
coming on to their show
and they will do a host, Fred
355
00:19:06,353 --> 00:19:09,815
ad of, you know, I love this
sort of thing, blah, blah, blah.
356
00:19:09,815 --> 00:19:14,653
I use it every day or they will
might even have the more
357
00:19:14,862 --> 00:19:17,321
nastier ones which are dynamic
ad insertions.
358
00:19:17,321 --> 00:19:19,657
These are just random ads
placed in the middle
359
00:19:19,657 --> 00:19:22,536
of your content once again,
with your permission.
360
00:19:22,536 --> 00:19:26,080
But as the podcast host.
But we're looking
361
00:19:26,080 --> 00:19:28,791
at this kind of value transfer.
Is this actually improving,
362
00:19:28,791 --> 00:19:31,961
making the shows better?
I would probably say
363
00:19:31,961 --> 00:19:35,298
for 99% of advertising.
No, no, you're
364
00:19:35,298 --> 00:19:38,551
getting a random thing
not directed towards you,
365
00:19:38,551 --> 00:19:41,762
perhaps not applicable
to anything that you care about.
366
00:19:41,762 --> 00:19:44,098
And we can see some really
funny instances
367
00:19:44,098 --> 00:19:46,476
of this happening on.
I think it was like
368
00:19:46,476 --> 00:19:49,813
a children's show
and a wild turkey bourbon ad
369
00:19:49,813 --> 00:19:54,276
would appear in the middle of it
or it would be, you know, a
370
00:19:54,276 --> 00:19:57,613
typically gets into
political things and I'm not
371
00:19:57,613 --> 00:20:00,199
going to dive into that area.
But we can definitely see,
372
00:20:00,199 --> 00:20:03,535
okay, with
with especially dynamic
373
00:20:03,535 --> 00:20:07,122
ad insertions, it's not actually
making a better show.
374
00:20:07,122 --> 00:20:11,960
The value transfer is not
really becoming better arguable.
375
00:20:11,960 --> 00:20:14,086
I'll let that one slide
if people want to argue
376
00:20:14,086 --> 00:20:17,007
with me over that one
so we can kind of see,
377
00:20:17,007 --> 00:20:20,509
okay, there's that there's
some problems developing and it's
378
00:20:20,509 --> 00:20:24,765
podcasting is is changing away
from this open system
379
00:20:24,765 --> 00:20:28,477
to a closed one
or at least we saw some trends
380
00:20:28,477 --> 00:20:30,394
of this happening.
So what are we going to do?
381
00:20:30,394 --> 00:20:34,357
We're going to fix it. So this is
where podcasting 2.0 comes in
382
00:20:34,357 --> 00:20:37,568
and podcasting 2.0 is a community
of developers,
383
00:20:37,568 --> 00:20:40,029
of hosts, of podcasts
and listeners
384
00:20:40,029 --> 00:20:42,115
who all have one goal
and that is to
385
00:20:42,115 --> 00:20:44,242
improve podcasting.
Now, the funny thing
386
00:20:44,242 --> 00:20:46,662
about podcasting
is it's kind of been in a
387
00:20:46,662 --> 00:20:52,125
lag or a very stilted
swamp for a while.
388
00:20:52,125 --> 00:20:54,252
There was no innovations.
Nothing particularly
389
00:20:54,252 --> 00:20:57,713
new was happening for,
jeez, close to 15 years
390
00:20:57,713 --> 00:21:05,305
from when it was first created
that 2003 2004 era of time
391
00:21:05,305 --> 00:21:08,432
towards Apple getting into it.
And this is
392
00:21:08,432 --> 00:21:11,435
where the pod comes from
because it came from the iPod
393
00:21:11,435 --> 00:21:15,731
or that was where the audio files
were first, being really easily
394
00:21:15,731 --> 00:21:18,818
accessible by people
who were non nerds
395
00:21:18,818 --> 00:21:21,070
and just normal, everyday folks.
And they had
396
00:21:21,070 --> 00:21:22,614
an app on their phone.
They were like, Well,
397
00:21:22,614 --> 00:21:26,326
look at all this content.
Amazing. And it was kind of
398
00:21:26,326 --> 00:21:30,247
just stagnating a bit.
For example, why couldn't
399
00:21:30,247 --> 00:21:34,166
you just have a picture appear
on your screen? If you're talking
400
00:21:34,166 --> 00:21:37,045
about something, you see this
all the time with podcasters
401
00:21:37,045 --> 00:21:40,089
will hear it all the time.
They'll be talking about a graph,
402
00:21:40,089 --> 00:21:42,259
they'll be talking about
a funny photo, they'll be talking
403
00:21:42,259 --> 00:21:43,969
about something
and trying to describe
404
00:21:43,969 --> 00:21:47,346
it to their listeners.
This is great. This is what
405
00:21:47,346 --> 00:21:49,891
audio is for. But man, wouldn't
it just be awesome
406
00:21:49,891 --> 00:21:52,227
just to have the ability
to have that photo
407
00:21:52,227 --> 00:21:55,646
appear on the screen? But why?
Why wouldn't that be doable?
408
00:21:55,646 --> 00:21:58,775
That's not podcasting.
You can't you know, we can't have
409
00:21:58,775 --> 00:22:00,943
the innovations like that.
It is too hard.
410
00:22:00,943 --> 00:22:02,945
It's too difficult.
Would need this person
411
00:22:02,945 --> 00:22:05,574
to coordinate with this person
and this group to this group.
412
00:22:05,574 --> 00:22:07,784
And this is actually
where you can kind of see
413
00:22:07,784 --> 00:22:10,787
the decentralised nature of it
actually was a problem
414
00:22:10,787 --> 00:22:13,205
because you would need
the podcast hosts
415
00:22:13,205 --> 00:22:16,960
to agree with Apple, to agree
with the podcast apps
416
00:22:16,960 --> 00:22:21,464
that we're all going to support
this change to the format
417
00:22:21,464 --> 00:22:26,053
of podcasting of the RSS feed.
And it was very hard
418
00:22:26,053 --> 00:22:28,596
to coordinate those all,
all those sorts of things.
419
00:22:29,597 --> 00:22:34,728
So podcasting 2.0 was a
started by Adam Curry, who was
420
00:22:34,728 --> 00:22:36,771
incidentally enough,
the guy who helped
421
00:22:36,771 --> 00:22:39,816
to create podcasting, the very
original version. So he was
422
00:22:39,816 --> 00:22:46,030
a former deejay, MTV DJ,
so he was very much in the
423
00:22:46,030 --> 00:22:52,788
music slash video realm,
interested in digital
424
00:22:52,788 --> 00:22:54,830
content creation.
But that's kind of been
425
00:22:54,830 --> 00:22:58,794
his main shtick for forever.
And he helped focus
426
00:22:58,794 --> 00:23:01,755
and drive the developing
of the medium of podcasting.
427
00:23:01,755 --> 00:23:05,467
He was the one who was
suggesting with Dave,
428
00:23:05,467 --> 00:23:09,512
Dave Winer, the creator,
I guess the programmer
429
00:23:09,512 --> 00:23:13,057
who invented RSS and saying, Ah,
that wouldn't be great
430
00:23:13,057 --> 00:23:16,685
if we could put audio files
into into RSS and make that part
431
00:23:16,685 --> 00:23:20,315
of the standard.
And then he helped develop it
432
00:23:20,315 --> 00:23:23,484
through a show called the Daily
Source Code, which would help
433
00:23:23,484 --> 00:23:26,113
go on to help develop
the medium of allowing
434
00:23:26,113 --> 00:23:30,575
app developers to play with
different tags to to enable
435
00:23:31,576 --> 00:23:35,413
apps to access this audio and
to create all of these
436
00:23:35,413 --> 00:23:37,374
new things.
He's very much doing that
437
00:23:37,374 --> 00:23:39,125
at the moment with the show.
Funnily enough,
438
00:23:39,125 --> 00:23:43,046
called Podcasting 2.0,
where himself and another person
439
00:23:43,046 --> 00:23:45,589
called Dave Jones,
who is a sysadmin
440
00:23:45,589 --> 00:23:48,509
many, many years
experience of open source
441
00:23:48,509 --> 00:23:51,221
and database work
and the two of them
442
00:23:51,221 --> 00:23:56,559
have combined to create and help
create a new standard and to
443
00:23:56,559 --> 00:24:00,105
enable some of these features,
one of which I mentioned before,
444
00:24:00,105 --> 00:24:03,400
such as an image
appearing in your app.
445
00:24:03,400 --> 00:24:05,317
Why can't we have
all this new innovation,
446
00:24:05,317 --> 00:24:09,071
these new things going on? Well,
it was kind of this chicken
447
00:24:09,071 --> 00:24:11,866
and the egg scenario.
And so Adam just decided
448
00:24:11,866 --> 00:24:14,201
we're going to be the chicken
and we're going to lay some eggs.
449
00:24:14,201 --> 00:24:17,580
And these eggs are the new value,
the innovation that is
450
00:24:17,580 --> 00:24:20,166
occurring in podcasting.
So this is really getting
451
00:24:20,166 --> 00:24:22,461
into the heart
of podcasting to point to
452
00:24:22,461 --> 00:24:27,298
the future of podcasting.
What what is
453
00:24:27,298 --> 00:24:28,924
entailed within this? Well,
there's a couple
454
00:24:28,924 --> 00:24:32,261
of different things which I'll
try to explain here.
455
00:24:32,261 --> 00:24:34,388
The first of this
is the podcast index.
456
00:24:34,388 --> 00:24:37,683
This was the very first step,
and this was getting the
457
00:24:37,683 --> 00:24:40,186
kind of decentralisation
back into podcasting.
458
00:24:40,186 --> 00:24:45,525
So they created their own index,
which by their own words here,
459
00:24:45,525 --> 00:24:48,068
the podcast index is here
to preserve, protect
460
00:24:48,068 --> 00:24:50,739
and extend the open
independent podcast
461
00:24:50,739 --> 00:24:54,116
podcasting ecosystem. We do this
by enabling developers
462
00:24:54,116 --> 00:24:56,452
to have access to an open
categorised index
463
00:24:56,452 --> 00:24:58,622
that will always
be available for free.
464
00:24:58,622 --> 00:25:01,916
But any use so beautiful,
we have this index
465
00:25:01,916 --> 00:25:05,377
which now solves
that problem of Apple
466
00:25:05,377 --> 00:25:09,798
taking off shows and
and not allowing certain content.
467
00:25:09,798 --> 00:25:15,180
The index. They also have
some measures for it's not
468
00:25:15,180 --> 00:25:17,682
technically ingesting
every single thing,
469
00:25:17,682 --> 00:25:20,977
which is an audio
file in an RSS feed.
470
00:25:20,977 --> 00:25:22,811
They do have a couple
of limits in place
471
00:25:22,811 --> 00:25:26,775
such as it needs to have
more than one episode.
472
00:25:26,775 --> 00:25:29,318
It needs to be more
than a certain amount of time.
473
00:25:29,318 --> 00:25:31,695
It needs to be someone
not just going to test,
474
00:25:31,695 --> 00:25:34,115
test, test into a microphone
because they're
475
00:25:34,115 --> 00:25:37,451
trying out a podcast
for the first time on something
476
00:25:37,451 --> 00:25:40,872
like Anchor, which typically
draws in a lot of
477
00:25:40,872 --> 00:25:42,915
kind of trashy people
just testing it out
478
00:25:42,915 --> 00:25:45,251
for the first time,
not nothing of of
479
00:25:45,251 --> 00:25:50,923
actual real value there now to
to kind of foster the creativity.
480
00:25:50,923 --> 00:25:53,468
So they started the index
and now awesome. We've got
481
00:25:53,468 --> 00:25:57,846
a beautiful point
where developers can have a more
482
00:25:57,846 --> 00:26:00,349
another source of truth.
Where are all the podcasts?
483
00:26:00,349 --> 00:26:02,434
Where can we find
these different things?
484
00:26:02,434 --> 00:26:04,895
And they also
developed a namespace
485
00:26:04,895 --> 00:26:08,775
which was to foster creativity
and open input. So a namespace
486
00:26:08,775 --> 00:26:11,152
is essentially
just saying, Here's a group
487
00:26:11,152 --> 00:26:15,824
of rules of definitions
of standards as to
488
00:26:15,824 --> 00:26:20,619
what you can do with an RSS feed.
And this basically means
489
00:26:20,619 --> 00:26:24,833
what are some rules that if I put
in some images or if I put in
490
00:26:24,833 --> 00:26:29,421
some extra links or some texts,
that's other podcasting apps
491
00:26:29,421 --> 00:26:32,048
who are developing new stuff
and new innovative
492
00:26:32,048 --> 00:26:34,925
ideas can look at
and they'll be just a
493
00:26:34,925 --> 00:26:37,721
formal language,
I suppose you can make
494
00:26:37,721 --> 00:26:40,765
basically imagine it as like
with my abbreviations
495
00:26:40,765 --> 00:26:45,478
right at the start.
It's a way of saying, okay, P 2.0
496
00:26:45,478 --> 00:26:49,691
that means podcasting 2.0 V For V
that means value for value
497
00:26:49,691 --> 00:26:51,984
and just having a set
of definitions of standard
498
00:26:51,984 --> 00:26:55,529
so that people looking at an RSS
feed can say, okay,
499
00:26:55,529 --> 00:26:58,115
I know how to, I know
what to do with this, I know how
500
00:26:58,115 --> 00:27:01,786
I can show this in my app
and create some cool new features
501
00:27:01,786 --> 00:27:07,125
which gets us onto the tags.
A.K.A the features. So podcasting
502
00:27:07,125 --> 00:27:10,002
2.0 was started,
I believe in 2020
503
00:27:10,002 --> 00:27:14,007
and so this was yeah,
roughly three years ago.
504
00:27:14,007 --> 00:27:16,843
What have they done since then?
Well, there have been
505
00:27:16,843 --> 00:27:21,181
25 formalised tags.
So once again, these are features
506
00:27:21,181 --> 00:27:23,892
in roughly two and a half years
since they
507
00:27:23,892 --> 00:27:27,394
started formalising them.
And so what are some of these
508
00:27:27,394 --> 00:27:30,065
cool new features?
While one is the lit tag,
509
00:27:30,065 --> 00:27:33,942
the live item tag,
which means that as a podcaster
510
00:27:33,942 --> 00:27:36,738
I can choose to go live.
And there's a way now
511
00:27:36,738 --> 00:27:41,076
for podcasting apps to see.
Oh, Curran's live. We can show
512
00:27:41,076 --> 00:27:43,662
this in our app and have a
live experience
513
00:27:43,662 --> 00:27:47,749
much like you will see on YouTube
or live broadcasts. There is a
514
00:27:47,749 --> 00:27:50,376
a demand, a thirst for this.
People actually enjoy
515
00:27:50,376 --> 00:27:53,003
listening to things live
because it is in the moment
516
00:27:53,003 --> 00:27:57,008
happens right then we also have
something like the chapters
517
00:27:57,008 --> 00:27:59,678
and so this is being able
to see timestamps
518
00:27:59,678 --> 00:28:03,890
so if I wanted to and I do,
I always put in chapters
519
00:28:03,890 --> 00:28:07,477
into to my podcast. So if you're
not interested
520
00:28:07,477 --> 00:28:10,814
in a certain section,
you can have a brief glimpse,
521
00:28:10,814 --> 00:28:13,107
a summary and go, Oh,
you know, midway through
522
00:28:13,107 --> 00:28:14,942
that looks like
an interesting point.
523
00:28:14,942 --> 00:28:19,029
Click on that and you get taken
to right there with this.
524
00:28:19,029 --> 00:28:21,199
You can also have
an image associated
525
00:28:21,199 --> 00:28:23,201
with that chapter.
So you will be hearing me
526
00:28:23,201 --> 00:28:26,078
talk about some graphs later on
and I'll be directing
527
00:28:26,078 --> 00:28:28,373
you to, hey, go to an app
where you can actually
528
00:28:28,373 --> 00:28:29,874
see this image
because it will help
529
00:28:29,874 --> 00:28:31,835
you understand
what I'm talking about.
530
00:28:31,835 --> 00:28:34,045
You can also have a link
in that section.
531
00:28:34,045 --> 00:28:37,423
Another common thing you'll hear
podcast is saying are
532
00:28:37,423 --> 00:28:39,675
links in the show notes.
When you have five
533
00:28:39,675 --> 00:28:42,761
different links,
where do you put them?
534
00:28:42,761 --> 00:28:45,265
How does someone know
which one to go to? Whereas
535
00:28:45,265 --> 00:28:48,058
if you're saying that
and you actually have the link
536
00:28:48,058 --> 00:28:51,104
appearing on the screen
or associated with a chapter,
537
00:28:51,104 --> 00:28:54,148
it's much more easy
to go, Oh, okay. As the listener.
538
00:28:54,148 --> 00:28:56,108
Beautiful. I know what's
going on here.
539
00:28:56,108 --> 00:29:00,404
I know how I can tap ingest this.
I know how I can do
540
00:29:00,404 --> 00:29:02,030
something with the section.
So it's not just
541
00:29:02,030 --> 00:29:05,910
kind of a pointless
throwaway thing.
542
00:29:05,910 --> 00:29:08,203
We also have something
like the transcript tag.
543
00:29:08,203 --> 00:29:11,833
Great for accessibility.
So if you are hard of hearing
544
00:29:11,833 --> 00:29:15,336
and you want to see the words
appearing on your screen
545
00:29:15,336 --> 00:29:17,255
as you're listening to
your podcasts,
546
00:29:17,255 --> 00:29:20,759
you can do this now.
This is doable. And this was just
547
00:29:20,759 --> 00:29:23,010
one of those things where it's
such an obvious,
548
00:29:23,010 --> 00:29:27,182
blindingly easy thing,
but for 15 years it wasn't done.
549
00:29:27,182 --> 00:29:31,478
What are we doing? You know?
So it's really amazing to
550
00:29:31,478 --> 00:29:33,395
to have that. It's also great
for search.
551
00:29:33,395 --> 00:29:36,482
So if someone was coming
to the mere mortals
552
00:29:36,482 --> 00:29:38,442
and I was talking
about an old episode
553
00:29:38,442 --> 00:29:40,361
or I was talking about
a particular thing in a
554
00:29:40,361 --> 00:29:44,281
in a in an episode, they could
go, okay, yeah,
555
00:29:44,281 --> 00:29:47,535
Adam Curry mentioned him.
Where was that in the episode?
556
00:29:47,535 --> 00:29:49,913
I want to replay
that to my friend. They can click
557
00:29:49,913 --> 00:29:52,539
on the transcript type
in Adam Curry, then it'll
558
00:29:52,539 --> 00:29:57,670
show up instantly. So once again,
it's just an easy feature
559
00:29:57,670 --> 00:30:00,423
which is so useful to have.
It is something
560
00:30:00,423 --> 00:30:04,426
that's been cried out
for for ages and nothing
561
00:30:04,426 --> 00:30:08,306
was done about it. The final one,
which is well, not the final one.
562
00:30:08,306 --> 00:30:11,308
Another example is the value tag,
which I will be
563
00:30:11,308 --> 00:30:16,355
getting on to soon
add, which is talking about how
564
00:30:16,355 --> 00:30:20,943
we can now have the ability
in the RSS in the podcast, me
565
00:30:20,943 --> 00:30:24,696
as a podcast host
to direct people to help
566
00:30:24,696 --> 00:30:28,034
to how they can help support me
directly,
567
00:30:28,034 --> 00:30:31,287
financially, monetarily,
within their actual app
568
00:30:31,287 --> 00:30:32,955
without having to jump
through the five
569
00:30:32,955 --> 00:30:35,916
different hoops of
go to this website, you know,
570
00:30:35,916 --> 00:30:39,546
activate PayPal on this
to try and send this to here,
571
00:30:39,546 --> 00:30:42,548
go to this subscription service
and subscribe here,
572
00:30:42,548 --> 00:30:45,676
go to this paywall and choose
one of the options there
573
00:30:45,676 --> 00:30:47,345
and then you'll
be able to get you know,
574
00:30:47,345 --> 00:30:50,640
it's it's just so much easier,
so much better.
575
00:30:50,640 --> 00:30:53,476
And we'll be getting on
to the value tag shortly.
576
00:30:54,769 --> 00:30:57,438
What else have they
helped to sponsor? Well, now
577
00:30:57,438 --> 00:31:00,191
there are more than 40
different apps which support
578
00:31:00,191 --> 00:31:03,944
the name space, i.e. they support
at least one of these
579
00:31:03,944 --> 00:31:05,738
different tags.
And there are several
580
00:31:05,738 --> 00:31:09,741
podcasting apps which have gone
the full gamut and basically
581
00:31:09,741 --> 00:31:12,412
almost on top
of every single change.
582
00:31:12,412 --> 00:31:16,415
And so you can see that
there are apps which whilst
583
00:31:16,415 --> 00:31:19,751
they might not have the, the name
branding of an Apple
584
00:31:19,751 --> 00:31:22,755
or a Spotify, I believe
they actually have features
585
00:31:22,755 --> 00:31:26,217
which are much, much better
and which
586
00:31:26,217 --> 00:31:28,553
allow you as the listener
to have a better
587
00:31:28,553 --> 00:31:30,846
listening experience
to actually dive into it
588
00:31:30,846 --> 00:31:34,392
or as the podcast to provide
more value to your listeners
589
00:31:34,392 --> 00:31:38,645
so you can put in extra effort.
Otherwise you're kind of just
590
00:31:38,645 --> 00:31:42,066
creating audio and sure,
you can shorten it up,
591
00:31:42,066 --> 00:31:43,567
you can chop it up,
you can get different
592
00:31:43,567 --> 00:31:47,238
guests on and whatnot, but you've
you're very restricted in terms
593
00:31:47,238 --> 00:31:51,284
of having those extra features
which can help your audience.
594
00:31:51,284 --> 00:31:53,493
If you are, say,
a financial podcast
595
00:31:53,493 --> 00:31:57,039
and looking at graphs at all
the time, or you are a podcast
596
00:31:57,039 --> 00:32:00,585
which wants to acknowledge
the different guests and hosts
597
00:32:00,585 --> 00:32:02,295
that you have on,
you can now do that
598
00:32:02,295 --> 00:32:05,213
with the person tag. So there's
lots of really, really cool
599
00:32:05,213 --> 00:32:07,424
things going on
and basically it's
600
00:32:07,424 --> 00:32:11,261
allowing for connectivity
between podcasters and listeners,
601
00:32:11,261 --> 00:32:15,432
a more easy access
between the two of them
602
00:32:15,432 --> 00:32:17,809
so that the podcaster
and the listener aren't
603
00:32:17,809 --> 00:32:21,772
in this kind of black box,
which you can find yourself in
604
00:32:21,772 --> 00:32:23,523
where you're creating things
and you're not sure
605
00:32:23,523 --> 00:32:26,443
if anyone's listening or you're
responding to things
606
00:32:26,443 --> 00:32:28,363
as the listener
and you're not sure that message
607
00:32:28,363 --> 00:32:29,696
is getting through
to the podcast.
608
00:32:29,696 --> 00:32:32,951
Host Very, very common
problem in podcasting.
609
00:32:34,117 --> 00:32:38,830
Let's get on to value for value.
And my explanation of this,
610
00:32:38,830 --> 00:32:43,086
which is it's really simple
but complex in the nuances.
611
00:32:43,086 --> 00:32:46,964
So I've actually done
a full new podcast
612
00:32:46,964 --> 00:32:49,174
called Value for Value.
If you type that in into
613
00:32:49,174 --> 00:32:50,593
your podcast app,
you'll find that
614
00:32:50,593 --> 00:32:54,096
and there's two seasons,
roughly about 36 episodes
615
00:32:54,096 --> 00:32:57,976
which go into the nuances.
But right here I would just say
616
00:32:57,976 --> 00:33:02,480
it's basically a trade of value
to form a circular economy
617
00:33:02,480 --> 00:33:06,275
is basically what it is.
So I create value, i.e.
618
00:33:06,275 --> 00:33:09,194
this digital content,
this audio or video,
619
00:33:09,194 --> 00:33:11,029
because I also put
this on YouTube
620
00:33:11,029 --> 00:33:15,159
and I just ask, Hey,
here it is, free upfront,
621
00:33:15,159 --> 00:33:18,246
you can ingested
as much as you want, you know,
622
00:33:18,246 --> 00:33:21,874
welcome your and enjoy it
as much as you want. All I ask
623
00:33:21,874 --> 00:33:24,376
is that you return some value
back to me now.
624
00:33:24,376 --> 00:33:28,131
Value is very subjective
and it can be varied.
625
00:33:28,131 --> 00:33:33,428
Adam Curry once again coming in,
who was the pioneer of this value
626
00:33:33,428 --> 00:33:37,306
for value model, i.e.
a model which is suited
627
00:33:37,306 --> 00:33:40,351
primarily for digital
content creators.
628
00:33:40,351 --> 00:33:43,479
And he likes to say
the three TS of time
629
00:33:43,479 --> 00:33:46,816
talent and treasure.
So you have time. You could share
630
00:33:46,816 --> 00:33:51,112
this episode with a friend.
You could spend the time
631
00:33:51,112 --> 00:33:54,406
to explain some of the content
concepts in here.
632
00:33:54,406 --> 00:33:58,744
You can do many things
which don't require a real active
633
00:33:58,744 --> 00:34:02,914
effort on your part
to to do something to, to really,
634
00:34:02,914 --> 00:34:06,126
really go out of your way
and either spend money
635
00:34:06,126 --> 00:34:09,380
or anything like that.
There is talent. So if I say
636
00:34:09,380 --> 00:34:12,592
something wrong, if I have got
the history wrong, if I put it in
637
00:34:12,592 --> 00:34:15,969
a wrong note, if you are
an audio engineer
638
00:34:15,969 --> 00:34:19,724
and you hear a car
and could improve the podcast
639
00:34:19,724 --> 00:34:23,268
by putting more sound panels,
I definitely could,
640
00:34:23,268 --> 00:34:27,273
then you can help provide
that talent back
641
00:34:27,273 --> 00:34:31,027
and you can see for no agenda
that Adam Curry is mean.
642
00:34:31,027 --> 00:34:34,237
Show that.
They have a full website,
643
00:34:34,237 --> 00:34:36,865
they have a store,
they have people helping out
644
00:34:36,865 --> 00:34:40,994
in a myriad of different ways
because this show is rather large
645
00:34:40,994 --> 00:34:44,498
and people like to help out.
And so we can see, okay,
646
00:34:44,498 --> 00:34:46,541
there are people
who are very talented
647
00:34:46,541 --> 00:34:48,585
in something
which I'm not talented.
648
00:34:48,585 --> 00:34:51,755
Let's just talk about
creating artwork, for example,
649
00:34:51,755 --> 00:34:56,469
and if I had an audience member
who didn't want to support in a
650
00:34:56,469 --> 00:34:58,137
monetary form,
they could support me
651
00:34:58,137 --> 00:35:01,681
by sending an artwork and helping
to provide value.
652
00:35:01,681 --> 00:35:04,268
That way. Amazing.
And then finally,
653
00:35:04,268 --> 00:35:07,146
of course, treasure that is
supporting monetarily.
654
00:35:07,146 --> 00:35:10,565
We all have to acknowledge
this is a world where Fiat
655
00:35:10,565 --> 00:35:13,693
dominates, where
the the needs of reality
656
00:35:13,693 --> 00:35:17,030
very much dominate us.
And so we do need to eat,
657
00:35:17,030 --> 00:35:20,367
we do need to sleep somewhere.
We do need to have access
658
00:35:20,367 --> 00:35:23,121
to services. And all of this
requires money.
659
00:35:23,121 --> 00:35:25,831
So money is very much
an important part of this,
660
00:35:25,831 --> 00:35:30,085
the treasure part.
And so being able to get direct
661
00:35:30,085 --> 00:35:33,588
contributions from your audience
because maybe that time for
662
00:35:33,588 --> 00:35:36,175
maybe they don't have a talent
which is really suited
663
00:35:36,175 --> 00:35:38,094
for your show,
but maybe they're rich
664
00:35:38,094 --> 00:35:39,887
and so they can just
help support your show.
665
00:35:39,887 --> 00:35:43,349
Or maybe they are also,
you know, time poor,
666
00:35:43,349 --> 00:35:46,059
maybe they're not even rich,
but they still want to contribute
667
00:35:46,059 --> 00:35:48,521
in some way.
This is what the value
668
00:35:48,521 --> 00:35:52,775
for value model emphasise is
if you get value from this,
669
00:35:52,775 --> 00:35:54,693
I just offset your return
and that value
670
00:35:54,693 --> 00:35:56,737
is completely subjective.
You can choose
671
00:35:56,737 --> 00:35:59,990
how much or how little
that you want to give back.
672
00:35:59,990 --> 00:36:03,494
Now, all of this is roughly
opposed to, I suppose,
673
00:36:03,494 --> 00:36:08,039
advertising to sponsorship
to payables or VC
674
00:36:08,039 --> 00:36:11,043
venture capital funding,
but it's not necessary
675
00:36:11,043 --> 00:36:13,753
really exclusive
against this, i.e.
676
00:36:13,753 --> 00:36:16,340
if you want to run advertising in
your podcast,
677
00:36:16,340 --> 00:36:19,467
you can still do that
and also do the value
678
00:36:19,467 --> 00:36:22,722
for value model at the same time.
A great example of
679
00:36:22,722 --> 00:36:25,724
this is Chris Fisher
with many of his Jupiter
680
00:36:25,724 --> 00:36:28,643
Broadcasting shows
these being things like
681
00:36:28,643 --> 00:36:36,110
Linux Unplugged of Bitcoin, dad
of Linux action, news
682
00:36:36,110 --> 00:36:39,487
of Code of Radio,
all of these shows
683
00:36:39,487 --> 00:36:41,657
or almost all of them,
he has a sponsor,
684
00:36:41,657 --> 00:36:44,952
but he also does value for value.
At the same time,
685
00:36:44,952 --> 00:36:49,414
it 100% can work together.
What works most effectively
686
00:36:49,414 --> 00:36:52,418
is actually typically
when you go all in
687
00:36:52,418 --> 00:36:57,130
for value, for value
because you can emphasise the,
688
00:36:57,130 --> 00:37:00,675
the benefits of, of having an
exclusive of show
689
00:37:00,675 --> 00:37:03,512
which doesn't have.
And when I say exclusive,
690
00:37:03,512 --> 00:37:05,889
I mean I show you
which relies solely
691
00:37:05,889 --> 00:37:08,309
upon listener support
and you don't have
692
00:37:08,309 --> 00:37:12,646
any undue influences
from advertisers or sponsors.
693
00:37:12,646 --> 00:37:15,398
And this is where
you'll see things like the recent
694
00:37:15,398 --> 00:37:18,610
FTC's collapse,
where many people had
695
00:37:18,610 --> 00:37:21,822
sponsors of X on this show,
and even if they had
696
00:37:21,822 --> 00:37:24,699
any misgivings about the service,
of course
697
00:37:24,699 --> 00:37:26,452
they're not going to say
anything about it because they're
698
00:37:26,452 --> 00:37:29,789
receiving money from it.
We go on to value
699
00:37:29,789 --> 00:37:32,625
for value dot info,
which is a great website
700
00:37:32,625 --> 00:37:35,418
for learning a more
about the value for value model.
701
00:37:35,418 --> 00:37:38,838
In the section
labelled monetisation model,
702
00:37:38,838 --> 00:37:42,842
we can kind of see how it flips
the script as compared
703
00:37:42,842 --> 00:37:45,346
to those things I just mentioned.
Putting a paywall
704
00:37:45,346 --> 00:37:48,391
in front of your content
like Patron does of having
705
00:37:48,391 --> 00:37:52,686
a subscription where you can only
access the content if you pay
706
00:37:52,686 --> 00:37:55,690
a certain amount per month
like you can find
707
00:37:55,690 --> 00:37:58,358
in Apple subscriptions
of having advertising
708
00:37:58,358 --> 00:38:01,945
on your show where yes,
you're unlikely to say bad things
709
00:38:01,945 --> 00:38:06,117
about this sponsor
or the dynamically inserted ads
710
00:38:06,117 --> 00:38:10,579
which are just by and large awful
jumping into the
711
00:38:10,579 --> 00:38:13,206
middle of a show.
Just imagine a TV show,
712
00:38:13,206 --> 00:38:16,543
but without the cliff-hanger
at the end before the ad,
713
00:38:16,543 --> 00:38:18,753
it just jump
straight into something.
714
00:38:18,753 --> 00:38:21,590
A lot of it's awful
anyway, going on to
715
00:38:21,590 --> 00:38:25,344
the value for value.
So this is value the number four
716
00:38:25,344 --> 00:38:29,097
and then value dot info.
We can see here where
717
00:38:29,097 --> 00:38:31,266
we're trying to get at.
What's the difference
718
00:38:31,266 --> 00:38:34,061
between a payment
made through value for value
719
00:38:34,061 --> 00:38:36,813
and one which is made through
perhaps any of these
720
00:38:36,813 --> 00:38:40,818
other mediums. And so we go,
uh, let's get one thing
721
00:38:40,818 --> 00:38:42,445
out of the way.
Monetising non scarce
722
00:38:42,445 --> 00:38:45,155
information is difficult.
The default monetisation
723
00:38:45,155 --> 00:38:47,282
model of the online
world is advertisement
724
00:38:47,282 --> 00:38:49,284
a model that relies
heavily on surveillance
725
00:38:49,284 --> 00:38:53,121
and game able analytics
before the offers an alternative.
726
00:38:53,121 --> 00:38:55,123
Selling information
outright doesn't work.
727
00:38:55,123 --> 00:38:57,460
Selling bits
and bytes on a per item
728
00:38:57,460 --> 00:39:01,047
basis is nonsensical. Since
and bytes are non scarce,
729
00:39:01,047 --> 00:39:04,300
they can be replicated
ad infinitum. So this is
730
00:39:04,300 --> 00:39:06,969
why we see it's really related
to digital content
731
00:39:06,969 --> 00:39:10,306
and not something
like producing a mouse
732
00:39:10,306 --> 00:39:12,557
or a water bottle
or something like that.
733
00:39:12,557 --> 00:39:14,893
No, this is a
non scarce resource.
734
00:39:14,893 --> 00:39:19,273
Anyone can access it
for the marginal cost of 0.0,
735
00:39:19,273 --> 00:39:22,902
you know, whatever. I don't know.
A couple of watts of volts of
736
00:39:22,902 --> 00:39:26,197
electricity is the voice for
the model flips
737
00:39:26,197 --> 00:39:28,865
monetisation on its head.
It leads with abundance.
738
00:39:28,865 --> 00:39:31,534
Information is set free,
no artificial barriers
739
00:39:31,534 --> 00:39:33,746
or restrictions
are added to the content,
740
00:39:33,746 --> 00:39:37,375
whether it is audio, video, text
or something else. The value is
741
00:39:37,375 --> 00:39:39,126
given away freely
and those who find
742
00:39:39,126 --> 00:39:41,961
the information valuable
are asked to give back.
743
00:39:41,961 --> 00:39:44,465
The main difference between a
conventional transaction
744
00:39:44,465 --> 00:39:47,592
and a B for V transaction
is that a V for the transaction
745
00:39:47,592 --> 00:39:52,014
is voluntary unlimited and direct
V for the allows value
746
00:39:52,014 --> 00:39:54,641
and information to flow freely
without restrictions
747
00:39:54,641 --> 00:39:57,103
and without middlemen. It is a
different approach
748
00:39:57,103 --> 00:39:59,646
to monetising bits
and bytes online as well
749
00:39:59,646 --> 00:40:02,775
as a different approach
to creating content and value.
750
00:40:02,775 --> 00:40:04,985
People will give whatever
it is worth to them.
751
00:40:04,985 --> 00:40:06,987
Some might give the
equivalent of $1,
752
00:40:06,987 --> 00:40:10,574
some will give 50
and some will give 500 or more.
753
00:40:10,574 --> 00:40:12,701
So we can really see here.
Okay, the value for value
754
00:40:12,701 --> 00:40:16,956
model is is really
it's really about it's a it's
755
00:40:16,956 --> 00:40:18,998
a kind of a mindset.
It's almost a lifestyle.
756
00:40:18,998 --> 00:40:21,043
You do have to be
a lot more comfortable
757
00:40:21,043 --> 00:40:23,503
with not having
agreements in place
758
00:40:23,503 --> 00:40:27,132
between you and a sponsor
or having more certainty
759
00:40:27,132 --> 00:40:29,300
of how much revenue
you're going to be making
760
00:40:29,300 --> 00:40:33,304
per month with. And, you know,
I've got this many people
761
00:40:33,304 --> 00:40:36,099
subscribing to
to this level of support.
762
00:40:36,099 --> 00:40:38,226
Okay, I can roughly know
this now. It's it's
763
00:40:38,226 --> 00:40:42,148
much more based on
how how you provide value
764
00:40:42,148 --> 00:40:46,610
how how your listeners
receive that. And then also in
765
00:40:46,610 --> 00:40:49,447
the asking of value
and giving it back and forth.
766
00:40:49,447 --> 00:40:53,742
So we do have this
this kind of model. Okay.
767
00:40:53,742 --> 00:40:56,996
How does this link up with what
I was talking before and related
768
00:40:56,996 --> 00:40:59,414
to those for properties,
decentralisation,
769
00:40:59,414 --> 00:41:01,208
self-sovereign, anti
permissionless
770
00:41:01,208 --> 00:41:06,672
and value transfer? Well it does.
So we see decentralisation.
771
00:41:06,672 --> 00:41:09,257
I can talk about this for myself,
we are supported
772
00:41:09,257 --> 00:41:13,387
by multiple people, find out
who find us via multiple apps
773
00:41:13,387 --> 00:41:15,931
and are supported
in multiple ways. It is not
774
00:41:15,931 --> 00:41:18,224
strictly monetarily.
We have people
775
00:41:18,224 --> 00:41:21,353
who have contributed
some really great things.
776
00:41:21,353 --> 00:41:23,981
For example, a piece of software
which I use
777
00:41:23,981 --> 00:41:28,027
to help create my app.
The chapter mark is
778
00:41:28,027 --> 00:41:29,652
it was something
I couldn't do myself.
779
00:41:29,652 --> 00:41:33,699
I had to listen to Peter,
who very much sent in
780
00:41:33,699 --> 00:41:36,159
in particular. It wasn't
super, super
781
00:41:36,159 --> 00:41:38,954
complicated software,
it was an Excel sheet,
782
00:41:38,954 --> 00:41:41,164
but it had some things
in it, some formatting,
783
00:41:41,164 --> 00:41:44,168
which I didn't know how to do.
He managed to do that amazingly,
784
00:41:45,460 --> 00:41:47,880
so we can see that.
I guess the content
785
00:41:47,880 --> 00:41:50,340
is the source of truth
in this case. So it's,
786
00:41:50,340 --> 00:41:54,052
it's decentralised
to how people respond,
787
00:41:54,052 --> 00:41:56,764
how people give value back.
But the source of truth
788
00:41:56,764 --> 00:41:59,766
is always going to be me
and how I ask for that,
789
00:41:59,766 --> 00:42:02,978
how do I ask for
self sovereignty?
790
00:42:02,978 --> 00:42:06,065
I control the ask. I can say,
Hey, I really
791
00:42:06,065 --> 00:42:08,608
want you to support me
via this method.
792
00:42:08,608 --> 00:42:12,487
And that method could be
by attending a live event
793
00:42:12,487 --> 00:42:15,657
that perhaps I'm creating up.
It could be via one of the
794
00:42:15,657 --> 00:42:19,036
payment mechanisms
I really enjoy. It could be by
795
00:42:19,036 --> 00:42:23,373
sending in particular, you know,
pieces of content
796
00:42:23,373 --> 00:42:26,126
or digital photos or things
for an ad contest,
797
00:42:26,126 --> 00:42:29,463
which I want to display.
It could be by referring me on
798
00:42:29,463 --> 00:42:31,590
to certain guests, Hey,
I'm looking for a
799
00:42:31,590 --> 00:42:34,342
guest of this type. Does anyone
in my audience know this?
800
00:42:34,342 --> 00:42:37,554
So I control the ask.
I really get to decide
801
00:42:37,554 --> 00:42:40,516
what I ask for. And then you
as a listener, you get to decide
802
00:42:40,516 --> 00:42:43,686
what value you want
to provide back. There are
803
00:42:43,686 --> 00:42:47,063
plenty of things which you could
perhaps know, which I don't know,
804
00:42:47,063 --> 00:42:49,108
and you can say,
okay, here's some value
805
00:42:49,108 --> 00:42:52,027
in this format.
Or if we're talking
806
00:42:52,027 --> 00:42:56,322
about the monetary terms,
I'm going to give 5000 bucks.
807
00:42:56,322 --> 00:42:58,492
I really enjoy it. You know, I'm
a billionaire.
808
00:42:58,492 --> 00:43:01,161
I've really enjoyed this.
What I was listening to here,
809
00:43:01,161 --> 00:43:03,789
I've enjoyed this show for a fair
while. You know,
810
00:43:03,789 --> 00:43:06,791
that's nothing to them.
And that could mean
811
00:43:06,791 --> 00:43:09,753
the whole world to me.
So we can really see,
812
00:43:09,753 --> 00:43:12,880
okay, there's
there's very much this
813
00:43:12,880 --> 00:43:15,425
self sovereignty aspect,
both for myself
814
00:43:15,425 --> 00:43:18,512
and then also for the
for the listener at home.
815
00:43:18,512 --> 00:43:21,097
Permissionless.
There's no gatekeepers between me
816
00:43:21,097 --> 00:43:25,268
and my audience. Now, this is a
more difficult one to explain
817
00:43:25,268 --> 00:43:28,646
because it involves censorship
and this sort of soft and hard
818
00:43:28,646 --> 00:43:32,025
forms of this. The soft form
is more what I
819
00:43:32,025 --> 00:43:36,905
was describing before.
This is where I have a sponsor
820
00:43:36,905 --> 00:43:39,824
or someone who I'm trying
to keep copy, and they can
821
00:43:39,824 --> 00:43:43,954
they can kind of be like, well,
you know, this news that came out
822
00:43:43,954 --> 00:43:46,873
about us recently,
we don't really want you
823
00:43:46,873 --> 00:43:49,293
to talk about that.
That's it doesn't charge us
824
00:43:49,293 --> 00:43:52,588
in a favourable light. I'd prefer
you not talk about that.
825
00:43:52,588 --> 00:43:54,757
You know, as as me,
as the podcaster, and
826
00:43:54,757 --> 00:43:57,675
especially if I'm receiving money
from them, the obvious
827
00:43:57,675 --> 00:44:01,554
answer is yes. Okay, I won't.
I won't talk about that.
828
00:44:01,554 --> 00:44:05,559
We can also have
these more hard forms, which is,
829
00:44:05,559 --> 00:44:08,728
I suppose this is where it's
getting to you.
830
00:44:08,728 --> 00:44:11,731
Don't say about us.
You can have stipulations
831
00:44:11,731 --> 00:44:15,443
in the contract saying,
Nope, we're we're not
832
00:44:15,443 --> 00:44:19,239
going to allow you to
to talk about this certain topic.
833
00:44:19,239 --> 00:44:22,867
If you talk about it, you know,
contract gets terminated
834
00:44:22,867 --> 00:44:28,123
and another soft form
is, is kind of me feeling, oh,
835
00:44:28,123 --> 00:44:29,708
they're probably
not going to want me
836
00:44:29,708 --> 00:44:31,918
to talk about it. I'll maybe
just watch my words.
837
00:44:31,918 --> 00:44:35,005
In this case, I may be just
yeah, I'm
838
00:44:35,005 --> 00:44:37,800
I might not just say this
so we can really see this
839
00:44:37,800 --> 00:44:42,554
with the kind of gatekeepers.
They are the ones who.
840
00:44:42,887 --> 00:44:46,391
That there's no gatekeepers.
There's no middlemen between me.
841
00:44:46,391 --> 00:44:49,561
Like I was saying in here
before, the allows value
842
00:44:49,561 --> 00:44:51,521
in information
of free flow freely
843
00:44:51,521 --> 00:44:55,025
without restrictions
and without middlemen. So this
844
00:44:55,025 --> 00:44:57,402
this kind of aspect of middlemen
is a tricky one.
845
00:44:57,402 --> 00:44:59,487
And I'll be talking
a lot more about this
846
00:44:59,487 --> 00:45:02,407
in the in the value
tag when I get onto that.
847
00:45:03,909 --> 00:45:06,286
The last aspect here,
value transfer.
848
00:45:06,286 --> 00:45:09,914
So how does the V4,
the model, you know,
849
00:45:09,914 --> 00:45:13,293
have this property? Well, it's
called value for value
850
00:45:13,293 --> 00:45:16,463
and it's pretty
self-explanatory, but
851
00:45:16,463 --> 00:45:21,092
it recognises the importance
of subjective value. So this is
852
00:45:21,092 --> 00:45:24,054
really getting to the heart of K
value is not just money,
853
00:45:24,054 --> 00:45:27,766
money is great and all, it's
very useful, but there's
854
00:45:27,766 --> 00:45:31,686
a lot of things, in fact, mostly
everything in the world,
855
00:45:31,686 --> 00:45:34,440
which if you, if you're really
on your deathbed, you're looking
856
00:45:34,440 --> 00:45:36,483
at your life, you know,
money is not
857
00:45:36,483 --> 00:45:39,485
the thing that you go
that was the most valuable thing.
858
00:45:39,485 --> 00:45:43,282
No, it was interactions
with friends. It was leading a
859
00:45:43,282 --> 00:45:46,659
an ethical, moral life.
It was deciding
860
00:45:46,659 --> 00:45:48,911
to do certain things or not to do
certain things.
861
00:45:48,911 --> 00:45:52,166
It was travelling.
It was, you know, making love
862
00:45:52,166 --> 00:45:53,833
a beautiful woman
or a beautiful man.
863
00:45:53,833 --> 00:45:56,795
It was deciding
is all these factors
864
00:45:56,795 --> 00:45:59,797
which are just so much
more important than money.
865
00:45:59,797 --> 00:46:02,050
And the great thing about value
for value model
866
00:46:02,050 --> 00:46:05,344
is it recognises this.
You can go, okay, beautiful.
867
00:46:05,344 --> 00:46:08,849
The there's things which are more
important than money,
868
00:46:08,849 --> 00:46:12,643
money, money, money. And
I suppose if we want to get
869
00:46:12,643 --> 00:46:15,313
onto it, if we're going to
look at it in the monetisation
870
00:46:15,313 --> 00:46:18,942
model, yes, it is very
much important. It is helpful
871
00:46:18,942 --> 00:46:21,152
to, to have money
so you can do it
872
00:46:21,152 --> 00:46:23,280
through this metal,
through this model,
873
00:46:23,280 --> 00:46:25,865
and you can do it through
the cheapest,
874
00:46:25,865 --> 00:46:28,911
quickest, most efficient
and best money we have today,
875
00:46:28,911 --> 00:46:31,663
which is Bitcoin.
And so this is kind of getting on
876
00:46:31,663 --> 00:46:33,791
to the Bitcoin
properties as well.
877
00:46:33,791 --> 00:46:39,045
How does Bitcoin relate to these
these four aspects? And this is
878
00:46:39,045 --> 00:46:41,172
this is really where
I started off this was actually
879
00:46:41,172 --> 00:46:43,090
my starting point
when I was coming up
880
00:46:43,090 --> 00:46:47,054
with these four four ideas
and then I just saw, okay, yeah,
881
00:46:47,054 --> 00:46:50,306
these actually relate to podcast
and 2.0 on value for value.
882
00:46:50,306 --> 00:46:53,976
So decentralisation.
Well, there's one sort of truth,
883
00:46:53,976 --> 00:46:57,188
this being the ledger,
and this is supported
884
00:46:57,188 --> 00:46:59,942
by a network of,
of nodes and miners.
885
00:46:59,942 --> 00:47:02,860
And so once again
it's, it's people.
886
00:47:02,860 --> 00:47:06,114
One of the things I think that
decentralisation is hard
887
00:47:06,114 --> 00:47:10,661
to envision is, is that
a lot of there is always
888
00:47:10,661 --> 00:47:14,373
a kind of one source
of truth in aspect, which is
889
00:47:14,373 --> 00:47:16,750
this is the one thing
which which everyone
890
00:47:16,750 --> 00:47:21,213
kind of agrees upon,
whether this be in an open source
891
00:47:21,213 --> 00:47:26,260
project about, you know, let's
just take podcasting 2.0.
892
00:47:26,260 --> 00:47:29,679
The namespace, the namespaces is
the, is the kind of one
893
00:47:29,679 --> 00:47:31,849
source of truth
and this is hasn't GitHub
894
00:47:31,849 --> 00:47:36,686
attached to it.
Now with with Bitcoin for example
895
00:47:36,686 --> 00:47:39,940
the the strong thing is being me
as a as a pleb
896
00:47:39,940 --> 00:47:44,527
as someone who just has,
you know like no idea about how
897
00:47:44,527 --> 00:47:47,780
I would be able to access
the Australian financial system
898
00:47:47,780 --> 00:47:51,659
without a bank and in this case
I can actually go
899
00:47:51,659 --> 00:47:54,996
see the Bitcoin network,
I can go see the code
900
00:47:54,996 --> 00:47:57,541
and I can go check and verify
every transaction
901
00:47:57,541 --> 00:48:00,460
that has ever been done.
There is this which has
902
00:48:00,460 --> 00:48:03,045
everything on there.
If I was trying to do
903
00:48:03,045 --> 00:48:06,132
that in a monetary form
here in Australia, for example,
904
00:48:06,132 --> 00:48:08,217
I wouldn't be able to see
I have no idea how much
905
00:48:08,217 --> 00:48:11,054
Australian dollars
there are in circulation
906
00:48:11,054 --> 00:48:14,016
or how much there is on the
the kind of like
907
00:48:14,016 --> 00:48:17,978
balance of the government or in
the Reserve Bank of Australia.
908
00:48:17,978 --> 00:48:21,315
No, I kind of get
a little feel for it
909
00:48:21,315 --> 00:48:24,400
by going through one of the banks
that we have here,
910
00:48:24,400 --> 00:48:28,780
Commonwealth Bank,
Suncorp, I g nab,
911
00:48:28,780 --> 00:48:31,490
whatever you choose,
but once again I'm very much
912
00:48:31,490 --> 00:48:34,494
restricted in this, so
Bitcoin is definitely
913
00:48:34,494 --> 00:48:38,831
decentralised. Self-Sovereign I'm
entirely responsible for my coins
914
00:48:38,831 --> 00:48:41,710
unless I choose a
custodial service. So once again
915
00:48:41,710 --> 00:48:44,463
it has this aspect of
being able to, to
916
00:48:44,463 --> 00:48:48,634
do everything yourself.
But if you choose to, to offload
917
00:48:48,634 --> 00:48:51,344
some of that responsibility
to another party
918
00:48:51,344 --> 00:48:54,556
which you can trust,
or which I hope you trust
919
00:48:54,556 --> 00:48:57,934
and you get to make that choice,
you at least have the choice
920
00:48:57,934 --> 00:49:02,271
to be self-sovereign.
And in this case you would have a
921
00:49:02,271 --> 00:49:05,650
a wallet of some sort,
which you controlled
922
00:49:05,650 --> 00:49:09,947
and created via your phone,
by your via
923
00:49:09,947 --> 00:49:12,907
something that is known
as a hardware wallet.
924
00:49:12,907 --> 00:49:17,286
And you can own kind of the coins
or the access
925
00:49:17,286 --> 00:49:20,498
to these coins yourself.
All you need to do is remember
926
00:49:20,498 --> 00:49:24,878
12 words and list.
So you're ready. You're you're,
927
00:49:24,878 --> 00:49:28,547
you're completely sovereign over
as little or as much wealth
928
00:49:28,547 --> 00:49:30,467
as you are comfortable
in doing in that sense.
929
00:49:30,467 --> 00:49:33,094
So once again, you kind of
earn the money
930
00:49:33,094 --> 00:49:37,014
and you have a lot more
knowledge about the
931
00:49:37,014 --> 00:49:39,726
what the properties
of this money, i.e.
932
00:49:39,726 --> 00:49:41,353
in Bitcoin's case,
there's only going
933
00:49:41,353 --> 00:49:44,606
to be 21 million of it.
It's only going to inflate
934
00:49:44,606 --> 00:49:47,900
at this certain rate
where you can see year on year
935
00:49:47,900 --> 00:49:52,364
it's actually the inflation
is deflationary. Let's get
936
00:49:52,364 --> 00:49:55,117
into permissionless.
The ease of access means
937
00:49:55,117 --> 00:49:58,202
that no central identity entity
can stop me
938
00:49:58,202 --> 00:50:01,789
or getting or using coins
however I see fit.
939
00:50:01,789 --> 00:50:04,333
So in the case of
of getting coins,
940
00:50:04,333 --> 00:50:07,670
we can say, okay, well,
I can earn them much like I'm
941
00:50:07,670 --> 00:50:11,632
doing through my podcast
right now. I can mine them
942
00:50:11,632 --> 00:50:14,719
through a miner,
I can buy them from a
943
00:50:14,719 --> 00:50:17,054
centralised exchange,
I can get them from
944
00:50:17,054 --> 00:50:20,016
a decentralised exchange,
I can get them
945
00:50:20,016 --> 00:50:23,311
from a family member who wants to
send it to me. I can get it
946
00:50:23,311 --> 00:50:25,813
by working for it.
There's a whole myriad
947
00:50:25,813 --> 00:50:29,650
of options of of getting access
to these coins. And once again,
948
00:50:29,650 --> 00:50:32,903
all you need is a
wallet of some sort
949
00:50:32,903 --> 00:50:37,284
and internet access.
What about using the coins? Well,
950
00:50:37,284 --> 00:50:39,702
in this case I can do
whatever I want with them,
951
00:50:39,702 --> 00:50:42,789
I can send them to my friend,
I can send them overseas.
952
00:50:42,789 --> 00:50:47,376
I don't need to go through a bank
to be able to do this. I can just
953
00:50:47,376 --> 00:50:49,963
create a transaction myself
and send it off.
954
00:50:49,963 --> 00:50:52,673
And you have a lot
more functionality of of what
955
00:50:52,673 --> 00:50:55,052
you can do with it. It is
truly permissionless.
956
00:50:55,052 --> 00:50:59,722
There is no one who can
really restrict what I do with it
957
00:50:59,722 --> 00:51:02,684
without, you know,
putting a gun at my head
958
00:51:02,684 --> 00:51:06,353
and saying, you know,
do this, otherwise bad things
959
00:51:06,353 --> 00:51:08,981
will happen to you.
So we can see, okay,
960
00:51:08,981 --> 00:51:13,527
in this case, bitcoin definitely
is permissionless value transfer.
961
00:51:13,527 --> 00:51:16,114
This is the classic thing
related to money.
962
00:51:16,114 --> 00:51:19,034
What is money all about?
Well, it's basically to
963
00:51:19,034 --> 00:51:22,913
transfer value from one place
to another. Now, money has
964
00:51:22,913 --> 00:51:26,666
three different properties
which are essential to it.
965
00:51:26,666 --> 00:51:29,293
These being
as a medium of exchange.
966
00:51:29,293 --> 00:51:32,963
So you can kind of see this
with currencies of being able to
967
00:51:32,963 --> 00:51:37,177
interchange between
different things of tokens.
968
00:51:37,177 --> 00:51:40,554
So you can see this
as in like a face
969
00:51:40,554 --> 00:51:43,182
or a playground park
or maybe in Disney World.
970
00:51:43,182 --> 00:51:45,518
I don't know. I've never
been there myself where
971
00:51:45,518 --> 00:51:49,063
there are tokens that you can use
as, as payment within it.
972
00:51:49,063 --> 00:51:52,233
Oh, I've got this many tickets.
I with this many tickets
973
00:51:52,233 --> 00:51:57,030
I can buy a lolly or a paper
aeroplane or something like that.
974
00:51:57,030 --> 00:52:02,077
We have the store of value
so something like fish
975
00:52:02,077 --> 00:52:04,663
for example, rots,
that's not useful
976
00:52:04,663 --> 00:52:08,250
as a store of value,
something like paper money,
977
00:52:08,250 --> 00:52:12,295
you know, that's pretty durable.
It doesn't doesn't degrade
978
00:52:12,295 --> 00:52:16,423
over time. Well, over a long time
it does. But that that one's
979
00:52:16,423 --> 00:52:20,887
pretty good gold Another example,
really, really good at not
980
00:52:20,887 --> 00:52:24,099
being kind of breakable
or you have to really, you know,
981
00:52:24,099 --> 00:52:28,686
melt it, add different things
if you want to if you want to
982
00:52:28,686 --> 00:52:31,648
change its composition
and whatnot,
983
00:52:31,648 --> 00:52:34,483
Sure, you can scrape off
a couple of gold items
984
00:52:34,483 --> 00:52:35,985
every time you
you struck your gold
985
00:52:35,985 --> 00:52:38,195
bar lovingly.
But as a store of value,
986
00:52:38,195 --> 00:52:41,949
it's worked very well over
the over time. Bitcoin is very
987
00:52:41,949 --> 00:52:45,244
much like this. It is going to be
a store of value.
988
00:52:45,244 --> 00:52:48,623
You keep your money
in there and over time
989
00:52:48,623 --> 00:52:53,503
it will appreciate. The last one.
Here is a unit of account.
990
00:52:53,503 --> 00:52:56,213
So this is being able
to price things and this is being
991
00:52:56,213 --> 00:53:01,260
able to say, okay, a house is
let's just say
992
00:53:01,260 --> 00:53:05,056
ten bitcoin at the moment
that's roughly 400,000 Australian
993
00:53:06,266 --> 00:53:11,061
and I can have something like
a chair within this house
994
00:53:11,061 --> 00:53:14,398
or a backboard
or a painting or poster
995
00:53:14,398 --> 00:53:17,568
or something like that.
I can still price that,
996
00:53:17,568 --> 00:53:20,237
that painting or poster,
but it's going to be
997
00:53:20,237 --> 00:53:22,282
in the same unit.
I don't need to use
998
00:53:22,282 --> 00:53:26,411
fish to, to price that.
I can also use Bitcoin,
999
00:53:26,411 --> 00:53:29,121
but it's going to be obviously
a much smaller amount.
1000
00:53:29,121 --> 00:53:32,250
In the case of my poster
behind me, it might be
1001
00:53:32,250 --> 00:53:38,172
0.004 bitcoin, which is a
much less amount
1002
00:53:38,172 --> 00:53:44,471
than the or ten bitcoin than than
I used to to value a house.
1003
00:53:44,471 --> 00:53:47,014
So we can very much see,
okay, Bitcoin satisfies
1004
00:53:47,014 --> 00:53:49,851
these, these properties
and much more things
1005
00:53:49,851 --> 00:53:52,186
like being fungible,
being divisible,
1006
00:53:52,186 --> 00:53:54,563
durable, portable,
counterfeit resistant
1007
00:53:54,563 --> 00:53:56,565
and it's got,
you know, really good
1008
00:53:56,565 --> 00:54:01,070
properties as far as money.
So this is going to get us all
1009
00:54:01,070 --> 00:54:03,907
onto the value tag.
So this is combining
1010
00:54:03,907 --> 00:54:08,036
value for value podcasting
2.0 and Bitcoin.
1011
00:54:08,036 --> 00:54:11,831
So the value tag, what is it
and how does it work with s?
1012
00:54:11,831 --> 00:54:14,501
So I'm going to go here
to the GitHub
1013
00:54:14,501 --> 00:54:17,170
for the podcast index.
So this is for the
1014
00:54:17,170 --> 00:54:19,547
podcast namespace
and this is where it's
1015
00:54:19,547 --> 00:54:21,465
starting to describe
what is the purpose
1016
00:54:21,465 --> 00:54:23,550
of the value tag?
How do you use it?
1017
00:54:23,550 --> 00:54:26,637
So the value tag
is a way to receive
1018
00:54:26,637 --> 00:54:30,516
direct payments for podcast
is to receive direct payments
1019
00:54:30,516 --> 00:54:33,228
from that audience in response
to the action of viewing
1020
00:54:33,228 --> 00:54:36,438
or listening to a created work
utilising so called Layer
1021
00:54:36,438 --> 00:54:39,108
two cryptocurrency
networks like Lightning
1022
00:54:39,108 --> 00:54:41,027
and possibly
other digital currency
1023
00:54:41,027 --> 00:54:43,780
mechanisms near real time
micro payments
1024
00:54:43,780 --> 00:54:45,572
can be directly sent
from listener
1025
00:54:45,572 --> 00:54:47,951
or viewer to the creator
without the need
1026
00:54:47,951 --> 00:54:51,246
for a payment process
or other middlemen. Once again,
1027
00:54:51,246 --> 00:54:56,083
this is getting back into the
the the whitepaper Bitcoin.
1028
00:54:56,083 --> 00:54:59,211
A purely peer to peer version
of Electrum electronic cash
1029
00:54:59,211 --> 00:55:01,630
would allow online payments
to be sent directly
1030
00:55:01,630 --> 00:55:03,842
from one party to another
without going through
1031
00:55:03,842 --> 00:55:06,552
a financial institution.
We have done it.
1032
00:55:06,552 --> 00:55:10,431
It is happening here
with with the value tag.
1033
00:55:10,431 --> 00:55:13,559
So basically what what
this is, it's you have
1034
00:55:13,559 --> 00:55:15,853
a lightning address,
you have some sort of address
1035
00:55:15,853 --> 00:55:17,521
and wallet
that I was talking about
1036
00:55:17,521 --> 00:55:20,400
just before you put this
in your source of truth,
1037
00:55:20,400 --> 00:55:24,112
the RSS feed, and then people
who are ingesting this
1038
00:55:24,112 --> 00:55:27,032
and this being the podcast apps,
they can have
1039
00:55:27,032 --> 00:55:29,451
a way of saying, okay,
if you want to support
1040
00:55:29,451 --> 00:55:34,204
this creator, you can there
choose a way to do it.
1041
00:55:34,204 --> 00:55:36,248
And there's a couple
of different ways of doing this,
1042
00:55:36,248 --> 00:55:40,085
which I'll get on to soon.
And this is how you can
1043
00:55:40,085 --> 00:55:43,172
directly send money
in, in this case
1044
00:55:43,172 --> 00:55:47,177
in the form of Bitcoin directly
from yourself to them.
1045
00:55:47,177 --> 00:55:49,846
If you are a American,
let's not and you're
1046
00:55:49,846 --> 00:55:54,059
listening to an Iranian.
Tell me a way of you being
1047
00:55:54,059 --> 00:55:59,856
able to get money to them.
I for example, for a podcast
1048
00:55:59,856 --> 00:56:02,775
that I would like
to support in the
1049
00:56:02,775 --> 00:56:05,987
in the United Kingdom,
I wanted to buy
1050
00:56:05,987 --> 00:56:09,199
one of their shirts,
sending money to them directly
1051
00:56:09,199 --> 00:56:12,284
from my bank account
to their bank account was awful.
1052
00:56:12,284 --> 00:56:14,286
And that is between
two countries which are,
1053
00:56:14,286 --> 00:56:18,123
you know, I'm their brethren.
We the convict
1054
00:56:18,123 --> 00:56:20,585
descended from them.
So there is very much
1055
00:56:20,585 --> 00:56:23,295
this aspect of, okay, this is
this is actually having
1056
00:56:23,295 --> 00:56:26,715
some real utility.
This is amazing. Now, one of
1057
00:56:26,715 --> 00:56:28,842
the most powerful
parts of the value
1058
00:56:28,842 --> 00:56:36,101
tag is the splits. And so
this is the ability to create
1059
00:56:36,141 --> 00:56:40,063
not just one payment
where it can go to you can say,
1060
00:56:40,063 --> 00:56:42,398
okay, if you're going to
pay something to me
1061
00:56:42,398 --> 00:56:46,152
or to this podcast,
it can go 50% here
1062
00:56:46,152 --> 00:56:48,570
and it can go 50%
to another person.
1063
00:56:48,570 --> 00:56:51,699
So, for example, for myself
and for one,
1064
00:56:51,699 --> 00:56:55,994
we could do it as 5050.
But no, we do it in other ways
1065
00:56:55,994 --> 00:57:01,000
as well by incentivising
the podcast apps and helping
1066
00:57:01,000 --> 00:57:04,838
to support them. So actually,
for every Satoshi, for every
1067
00:57:04,838 --> 00:57:06,922
portion of Bitcoin
that you send to us
1068
00:57:06,922 --> 00:57:11,302
directly within the apps,
10% will go out to six
1069
00:57:11,302 --> 00:57:14,472
different developers,
30% will go to myself,
1070
00:57:14,472 --> 00:57:17,891
30% will go to one and 30%
into a joint fund
1071
00:57:17,891 --> 00:57:21,396
that we use to help
improve the show by buying
1072
00:57:21,396 --> 00:57:26,233
more equipment, by broadcasting
this to to more people, to
1073
00:57:27,443 --> 00:57:30,362
kind of like a fund which we use
for development of the show.
1074
00:57:30,362 --> 00:57:33,157
And this is probably
the most powerful thing
1075
00:57:33,157 --> 00:57:37,996
about this,
because what it can do is it it's
1076
00:57:37,996 --> 00:57:40,498
a way of incentivising
everyone in the system.
1077
00:57:40,498 --> 00:57:44,293
Everyone gets a piece of the pie.
So podcasters obviously
1078
00:57:44,293 --> 00:57:46,253
app developers.
So this is the people
1079
00:57:46,253 --> 00:57:49,757
who are creating the apps
where you listen to. They provide
1080
00:57:49,757 --> 00:57:52,385
a valuable service,
but they get jack shit
1081
00:57:52,385 --> 00:57:56,139
because there is just no real
payment method for them
1082
00:57:56,139 --> 00:57:59,184
to be involved in the
in the moving of money
1083
00:57:59,184 --> 00:58:02,769
back and forth hosts.
If they want to get in on this,
1084
00:58:02,769 --> 00:58:06,733
they can do that by saying, okay,
if you want to put value
1085
00:58:06,733 --> 00:58:10,695
into your A a lightning address
into your feed, that's awesome.
1086
00:58:10,695 --> 00:58:13,655
We just offset
we'll take 2% or 5%
1087
00:58:13,655 --> 00:58:17,367
of that, something like that.
The podcast index, they have
1088
00:58:17,367 --> 00:58:21,914
a standard 1%, which goes to them
for helping to create all of this
1089
00:58:21,914 --> 00:58:24,416
to maintaining a database
which these podcasting
1090
00:58:24,416 --> 00:58:26,585
apps can use.
You can even do this
1091
00:58:26,585 --> 00:58:30,923
for services for stats.
One is called Contacts
1092
00:58:30,923 --> 00:58:35,594
where you can get
stats which get in 10%,
1093
00:58:35,594 --> 00:58:40,141
actually four from us
goes to a place called Satoshis
1094
00:58:40,141 --> 00:58:43,186
dot stream, which gives us
some amazing stats
1095
00:58:43,186 --> 00:58:47,231
and allows us to say, okay,
this person sent in a message
1096
00:58:47,231 --> 00:58:49,150
and we can get it
going to our telegram
1097
00:58:49,150 --> 00:58:54,072
and to our discord and adds in
so many features. Sure. Amazing.
1098
00:58:54,072 --> 00:58:57,492
A service which I willingly
and gladly pay for.
1099
00:58:57,492 --> 00:59:00,536
There are things like
if you want to add collaborators
1100
00:59:00,536 --> 00:59:04,456
and every time that I
get a guest on the show,
1101
00:59:04,456 --> 00:59:07,960
I offer them the 30% that would
normally go to Juan.
1102
00:59:07,960 --> 00:59:11,255
I offered them that 30%,
and they can choose
1103
00:59:11,255 --> 00:59:15,217
to take that up if they want to.
I could also
1104
00:59:15,217 --> 00:59:18,762
do things like charities
if I wanted to, if I had a show
1105
00:59:18,762 --> 00:59:21,599
related to the
World Wildlife Fund
1106
00:59:21,599 --> 00:59:25,061
or something like that,
and it was a podcast directly
1107
00:59:25,061 --> 00:59:28,356
from that organisation,
they could have that as their
1108
00:59:28,356 --> 00:59:31,900
their kind of charity feed.
And so for every Satoshi,
1109
00:59:31,900 --> 00:59:35,405
every dollar that came in,
every portion of Bitcoin,
1110
00:59:35,405 --> 00:59:38,407
every monetary value,
let's just put it that way,
1111
00:59:38,407 --> 00:59:42,911
that could go directly to
their charity. There's so many
1112
00:59:42,911 --> 00:59:44,079
different things
you can do with that.
1113
00:59:44,079 --> 00:59:46,873
The splits is amazing.
It really just
1114
00:59:46,873 --> 00:59:48,876
alliance incentives.
You can even send it
1115
00:59:48,876 --> 00:59:50,836
back to the listeners
if you want.
1116
00:59:50,836 --> 00:59:54,047
So you've got someone
who is providing a lot of value,
1117
00:59:54,047 --> 00:59:57,885
but it is in a
in the form of artwork.
1118
00:59:57,885 --> 01:00:01,472
You can put in
5%, 10%, 20% for them,
1119
01:00:01,472 --> 01:00:03,891
whatever you want,
and that can go directly
1120
01:00:03,891 --> 01:00:07,728
from one listener to listener
who is actually helping
1121
01:00:07,728 --> 01:00:10,898
to support the show,
just not in a monetary form.
1122
01:00:10,898 --> 01:00:16,153
It opens up so many avenues of
of being able to incentive
1123
01:00:16,153 --> 01:00:19,657
wise people to do things to
just everyone is kind of
1124
01:00:19,657 --> 01:00:22,452
on the same board and everyone's
getting a piece of the pie
1125
01:00:22,452 --> 01:00:26,914
and it's really cutting out
these middlemen who in many cases
1126
01:00:26,914 --> 01:00:29,458
are non-productive
and who are solely there
1127
01:00:29,458 --> 01:00:31,918
to provide trust,
which I would say
1128
01:00:31,918 --> 01:00:34,463
is kind of the best case.
And in this case
1129
01:00:34,463 --> 01:00:36,715
I'm talking about
things like PayPal,
1130
01:00:36,715 --> 01:00:40,927
which are solely there
to facilitate and provide trust
1131
01:00:40,927 --> 01:00:42,847
that this goes
from here to there.
1132
01:00:42,847 --> 01:00:44,806
And in the worst case,
they are there
1133
01:00:44,806 --> 01:00:49,394
to restrict and control
whatever is that you're doing,
1134
01:00:49,394 --> 01:00:52,690
whilst also charging you for the
privilege of doing that.
1135
01:00:53,815 --> 01:00:55,610
For those of you
who haven't investigated
1136
01:00:55,610 --> 01:00:59,822
the music industry,
might just be worth
1137
01:00:59,822 --> 01:01:03,326
having a quick
check out of how much
1138
01:01:03,326 --> 01:01:07,454
a individual musician gets from
their royalties.
1139
01:01:07,454 --> 01:01:11,083
It's like 10 to 20% if that.
And so all the rest of
1140
01:01:11,083 --> 01:01:16,172
that money is going to the record
companies is going to distribute
1141
01:01:16,172 --> 01:01:19,425
is to providers.
And a lot of this is work
1142
01:01:19,425 --> 01:01:23,096
which is kind of
just been stagnated,
1143
01:01:23,096 --> 01:01:25,056
which is just like
this is the way it is
1144
01:01:25,056 --> 01:01:27,349
where where the big boys,
if you want to record,
1145
01:01:27,349 --> 01:01:29,936
if you want to put
your music out, this is how
1146
01:01:29,936 --> 01:01:32,813
you have to do it. Once again,
with value for value,
1147
01:01:32,813 --> 01:01:35,108
this can change that, but I'm
getting a little
1148
01:01:35,108 --> 01:01:36,943
bit ahead of myself
that that comes in the
1149
01:01:36,943 --> 01:01:42,072
in the near future. So how
how is this actually facilitated?
1150
01:01:42,072 --> 01:01:44,117
What is the value tag
and what's some
1151
01:01:44,117 --> 01:01:47,829
some real examples of this? Well,
one of this is streaming stats.
1152
01:01:47,829 --> 01:01:51,916
So basically
I can whip up a an app
1153
01:01:51,916 --> 01:01:55,670
one like let's just choose
Costa matic, for example.
1154
01:01:55,670 --> 01:02:01,717
And I can choose for every minute
on the minute I want 21 Satoshis
1155
01:02:01,717 --> 01:02:05,596
or 100 satoshis to go. Let's use
an easy example, 100 Satoshis
1156
01:02:05,596 --> 01:02:09,726
to go to my to the podcast.
So that means every minute
1157
01:02:09,726 --> 01:02:13,938
that I'm listening, it will,
it will go through to them.
1158
01:02:13,938 --> 01:02:17,775
Now, it won't necessarily be sent
every minute on the minute
1159
01:02:17,775 --> 01:02:21,195
because sometimes these apps
like to do batching and so
1160
01:02:21,195 --> 01:02:24,407
they might wait for 10 minutes
and then send in 10 minutes
1161
01:02:24,407 --> 01:02:27,409
worth of you listening.
But you know, if you finish
1162
01:02:27,409 --> 01:02:31,496
listening at 12 minutes,
they will then go, okay,
1163
01:02:31,496 --> 01:02:33,916
I will send that extra
2 minutes and bam,
1164
01:02:33,916 --> 01:02:37,961
that goes to the podcast.
Listen, the podcast host
1165
01:02:37,961 --> 01:02:40,130
or to whoever
they have in this play
1166
01:02:40,130 --> 01:02:43,509
in the in the feed.
So if you do 100 sets per minute,
1167
01:02:43,509 --> 01:02:48,054
that means every minute 100 sets
will get distributed
1168
01:02:48,054 --> 01:02:50,182
to the various splits
that you have set up.
1169
01:02:50,182 --> 01:02:53,643
So once again, for me
that would be 30% to one,
1170
01:02:53,643 --> 01:02:57,190
30% to myself, 30% to our
individual fund.
1171
01:02:57,190 --> 01:03:00,610
And then of those six developers,
which I have in the in the
1172
01:03:00,610 --> 01:03:04,362
in the feeds, but that
1% will go to this guy,
1173
01:03:04,362 --> 01:03:06,824
one person here,
1% here, and 4% pay
1174
01:03:06,824 --> 01:03:10,036
something like that.
So we can really see, okay,
1175
01:03:10,036 --> 01:03:13,664
this is really getting
into the aspect of micropayments.
1176
01:03:13,664 --> 01:03:16,041
And unlike subscriptions
or paywalls,
1177
01:03:16,041 --> 01:03:19,670
you are only paying for
what you actually use. And so
1178
01:03:19,670 --> 01:03:23,632
this is kind of known
as play to pay. And so once again
1179
01:03:23,632 --> 01:03:28,094
on the podcast index
namespace GitHub
1180
01:03:28,094 --> 01:03:31,389
and for the value tag here,
this system can be
1181
01:03:31,389 --> 01:03:34,893
thought of as play to pay rather
than the traditional pay
1182
01:03:34,893 --> 01:03:37,896
to play paywall approach.
When a media listener
1183
01:03:37,896 --> 01:03:40,733
such as within a podcast
app presses a play button
1184
01:03:40,733 --> 01:03:44,653
on an episode whose feed contains
a value block, a compatible app
1185
01:03:44,653 --> 01:03:47,614
will be expected to begin
streaming micropayments to the
1186
01:03:47,614 --> 01:03:50,409
designated recipients
on a time interval
1187
01:03:50,409 --> 01:03:53,119
that makes sense for the app.
The amount of each payment
1188
01:03:53,119 --> 01:03:55,831
can be any amount
the listener chooses,
1189
01:03:55,831 --> 01:03:57,791
including zero.
If the listener chooses
1190
01:03:57,791 --> 01:03:59,960
not to pay to listen
to this media,
1191
01:03:59,960 --> 01:04:03,713
then the app can ignore the value
block of that feed.
1192
01:04:03,713 --> 01:04:07,260
So we can really see, okay,
once again, this is enabling
1193
01:04:07,260 --> 01:04:10,679
so many cool things.
It's enabling a listener
1194
01:04:10,679 --> 01:04:13,682
to value their podcast
at whatever amount they want.
1195
01:04:13,682 --> 01:04:16,811
It enables the app to
perhaps take a portion
1196
01:04:16,811 --> 01:04:22,983
of this as well. It enables
you as the listener to know,
1197
01:04:22,983 --> 01:04:27,280
okay, I'm really
deciding on how much value I'm
1198
01:04:27,280 --> 01:04:29,072
getting for this. I'm not
getting overcharged.
1199
01:04:29,072 --> 01:04:31,242
I get to choose as soon as I stop
listening,
1200
01:04:31,242 --> 01:04:34,871
as soon as I stop paying. And so
the cool thing about this
1201
01:04:34,871 --> 01:04:37,748
is it's really passive.
It really requires
1202
01:04:37,748 --> 01:04:41,918
no active decision making
to be made. And whilst
1203
01:04:41,918 --> 01:04:45,130
also giving flexibility
in determining the amount.
1204
01:04:45,130 --> 01:04:48,009
So as the listener
once again can choose,
1205
01:04:48,009 --> 01:04:52,054
you know what, I want to
really support this amount
1206
01:04:52,054 --> 01:04:54,514
to this particular creator.
I think they're worth
1207
01:04:54,514 --> 01:04:58,436
100 stats per minute. This one,
which I don't value as much.
1208
01:04:58,436 --> 01:05:00,938
It's not my favourite show,
but it's still okay.
1209
01:05:00,938 --> 01:05:03,815
I'm going to send them
ten sites per minute
1210
01:05:03,815 --> 01:05:06,318
and you can really see
just having this ability
1211
01:05:06,318 --> 01:05:09,989
to kind of do a set and forget
way of supporting
1212
01:05:09,989 --> 01:05:13,659
your favourite creator
is just a game changer.
1213
01:05:13,659 --> 01:05:17,579
It's really, really amazing and
when it catches on, you're
1214
01:05:17,579 --> 01:05:20,625
really going to be able to do
some more cool things, such
1215
01:05:20,625 --> 01:05:24,128
as seeing in your stats,
what do listeners actually prefer
1216
01:05:24,128 --> 01:05:27,547
listening to? When do they stop
dropping off? And Oh, I can.
1217
01:05:27,547 --> 01:05:32,637
Okay, they only made it halfway
through this show. Oh, maybe I'm
1218
01:05:32,637 --> 01:05:34,764
doing something weird there
and you can kind of
1219
01:05:34,764 --> 01:05:37,724
see this with the value.
You can kind of see this
1220
01:05:37,724 --> 01:05:40,393
and things like YouTube
with podcasting,
1221
01:05:40,393 --> 01:05:42,396
you can't see this at all
because the
1222
01:05:42,396 --> 01:05:45,440
the analytics mechanisms
of all of the open
1223
01:05:45,440 --> 01:05:49,027
source podcasting doesn't really
allow for this. It's it's
1224
01:05:49,027 --> 01:05:53,032
not what I could
how could I say this
1225
01:05:53,032 --> 01:05:55,742
surveilled enough? There's
there's enough privacy.
1226
01:05:55,742 --> 01:05:58,746
What was the last night?
That sort of information
1227
01:05:58,746 --> 01:06:00,706
doesn't go through
all the way to the host
1228
01:06:00,706 --> 01:06:04,168
and to the podcast
podcasting themselves.
1229
01:06:04,168 --> 01:06:06,461
But if people are voluntarily
sending your money,
1230
01:06:06,461 --> 01:06:09,005
you can see this.
It's really, really cool.
1231
01:06:09,005 --> 01:06:11,675
Another way of doing
this is via boosts
1232
01:06:11,675 --> 01:06:14,260
and boost to grams. So this is
the nomenclature,
1233
01:06:14,260 --> 01:06:16,137
this is the naming
of these things.
1234
01:06:16,137 --> 01:06:18,349
So these are individual
one off payments
1235
01:06:18,349 --> 01:06:22,186
that are typically larger
and usually occur due
1236
01:06:22,186 --> 01:06:26,190
due to a call to action
or maybe a highlight that isn't
1237
01:06:26,190 --> 01:06:28,900
within the episode.
So a call to action
1238
01:06:28,900 --> 01:06:31,445
is one for you, right now.
If you're really enjoying
1239
01:06:31,445 --> 01:06:34,072
everything that's been happening,
hit the send me a boost,
1240
01:06:34,072 --> 01:06:37,576
Send me through now.
I used an example of
1241
01:06:37,576 --> 01:06:39,786
a bitcoin before.
Send me through a bitcoin
1242
01:06:39,786 --> 01:06:42,206
now. Okay. Obviously most people
aren't going to be sending
1243
01:06:42,206 --> 01:06:46,335
through 38,000 or 40,000
or whatever it is at the moment,
1244
01:06:46,335 --> 01:06:49,505
but I could just give a highlight
an example and say, Hey,
1245
01:06:49,505 --> 01:06:51,548
if you've been
enjoying it so much,
1246
01:06:51,548 --> 01:06:53,300
send me something
through something funny
1247
01:06:53,300 --> 01:06:57,972
like 8008 Abuad donation,
or you can do this
1248
01:06:57,972 --> 01:07:01,349
unprompted on your own.
This can be automated
1249
01:07:01,349 --> 01:07:05,438
for recurring amounts
for support, even if the
1250
01:07:05,438 --> 01:07:08,940
listening is a regular.
So if you're more of someone who
1251
01:07:08,940 --> 01:07:12,027
who just wants to support a show,
but you're not necessarily
1252
01:07:12,027 --> 01:07:14,780
going to be listening in
to every single episode,
1253
01:07:14,780 --> 01:07:17,867
you can do it so that you will
have a boost
1254
01:07:17,867 --> 01:07:20,119
come in a certain amount
for each episode,
1255
01:07:20,119 --> 01:07:22,913
for each piece of content
that I create.
1256
01:07:22,913 --> 01:07:25,166
Or you could do this
on a schedule,
1257
01:07:25,166 --> 01:07:27,876
much like Dave Jones
does for for myself,
1258
01:07:27,876 --> 01:07:33,007
for this show, where he will send
in his regular 1 to 1 one two.
1259
01:07:33,007 --> 01:07:37,385
So 12,112 sets,
which has a special
1260
01:07:37,385 --> 01:07:41,514
meaning to him every week on the
on a Wednesday. And it's
1261
01:07:41,514 --> 01:07:43,266
a show of support
even if he doesn't
1262
01:07:43,266 --> 01:07:47,980
necessarily have time to tune in
to this actual show. We can also
1263
01:07:47,980 --> 01:07:50,440
see this being done
through another service
1264
01:07:50,440 --> 01:07:55,737
called Oche, which which allows
for one time payments, recurring
1265
01:07:55,737 --> 01:07:57,947
one time payments
and in the future
1266
01:07:57,947 --> 01:08:00,826
we'll see this through
apps such as POD fans,
1267
01:08:00,826 --> 01:08:02,494
which have this
service built into it,
1268
01:08:03,788 --> 01:08:06,248
the booster Graham
So that is a boost. Boost to
1269
01:08:06,248 --> 01:08:08,626
Graham is essentially
the same thing but with a message
1270
01:08:08,626 --> 01:08:12,545
attached to it as well.
So this can provide the show
1271
01:08:12,545 --> 01:08:16,175
for extra content
and valuable feedback.
1272
01:08:16,175 --> 01:08:19,261
And it's kind of way
of solving the black box
1273
01:08:19,261 --> 01:08:22,305
problem of
writers and podcasters,
1274
01:08:22,305 --> 01:08:25,434
which I referenced before.
So this is where
1275
01:08:25,434 --> 01:08:28,520
for my first year
and a half of podcasting,
1276
01:08:28,520 --> 01:08:31,899
it really did
feel like I was speaking to avoid
1277
01:08:31,899 --> 01:08:35,277
very little feedback
would come to me and some of
1278
01:08:35,277 --> 01:08:38,697
it was so hard to find.
I didn't even know it was there,
1279
01:08:38,697 --> 01:08:42,993
such as someone left us a review
on Apple Podcasts. I don't have a
1280
01:08:42,993 --> 01:08:45,912
notification system
that blinks up and tells me,
1281
01:08:45,912 --> 01:08:48,164
Oh, you've received a new thing
on Apple Podcasts.
1282
01:08:48,164 --> 01:08:51,460
No, I would have to go to that
day in and day out to see
1283
01:08:51,460 --> 01:08:57,091
or did someone do anything that
is very much a painful
1284
01:08:57,091 --> 01:09:00,886
process because I remember
doing this myself. I would listen
1285
01:09:00,886 --> 01:09:03,764
to a whole bunch of podcasts
and I would want to
1286
01:09:03,764 --> 01:09:05,975
give them some feedback,
say, Hey, I really enjoyed
1287
01:09:05,975 --> 01:09:07,810
listening to the show.
Now how would I
1288
01:09:07,810 --> 01:09:10,688
typically do this? Well,
I couldn't do without it
1289
01:09:10,688 --> 01:09:12,523
within the podcasting app,
so usually
1290
01:09:12,523 --> 01:09:15,275
I'd have a try and see,
do they have any social?
1291
01:09:15,275 --> 01:09:17,360
Okay, yeah, maybe they have
an Instagram. All right,
1292
01:09:17,360 --> 01:09:19,404
I'll go over to them all.
But this kind of weird
1293
01:09:19,404 --> 01:09:23,199
just sending them
an unprompted message. Whatever.
1294
01:09:23,199 --> 01:09:26,453
I'll do it anyway.
Oh, that message. Did that
1295
01:09:26,453 --> 01:09:28,663
actually go through
or are they just ignoring it?
1296
01:09:28,663 --> 01:09:30,457
I'm not too sure
because it doesn't have the Reed
1297
01:09:30,457 --> 01:09:33,793
functionality.
And funny little example here was
1298
01:09:33,793 --> 01:09:39,550
I sent a podcast
or a message in 2021 sorry, 2020
1299
01:09:39,550 --> 01:09:42,761
and they didn't
respond to it until 2023.
1300
01:09:42,761 --> 01:09:45,555
And they were just like,
Oh my God, I'm so sorry.
1301
01:09:45,555 --> 01:09:48,850
This went into the
the non primary
1302
01:09:48,850 --> 01:09:50,685
section of Instagram
and I just don't
1303
01:09:50,685 --> 01:09:55,064
check the other bit. Thank you.
Thank you for giving me a review
1304
01:09:55,064 --> 01:09:59,194
and sending some feedback.
Two years, 2 to 3 years
1305
01:09:59,194 --> 01:10:03,364
after the fact.
So the amazing thing for this is
1306
01:10:03,364 --> 01:10:05,283
you really are solving
that problem
1307
01:10:05,283 --> 01:10:07,368
when you get a booster
Graham in you
1308
01:10:07,368 --> 01:10:11,164
no matter the amount.
It's kind of a just
1309
01:10:11,164 --> 01:10:16,545
direct, in-your-face
show of support. Someone values
1310
01:10:16,545 --> 01:10:18,588
your podcast
and it doesn't matter
1311
01:10:18,588 --> 01:10:21,216
how much it is
really the bigger amount.
1312
01:10:21,216 --> 01:10:24,552
Yeah, sure. That's amazing.
But it's more the, the aspect
1313
01:10:24,552 --> 01:10:26,721
that you can know, you can see,
you can feel it.
1314
01:10:26,721 --> 01:10:30,100
It's something tangible
which just is an absolute
1315
01:10:30,100 --> 01:10:33,979
game changer. So boost booster
Graham's and streaming sites
1316
01:10:33,979 --> 01:10:39,400
to two amazing functionalities
that occur from the value tag.
1317
01:10:39,400 --> 01:10:42,238
Now I've been talking about this
for a while but what's some
1318
01:10:42,238 --> 01:10:46,115
case examples? And so I'm going
to give you some of our stats
1319
01:10:46,115 --> 01:10:51,454
that we've done for the show.
So I received we've received our
1320
01:10:51,454 --> 01:10:56,085
first revenue boost,
which came in of July 2021
1321
01:10:56,085 --> 01:10:59,796
from a supporter who doesn't tune
in that much, I don't think,
1322
01:10:59,796 --> 01:11:03,550
by the name of Chad F And so
if you're looking
1323
01:11:03,550 --> 01:11:06,552
at your screen now,
and if you can't see the graph
1324
01:11:06,552 --> 01:11:10,099
that I'm talking about, either
go on to the YouTube channel
1325
01:11:10,099 --> 01:11:15,688
or go on to a new podcast app,
new podcast app sitcom one
1326
01:11:15,688 --> 01:11:20,609
like Fountain Costa Matic,
Chiara Costa Pod verse,
1327
01:11:20,609 --> 01:11:22,987
and they will be able
to show these pod friend,
1328
01:11:22,987 --> 01:11:24,570
they will be able to show
these images
1329
01:11:24,570 --> 01:11:28,449
within the actual app.
And you can see from we've
1330
01:11:28,449 --> 01:11:30,703
I've created this graph
which goes from quarter
1331
01:11:30,703 --> 01:11:35,748
three of 2021 through to quarter
one of 2023 because that is
1332
01:11:35,748 --> 01:11:39,545
the most recent. And you can see
it's once again
1333
01:11:39,545 --> 01:11:43,006
one of those kind of
bar graphs turning into hopefully
1334
01:11:43,006 --> 01:11:45,216
exponential graphs
where just the amounts
1335
01:11:45,216 --> 01:11:48,345
just get larger and larger.
So we first started off
1336
01:11:48,345 --> 01:11:53,434
in our first three months
with getting about 209,000.
1337
01:11:53,434 --> 01:12:00,231
So that's a year later we're
sitting at 1,860,000
1338
01:12:00,524 --> 01:12:02,775
and then roughly
another year later
1339
01:12:02,775 --> 01:12:05,863
we're sitting at
4 million and something.
1340
01:12:05,863 --> 01:12:07,905
And you can really just see
like the numbers
1341
01:12:07,905 --> 01:12:11,909
stop and go up here
now in terms of, okay,
1342
01:12:11,909 --> 01:12:16,039
how much actually is this?
Is this better than advertising,
1343
01:12:16,039 --> 01:12:20,711
for example? Well,
we can put it this way. If you do
1344
01:12:20,711 --> 01:12:26,591
the math, 4,363,000
SATs comes out as roughly
1345
01:12:26,591 --> 01:12:30,220
a grand and a half,
1 to 1 and a half
1346
01:12:30,220 --> 01:12:34,600
to two grand Australian. So one
and a half to $2,000. How much
1347
01:12:34,600 --> 01:12:36,310
would we have gotten
if we had done
1348
01:12:36,310 --> 01:12:39,854
kind of the standard advertising
in that time period? Well,
1349
01:12:39,854 --> 01:12:43,359
for the amount of listeners
that our show gets, which is
1350
01:12:43,359 --> 01:12:45,444
I'd say in that time period
it was probably about
1351
01:12:45,444 --> 01:12:52,117
100,000 listeners.
You can typically get 15 to $20
1352
01:12:52,368 --> 01:12:54,661
cost per mile.
So this is for every
1353
01:12:54,661 --> 01:12:57,372
thousand times
that someone listens to the show,
1354
01:12:57,372 --> 01:13:01,417
you'll get maybe 15 to $20.
If you do the math for that.
1355
01:13:01,417 --> 01:13:03,045
Once again,
that's roughly equalling
1356
01:13:03,045 --> 01:13:07,091
to that one and a half to $2,000,
which are reasonable numbers.
1357
01:13:07,091 --> 01:13:10,301
Everything I said
there was was reasonable.
1358
01:13:10,301 --> 01:13:13,764
Now that's okay.
So you can kind of say, well,
1359
01:13:13,764 --> 01:13:17,725
that's roughly
equivalent and okay, why,
1360
01:13:17,725 --> 01:13:19,520
why should I do it then? Wouldn't
it just be easier
1361
01:13:19,520 --> 01:13:23,356
to do advertising? Well, mean,
not necessarily. I would argue
1362
01:13:23,356 --> 01:13:25,943
that my show is better
because we've never taken
1363
01:13:25,943 --> 01:13:29,070
advertising money for it.
So I can avoid
1364
01:13:29,070 --> 01:13:32,533
all the censorship issues
that I talked about before.
1365
01:13:32,533 --> 01:13:35,077
I never had to do any meetings
with advertisers
1366
01:13:35,077 --> 01:13:38,663
or sponsors about, you know,
agreements on this,
1367
01:13:38,663 --> 01:13:42,042
on how we can do the
the host read host, read
1368
01:13:42,042 --> 01:13:45,253
or talking about this product or,
you know, you need to say it
1369
01:13:45,253 --> 01:13:49,757
this way or say say it more
with more passion or
1370
01:13:49,757 --> 01:13:53,220
remember to make sure you say
the code at the end and there's
1371
01:13:53,220 --> 01:13:57,306
a lot of hassle that can go into
all of that as well. And I think
1372
01:13:57,306 --> 01:14:00,560
of the downside of of advertising
and sponsorship,
1373
01:14:00,560 --> 01:14:02,229
there's some other things
which you can maybe
1374
01:14:02,229 --> 01:14:04,564
call downsides.
You do have to constantly
1375
01:14:04,564 --> 01:14:07,109
remind your audience.
You do have to ask
1376
01:14:07,109 --> 01:14:08,985
when you first start off,
it kind of
1377
01:14:08,985 --> 01:14:11,988
feels like begging, like,
please send me some support.
1378
01:14:11,988 --> 01:14:14,408
But no, when you get into
the meat of it, it goes
1379
01:14:14,408 --> 01:14:17,453
on providing a show and providing
value for you. I just ask that
1380
01:14:17,453 --> 01:14:20,204
you provide it back. That's
that's all I'm asking for.
1381
01:14:20,204 --> 01:14:23,625
So with our show,
you can kind of see, okay,
1382
01:14:23,625 --> 01:14:25,961
you know, it's done.
It's starting to make some sense
1383
01:14:25,961 --> 01:14:29,756
and I'm going to continue
doing this. And
1384
01:14:29,756 --> 01:14:32,551
this is not a big show.
I started off from scratch.
1385
01:14:32,551 --> 01:14:35,804
I wasn't a famous person
before I started and I hopefully
1386
01:14:35,804 --> 01:14:38,474
never will be famous. So that
doesn't sound fun.
1387
01:14:38,474 --> 01:14:41,935
But I do want to
I do think I can get to a level
1388
01:14:41,935 --> 01:14:45,396
where I will be able to
to form a lifestyle, to have a
1389
01:14:45,396 --> 01:14:48,900
an income generated
from the podcast, from people
1390
01:14:48,900 --> 01:14:52,570
supporting into me. And if
I find that kind of
1391
01:14:52,570 --> 01:14:56,073
thousand true fans,
which is a very famous
1392
01:14:56,073 --> 01:14:59,744
blog post by Kevin Kelly,
which is this aspect of you know
1393
01:14:59,744 --> 01:15:03,164
if you get a thousand people
who are willing to support you
1394
01:15:03,164 --> 01:15:06,627
in a monetary form, that's that's
kind of all you need. You don't
1395
01:15:06,627 --> 01:15:08,587
you don't need to
be a famous megastar.
1396
01:15:08,587 --> 01:15:10,756
You don't need to be
getting millions
1397
01:15:10,756 --> 01:15:13,007
and millions of downloads
per episode. You can
1398
01:15:13,007 --> 01:15:16,636
you can survive on a much,
much less than that. Now, Adam
1399
01:15:16,636 --> 01:15:22,809
Curry is another classic example
for his stats. I
1400
01:15:22,809 --> 01:15:25,145
it's hard to measure
because I don't listen
1401
01:15:25,145 --> 01:15:29,440
to his show that often,
but they have segments
1402
01:15:29,440 --> 01:15:31,984
in that show where they just
thank everyone for
1403
01:15:31,984 --> 01:15:34,363
for his supporting them.
And because they
1404
01:15:34,363 --> 01:15:37,114
were getting so much
they had to put caps on it of,
1405
01:15:37,114 --> 01:15:43,956
you know, you if it's less than
kind of $150, we don't have time
1406
01:15:43,956 --> 01:15:46,332
that the show
will just go so long.
1407
01:15:46,332 --> 01:15:51,712
And so they have people
sending in 300,$400 regularly.
1408
01:15:51,712 --> 01:15:56,717
And then every now and then 5000,
you know, thousands of thousand.
1409
01:15:56,717 --> 01:16:00,180
So it's definitely
to to create it to a level
1410
01:16:00,180 --> 01:16:02,849
to get it to a level
where you are able to
1411
01:16:02,849 --> 01:16:06,520
just sustain not just one
family or two, but two family
1412
01:16:06,520 --> 01:16:08,646
and and to do it in a way
where you don't need
1413
01:16:08,646 --> 01:16:12,818
to have a full network,
you don't need to be this crazy
1414
01:16:12,818 --> 01:16:15,279
big celebrity or popular
or something like that.
1415
01:16:15,279 --> 01:16:17,113
Now you can have your niche
and you can
1416
01:16:17,113 --> 01:16:21,618
you make it for yourself.
Now, another case example here is
1417
01:16:21,618 --> 01:16:23,828
is just showing that
people are actually using this.
1418
01:16:23,828 --> 01:16:26,081
Everything that I talked about
now is how,
1419
01:16:26,081 --> 01:16:28,958
look, it's kind of nerdy.
I get it talking about RSS
1420
01:16:28,958 --> 01:16:30,711
feeds, talking
about audio, talking
1421
01:16:30,711 --> 01:16:34,547
about all these different things.
Why do I care, Karen? Well,
1422
01:16:34,547 --> 01:16:37,175
it's it is the way of the future
that is kind of like
1423
01:16:37,175 --> 01:16:41,721
nerds determine
where where things go. And it's,
1424
01:16:41,721 --> 01:16:44,224
you know, if you're on
that boundary point between nerdy
1425
01:16:44,224 --> 01:16:48,520
and or normal, then then
it might be worth exploring some
1426
01:16:48,520 --> 01:16:50,564
of these things.
And what I can tell you
1427
01:16:50,564 --> 01:16:53,317
is that it is gaining adoption.
So the other graph
1428
01:16:53,317 --> 01:16:57,654
that you'll see on your screen
was showing the V for V stats,
1429
01:16:57,654 --> 01:16:59,823
and now these are coming
from the actual podcast
1430
01:16:59,823 --> 01:17:04,744
index itself
because they ask for a 1% payment
1431
01:17:04,744 --> 01:17:09,373
of everything that goes through
1% fee, they actually get
1432
01:17:09,373 --> 01:17:11,960
quite a good bit of data
on what's actually going
1433
01:17:11,960 --> 01:17:13,962
on, how much is actually
roughly flowing
1434
01:17:13,962 --> 01:17:17,466
through the system.
Now, not everyone gets this.
1435
01:17:17,466 --> 01:17:22,261
So just taking from that
the website which is stats dot
1436
01:17:22,261 --> 01:17:26,099
bond podcast index
dot org slash V for V,
1437
01:17:26,099 --> 01:17:27,725
this is a look
at the total assets
1438
01:17:27,725 --> 01:17:29,645
flowing through the value
for value lightning,
1439
01:17:29,645 --> 01:17:32,396
podcasting economy over
various periods of time.
1440
01:17:32,396 --> 01:17:36,068
We calculate this data
based on our visibility as a 1%
1441
01:17:36,068 --> 01:17:39,404
split on podcast
index dot org API calls.
1442
01:17:39,404 --> 01:17:41,030
Therefore the true numbers
could be higher,
1443
01:17:41,030 --> 01:17:43,992
but they cannot be
lower than listed here.
1444
01:17:43,992 --> 01:17:45,868
This represents
our best approximation
1445
01:17:45,868 --> 01:17:49,163
of how many sets are flowing
across the entire ecosystem
1446
01:17:49,163 --> 01:17:52,376
from listeners to creators
guest via episode splits,
1447
01:17:52,376 --> 01:17:55,628
platforms, services and apps.
So it's really showing,
1448
01:17:55,628 --> 01:17:58,631
okay, what's going on,
where is all of this stuff going?
1449
01:17:58,631 --> 01:18:02,636
So I'll just read from the 90 day
period that they have here
1450
01:18:02,636 --> 01:18:08,100
in the last 90 days,
110,000 807,468
1451
01:18:08,100 --> 01:18:11,435
sets, which is equalling
to about 30 grand.
1452
01:18:11,435 --> 01:18:14,398
I'm guessing that's USD
has been flowing
1453
01:18:14,398 --> 01:18:16,108
through the system.
So that's more than
1454
01:18:16,108 --> 01:18:18,527
a four Bitcoin.
The transaction count,
1455
01:18:18,527 --> 01:18:21,113
there's been about a
million transactions and unique
1456
01:18:21,113 --> 01:18:28,494
senders is roughly hovering about
3 to 400 per day. Once again, I
1457
01:18:28,494 --> 01:18:32,248
would say in terms of
the full numbers, you know,
1458
01:18:32,248 --> 01:18:34,667
is this millions,
is this billions of dollars?
1459
01:18:34,667 --> 01:18:37,421
No, no, not yet. It's still
relatively small.
1460
01:18:37,421 --> 01:18:41,173
But what I can say is,
once again, this is this is
1461
01:18:41,173 --> 01:18:44,219
getting distributed across
a variety of places.
1462
01:18:44,219 --> 01:18:47,264
At the moment. There's about
13,000 podcasts
1463
01:18:47,264 --> 01:18:52,644
which have this enabled. Now.
Are every single 13,000 of them
1464
01:18:52,644 --> 01:18:55,104
getting an equal split of that
absolutely no way
1465
01:18:55,104 --> 01:18:57,774
because many of them
have enabled it, but they don't
1466
01:18:57,774 --> 01:18:59,693
talk about it.
They don't ask for value
1467
01:18:59,693 --> 01:19:03,572
back from their audience
unless people know about
1468
01:19:03,572 --> 01:19:06,115
the service, what you're
what you're operating,
1469
01:19:06,115 --> 01:19:08,577
what you're asking for,
how to do it. They're not
1470
01:19:08,577 --> 01:19:11,078
going to do it. And so
even though you can
1471
01:19:11,078 --> 01:19:14,623
maybe say, Oh,
that's not that much, in the last
1472
01:19:14,623 --> 01:19:17,127
couple of months
we have received.
1473
01:19:17,127 --> 01:19:19,296
So in this 90 day period,
I would say we
1474
01:19:19,296 --> 01:19:22,673
as the mere mortals, we probably
got about 2 million of that.
1475
01:19:22,673 --> 01:19:27,095
So that definitely more than our
fair share. But it's because we
1476
01:19:27,095 --> 01:19:30,931
follow the system and we
we ask for the value back
1477
01:19:30,931 --> 01:19:34,269
and we make it obvious as to
how how supporters can help
1478
01:19:34,269 --> 01:19:38,314
support via this way.
Now, effort and patience
1479
01:19:38,314 --> 01:19:41,234
definitely does get rewarded.
So even though
1480
01:19:41,234 --> 01:19:44,488
the numbers are small,
they're growing and when I
1481
01:19:44,488 --> 01:19:49,868
first started off this in
when was at 2021
1482
01:19:49,868 --> 01:19:54,914
that was 400 podcasts
which which had value enabled.
1483
01:19:54,914 --> 01:19:58,960
That's up to 13,000 now.
And you can see over time,
1484
01:19:58,960 --> 01:20:01,421
the graph of that
also shows, okay,
1485
01:20:01,421 --> 01:20:03,006
this is regularly
gaining adoption.
1486
01:20:03,006 --> 01:20:04,841
People are becoming
interested in this
1487
01:20:04,841 --> 01:20:07,594
and it's it's not slowing
down, it's not going downwards.
1488
01:20:07,594 --> 01:20:09,762
More and more people
are getting interested
1489
01:20:09,762 --> 01:20:13,809
of these three 13,000
about three quarters
1490
01:20:13,809 --> 01:20:16,978
of these three speak feeds,
which are an interesting
1491
01:20:16,978 --> 01:20:19,939
little side project here
and which is getting more,
1492
01:20:19,939 --> 01:20:22,484
I suppose, onto
the room for more.
1493
01:20:22,484 --> 01:20:23,777
What's going to come
in the future,
1494
01:20:23,777 --> 01:20:28,073
What are some other cool things,
how individuals
1495
01:20:28,073 --> 01:20:32,034
are able to to make this
make a big difference
1496
01:20:32,034 --> 01:20:34,371
just on their own.
And there's this thing
1497
01:20:34,371 --> 01:20:37,207
called Popping and Hive.
So one of the things
1498
01:20:37,207 --> 01:20:40,335
about podcasting 2.0 is that
everyone is welcome
1499
01:20:40,335 --> 01:20:42,796
to participate
for value for value
1500
01:20:42,796 --> 01:20:45,422
and for Bitcoin. Actually,
everyone is able to participate.
1501
01:20:45,422 --> 01:20:48,635
This is the permissionless.
Everyone can get out of it.
1502
01:20:48,635 --> 01:20:50,886
And it's important
to remember that
1503
01:20:50,886 --> 01:20:54,640
value is subjective and there's
one of the things I kind of you
1504
01:20:54,640 --> 01:20:57,435
value for value. It's it's
a bitcoin thing.
1505
01:20:57,435 --> 01:20:59,979
You can send bitcoin.
Yeah, sure you can,
1506
01:20:59,979 --> 01:21:02,481
but you can also send
other things. It's value
1507
01:21:02,481 --> 01:21:06,819
for value is subjective. And so
there's these two things
1508
01:21:06,819 --> 01:21:09,530
which are being created,
one called pod banks, which is a
1509
01:21:09,530 --> 01:21:11,908
notification system
that can reduce the amount
1510
01:21:11,908 --> 01:21:14,743
of energy required
for scraping feeds just to check
1511
01:21:14,743 --> 01:21:16,537
if they have changed.
So typically,
1512
01:21:16,537 --> 01:21:20,417
the way that something like Apple
or Spotify will check to see
1513
01:21:20,417 --> 01:21:24,671
if new podcasts have been
updated is or a new episode of
1514
01:21:24,671 --> 01:21:27,047
they change their artwork.
Do they change the description
1515
01:21:27,047 --> 01:21:29,801
in one of their shows
is they just scrape,
1516
01:21:29,801 --> 01:21:32,345
they are just clawing
every single fee
1517
01:21:32,345 --> 01:21:36,015
that every single podcast host,
you know, every half an hour.
1518
01:21:36,015 --> 01:21:38,225
Give me that data, you know,
and this requires
1519
01:21:38,225 --> 01:21:41,645
a ton of energy to do, wouldn't
it make more sense
1520
01:21:41,645 --> 01:21:45,609
if the podcast hosts
or the people who are in the feed
1521
01:21:45,609 --> 01:21:48,278
just send out a message
every every time that they
1522
01:21:48,278 --> 01:21:50,404
change something.
And then that would
1523
01:21:50,404 --> 01:21:54,074
allow Apple to now
get a new version of their feed.
1524
01:21:54,074 --> 01:21:56,578
And so they're not wasting
all of this energy
1525
01:21:56,578 --> 01:21:59,872
checking for things that actually
haven't changed. Well,
1526
01:21:59,872 --> 01:22:02,292
this is what pumping does
pumping is a way
1527
01:22:02,292 --> 01:22:04,418
for the podcast host
to send out a message.
1528
01:22:04,418 --> 01:22:07,046
And then this is written on the
The Hive blockchain,
1529
01:22:07,046 --> 01:22:09,673
which is very much suited
for this sort of stuff.
1530
01:22:09,673 --> 01:22:12,551
I won't get into all the details,
but it's very cool
1531
01:22:12,551 --> 01:22:16,972
where something which is
a kind of niche, hard
1532
01:22:16,972 --> 01:22:20,018
to fix problem was solved by
by really kind of
1533
01:22:20,018 --> 01:22:22,645
one guy proposing it
and then a couple of people
1534
01:22:22,645 --> 01:22:25,064
getting into it.
And so this was a guy
1535
01:22:25,064 --> 01:22:28,443
by the name of Brian of London,
and he has also done
1536
01:22:28,443 --> 01:22:30,278
some other cool
things like the Hive
1537
01:22:30,278 --> 01:22:33,405
Two Lightning Bridge.
So there's blockchain,
1538
01:22:33,405 --> 01:22:36,283
the Hive blockchain,
they have their own version
1539
01:22:36,283 --> 01:22:41,163
of currency on it. And if you are
listening to one of their
1540
01:22:41,163 --> 01:22:43,958
their feeds, so I've mentioned
the three speak before.
1541
01:22:43,958 --> 01:22:47,837
So this is basically
a video podcast, which is
1542
01:22:47,837 --> 01:22:50,506
something that they use on this,
this blockchain people
1543
01:22:50,506 --> 01:22:53,842
create these video podcasts.
If you go into an app
1544
01:22:53,842 --> 01:22:57,305
and you are listening via
lightning via Bitcoin,
1545
01:22:57,305 --> 01:23:00,307
he's created a way
where as you are listening,
1546
01:23:00,307 --> 01:23:04,020
it can automatically convert this
and turn it into hive.
1547
01:23:04,020 --> 01:23:07,148
So something that these people
on this platform
1548
01:23:07,148 --> 01:23:11,444
value more than Satoshis
So this is really cool stuff
1549
01:23:11,444 --> 01:23:14,863
where it's just
kind of everyone's
1550
01:23:14,863 --> 01:23:17,117
working together
and there's just no,
1551
01:23:17,117 --> 01:23:19,452
there's no restrictions. If you,
if you've got your
1552
01:23:19,452 --> 01:23:20,912
own sort of thing
and you're willing
1553
01:23:20,912 --> 01:23:23,914
to put in a bit of work
and effort to to try create
1554
01:23:23,914 --> 01:23:27,418
something new, the value tag,
for example, it's
1555
01:23:27,418 --> 01:23:29,045
it's not only lightning.
You can use
1556
01:23:29,045 --> 01:23:30,713
whatever cryptocurrency
you want in there.
1557
01:23:30,713 --> 01:23:34,551
If you're willing to put
in the time to do
1558
01:23:34,551 --> 01:23:37,302
the hard development
that's required. If you're
1559
01:23:37,302 --> 01:23:38,721
if there are other
people out there
1560
01:23:38,721 --> 01:23:41,015
who will create apps
that will support this,
1561
01:23:42,100 --> 01:23:45,310
it's it's kind of
the very definition of the free
1562
01:23:45,310 --> 01:23:48,648
and open market. Everyone can do
what they want, and it's
1563
01:23:48,648 --> 01:23:51,525
through the interaction
of everyone doing what they want
1564
01:23:51,525 --> 01:23:54,612
that we find out what actually
is valuable, what do actually
1565
01:23:54,612 --> 01:23:58,658
a lot of people want and need.
And this is then finally
1566
01:23:58,658 --> 01:24:01,994
getting us into what else is
in the future.
1567
01:24:01,994 --> 01:24:04,247
I've been only talking
about podcasting here,
1568
01:24:04,247 --> 01:24:07,667
but digital content comes in.
Many forms can come, the music
1569
01:24:07,667 --> 01:24:11,462
can come in, writing can come in
video and RSS supports
1570
01:24:11,462 --> 01:24:13,840
all of these.
You can have a blog,
1571
01:24:13,840 --> 01:24:16,717
you can put music in
in an audio file
1572
01:24:16,717 --> 01:24:19,762
and you can put video in.
And though they might not
1573
01:24:19,762 --> 01:24:23,682
be podcasts, they're definitely
digital. This is
1574
01:24:23,682 --> 01:24:27,228
commonly associated
with audio, but RSS, which stands
1575
01:24:27,228 --> 01:24:31,356
for really simple
syndication is a simple but also
1576
01:24:31,356 --> 01:24:35,319
powerful tool, so commonly
just for the empathy of kind
1577
01:24:35,319 --> 01:24:38,155
of people talking.
But why can't you do it
1578
01:24:38,155 --> 01:24:40,240
for music? And well,
the thing is, you can.
1579
01:24:40,240 --> 01:24:43,536
And so there was a band
called Able in The Wolf,
1580
01:24:43,536 --> 01:24:45,872
which was comprised
of two podcasters,
1581
01:24:45,872 --> 01:24:48,582
and they decided,
Hey, we want to actually
1582
01:24:49,626 --> 01:24:53,755
create some music using this
new system and see
1583
01:24:53,755 --> 01:24:55,840
is this actually better
than perhaps
1584
01:24:55,840 --> 01:24:58,426
something like Spotify,
where you as the artist,
1585
01:24:58,426 --> 01:25:01,554
as the creator,
you get very little.
1586
01:25:01,554 --> 01:25:06,225
For every thousand
listens that someone is on there,
1587
01:25:06,225 --> 01:25:09,311
you'll get maybe
I think it's a cent or $0.02.
1588
01:25:09,311 --> 01:25:14,442
It's an absurdly small amount
if you compare this to roughly
1589
01:25:14,442 --> 01:25:16,569
what we've seen,
which is very similar
1590
01:25:16,569 --> 01:25:19,447
to the amount of money
that you can get via,
1591
01:25:19,447 --> 01:25:22,408
via advertising.
So it was roughly around that 15
1592
01:25:22,408 --> 01:25:25,912
to $20 per thousand.
They actually experienced
1593
01:25:25,912 --> 01:25:29,498
something similar. So they put
their music up in an RSS feed,
1594
01:25:29,498 --> 01:25:32,710
they put images,
which is kind of like
1595
01:25:32,710 --> 01:25:35,046
what you would see
for the episode artwork
1596
01:25:35,046 --> 01:25:37,798
or the band, the cover,
the cover art that you would
1597
01:25:37,798 --> 01:25:42,261
typically see on a a CD back
when those were a thing
1598
01:25:42,261 --> 01:25:48,184
and they were able to
to do this and that was it just a
1599
01:25:49,351 --> 01:25:52,855
a need for a drive for it.
People enjoyed listening to music
1600
01:25:52,855 --> 01:25:56,609
and whilst it's kind of
the functionality is not great
1601
01:25:56,609 --> 01:26:00,113
at the moment because you have to
use a podcast app and it's
1602
01:26:00,113 --> 01:26:03,032
to use a music app
much like YouTube music,
1603
01:26:03,032 --> 01:26:05,243
much like kind of Spotify
used to be before
1604
01:26:05,243 --> 01:26:07,871
it added podcasts.
There's there's ways
1605
01:26:07,871 --> 01:26:10,206
where this is becoming
more and more valuable.
1606
01:26:10,206 --> 01:26:11,707
Another thing
I haven't talked about
1607
01:26:11,707 --> 01:26:16,253
was the value time split.
So this is being able to say
1608
01:26:16,253 --> 01:26:20,382
directly within an episode,
I want it to change
1609
01:26:20,382 --> 01:26:23,511
from my normal split
between my myself one
1610
01:26:23,511 --> 01:26:28,265
and the developers, I'd like that
to go to somewhere else. And this
1611
01:26:28,265 --> 01:26:30,643
then allows for so much
more functionality
1612
01:26:30,643 --> 01:26:35,648
like being a DJ, having a DJ set,
you know, welcome.
1613
01:26:35,648 --> 01:26:37,274
You know, talking
about the latest greatest hits
1614
01:26:37,274 --> 01:26:39,735
is a new one I found
play the song
1615
01:26:39,735 --> 01:26:42,905
and as song's playing
all the splits,
1616
01:26:42,905 --> 01:26:44,532
everything changes
and the money goes
1617
01:26:44,532 --> 01:26:46,201
towards the artist.
And then when the
1618
01:26:46,201 --> 01:26:49,078
DJ comes back in,
it goes back to him.
1619
01:26:49,078 --> 01:26:51,788
We're going to see,
hopefully Adam Curry doing this,
1620
01:26:51,788 --> 01:26:58,755
recreating his old MTV, MTV days.
And it could be kind of
1621
01:26:58,755 --> 01:27:01,341
it's almost like
a revival of radio and deejays.
1622
01:27:01,341 --> 01:27:05,677
We might see this
happening within what is,
1623
01:27:05,677 --> 01:27:08,430
I suppose, commonly
the podcasting world.
1624
01:27:08,430 --> 01:27:12,894
We can see this happening
writing with how there are
1625
01:27:12,894 --> 01:27:17,148
things like nostalgia, which is a
it's a protocol basically
1626
01:27:17,148 --> 01:27:18,983
where it's
kind of imagined Twitter.
1627
01:27:18,983 --> 01:27:22,069
But as you're
people can can send you
1628
01:27:22,069 --> 01:27:24,738
instead of a like,
which is just a kind
1629
01:27:24,738 --> 01:27:28,243
of meaningless hot.
There's actually ten sets a very,
1630
01:27:28,243 --> 01:27:30,286
very micropayment,
a portion of bitcoin
1631
01:27:30,286 --> 01:27:33,247
which goes to you
things like stack a news
1632
01:27:33,247 --> 01:27:37,502
blue sky. There's also this idea
of of being able to write
1633
01:27:37,502 --> 01:27:40,296
and people as they're reading,
as they get past
1634
01:27:40,296 --> 01:27:43,173
a certain paragraph, Yeah,
a payment might go
1635
01:27:43,173 --> 01:27:45,801
or something like that.
We can also see this
1636
01:27:45,801 --> 01:27:47,970
with video happening
with picture group I mentioned
1637
01:27:47,970 --> 01:27:50,847
or the three speak
three speak feeds before.
1638
01:27:50,847 --> 01:27:53,768
Those are all video
and even something like,
1639
01:27:53,768 --> 01:27:55,395
like YouTube, which
you might not think
1640
01:27:56,604 --> 01:27:59,064
I was kind of Reilly
on them a bit before but they
1641
01:27:59,064 --> 01:28:02,527
they've something similar
which is super chats
1642
01:28:02,527 --> 01:28:04,612
of being able
to support the creator
1643
01:28:04,612 --> 01:28:06,530
of being able
to send them a message
1644
01:28:06,530 --> 01:28:09,408
as you support them.
And so it shows up on the screen.
1645
01:28:09,408 --> 01:28:13,662
They can thank you directly.
I see this with Twitch as well.
1646
01:28:13,662 --> 01:28:15,622
There's a hunger,
there's a desire.
1647
01:28:15,622 --> 01:28:18,126
The trend is going
towards supporting people
1648
01:28:18,126 --> 01:28:21,296
and in more peer to peer manner
and therefore
1649
01:28:21,296 --> 01:28:24,215
having a digital money
that is programmable.
1650
01:28:24,215 --> 01:28:28,094
A bitcoin makes sense
because you can do so many cool
1651
01:28:28,094 --> 01:28:32,849
things with it. You
create splits, you can tell it
1652
01:28:32,849 --> 01:28:36,810
when to stop and turn on
and you can do recurring payments
1653
01:28:36,810 --> 01:28:40,480
and you can do payments
which don't make sense
1654
01:28:40,480 --> 01:28:42,358
in the current financial system.
There's no way
1655
01:28:42,358 --> 01:28:44,484
you can send anything
less than a dollar
1656
01:28:44,484 --> 01:28:47,195
or $2 anywhere else
because it all
1657
01:28:47,195 --> 01:28:51,117
just gets chewed up in the
that things like PayPal
1658
01:28:51,117 --> 01:28:55,662
will ask for. So all of
that kind of makes sense in this
1659
01:28:55,662 --> 01:28:59,958
digital programmable money way.
All right. That was a whole
1660
01:28:59,958 --> 01:29:04,505
lot of stuff. So let's get into
to my summary podcast. Podcasting
1661
01:29:04,505 --> 01:29:06,591
is finally improving.
There's new features, there's
1662
01:29:06,591 --> 01:29:09,719
new functionalities,
and it provides a better
1663
01:29:09,719 --> 01:29:12,555
listening experience and dare
I even say, a new
1664
01:29:12,555 --> 01:29:15,099
listening experience.
Podcasting 2.0
1665
01:29:15,099 --> 01:29:19,311
is offering so much in terms of
benefit for the listeners,
1666
01:29:19,311 --> 01:29:22,148
but then benefits
also for the people creating it
1667
01:29:22,148 --> 01:29:26,652
of creating a connectivity
between between the two of us
1668
01:29:26,652 --> 01:29:31,032
as a listener. They can now
or I can now decide
1669
01:29:31,032 --> 01:29:34,077
how I want to listen,
how to give value back,
1670
01:29:34,077 --> 01:29:36,871
and if it is,
if I choose to do that
1671
01:29:36,871 --> 01:29:39,289
in one of two three form in a way
that makes
1672
01:29:39,289 --> 01:29:41,208
the most sense, doing it
within the app
1673
01:29:41,208 --> 01:29:45,003
actually makes sense.
It makes sense to just cut out
1674
01:29:45,003 --> 01:29:49,841
all of these middlemen,
to cut out so much bullshit of
1675
01:29:49,841 --> 01:29:52,470
apple scraping
feeds, of wasted energy,
1676
01:29:52,470 --> 01:29:55,430
of getting out of the app,
of trying to go into Instagram
1677
01:29:55,430 --> 01:29:57,391
or somewhere else
to try and find the link,
1678
01:29:57,391 --> 01:29:59,851
do this. Everything is
making sense
1679
01:29:59,851 --> 01:30:03,730
in terms of efficiency,
in terms of energy, in terms
1680
01:30:03,730 --> 01:30:09,069
of being able to connect.
It's so much better now beyond
1681
01:30:09,069 --> 01:30:12,114
all of the the boring
kind of money stuff.
1682
01:30:12,114 --> 01:30:16,159
So I was giving you stats
then of how much I've made of
1683
01:30:16,159 --> 01:30:21,082
of how you can make this of
how you can get more or less or
1684
01:30:21,082 --> 01:30:24,252
all of these sorts of things.
The most important thing
1685
01:30:24,252 --> 01:30:26,753
that all of this has enabled
and in particular
1686
01:30:26,753 --> 01:30:29,881
Bitcoin has enabled,
has helped me to connect more
1687
01:30:29,881 --> 01:30:35,304
with others in a I suppose,
a direct manner, in a in a way
1688
01:30:35,304 --> 01:30:37,931
that I haven't
experienced before. And and also
1689
01:30:37,931 --> 01:30:39,725
it allows me
to behave more ethically
1690
01:30:39,725 --> 01:30:42,520
and truthfully.
There was a period
1691
01:30:42,520 --> 01:30:47,024
where I kind of had reached
the, the boundary
1692
01:30:47,024 --> 01:30:49,944
point of what I wanted
to do with the podcast. If I,
1693
01:30:49,944 --> 01:30:52,654
if I grew it anymore,
I needed to be
1694
01:30:52,654 --> 01:30:55,699
compensated for that because I'm
spending a whole lot of time,
1695
01:30:55,699 --> 01:30:59,119
energy and effort creating all
of these things.
1696
01:30:59,119 --> 01:31:03,666
And to do that long
term, I would need to to
1697
01:31:03,666 --> 01:31:06,836
receive some sort of monetary
payment for that.
1698
01:31:06,836 --> 01:31:09,713
How was I going to do that?
I've always had an aversion
1699
01:31:09,713 --> 01:31:13,509
to advertising, to sponsorships,
and this is enabled me
1700
01:31:13,509 --> 01:31:16,386
to do it in a way which I do
believe is more ethical.
1701
01:31:16,386 --> 01:31:20,056
I do believe it's more truthful,
and it's solving
1702
01:31:20,056 --> 01:31:22,393
so many of those problems
of the black box,
1703
01:31:22,393 --> 01:31:28,106
of feeling alone,
of of not having the support,
1704
01:31:28,106 --> 01:31:29,774
knowing that
someone actually cares,
1705
01:31:29,774 --> 01:31:33,529
that you're creating something,
that it is valuable to them.
1706
01:31:33,529 --> 01:31:36,990
All of this, all of that eclipses
any monetary amount
1707
01:31:36,990 --> 01:31:41,162
that that I've actually received.
So that's kind of my
1708
01:31:41,162 --> 01:31:45,791
my summary of podcasting,
2.0 of value for value and how
1709
01:31:45,791 --> 01:31:48,002
these are delivering
on the promise of Bitcoin
1710
01:31:48,002 --> 01:31:52,088
of enabling peer
to peer transactions between two
1711
01:31:52,088 --> 01:31:56,676
willing participants. Amazing.
So let's just get onto
1712
01:31:56,676 --> 01:31:58,386
my final section.
Here is my value
1713
01:31:58,386 --> 01:32:01,599
ask my call to action. Well,
I would just recommend
1714
01:32:01,599 --> 01:32:05,144
checking out the three podcasts
that I that I've kind of create
1715
01:32:05,144 --> 01:32:08,564
and participate in.
Almost every individual
1716
01:32:08,564 --> 01:32:11,317
I've listed in in
this episode has appeared
1717
01:32:11,317 --> 01:32:13,985
on the model. So Adam
Curry, Dave Jones,
1718
01:32:13,985 --> 01:32:17,782
Brian of London, Chris Fisher,
James Cridland
1719
01:32:17,782 --> 01:32:19,617
and I can't remember
if I have listed
1720
01:32:19,617 --> 01:32:23,119
some more people, perhaps
almost all of them have
1721
01:32:23,119 --> 01:32:24,997
appeared on here.
And so if you want
1722
01:32:24,997 --> 01:32:27,542
more information,
we would just recommend
1723
01:32:27,542 --> 01:32:32,003
checking out some of the back
catalogue and learning more about
1724
01:32:32,003 --> 01:32:35,257
the individual nuances
and that part
1725
01:32:35,257 --> 01:32:38,135
that portion in this part
and creating all of this.
1726
01:32:38,135 --> 01:32:41,137
I would also just say
I have created the Value
1727
01:32:41,137 --> 01:32:45,309
for Value podcast. I have created
two seasons that so far
1728
01:32:45,309 --> 01:32:48,563
and it really does
dive into the nuances. I,
1729
01:32:48,563 --> 01:32:52,065
I have not done value for value A
the justice
1730
01:32:52,065 --> 01:32:56,904
deserves here, but I've,
I've tried to and season three,
1731
01:32:56,904 --> 01:32:58,948
I'm going to be
basing upon this episode.
1732
01:32:58,948 --> 01:33:01,492
So all of these individual kind
of chapters that I've
1733
01:33:01,492 --> 01:33:04,662
created from this
I'll be explaining in more depth.
1734
01:33:04,662 --> 01:33:06,581
I'll be explaining
more of the nuances
1735
01:33:06,581 --> 01:33:09,000
and more of the history
in the back story and how you
1736
01:33:09,000 --> 01:33:11,836
can participate either
as a listener or as a
1737
01:33:11,836 --> 01:33:15,297
content creator yourself.
And then finally
1738
01:33:15,297 --> 01:33:18,759
there's the Mere Mortals
book reviews. And so things like
1739
01:33:18,759 --> 01:33:20,677
the Bitcoin standard,
which was where
1740
01:33:20,677 --> 01:33:23,430
I was talking about
the the definitions
1741
01:33:23,430 --> 01:33:27,475
of, of money of, of commoners
as heir as another book
1742
01:33:27,475 --> 01:33:30,479
review I did which will help
you learn more about
1743
01:33:30,479 --> 01:33:33,064
kind of the open source
IP protection
1744
01:33:33,064 --> 01:33:35,318
and things like that.
Know if you want
1745
01:33:35,318 --> 01:33:38,237
a lot of the ideas and what's
kind of driven me
1746
01:33:38,237 --> 01:33:41,782
to appreciating Bitcoin,
to appreciating value
1747
01:33:41,782 --> 01:33:45,077
for value in podcasting
app, I would recommend
1748
01:33:45,077 --> 01:33:47,203
checking that out as well.
And then if
1749
01:33:47,203 --> 01:33:49,332
you feel like a cheeky,
cheeky boost
1750
01:33:49,332 --> 01:33:51,375
right at the end here,
that is the lifeblood
1751
01:33:51,375 --> 01:33:54,170
of this show.
It is the way that I,
1752
01:33:54,170 --> 01:33:56,046
it, it keeps me going
to be honest.
1753
01:33:56,046 --> 01:33:58,381
If I wasn't getting boosts
and boostagrams and I wouldn't
1754
01:33:58,381 --> 01:34:01,510
be continuing this on.
So I really do appreciate
1755
01:34:01,510 --> 01:34:04,930
that meremortals podcast dot
com is where you can find links
1756
01:34:04,930 --> 01:34:07,265
to all of those things.
And if you go
1757
01:34:07,265 --> 01:34:09,810
to the support page,
you'll see the graphs,
1758
01:34:09,810 --> 01:34:13,521
you will see how you can
participate, the becoming
1759
01:34:13,521 --> 01:34:16,192
a Mere Mortalite
in receiving some swag
1760
01:34:16,192 --> 01:34:20,654
if you reach a certain level
a Mere Mortals t shirt, all sorts
1761
01:34:20,654 --> 01:34:21,905
of different things
you can do there.
1762
01:34:21,905 --> 01:34:26,159
So I really hope you enjoy today
long long rant,
1763
01:34:26,159 --> 01:34:28,244
but I really enjoyed it
and it was something
1764
01:34:28,244 --> 01:34:32,166
that's just been on my mind for
for 2 to 3 years. I'm glad
1765
01:34:32,166 --> 01:34:35,293
finally was able to get all
this out into the open.
1766
01:34:35,293 --> 01:34:37,296
Thank you so much for
for joining all the way
1767
01:34:37,296 --> 01:34:41,591
to the end here. And I really do
hope you enjoy and look forward
1768
01:34:41,591 --> 01:34:45,887
to interacting and creating
more connections with you.
1769
01:34:45,887 --> 01:34:48,682
My dear listeners,
that is it for now.
1770
01:34:48,682 --> 01:34:49,934
For now, Kyrin out.
00:00:05,171 --> 00:00:07,214
Welcome Mere Mortalites
to another round
2
00:00:07,214 --> 00:00:10,134
of the mere mortals meanderings
for an episode
3
00:00:10,134 --> 00:00:13,179
I’ve titled Podcasting
2.0 and value for value
4
00:00:13,179 --> 00:00:16,181
delivering on the
promise of Bitcoin.
5
00:00:16,181 --> 00:00:18,643
My name is Kyrin, host of the
Mere Mortals podcast.
6
00:00:18,643 --> 00:00:20,978
Typically I have my friend Juan
with me to explore
7
00:00:20,978 --> 00:00:23,106
different ideas,
different topics, and we'll
8
00:00:23,106 --> 00:00:25,774
kind of go all over the place.
I'm doing the opposite today.
9
00:00:25,774 --> 00:00:28,695
I'm focusing on a couple
of really core things,
10
00:00:28,695 --> 00:00:30,946
which I've been spending
probably the last
11
00:00:30,946 --> 00:00:33,658
2 to 3 years of my life
really investigating
12
00:00:33,658 --> 00:00:36,161
deeply and trying
to understand better.
13
00:00:36,161 --> 00:00:40,749
So today is Monday,
the 19th of June 2023.
14
00:00:40,914 --> 00:00:42,167
And I'll just say
at the start here,
15
00:00:42,167 --> 00:00:45,045
you're probably going to hear me
using a lot of abbreviations.
16
00:00:45,045 --> 00:00:49,298
So instead of podcasting 2.0,
I might say P 2.0
17
00:00:49,298 --> 00:00:52,926
instead of value for value,
I will definitely be saying V4V
18
00:00:52,926 --> 00:00:55,722
and instead of bitcoin
you might hear me saying BTC
19
00:00:55,722 --> 00:01:00,518
or SATs or short for Satoshis,
which are a portion of bitcoin,
20
00:01:00,518 --> 00:01:04,605
much like a cent
is a portion of a dollar.
21
00:01:04,605 --> 00:01:07,108
So what are we going
to be finding in today's episode?
22
00:01:07,108 --> 00:01:09,319
Well, I'm going to be going over
four properties,
23
00:01:09,319 --> 00:01:12,362
which I feel each of
these separate things
24
00:01:12,362 --> 00:01:14,740
have within them
and why it's interesting
25
00:01:14,740 --> 00:01:17,451
to kind of compare and contrast
between these. We're going
26
00:01:17,451 --> 00:01:20,329
to be going over the history
and the current state
27
00:01:20,329 --> 00:01:22,790
and also the future
of podcasting.
28
00:01:22,790 --> 00:01:25,751
We'll be talking about
a new model of monetisation
29
00:01:25,751 --> 00:01:28,754
for digital creators.
And so much more
30
00:01:28,754 --> 00:01:31,757
than monetisation,
and also how all of these
31
00:01:31,757 --> 00:01:35,637
have combined with the promise
of BTC of Bitcoin
32
00:01:35,637 --> 00:01:38,138
and have had a real
impact on my life.
33
00:01:38,138 --> 00:01:42,435
And so let's just start off
with the definition of Bitcoin
34
00:01:42,435 --> 00:01:44,561
because I think it does help
to get into
35
00:01:44,561 --> 00:01:47,981
meanings and definitions
and why these things are useful.
36
00:01:47,981 --> 00:01:50,025
So going to
the Bitcoin whitepaper
37
00:01:50,025 --> 00:01:53,445
we see from the abstract
bitcoin, a peer to peer
38
00:01:53,445 --> 00:01:56,615
electronic cash system,
a purely peer to peer version of
39
00:01:56,615 --> 00:01:58,742
electronic cash would allow
online payments
40
00:01:58,742 --> 00:02:01,162
to be sent directly
from one party to another
41
00:02:01,162 --> 00:02:04,165
without going through
a financial institution.
42
00:02:04,165 --> 00:02:07,626
And that is what I truly
believe is happening with this
43
00:02:07,626 --> 00:02:10,963
value of the value model mixed
with podcasting 2.0,
44
00:02:10,963 --> 00:02:14,383
we are seeing how people are able
to transact
45
00:02:14,383 --> 00:02:18,304
directly from listener
to the podcast creator
46
00:02:18,304 --> 00:02:21,098
in a manner without financial
institutions
47
00:02:21,098 --> 00:02:23,433
directly peer to peer,
sending value
48
00:02:23,433 --> 00:02:25,895
through this network.
Incredible. Awesome.
49
00:02:25,895 --> 00:02:27,938
So we'll be getting on
to podcasting
50
00:02:27,938 --> 00:02:31,025
2.0 and value for value
a little bit later.
51
00:02:31,025 --> 00:02:33,485
I want to talk about
the properties, which I was
52
00:02:33,485 --> 00:02:37,115
hinting at before, and I suppose
we definition
53
00:02:37,115 --> 00:02:39,366
and meaning of these
because a lot of things
54
00:02:39,366 --> 00:02:42,996
get squirrelly if you don't have
at least some sort of basic form
55
00:02:42,996 --> 00:02:46,832
right at the start. So there are
four properties which I believe
56
00:02:46,832 --> 00:02:49,669
that podcasting to point out
value for value and Bitcoin
57
00:02:49,669 --> 00:02:52,713
all have together these being
decentralisation,
58
00:02:52,713 --> 00:02:56,925
self-sovereignty,
permissionless and enabling of
59
00:02:56,925 --> 00:03:01,097
value transfer. So let's get
into a couple of the definitions
60
00:03:01,097 --> 00:03:03,515
of these. Typically
with decentralisation,
61
00:03:03,515 --> 00:03:06,227
it's usually talking about an
organisation mission
62
00:03:06,227 --> 00:03:08,562
which is doing planning
and decision making.
63
00:03:08,562 --> 00:03:12,734
And then you can
going from Wikipedia here,
64
00:03:12,734 --> 00:03:15,694
it can be distributed
or delegated away from a central
65
00:03:15,694 --> 00:03:17,697
authoritative location
or group and given
66
00:03:17,697 --> 00:03:20,824
to smaller factions within it.
What I think this is
67
00:03:20,824 --> 00:03:24,787
really talking about here
is that you can have something
68
00:03:24,787 --> 00:03:27,456
which is decentralised
and has the property.
69
00:03:27,456 --> 00:03:29,042
It's a property of
a system where the
70
00:03:29,042 --> 00:03:33,212
agents are able to
operate locally, they're able
71
00:03:33,212 --> 00:03:36,883
to make their own decisions
and do their own things
72
00:03:36,883 --> 00:03:39,384
for self sovereignty.
This is talking about
73
00:03:39,384 --> 00:03:43,306
having exclusive control over a
something
74
00:03:43,306 --> 00:03:45,474
that I have a moral right
to not typically
75
00:03:45,474 --> 00:03:47,894
when you hear of self
sovereignty, you'll be
76
00:03:47,894 --> 00:03:49,687
usually talking
about someone's body.
77
00:03:49,687 --> 00:03:52,689
I the the decision
the right to make
78
00:03:52,689 --> 00:03:54,609
and do what they want
with their body
79
00:03:54,609 --> 00:03:56,735
whether this be as small
as something
80
00:03:56,735 --> 00:04:00,531
like getting your ear
pierced to something more
81
00:04:00,615 --> 00:04:03,617
I suppose radical or more serious
has more serious implications
82
00:04:03,617 --> 00:04:06,621
such as getting an abortion
or tattooing
83
00:04:06,621 --> 00:04:09,498
or scouring your body
or vaccinations,
84
00:04:09,498 --> 00:04:13,336
things like that. In this case,
we're going to be talking
85
00:04:13,336 --> 00:04:18,716
more about ideas and speech
rather than the body or identity.
86
00:04:18,716 --> 00:04:21,343
Another one, which is
Self-Sovereign identity,
87
00:04:21,343 --> 00:04:23,930
an approach to digital identity
that gives individuals
88
00:04:23,930 --> 00:04:26,682
control over them, permission
they use to prove who they are
89
00:04:26,682 --> 00:04:30,103
to websites, services
and applications across the web.
90
00:04:30,103 --> 00:04:33,814
This is obviously very important
today in nowadays
91
00:04:33,814 --> 00:04:37,317
with a lot of data hacking,
of breaches, of people losing
92
00:04:37,317 --> 00:04:42,531
confidential information via
not having a secure identity.
93
00:04:42,531 --> 00:04:44,867
So in this case,
self sovereignty. We're going
94
00:04:44,867 --> 00:04:47,745
to be focusing
more on the ability for me
95
00:04:47,745 --> 00:04:52,291
to have the exclusive control
over my ideas and speech
96
00:04:52,291 --> 00:04:57,547
and not have this influenced or
controlled by other entities.
97
00:04:57,547 --> 00:04:59,966
For permissionless,
this is pretty easy.
98
00:04:59,966 --> 00:05:02,468
One does not require
someone else's consent
99
00:05:02,468 --> 00:05:06,221
or authority
or authority to do so.
100
00:05:06,221 --> 00:05:09,516
I don't have to ask
someone to take an action
101
00:05:09,516 --> 00:05:11,644
to do something
that I want to do. And for
102
00:05:11,644 --> 00:05:13,937
in the case of Bitcoin,
we'll see this in terms
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00:05:13,937 --> 00:05:16,733
of sending payments
for value, for value,
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00:05:16,733 --> 00:05:20,110
we'll see this in terms
of being able to send that value
105
00:05:20,110 --> 00:05:23,031
to someone
and doing it in a manner
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00:05:23,031 --> 00:05:27,285
in a amounts that I want to.
And for podcasting, we can see
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00:05:27,285 --> 00:05:30,245
how this will be. For more
about the spreading
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00:05:30,245 --> 00:05:33,915
of those ideas and not requiring
or asking someone,
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00:05:33,915 --> 00:05:35,959
Oh please, please
can I send this idea?
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00:05:35,959 --> 00:05:39,838
Can I say this thing?
The final one is value transfer
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00:05:39,838 --> 00:05:42,507
and this is being able
to move something valuable
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00:05:42,507 --> 00:05:46,262
to another geographic location
and to another person
113
00:05:46,262 --> 00:05:49,139
or to another entity,
or this being a group
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00:05:49,139 --> 00:05:52,310
or something like that.
So let's dive into, I suppose,
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00:05:52,310 --> 00:05:54,853
the original version
of podcasting
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00:05:54,853 --> 00:05:59,108
to start us off with
and how these these four factors
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00:05:59,108 --> 00:06:03,862
are really found within it. So
number one, the decentralisation
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00:06:03,862 --> 00:06:05,865
though, there is
one source of truth,
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00:06:05,865 --> 00:06:09,326
this being the RSS feed.
This can be found on multiple
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00:06:09,326 --> 00:06:15,333
directories, i.e. a compilation
of podcasts. This can be curated
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00:06:15,333 --> 00:06:18,043
or not curated
and can be accessed
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00:06:18,043 --> 00:06:21,004
by many pod catchers, which today
you would now
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00:06:21,004 --> 00:06:24,216
call podcasting apps.
And these being typical ones,
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00:06:24,216 --> 00:06:30,098
you'll hear of Apple, Spotify,
YouTube maybe, and some of the
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00:06:30,098 --> 00:06:33,892
other smaller, but yet
still have sizeable
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00:06:33,892 --> 00:06:36,521
people listening to it
which are more independent,
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00:06:36,521 --> 00:06:38,146
I guess you would say
would be something
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00:06:38,146 --> 00:06:41,733
like podcast addict
or pocket casts. And then there's
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00:06:41,733 --> 00:06:43,653
a whole suite of new apps,
which I'll be talking
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00:06:43,653 --> 00:06:46,029
about shortly.
So we can definitely see
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00:06:46,029 --> 00:06:50,242
how the original version
of podcasting was decentralised.
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00:06:50,242 --> 00:06:52,911
Though there was one thing
I could control that
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00:06:52,911 --> 00:06:55,081
and this is getting into the self
sovereignty,
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00:06:55,081 --> 00:06:57,458
the one source of truth,
the RSS feed.
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00:06:57,458 --> 00:07:00,127
I could host my own feed
or I could choose
136
00:07:00,127 --> 00:07:03,839
to use a podcasting host
and these are typical ones
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00:07:03,839 --> 00:07:09,177
you'll hear of Buzz Sprout
or Caster Pod, for example.
138
00:07:09,177 --> 00:07:14,559
Another more Self-Sovereign one
a blueberry RSS dot com.
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00:07:14,559 --> 00:07:18,937
The list of them goes on and on.
So we have, you know,
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00:07:18,937 --> 00:07:23,483
this decentralised way to access
a single source of truth,
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00:07:23,483 --> 00:07:25,862
which is which I own
or which I have
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00:07:25,862 --> 00:07:28,865
at least the ability to own.
And it's permissionless.
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00:07:28,865 --> 00:07:31,867
All I need is a microphone
and perhaps a laptop
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00:07:31,867 --> 00:07:34,161
or not even that,
maybe just a microphone
145
00:07:34,161 --> 00:07:37,497
and internet access.
And I can say whatever
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00:07:37,497 --> 00:07:39,959
I want, I can swear,
I can talk about taboo
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00:07:39,959 --> 00:07:43,045
topics, I can do it and whatever
style of speech
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00:07:43,045 --> 00:07:47,175
I want with conversations
with other people or via myself
149
00:07:47,175 --> 00:07:50,887
talking into a microphone.
So we can see how okay is very
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00:07:50,887 --> 00:07:52,596
much permissionless.
The original version
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00:07:52,596 --> 00:07:55,682
of podcasting, you could do
whatever you wanted
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00:07:55,682 --> 00:07:58,644
and within the limits
of the law of whatever
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00:07:58,644 --> 00:08:00,812
country you're in.
The final one here,
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00:08:00,812 --> 00:08:04,774
value transfer. Well, what
do podcasts do? Well, typically
155
00:08:04,774 --> 00:08:07,903
there are spreading of
ideas of information,
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00:08:07,903 --> 00:08:10,781
and I would even say
unfiltered, unfiltered,
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00:08:10,781 --> 00:08:12,742
individual truth.
So I could speak
158
00:08:12,742 --> 00:08:15,786
into a microphone
and say whatever I wanted.
159
00:08:15,786 --> 00:08:19,540
And this doesn't necessarily
have to be correct in terms
160
00:08:19,540 --> 00:08:22,502
of objective facts,
but it would allow me to express
161
00:08:22,502 --> 00:08:25,838
a lot of subjective
individual opinions for sure,
162
00:08:25,838 --> 00:08:29,300
and objective facts as well,
if I was so inclined.
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00:08:29,300 --> 00:08:34,304
And we could just see how
this is useful for countries with
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00:08:34,304 --> 00:08:38,683
which have authoritarian regimes
and being able to get information
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00:08:38,683 --> 00:08:41,312
out of those countries
to know, okay, what actually
166
00:08:41,312 --> 00:08:46,107
was going on in
Iran and Iraq and what is
167
00:08:46,107 --> 00:08:49,695
the person on the ground
in Kentucky or the average person
168
00:08:49,695 --> 00:08:52,365
in Britain thinking
or feeling what what are all of
169
00:08:52,365 --> 00:08:55,993
their ideas and whatnot?
So we can really see, okay,
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00:08:55,993 --> 00:08:58,955
this is what the original version
of podcasting had
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00:08:58,955 --> 00:09:01,666
and how these four,
four properties were.
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00:09:01,666 --> 00:09:04,585
We're very much satisfied
with in this and why
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00:09:04,585 --> 00:09:09,173
it exploded as a medium
and became very, very popular.
174
00:09:09,173 --> 00:09:13,719
So getting on to, I suppose
the current trends on podcasting
175
00:09:13,719 --> 00:09:18,349
and knowing just a little bit
more about what, what,
176
00:09:18,349 --> 00:09:20,559
what's happening, what what is
the current state of it,
177
00:09:20,559 --> 00:09:23,770
Is this still true of these
do these properties
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00:09:23,770 --> 00:09:26,982
still hold in today's day
and age of of podcasting
179
00:09:26,982 --> 00:09:30,193
as we know it? Once again,
a definition might be helpful.
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00:09:30,193 --> 00:09:33,905
So I'm going on to pod news
dot net here, which is owned
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00:09:33,905 --> 00:09:36,658
by James Cridland. And he was
just talking about, you know,
182
00:09:36,658 --> 00:09:39,662
what is the what is a podcast?
And there's the technical answer,
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00:09:39,662 --> 00:09:42,999
which most podcast is would agree
that technically a podcast
184
00:09:42,999 --> 00:09:45,625
has five elements
an audio file in MP
185
00:09:45,625 --> 00:09:50,255
three or a C format without DRM,
which is digital
186
00:09:50,255 --> 00:09:54,342
rights management. I believe
the ability available to download
187
00:09:54,342 --> 00:09:58,179
distributed via RSS feed
using an enclosure tag.
188
00:09:58,179 --> 00:10:00,975
You can also have video podcasts,
but they are called
189
00:10:00,975 --> 00:10:05,145
video podcasts. Now this is
the more technical one.
190
00:10:05,145 --> 00:10:07,023
He goes in this article
that he's written
191
00:10:07,023 --> 00:10:11,402
to talk about how the definition
is somewhat slid over the years
192
00:10:11,402 --> 00:10:14,904
and other people would consider,
Oh, okay, you know, something
193
00:10:14,904 --> 00:10:17,741
that is on Spotify
or YouTube or Apple,
194
00:10:17,741 --> 00:10:21,412
even though it's not distributed
via RSS, you could still kind of
195
00:10:21,412 --> 00:10:25,041
call it a podcast,
even though it's not on demand.
196
00:10:25,041 --> 00:10:29,044
It's kind of like a radio show
if you're subscribing to it.
197
00:10:29,044 --> 00:10:33,131
And Apple Podcasts is that one.
I'm not going to get too deep
198
00:10:33,131 --> 00:10:37,636
into the definitions
and talking about is this or is
199
00:10:37,636 --> 00:10:41,014
this is not a podcast,
but I will talk about what
200
00:10:41,014 --> 00:10:43,142
we're actually seeing
with a lot of these platforms
201
00:10:43,142 --> 00:10:46,770
and how they're doing things
which are kind of screwing around
202
00:10:46,770 --> 00:10:49,481
with those fundamental properties
that we saw earlier.
203
00:10:49,481 --> 00:10:52,400
So a couple of trends
that we're seeing
204
00:10:52,400 --> 00:10:55,904
in the podcasting industry over
the last couple of year. Let's
205
00:10:55,904 --> 00:10:58,323
get on to the first one,
which was decentralisation.
206
00:10:58,323 --> 00:11:01,951
So this is being able to
have individual
207
00:11:01,951 --> 00:11:07,291
agents locally acting
upon something. And what we saw
208
00:11:07,291 --> 00:11:11,336
was that Apple participated
in the de-platforming
209
00:11:11,336 --> 00:11:16,884
of content on their their app,
which is totally fine,
210
00:11:16,884 --> 00:11:20,011
but they also had an index
which a lot of other apps
211
00:11:20,011 --> 00:11:22,932
and some of those ones
that I was mentioning just before
212
00:11:22,932 --> 00:11:26,143
also link to to find out
where is the source of truth.
213
00:11:26,143 --> 00:11:29,355
So they weren't going
directly to my RSS feed.
214
00:11:29,355 --> 00:11:32,441
They were kind of using Apple
as the main source of truth.
215
00:11:32,441 --> 00:11:34,693
This is where all the podcasts
in the world are,
216
00:11:34,693 --> 00:11:39,407
even though this is obviously
not not the case because
217
00:11:39,407 --> 00:11:41,533
what we saw was
there were certain
218
00:11:41,533 --> 00:11:44,703
types of things that Apple did
or did not want to allow
219
00:11:44,703 --> 00:11:47,288
on their platform.
That's that's fine. That's their
220
00:11:47,288 --> 00:11:48,999
their right
as an individual company
221
00:11:48,999 --> 00:11:51,961
to to choose what they do
or don't have there.
222
00:11:51,961 --> 00:11:54,462
But we do have a problem
when that
223
00:11:54,462 --> 00:12:00,260
company is also filtering
the content, deciding what others
224
00:12:00,260 --> 00:12:06,225
are going to show and
find available in your app. So if
225
00:12:06,225 --> 00:12:10,645
I, for example, was
a fan of Alex Jones, one day
226
00:12:10,645 --> 00:12:14,817
I was able to access his podcast
called Infowars,
227
00:12:14,817 --> 00:12:19,947
and then the next day I wasn't.
This happened pretty regularly
228
00:12:19,947 --> 00:12:22,073
in conjunction
with a lot of kind of
229
00:12:22,073 --> 00:12:27,538
de-platforming of of other
social apps Twitter,
230
00:12:27,538 --> 00:12:30,832
Facebook, Instagram,
that sort of deal. And I suppose
231
00:12:30,832 --> 00:12:33,376
the main problem is that Apple
kind of broke this
232
00:12:33,376 --> 00:12:38,298
with like neutrality and that the
obviously it wasn't
233
00:12:38,298 --> 00:12:41,092
actually decentralised.
We weren't able, for me
234
00:12:41,092 --> 00:12:45,847
as an individual person to access
what I wanted to access. And so
235
00:12:45,847 --> 00:12:47,640
this is where
we can kind of see, okay,
236
00:12:47,640 --> 00:12:50,852
well this maybe the first step of
of things being not truly
237
00:12:50,852 --> 00:12:53,022
decentralised if,
if everything is going
238
00:12:53,022 --> 00:12:57,275
through Apple well and all of
these other apps are accessing
239
00:12:57,275 --> 00:13:01,238
the Apple index to find out
where are all the podcasts,
240
00:13:01,238 --> 00:13:05,326
you know, if they start to
say, no, this isn't on here,
241
00:13:05,326 --> 00:13:08,412
this isn't on here,
while we can say, okay, this,
242
00:13:08,412 --> 00:13:11,706
maybe it's not as decentralised
as we once thought it was,
243
00:13:11,706 --> 00:13:15,336
let's go on to the second factor
here, which was
244
00:13:15,336 --> 00:13:19,005
Self-Sovereign anti. Do you have
exclusive access over
245
00:13:19,005 --> 00:13:22,426
your content and what it is
that you're producing?
246
00:13:22,426 --> 00:13:25,386
Well, let's have a look
at YouTube for example.
247
00:13:25,386 --> 00:13:30,850
I can find podcasts on YouTube.
Yes you can in a sense.
248
00:13:30,850 --> 00:13:34,813
But do you iron out
you do have access to the
249
00:13:34,813 --> 00:13:37,482
to the rights to that.
Do you actually own it? Well,
250
00:13:37,482 --> 00:13:39,818
if you go on to the YouTube
terms of service,
251
00:13:39,818 --> 00:13:42,571
which I have up to here,
you can kind of see.
252
00:13:42,571 --> 00:13:45,490
No, not really.
So there's a section here
253
00:13:45,490 --> 00:13:51,455
talking about the license
to YouTube. So by providing
254
00:13:51,455 --> 00:13:53,916
content to the service
you grant to YouTube, a worldwide
255
00:13:53,916 --> 00:13:56,460
non-exclusive royalty
free sublicensable
256
00:13:56,460 --> 00:13:58,837
and transferable license
to use that content,
257
00:13:58,837 --> 00:14:01,423
including to reproduce,
distribute, prepare,
258
00:14:01,423 --> 00:14:03,759
derivative works,
display and perform it.
259
00:14:03,759 --> 00:14:06,886
So basically YouTube can do
whatever they want with it.
260
00:14:06,886 --> 00:14:08,514
They've got another section here
talking about
261
00:14:08,514 --> 00:14:10,807
the right to monetise
it, saying how
262
00:14:10,807 --> 00:14:13,059
they have the right
to put ads to do
263
00:14:13,059 --> 00:14:15,937
whatever they want
with your content and you don't
264
00:14:15,937 --> 00:14:18,274
actually have the right
to any money
265
00:14:18,274 --> 00:14:21,652
from that necessarily.
Now of course they
266
00:14:21,652 --> 00:14:25,614
they do pay out.
They do have a a platform
267
00:14:25,614 --> 00:14:29,534
which does allow creators
to, to monetise and get a portion
268
00:14:29,534 --> 00:14:32,078
of that. But you know,
they get to decide
269
00:14:32,078 --> 00:14:34,748
essentially what it is.
The most important
270
00:14:34,748 --> 00:14:37,458
portion of this is actually the
removing of content.
271
00:14:37,458 --> 00:14:41,672
And so if we go onto here
removal of content by YouTube,
272
00:14:41,672 --> 00:14:44,466
if we reasonably believe
that any of your content
273
00:14:44,466 --> 00:14:46,927
is in breach of the
of this agreement or may cause
274
00:14:46,927 --> 00:14:50,139
harm to YouTube, our users
or third parties, we reserve the
275
00:14:50,139 --> 00:14:52,057
right to remove
or take down that content
276
00:14:52,057 --> 00:14:56,437
in our discretion. So once again
with kind of seeing now is this
277
00:14:56,437 --> 00:14:59,523
really self-sovereign,
do you really have the right
278
00:14:59,523 --> 00:15:03,777
the ability to own and access
exclusively your thoughts,
279
00:15:03,777 --> 00:15:07,364
what you're saying, your ideas
and your speech? No, not really.
280
00:15:07,364 --> 00:15:10,909
YouTube has a pretty big portion
of this, a stronghold on
281
00:15:10,909 --> 00:15:14,871
what you can and can't say.
How have they been
282
00:15:14,871 --> 00:15:19,000
tyrannical in their in the
deciding of what is
283
00:15:19,000 --> 00:15:23,047
and isn't allowed?
It depends on who you ask. Sure,
284
00:15:23,047 --> 00:15:24,465
you're allowed
to kind of criticise
285
00:15:24,465 --> 00:15:27,216
YouTube if you want to
and there are many videos
286
00:15:27,216 --> 00:15:29,094
on YouTube doing that.
But then there's
287
00:15:29,094 --> 00:15:30,763
also a lot of stuff
which they've said,
288
00:15:30,763 --> 00:15:34,850
No, we feel this is not this is
causing harm
289
00:15:34,850 --> 00:15:36,894
to YouTube, our users
or third parties.
290
00:15:36,894 --> 00:15:39,562
So we're going to take this away,
which is very much different
291
00:15:39,562 --> 00:15:41,981
from the self sovereignty
of being able
292
00:15:41,981 --> 00:15:47,071
to host your own hardware
and have your own software,
293
00:15:47,071 --> 00:15:49,990
your own feed RSS feed
contained within that
294
00:15:49,990 --> 00:15:54,370
where you can own the full stack
you have control over, you know,
295
00:15:54,370 --> 00:15:57,246
your house, the hardware
within your house, the software
296
00:15:57,246 --> 00:16:00,833
that is in that and the content
that is getting distributed
297
00:16:00,833 --> 00:16:04,754
out to the world. So once again,
we can kind of say,
298
00:16:04,754 --> 00:16:09,092
well, you know, if YouTube is
hosting podcasts, no, it's not
299
00:16:09,092 --> 00:16:13,054
really satisfying the self
sovereignty aspect of of what
300
00:16:13,054 --> 00:16:16,225
I was talking about. Let's go on
to the third one,
301
00:16:16,225 --> 00:16:19,937
which was permissionless.
Anyone can access it.
302
00:16:19,937 --> 00:16:23,315
The definition of permissionless,
again, does not require
303
00:16:23,315 --> 00:16:27,152
someone else's content,
consent or authorisation.
304
00:16:27,152 --> 00:16:30,072
And let's have a little
look at Spotify. Well,
305
00:16:30,072 --> 00:16:32,783
what has Spotify
been doing over this last
306
00:16:32,783 --> 00:16:34,868
couple of years?
What they've been doing
307
00:16:34,868 --> 00:16:38,913
is hosting a lot of feeds
through their subsidiary service
308
00:16:38,913 --> 00:16:42,835
called Anchor. And if you are
an anchor user, what you will
309
00:16:42,835 --> 00:16:45,671
actually find is
you don't necessarily
310
00:16:45,671 --> 00:16:48,340
have an RSS feed.
You actually don't have
311
00:16:49,383 --> 00:16:51,884
this kind of
permissionless aspect for people
312
00:16:51,884 --> 00:16:55,806
to access your content
wherever they want. Know there is
313
00:16:55,806 --> 00:16:58,725
a gatekeeper. The gatekeeper
is now Spotify because they
314
00:16:58,725 --> 00:17:01,854
haven't allowed this RSS
to go out to the broader
315
00:17:01,854 --> 00:17:04,897
ecosystem.
So people can't find your
316
00:17:04,897 --> 00:17:10,362
your content on Apple, on
on YouTube or on any of these
317
00:17:10,362 --> 00:17:13,365
smaller apps pocket casts,
for example,
318
00:17:13,365 --> 00:17:15,951
because there's no RSS
feed, they own it.
319
00:17:15,951 --> 00:17:19,496
They are the gatekeeper, so it's
not permissionless. And we can
320
00:17:19,496 --> 00:17:22,665
really see this how they
they've done this with Joe Rogan
321
00:17:22,665 --> 00:17:26,711
so got his content and now
he agreed to that. So once again
322
00:17:26,711 --> 00:17:29,048
if you're agreeing to this,
that's totally fine.
323
00:17:29,048 --> 00:17:32,050
And as a company
they have the right to try
324
00:17:32,050 --> 00:17:35,511
and create exclusive shows and do
whatever they want.
325
00:17:36,596 --> 00:17:40,433
That's totally fine.
Is it a podcast? Yeah.
326
00:17:40,433 --> 00:17:42,810
Once again, you're kind of
saying that, no, it's
327
00:17:42,810 --> 00:17:44,354
not really becoming
permissionless.
328
00:17:44,354 --> 00:17:47,775
It's now it's becoming.
No, you have to access
329
00:17:47,775 --> 00:17:50,736
this content through one
exclusive service,
330
00:17:50,736 --> 00:17:54,615
this being Spotify. And it's not
just Spotify doing this.
331
00:17:54,615 --> 00:17:59,077
You can see YouTube trying to do
similar things. Apple is also
332
00:17:59,077 --> 00:18:02,538
trying to do similar things
with their subscription service.
333
00:18:02,538 --> 00:18:06,125
There's very much this aspect of
these kind of walled
334
00:18:06,125 --> 00:18:10,547
gardens coming in. Podcasting
was this open ecosystem.
335
00:18:10,547 --> 00:18:14,634
It was this beautiful place
where you could find content
336
00:18:14,634 --> 00:18:16,511
wherever you want.
If you didn't like this
337
00:18:16,511 --> 00:18:18,096
particular app,
if you couldn't find it
338
00:18:18,096 --> 00:18:20,140
there, well, you can go over
to this other one
339
00:18:20,140 --> 00:18:22,726
and you'll find it there.
And what we're actually seeing
340
00:18:22,726 --> 00:18:25,144
is this starting to be
this kind of closing off
341
00:18:25,144 --> 00:18:27,105
is sectioning off.
You can only find
342
00:18:27,105 --> 00:18:29,232
Joe Rogan on Spotify.
You can only find
343
00:18:29,232 --> 00:18:32,693
this thing on YouTube.
And I think this is kind of
344
00:18:32,693 --> 00:18:35,614
antithetical to
what podcasting is and should be.
345
00:18:35,614 --> 00:18:37,865
It is open,
it is free for everyone,
346
00:18:37,865 --> 00:18:41,619
and it's now developing
this kind of closed version,
347
00:18:41,619 --> 00:18:44,623
or at least that's the the
the trend that we've been
348
00:18:44,623 --> 00:18:46,375
seeing over
the last couple of years.
349
00:18:46,375 --> 00:18:50,753
And then finally, on the value
transfer aspect, this is where
350
00:18:50,753 --> 00:18:53,382
I'm going to talk a little bit
about advertising
351
00:18:53,382 --> 00:18:55,634
and what is the,
I suppose, main way
352
00:18:55,634 --> 00:18:59,471
that you will hear of podcasters
monetising their content
353
00:18:59,471 --> 00:19:03,267
is through advertising.
It's through getting sponsors
354
00:19:03,267 --> 00:19:06,353
coming on to their show
and they will do a host, Fred
355
00:19:06,353 --> 00:19:09,815
ad of, you know, I love this
sort of thing, blah, blah, blah.
356
00:19:09,815 --> 00:19:14,653
I use it every day or they will
might even have the more
357
00:19:14,862 --> 00:19:17,321
nastier ones which are dynamic
ad insertions.
358
00:19:17,321 --> 00:19:19,657
These are just random ads
placed in the middle
359
00:19:19,657 --> 00:19:22,536
of your content once again,
with your permission.
360
00:19:22,536 --> 00:19:26,080
But as the podcast host.
But we're looking
361
00:19:26,080 --> 00:19:28,791
at this kind of value transfer.
Is this actually improving,
362
00:19:28,791 --> 00:19:31,961
making the shows better?
I would probably say
363
00:19:31,961 --> 00:19:35,298
for 99% of advertising.
No, no, you're
364
00:19:35,298 --> 00:19:38,551
getting a random thing
not directed towards you,
365
00:19:38,551 --> 00:19:41,762
perhaps not applicable
to anything that you care about.
366
00:19:41,762 --> 00:19:44,098
And we can see some really
funny instances
367
00:19:44,098 --> 00:19:46,476
of this happening on.
I think it was like
368
00:19:46,476 --> 00:19:49,813
a children's show
and a wild turkey bourbon ad
369
00:19:49,813 --> 00:19:54,276
would appear in the middle of it
or it would be, you know, a
370
00:19:54,276 --> 00:19:57,613
typically gets into
political things and I'm not
371
00:19:57,613 --> 00:20:00,199
going to dive into that area.
But we can definitely see,
372
00:20:00,199 --> 00:20:03,535
okay, with
with especially dynamic
373
00:20:03,535 --> 00:20:07,122
ad insertions, it's not actually
making a better show.
374
00:20:07,122 --> 00:20:11,960
The value transfer is not
really becoming better arguable.
375
00:20:11,960 --> 00:20:14,086
I'll let that one slide
if people want to argue
376
00:20:14,086 --> 00:20:17,007
with me over that one
so we can kind of see,
377
00:20:17,007 --> 00:20:20,509
okay, there's that there's
some problems developing and it's
378
00:20:20,509 --> 00:20:24,765
podcasting is is changing away
from this open system
379
00:20:24,765 --> 00:20:28,477
to a closed one
or at least we saw some trends
380
00:20:28,477 --> 00:20:30,394
of this happening.
So what are we going to do?
381
00:20:30,394 --> 00:20:34,357
We're going to fix it. So this is
where podcasting 2.0 comes in
382
00:20:34,357 --> 00:20:37,568
and podcasting 2.0 is a community
of developers,
383
00:20:37,568 --> 00:20:40,029
of hosts, of podcasts
and listeners
384
00:20:40,029 --> 00:20:42,115
who all have one goal
and that is to
385
00:20:42,115 --> 00:20:44,242
improve podcasting.
Now, the funny thing
386
00:20:44,242 --> 00:20:46,662
about podcasting
is it's kind of been in a
387
00:20:46,662 --> 00:20:52,125
lag or a very stilted
swamp for a while.
388
00:20:52,125 --> 00:20:54,252
There was no innovations.
Nothing particularly
389
00:20:54,252 --> 00:20:57,713
new was happening for,
jeez, close to 15 years
390
00:20:57,713 --> 00:21:05,305
from when it was first created
that 2003 2004 era of time
391
00:21:05,305 --> 00:21:08,432
towards Apple getting into it.
And this is
392
00:21:08,432 --> 00:21:11,435
where the pod comes from
because it came from the iPod
393
00:21:11,435 --> 00:21:15,731
or that was where the audio files
were first, being really easily
394
00:21:15,731 --> 00:21:18,818
accessible by people
who were non nerds
395
00:21:18,818 --> 00:21:21,070
and just normal, everyday folks.
And they had
396
00:21:21,070 --> 00:21:22,614
an app on their phone.
They were like, Well,
397
00:21:22,614 --> 00:21:26,326
look at all this content.
Amazing. And it was kind of
398
00:21:26,326 --> 00:21:30,247
just stagnating a bit.
For example, why couldn't
399
00:21:30,247 --> 00:21:34,166
you just have a picture appear
on your screen? If you're talking
400
00:21:34,166 --> 00:21:37,045
about something, you see this
all the time with podcasters
401
00:21:37,045 --> 00:21:40,089
will hear it all the time.
They'll be talking about a graph,
402
00:21:40,089 --> 00:21:42,259
they'll be talking about
a funny photo, they'll be talking
403
00:21:42,259 --> 00:21:43,969
about something
and trying to describe
404
00:21:43,969 --> 00:21:47,346
it to their listeners.
This is great. This is what
405
00:21:47,346 --> 00:21:49,891
audio is for. But man, wouldn't
it just be awesome
406
00:21:49,891 --> 00:21:52,227
just to have the ability
to have that photo
407
00:21:52,227 --> 00:21:55,646
appear on the screen? But why?
Why wouldn't that be doable?
408
00:21:55,646 --> 00:21:58,775
That's not podcasting.
You can't you know, we can't have
409
00:21:58,775 --> 00:22:00,943
the innovations like that.
It is too hard.
410
00:22:00,943 --> 00:22:02,945
It's too difficult.
Would need this person
411
00:22:02,945 --> 00:22:05,574
to coordinate with this person
and this group to this group.
412
00:22:05,574 --> 00:22:07,784
And this is actually
where you can kind of see
413
00:22:07,784 --> 00:22:10,787
the decentralised nature of it
actually was a problem
414
00:22:10,787 --> 00:22:13,205
because you would need
the podcast hosts
415
00:22:13,205 --> 00:22:16,960
to agree with Apple, to agree
with the podcast apps
416
00:22:16,960 --> 00:22:21,464
that we're all going to support
this change to the format
417
00:22:21,464 --> 00:22:26,053
of podcasting of the RSS feed.
And it was very hard
418
00:22:26,053 --> 00:22:28,596
to coordinate those all,
all those sorts of things.
419
00:22:29,597 --> 00:22:34,728
So podcasting 2.0 was a
started by Adam Curry, who was
420
00:22:34,728 --> 00:22:36,771
incidentally enough,
the guy who helped
421
00:22:36,771 --> 00:22:39,816
to create podcasting, the very
original version. So he was
422
00:22:39,816 --> 00:22:46,030
a former deejay, MTV DJ,
so he was very much in the
423
00:22:46,030 --> 00:22:52,788
music slash video realm,
interested in digital
424
00:22:52,788 --> 00:22:54,830
content creation.
But that's kind of been
425
00:22:54,830 --> 00:22:58,794
his main shtick for forever.
And he helped focus
426
00:22:58,794 --> 00:23:01,755
and drive the developing
of the medium of podcasting.
427
00:23:01,755 --> 00:23:05,467
He was the one who was
suggesting with Dave,
428
00:23:05,467 --> 00:23:09,512
Dave Winer, the creator,
I guess the programmer
429
00:23:09,512 --> 00:23:13,057
who invented RSS and saying, Ah,
that wouldn't be great
430
00:23:13,057 --> 00:23:16,685
if we could put audio files
into into RSS and make that part
431
00:23:16,685 --> 00:23:20,315
of the standard.
And then he helped develop it
432
00:23:20,315 --> 00:23:23,484
through a show called the Daily
Source Code, which would help
433
00:23:23,484 --> 00:23:26,113
go on to help develop
the medium of allowing
434
00:23:26,113 --> 00:23:30,575
app developers to play with
different tags to to enable
435
00:23:31,576 --> 00:23:35,413
apps to access this audio and
to create all of these
436
00:23:35,413 --> 00:23:37,374
new things.
He's very much doing that
437
00:23:37,374 --> 00:23:39,125
at the moment with the show.
Funnily enough,
438
00:23:39,125 --> 00:23:43,046
called Podcasting 2.0,
where himself and another person
439
00:23:43,046 --> 00:23:45,589
called Dave Jones,
who is a sysadmin
440
00:23:45,589 --> 00:23:48,509
many, many years
experience of open source
441
00:23:48,509 --> 00:23:51,221
and database work
and the two of them
442
00:23:51,221 --> 00:23:56,559
have combined to create and help
create a new standard and to
443
00:23:56,559 --> 00:24:00,105
enable some of these features,
one of which I mentioned before,
444
00:24:00,105 --> 00:24:03,400
such as an image
appearing in your app.
445
00:24:03,400 --> 00:24:05,317
Why can't we have
all this new innovation,
446
00:24:05,317 --> 00:24:09,071
these new things going on? Well,
it was kind of this chicken
447
00:24:09,071 --> 00:24:11,866
and the egg scenario.
And so Adam just decided
448
00:24:11,866 --> 00:24:14,201
we're going to be the chicken
and we're going to lay some eggs.
449
00:24:14,201 --> 00:24:17,580
And these eggs are the new value,
the innovation that is
450
00:24:17,580 --> 00:24:20,166
occurring in podcasting.
So this is really getting
451
00:24:20,166 --> 00:24:22,461
into the heart
of podcasting to point to
452
00:24:22,461 --> 00:24:27,298
the future of podcasting.
What what is
453
00:24:27,298 --> 00:24:28,924
entailed within this? Well,
there's a couple
454
00:24:28,924 --> 00:24:32,261
of different things which I'll
try to explain here.
455
00:24:32,261 --> 00:24:34,388
The first of this
is the podcast index.
456
00:24:34,388 --> 00:24:37,683
This was the very first step,
and this was getting the
457
00:24:37,683 --> 00:24:40,186
kind of decentralisation
back into podcasting.
458
00:24:40,186 --> 00:24:45,525
So they created their own index,
which by their own words here,
459
00:24:45,525 --> 00:24:48,068
the podcast index is here
to preserve, protect
460
00:24:48,068 --> 00:24:50,739
and extend the open
independent podcast
461
00:24:50,739 --> 00:24:54,116
podcasting ecosystem. We do this
by enabling developers
462
00:24:54,116 --> 00:24:56,452
to have access to an open
categorised index
463
00:24:56,452 --> 00:24:58,622
that will always
be available for free.
464
00:24:58,622 --> 00:25:01,916
But any use so beautiful,
we have this index
465
00:25:01,916 --> 00:25:05,377
which now solves
that problem of Apple
466
00:25:05,377 --> 00:25:09,798
taking off shows and
and not allowing certain content.
467
00:25:09,798 --> 00:25:15,180
The index. They also have
some measures for it's not
468
00:25:15,180 --> 00:25:17,682
technically ingesting
every single thing,
469
00:25:17,682 --> 00:25:20,977
which is an audio
file in an RSS feed.
470
00:25:20,977 --> 00:25:22,811
They do have a couple
of limits in place
471
00:25:22,811 --> 00:25:26,775
such as it needs to have
more than one episode.
472
00:25:26,775 --> 00:25:29,318
It needs to be more
than a certain amount of time.
473
00:25:29,318 --> 00:25:31,695
It needs to be someone
not just going to test,
474
00:25:31,695 --> 00:25:34,115
test, test into a microphone
because they're
475
00:25:34,115 --> 00:25:37,451
trying out a podcast
for the first time on something
476
00:25:37,451 --> 00:25:40,872
like Anchor, which typically
draws in a lot of
477
00:25:40,872 --> 00:25:42,915
kind of trashy people
just testing it out
478
00:25:42,915 --> 00:25:45,251
for the first time,
not nothing of of
479
00:25:45,251 --> 00:25:50,923
actual real value there now to
to kind of foster the creativity.
480
00:25:50,923 --> 00:25:53,468
So they started the index
and now awesome. We've got
481
00:25:53,468 --> 00:25:57,846
a beautiful point
where developers can have a more
482
00:25:57,846 --> 00:26:00,349
another source of truth.
Where are all the podcasts?
483
00:26:00,349 --> 00:26:02,434
Where can we find
these different things?
484
00:26:02,434 --> 00:26:04,895
And they also
developed a namespace
485
00:26:04,895 --> 00:26:08,775
which was to foster creativity
and open input. So a namespace
486
00:26:08,775 --> 00:26:11,152
is essentially
just saying, Here's a group
487
00:26:11,152 --> 00:26:15,824
of rules of definitions
of standards as to
488
00:26:15,824 --> 00:26:20,619
what you can do with an RSS feed.
And this basically means
489
00:26:20,619 --> 00:26:24,833
what are some rules that if I put
in some images or if I put in
490
00:26:24,833 --> 00:26:29,421
some extra links or some texts,
that's other podcasting apps
491
00:26:29,421 --> 00:26:32,048
who are developing new stuff
and new innovative
492
00:26:32,048 --> 00:26:34,925
ideas can look at
and they'll be just a
493
00:26:34,925 --> 00:26:37,721
formal language,
I suppose you can make
494
00:26:37,721 --> 00:26:40,765
basically imagine it as like
with my abbreviations
495
00:26:40,765 --> 00:26:45,478
right at the start.
It's a way of saying, okay, P 2.0
496
00:26:45,478 --> 00:26:49,691
that means podcasting 2.0 V For V
that means value for value
497
00:26:49,691 --> 00:26:51,984
and just having a set
of definitions of standard
498
00:26:51,984 --> 00:26:55,529
so that people looking at an RSS
feed can say, okay,
499
00:26:55,529 --> 00:26:58,115
I know how to, I know
what to do with this, I know how
500
00:26:58,115 --> 00:27:01,786
I can show this in my app
and create some cool new features
501
00:27:01,786 --> 00:27:07,125
which gets us onto the tags.
A.K.A the features. So podcasting
502
00:27:07,125 --> 00:27:10,002
2.0 was started,
I believe in 2020
503
00:27:10,002 --> 00:27:14,007
and so this was yeah,
roughly three years ago.
504
00:27:14,007 --> 00:27:16,843
What have they done since then?
Well, there have been
505
00:27:16,843 --> 00:27:21,181
25 formalised tags.
So once again, these are features
506
00:27:21,181 --> 00:27:23,892
in roughly two and a half years
since they
507
00:27:23,892 --> 00:27:27,394
started formalising them.
And so what are some of these
508
00:27:27,394 --> 00:27:30,065
cool new features?
While one is the lit tag,
509
00:27:30,065 --> 00:27:33,942
the live item tag,
which means that as a podcaster
510
00:27:33,942 --> 00:27:36,738
I can choose to go live.
And there's a way now
511
00:27:36,738 --> 00:27:41,076
for podcasting apps to see.
Oh, Curran's live. We can show
512
00:27:41,076 --> 00:27:43,662
this in our app and have a
live experience
513
00:27:43,662 --> 00:27:47,749
much like you will see on YouTube
or live broadcasts. There is a
514
00:27:47,749 --> 00:27:50,376
a demand, a thirst for this.
People actually enjoy
515
00:27:50,376 --> 00:27:53,003
listening to things live
because it is in the moment
516
00:27:53,003 --> 00:27:57,008
happens right then we also have
something like the chapters
517
00:27:57,008 --> 00:27:59,678
and so this is being able
to see timestamps
518
00:27:59,678 --> 00:28:03,890
so if I wanted to and I do,
I always put in chapters
519
00:28:03,890 --> 00:28:07,477
into to my podcast. So if you're
not interested
520
00:28:07,477 --> 00:28:10,814
in a certain section,
you can have a brief glimpse,
521
00:28:10,814 --> 00:28:13,107
a summary and go, Oh,
you know, midway through
522
00:28:13,107 --> 00:28:14,942
that looks like
an interesting point.
523
00:28:14,942 --> 00:28:19,029
Click on that and you get taken
to right there with this.
524
00:28:19,029 --> 00:28:21,199
You can also have
an image associated
525
00:28:21,199 --> 00:28:23,201
with that chapter.
So you will be hearing me
526
00:28:23,201 --> 00:28:26,078
talk about some graphs later on
and I'll be directing
527
00:28:26,078 --> 00:28:28,373
you to, hey, go to an app
where you can actually
528
00:28:28,373 --> 00:28:29,874
see this image
because it will help
529
00:28:29,874 --> 00:28:31,835
you understand
what I'm talking about.
530
00:28:31,835 --> 00:28:34,045
You can also have a link
in that section.
531
00:28:34,045 --> 00:28:37,423
Another common thing you'll hear
podcast is saying are
532
00:28:37,423 --> 00:28:39,675
links in the show notes.
When you have five
533
00:28:39,675 --> 00:28:42,761
different links,
where do you put them?
534
00:28:42,761 --> 00:28:45,265
How does someone know
which one to go to? Whereas
535
00:28:45,265 --> 00:28:48,058
if you're saying that
and you actually have the link
536
00:28:48,058 --> 00:28:51,104
appearing on the screen
or associated with a chapter,
537
00:28:51,104 --> 00:28:54,148
it's much more easy
to go, Oh, okay. As the listener.
538
00:28:54,148 --> 00:28:56,108
Beautiful. I know what's
going on here.
539
00:28:56,108 --> 00:29:00,404
I know how I can tap ingest this.
I know how I can do
540
00:29:00,404 --> 00:29:02,030
something with the section.
So it's not just
541
00:29:02,030 --> 00:29:05,910
kind of a pointless
throwaway thing.
542
00:29:05,910 --> 00:29:08,203
We also have something
like the transcript tag.
543
00:29:08,203 --> 00:29:11,833
Great for accessibility.
So if you are hard of hearing
544
00:29:11,833 --> 00:29:15,336
and you want to see the words
appearing on your screen
545
00:29:15,336 --> 00:29:17,255
as you're listening to
your podcasts,
546
00:29:17,255 --> 00:29:20,759
you can do this now.
This is doable. And this was just
547
00:29:20,759 --> 00:29:23,010
one of those things where it's
such an obvious,
548
00:29:23,010 --> 00:29:27,182
blindingly easy thing,
but for 15 years it wasn't done.
549
00:29:27,182 --> 00:29:31,478
What are we doing? You know?
So it's really amazing to
550
00:29:31,478 --> 00:29:33,395
to have that. It's also great
for search.
551
00:29:33,395 --> 00:29:36,482
So if someone was coming
to the mere mortals
552
00:29:36,482 --> 00:29:38,442
and I was talking
about an old episode
553
00:29:38,442 --> 00:29:40,361
or I was talking about
a particular thing in a
554
00:29:40,361 --> 00:29:44,281
in a in an episode, they could
go, okay, yeah,
555
00:29:44,281 --> 00:29:47,535
Adam Curry mentioned him.
Where was that in the episode?
556
00:29:47,535 --> 00:29:49,913
I want to replay
that to my friend. They can click
557
00:29:49,913 --> 00:29:52,539
on the transcript type
in Adam Curry, then it'll
558
00:29:52,539 --> 00:29:57,670
show up instantly. So once again,
it's just an easy feature
559
00:29:57,670 --> 00:30:00,423
which is so useful to have.
It is something
560
00:30:00,423 --> 00:30:04,426
that's been cried out
for for ages and nothing
561
00:30:04,426 --> 00:30:08,306
was done about it. The final one,
which is well, not the final one.
562
00:30:08,306 --> 00:30:11,308
Another example is the value tag,
which I will be
563
00:30:11,308 --> 00:30:16,355
getting on to soon
add, which is talking about how
564
00:30:16,355 --> 00:30:20,943
we can now have the ability
in the RSS in the podcast, me
565
00:30:20,943 --> 00:30:24,696
as a podcast host
to direct people to help
566
00:30:24,696 --> 00:30:28,034
to how they can help support me
directly,
567
00:30:28,034 --> 00:30:31,287
financially, monetarily,
within their actual app
568
00:30:31,287 --> 00:30:32,955
without having to jump
through the five
569
00:30:32,955 --> 00:30:35,916
different hoops of
go to this website, you know,
570
00:30:35,916 --> 00:30:39,546
activate PayPal on this
to try and send this to here,
571
00:30:39,546 --> 00:30:42,548
go to this subscription service
and subscribe here,
572
00:30:42,548 --> 00:30:45,676
go to this paywall and choose
one of the options there
573
00:30:45,676 --> 00:30:47,345
and then you'll
be able to get you know,
574
00:30:47,345 --> 00:30:50,640
it's it's just so much easier,
so much better.
575
00:30:50,640 --> 00:30:53,476
And we'll be getting on
to the value tag shortly.
576
00:30:54,769 --> 00:30:57,438
What else have they
helped to sponsor? Well, now
577
00:30:57,438 --> 00:31:00,191
there are more than 40
different apps which support
578
00:31:00,191 --> 00:31:03,944
the name space, i.e. they support
at least one of these
579
00:31:03,944 --> 00:31:05,738
different tags.
And there are several
580
00:31:05,738 --> 00:31:09,741
podcasting apps which have gone
the full gamut and basically
581
00:31:09,741 --> 00:31:12,412
almost on top
of every single change.
582
00:31:12,412 --> 00:31:16,415
And so you can see that
there are apps which whilst
583
00:31:16,415 --> 00:31:19,751
they might not have the, the name
branding of an Apple
584
00:31:19,751 --> 00:31:22,755
or a Spotify, I believe
they actually have features
585
00:31:22,755 --> 00:31:26,217
which are much, much better
and which
586
00:31:26,217 --> 00:31:28,553
allow you as the listener
to have a better
587
00:31:28,553 --> 00:31:30,846
listening experience
to actually dive into it
588
00:31:30,846 --> 00:31:34,392
or as the podcast to provide
more value to your listeners
589
00:31:34,392 --> 00:31:38,645
so you can put in extra effort.
Otherwise you're kind of just
590
00:31:38,645 --> 00:31:42,066
creating audio and sure,
you can shorten it up,
591
00:31:42,066 --> 00:31:43,567
you can chop it up,
you can get different
592
00:31:43,567 --> 00:31:47,238
guests on and whatnot, but you've
you're very restricted in terms
593
00:31:47,238 --> 00:31:51,284
of having those extra features
which can help your audience.
594
00:31:51,284 --> 00:31:53,493
If you are, say,
a financial podcast
595
00:31:53,493 --> 00:31:57,039
and looking at graphs at all
the time, or you are a podcast
596
00:31:57,039 --> 00:32:00,585
which wants to acknowledge
the different guests and hosts
597
00:32:00,585 --> 00:32:02,295
that you have on,
you can now do that
598
00:32:02,295 --> 00:32:05,213
with the person tag. So there's
lots of really, really cool
599
00:32:05,213 --> 00:32:07,424
things going on
and basically it's
600
00:32:07,424 --> 00:32:11,261
allowing for connectivity
between podcasters and listeners,
601
00:32:11,261 --> 00:32:15,432
a more easy access
between the two of them
602
00:32:15,432 --> 00:32:17,809
so that the podcaster
and the listener aren't
603
00:32:17,809 --> 00:32:21,772
in this kind of black box,
which you can find yourself in
604
00:32:21,772 --> 00:32:23,523
where you're creating things
and you're not sure
605
00:32:23,523 --> 00:32:26,443
if anyone's listening or you're
responding to things
606
00:32:26,443 --> 00:32:28,363
as the listener
and you're not sure that message
607
00:32:28,363 --> 00:32:29,696
is getting through
to the podcast.
608
00:32:29,696 --> 00:32:32,951
Host Very, very common
problem in podcasting.
609
00:32:34,117 --> 00:32:38,830
Let's get on to value for value.
And my explanation of this,
610
00:32:38,830 --> 00:32:43,086
which is it's really simple
but complex in the nuances.
611
00:32:43,086 --> 00:32:46,964
So I've actually done
a full new podcast
612
00:32:46,964 --> 00:32:49,174
called Value for Value.
If you type that in into
613
00:32:49,174 --> 00:32:50,593
your podcast app,
you'll find that
614
00:32:50,593 --> 00:32:54,096
and there's two seasons,
roughly about 36 episodes
615
00:32:54,096 --> 00:32:57,976
which go into the nuances.
But right here I would just say
616
00:32:57,976 --> 00:33:02,480
it's basically a trade of value
to form a circular economy
617
00:33:02,480 --> 00:33:06,275
is basically what it is.
So I create value, i.e.
618
00:33:06,275 --> 00:33:09,194
this digital content,
this audio or video,
619
00:33:09,194 --> 00:33:11,029
because I also put
this on YouTube
620
00:33:11,029 --> 00:33:15,159
and I just ask, Hey,
here it is, free upfront,
621
00:33:15,159 --> 00:33:18,246
you can ingested
as much as you want, you know,
622
00:33:18,246 --> 00:33:21,874
welcome your and enjoy it
as much as you want. All I ask
623
00:33:21,874 --> 00:33:24,376
is that you return some value
back to me now.
624
00:33:24,376 --> 00:33:28,131
Value is very subjective
and it can be varied.
625
00:33:28,131 --> 00:33:33,428
Adam Curry once again coming in,
who was the pioneer of this value
626
00:33:33,428 --> 00:33:37,306
for value model, i.e.
a model which is suited
627
00:33:37,306 --> 00:33:40,351
primarily for digital
content creators.
628
00:33:40,351 --> 00:33:43,479
And he likes to say
the three TS of time
629
00:33:43,479 --> 00:33:46,816
talent and treasure.
So you have time. You could share
630
00:33:46,816 --> 00:33:51,112
this episode with a friend.
You could spend the time
631
00:33:51,112 --> 00:33:54,406
to explain some of the content
concepts in here.
632
00:33:54,406 --> 00:33:58,744
You can do many things
which don't require a real active
633
00:33:58,744 --> 00:34:02,914
effort on your part
to to do something to, to really,
634
00:34:02,914 --> 00:34:06,126
really go out of your way
and either spend money
635
00:34:06,126 --> 00:34:09,380
or anything like that.
There is talent. So if I say
636
00:34:09,380 --> 00:34:12,592
something wrong, if I have got
the history wrong, if I put it in
637
00:34:12,592 --> 00:34:15,969
a wrong note, if you are
an audio engineer
638
00:34:15,969 --> 00:34:19,724
and you hear a car
and could improve the podcast
639
00:34:19,724 --> 00:34:23,268
by putting more sound panels,
I definitely could,
640
00:34:23,268 --> 00:34:27,273
then you can help provide
that talent back
641
00:34:27,273 --> 00:34:31,027
and you can see for no agenda
that Adam Curry is mean.
642
00:34:31,027 --> 00:34:34,237
Show that.
They have a full website,
643
00:34:34,237 --> 00:34:36,865
they have a store,
they have people helping out
644
00:34:36,865 --> 00:34:40,994
in a myriad of different ways
because this show is rather large
645
00:34:40,994 --> 00:34:44,498
and people like to help out.
And so we can see, okay,
646
00:34:44,498 --> 00:34:46,541
there are people
who are very talented
647
00:34:46,541 --> 00:34:48,585
in something
which I'm not talented.
648
00:34:48,585 --> 00:34:51,755
Let's just talk about
creating artwork, for example,
649
00:34:51,755 --> 00:34:56,469
and if I had an audience member
who didn't want to support in a
650
00:34:56,469 --> 00:34:58,137
monetary form,
they could support me
651
00:34:58,137 --> 00:35:01,681
by sending an artwork and helping
to provide value.
652
00:35:01,681 --> 00:35:04,268
That way. Amazing.
And then finally,
653
00:35:04,268 --> 00:35:07,146
of course, treasure that is
supporting monetarily.
654
00:35:07,146 --> 00:35:10,565
We all have to acknowledge
this is a world where Fiat
655
00:35:10,565 --> 00:35:13,693
dominates, where
the the needs of reality
656
00:35:13,693 --> 00:35:17,030
very much dominate us.
And so we do need to eat,
657
00:35:17,030 --> 00:35:20,367
we do need to sleep somewhere.
We do need to have access
658
00:35:20,367 --> 00:35:23,121
to services. And all of this
requires money.
659
00:35:23,121 --> 00:35:25,831
So money is very much
an important part of this,
660
00:35:25,831 --> 00:35:30,085
the treasure part.
And so being able to get direct
661
00:35:30,085 --> 00:35:33,588
contributions from your audience
because maybe that time for
662
00:35:33,588 --> 00:35:36,175
maybe they don't have a talent
which is really suited
663
00:35:36,175 --> 00:35:38,094
for your show,
but maybe they're rich
664
00:35:38,094 --> 00:35:39,887
and so they can just
help support your show.
665
00:35:39,887 --> 00:35:43,349
Or maybe they are also,
you know, time poor,
666
00:35:43,349 --> 00:35:46,059
maybe they're not even rich,
but they still want to contribute
667
00:35:46,059 --> 00:35:48,521
in some way.
This is what the value
668
00:35:48,521 --> 00:35:52,775
for value model emphasise is
if you get value from this,
669
00:35:52,775 --> 00:35:54,693
I just offset your return
and that value
670
00:35:54,693 --> 00:35:56,737
is completely subjective.
You can choose
671
00:35:56,737 --> 00:35:59,990
how much or how little
that you want to give back.
672
00:35:59,990 --> 00:36:03,494
Now, all of this is roughly
opposed to, I suppose,
673
00:36:03,494 --> 00:36:08,039
advertising to sponsorship
to payables or VC
674
00:36:08,039 --> 00:36:11,043
venture capital funding,
but it's not necessary
675
00:36:11,043 --> 00:36:13,753
really exclusive
against this, i.e.
676
00:36:13,753 --> 00:36:16,340
if you want to run advertising in
your podcast,
677
00:36:16,340 --> 00:36:19,467
you can still do that
and also do the value
678
00:36:19,467 --> 00:36:22,722
for value model at the same time.
A great example of
679
00:36:22,722 --> 00:36:25,724
this is Chris Fisher
with many of his Jupiter
680
00:36:25,724 --> 00:36:28,643
Broadcasting shows
these being things like
681
00:36:28,643 --> 00:36:36,110
Linux Unplugged of Bitcoin, dad
of Linux action, news
682
00:36:36,110 --> 00:36:39,487
of Code of Radio,
all of these shows
683
00:36:39,487 --> 00:36:41,657
or almost all of them,
he has a sponsor,
684
00:36:41,657 --> 00:36:44,952
but he also does value for value.
At the same time,
685
00:36:44,952 --> 00:36:49,414
it 100% can work together.
What works most effectively
686
00:36:49,414 --> 00:36:52,418
is actually typically
when you go all in
687
00:36:52,418 --> 00:36:57,130
for value, for value
because you can emphasise the,
688
00:36:57,130 --> 00:37:00,675
the benefits of, of having an
exclusive of show
689
00:37:00,675 --> 00:37:03,512
which doesn't have.
And when I say exclusive,
690
00:37:03,512 --> 00:37:05,889
I mean I show you
which relies solely
691
00:37:05,889 --> 00:37:08,309
upon listener support
and you don't have
692
00:37:08,309 --> 00:37:12,646
any undue influences
from advertisers or sponsors.
693
00:37:12,646 --> 00:37:15,398
And this is where
you'll see things like the recent
694
00:37:15,398 --> 00:37:18,610
FTC's collapse,
where many people had
695
00:37:18,610 --> 00:37:21,822
sponsors of X on this show,
and even if they had
696
00:37:21,822 --> 00:37:24,699
any misgivings about the service,
of course
697
00:37:24,699 --> 00:37:26,452
they're not going to say
anything about it because they're
698
00:37:26,452 --> 00:37:29,789
receiving money from it.
We go on to value
699
00:37:29,789 --> 00:37:32,625
for value dot info,
which is a great website
700
00:37:32,625 --> 00:37:35,418
for learning a more
about the value for value model.
701
00:37:35,418 --> 00:37:38,838
In the section
labelled monetisation model,
702
00:37:38,838 --> 00:37:42,842
we can kind of see how it flips
the script as compared
703
00:37:42,842 --> 00:37:45,346
to those things I just mentioned.
Putting a paywall
704
00:37:45,346 --> 00:37:48,391
in front of your content
like Patron does of having
705
00:37:48,391 --> 00:37:52,686
a subscription where you can only
access the content if you pay
706
00:37:52,686 --> 00:37:55,690
a certain amount per month
like you can find
707
00:37:55,690 --> 00:37:58,358
in Apple subscriptions
of having advertising
708
00:37:58,358 --> 00:38:01,945
on your show where yes,
you're unlikely to say bad things
709
00:38:01,945 --> 00:38:06,117
about this sponsor
or the dynamically inserted ads
710
00:38:06,117 --> 00:38:10,579
which are just by and large awful
jumping into the
711
00:38:10,579 --> 00:38:13,206
middle of a show.
Just imagine a TV show,
712
00:38:13,206 --> 00:38:16,543
but without the cliff-hanger
at the end before the ad,
713
00:38:16,543 --> 00:38:18,753
it just jump
straight into something.
714
00:38:18,753 --> 00:38:21,590
A lot of it's awful
anyway, going on to
715
00:38:21,590 --> 00:38:25,344
the value for value.
So this is value the number four
716
00:38:25,344 --> 00:38:29,097
and then value dot info.
We can see here where
717
00:38:29,097 --> 00:38:31,266
we're trying to get at.
What's the difference
718
00:38:31,266 --> 00:38:34,061
between a payment
made through value for value
719
00:38:34,061 --> 00:38:36,813
and one which is made through
perhaps any of these
720
00:38:36,813 --> 00:38:40,818
other mediums. And so we go,
uh, let's get one thing
721
00:38:40,818 --> 00:38:42,445
out of the way.
Monetising non scarce
722
00:38:42,445 --> 00:38:45,155
information is difficult.
The default monetisation
723
00:38:45,155 --> 00:38:47,282
model of the online
world is advertisement
724
00:38:47,282 --> 00:38:49,284
a model that relies
heavily on surveillance
725
00:38:49,284 --> 00:38:53,121
and game able analytics
before the offers an alternative.
726
00:38:53,121 --> 00:38:55,123
Selling information
outright doesn't work.
727
00:38:55,123 --> 00:38:57,460
Selling bits
and bytes on a per item
728
00:38:57,460 --> 00:39:01,047
basis is nonsensical. Since
and bytes are non scarce,
729
00:39:01,047 --> 00:39:04,300
they can be replicated
ad infinitum. So this is
730
00:39:04,300 --> 00:39:06,969
why we see it's really related
to digital content
731
00:39:06,969 --> 00:39:10,306
and not something
like producing a mouse
732
00:39:10,306 --> 00:39:12,557
or a water bottle
or something like that.
733
00:39:12,557 --> 00:39:14,893
No, this is a
non scarce resource.
734
00:39:14,893 --> 00:39:19,273
Anyone can access it
for the marginal cost of 0.0,
735
00:39:19,273 --> 00:39:22,902
you know, whatever. I don't know.
A couple of watts of volts of
736
00:39:22,902 --> 00:39:26,197
electricity is the voice for
the model flips
737
00:39:26,197 --> 00:39:28,865
monetisation on its head.
It leads with abundance.
738
00:39:28,865 --> 00:39:31,534
Information is set free,
no artificial barriers
739
00:39:31,534 --> 00:39:33,746
or restrictions
are added to the content,
740
00:39:33,746 --> 00:39:37,375
whether it is audio, video, text
or something else. The value is
741
00:39:37,375 --> 00:39:39,126
given away freely
and those who find
742
00:39:39,126 --> 00:39:41,961
the information valuable
are asked to give back.
743
00:39:41,961 --> 00:39:44,465
The main difference between a
conventional transaction
744
00:39:44,465 --> 00:39:47,592
and a B for V transaction
is that a V for the transaction
745
00:39:47,592 --> 00:39:52,014
is voluntary unlimited and direct
V for the allows value
746
00:39:52,014 --> 00:39:54,641
and information to flow freely
without restrictions
747
00:39:54,641 --> 00:39:57,103
and without middlemen. It is a
different approach
748
00:39:57,103 --> 00:39:59,646
to monetising bits
and bytes online as well
749
00:39:59,646 --> 00:40:02,775
as a different approach
to creating content and value.
750
00:40:02,775 --> 00:40:04,985
People will give whatever
it is worth to them.
751
00:40:04,985 --> 00:40:06,987
Some might give the
equivalent of $1,
752
00:40:06,987 --> 00:40:10,574
some will give 50
and some will give 500 or more.
753
00:40:10,574 --> 00:40:12,701
So we can really see here.
Okay, the value for value
754
00:40:12,701 --> 00:40:16,956
model is is really
it's really about it's a it's
755
00:40:16,956 --> 00:40:18,998
a kind of a mindset.
It's almost a lifestyle.
756
00:40:18,998 --> 00:40:21,043
You do have to be
a lot more comfortable
757
00:40:21,043 --> 00:40:23,503
with not having
agreements in place
758
00:40:23,503 --> 00:40:27,132
between you and a sponsor
or having more certainty
759
00:40:27,132 --> 00:40:29,300
of how much revenue
you're going to be making
760
00:40:29,300 --> 00:40:33,304
per month with. And, you know,
I've got this many people
761
00:40:33,304 --> 00:40:36,099
subscribing to
to this level of support.
762
00:40:36,099 --> 00:40:38,226
Okay, I can roughly know
this now. It's it's
763
00:40:38,226 --> 00:40:42,148
much more based on
how how you provide value
764
00:40:42,148 --> 00:40:46,610
how how your listeners
receive that. And then also in
765
00:40:46,610 --> 00:40:49,447
the asking of value
and giving it back and forth.
766
00:40:49,447 --> 00:40:53,742
So we do have this
this kind of model. Okay.
767
00:40:53,742 --> 00:40:56,996
How does this link up with what
I was talking before and related
768
00:40:56,996 --> 00:40:59,414
to those for properties,
decentralisation,
769
00:40:59,414 --> 00:41:01,208
self-sovereign, anti
permissionless
770
00:41:01,208 --> 00:41:06,672
and value transfer? Well it does.
So we see decentralisation.
771
00:41:06,672 --> 00:41:09,257
I can talk about this for myself,
we are supported
772
00:41:09,257 --> 00:41:13,387
by multiple people, find out
who find us via multiple apps
773
00:41:13,387 --> 00:41:15,931
and are supported
in multiple ways. It is not
774
00:41:15,931 --> 00:41:18,224
strictly monetarily.
We have people
775
00:41:18,224 --> 00:41:21,353
who have contributed
some really great things.
776
00:41:21,353 --> 00:41:23,981
For example, a piece of software
which I use
777
00:41:23,981 --> 00:41:28,027
to help create my app.
The chapter mark is
778
00:41:28,027 --> 00:41:29,652
it was something
I couldn't do myself.
779
00:41:29,652 --> 00:41:33,699
I had to listen to Peter,
who very much sent in
780
00:41:33,699 --> 00:41:36,159
in particular. It wasn't
super, super
781
00:41:36,159 --> 00:41:38,954
complicated software,
it was an Excel sheet,
782
00:41:38,954 --> 00:41:41,164
but it had some things
in it, some formatting,
783
00:41:41,164 --> 00:41:44,168
which I didn't know how to do.
He managed to do that amazingly,
784
00:41:45,460 --> 00:41:47,880
so we can see that.
I guess the content
785
00:41:47,880 --> 00:41:50,340
is the source of truth
in this case. So it's,
786
00:41:50,340 --> 00:41:54,052
it's decentralised
to how people respond,
787
00:41:54,052 --> 00:41:56,764
how people give value back.
But the source of truth
788
00:41:56,764 --> 00:41:59,766
is always going to be me
and how I ask for that,
789
00:41:59,766 --> 00:42:02,978
how do I ask for
self sovereignty?
790
00:42:02,978 --> 00:42:06,065
I control the ask. I can say,
Hey, I really
791
00:42:06,065 --> 00:42:08,608
want you to support me
via this method.
792
00:42:08,608 --> 00:42:12,487
And that method could be
by attending a live event
793
00:42:12,487 --> 00:42:15,657
that perhaps I'm creating up.
It could be via one of the
794
00:42:15,657 --> 00:42:19,036
payment mechanisms
I really enjoy. It could be by
795
00:42:19,036 --> 00:42:23,373
sending in particular, you know,
pieces of content
796
00:42:23,373 --> 00:42:26,126
or digital photos or things
for an ad contest,
797
00:42:26,126 --> 00:42:29,463
which I want to display.
It could be by referring me on
798
00:42:29,463 --> 00:42:31,590
to certain guests, Hey,
I'm looking for a
799
00:42:31,590 --> 00:42:34,342
guest of this type. Does anyone
in my audience know this?
800
00:42:34,342 --> 00:42:37,554
So I control the ask.
I really get to decide
801
00:42:37,554 --> 00:42:40,516
what I ask for. And then you
as a listener, you get to decide
802
00:42:40,516 --> 00:42:43,686
what value you want
to provide back. There are
803
00:42:43,686 --> 00:42:47,063
plenty of things which you could
perhaps know, which I don't know,
804
00:42:47,063 --> 00:42:49,108
and you can say,
okay, here's some value
805
00:42:49,108 --> 00:42:52,027
in this format.
Or if we're talking
806
00:42:52,027 --> 00:42:56,322
about the monetary terms,
I'm going to give 5000 bucks.
807
00:42:56,322 --> 00:42:58,492
I really enjoy it. You know, I'm
a billionaire.
808
00:42:58,492 --> 00:43:01,161
I've really enjoyed this.
What I was listening to here,
809
00:43:01,161 --> 00:43:03,789
I've enjoyed this show for a fair
while. You know,
810
00:43:03,789 --> 00:43:06,791
that's nothing to them.
And that could mean
811
00:43:06,791 --> 00:43:09,753
the whole world to me.
So we can really see,
812
00:43:09,753 --> 00:43:12,880
okay, there's
there's very much this
813
00:43:12,880 --> 00:43:15,425
self sovereignty aspect,
both for myself
814
00:43:15,425 --> 00:43:18,512
and then also for the
for the listener at home.
815
00:43:18,512 --> 00:43:21,097
Permissionless.
There's no gatekeepers between me
816
00:43:21,097 --> 00:43:25,268
and my audience. Now, this is a
more difficult one to explain
817
00:43:25,268 --> 00:43:28,646
because it involves censorship
and this sort of soft and hard
818
00:43:28,646 --> 00:43:32,025
forms of this. The soft form
is more what I
819
00:43:32,025 --> 00:43:36,905
was describing before.
This is where I have a sponsor
820
00:43:36,905 --> 00:43:39,824
or someone who I'm trying
to keep copy, and they can
821
00:43:39,824 --> 00:43:43,954
they can kind of be like, well,
you know, this news that came out
822
00:43:43,954 --> 00:43:46,873
about us recently,
we don't really want you
823
00:43:46,873 --> 00:43:49,293
to talk about that.
That's it doesn't charge us
824
00:43:49,293 --> 00:43:52,588
in a favourable light. I'd prefer
you not talk about that.
825
00:43:52,588 --> 00:43:54,757
You know, as as me,
as the podcaster, and
826
00:43:54,757 --> 00:43:57,675
especially if I'm receiving money
from them, the obvious
827
00:43:57,675 --> 00:44:01,554
answer is yes. Okay, I won't.
I won't talk about that.
828
00:44:01,554 --> 00:44:05,559
We can also have
these more hard forms, which is,
829
00:44:05,559 --> 00:44:08,728
I suppose this is where it's
getting to you.
830
00:44:08,728 --> 00:44:11,731
Don't say about us.
You can have stipulations
831
00:44:11,731 --> 00:44:15,443
in the contract saying,
Nope, we're we're not
832
00:44:15,443 --> 00:44:19,239
going to allow you to
to talk about this certain topic.
833
00:44:19,239 --> 00:44:22,867
If you talk about it, you know,
contract gets terminated
834
00:44:22,867 --> 00:44:28,123
and another soft form
is, is kind of me feeling, oh,
835
00:44:28,123 --> 00:44:29,708
they're probably
not going to want me
836
00:44:29,708 --> 00:44:31,918
to talk about it. I'll maybe
just watch my words.
837
00:44:31,918 --> 00:44:35,005
In this case, I may be just
yeah, I'm
838
00:44:35,005 --> 00:44:37,800
I might not just say this
so we can really see this
839
00:44:37,800 --> 00:44:42,554
with the kind of gatekeepers.
They are the ones who.
840
00:44:42,887 --> 00:44:46,391
That there's no gatekeepers.
There's no middlemen between me.
841
00:44:46,391 --> 00:44:49,561
Like I was saying in here
before, the allows value
842
00:44:49,561 --> 00:44:51,521
in information
of free flow freely
843
00:44:51,521 --> 00:44:55,025
without restrictions
and without middlemen. So this
844
00:44:55,025 --> 00:44:57,402
this kind of aspect of middlemen
is a tricky one.
845
00:44:57,402 --> 00:44:59,487
And I'll be talking
a lot more about this
846
00:44:59,487 --> 00:45:02,407
in the in the value
tag when I get onto that.
847
00:45:03,909 --> 00:45:06,286
The last aspect here,
value transfer.
848
00:45:06,286 --> 00:45:09,914
So how does the V4,
the model, you know,
849
00:45:09,914 --> 00:45:13,293
have this property? Well, it's
called value for value
850
00:45:13,293 --> 00:45:16,463
and it's pretty
self-explanatory, but
851
00:45:16,463 --> 00:45:21,092
it recognises the importance
of subjective value. So this is
852
00:45:21,092 --> 00:45:24,054
really getting to the heart of K
value is not just money,
853
00:45:24,054 --> 00:45:27,766
money is great and all, it's
very useful, but there's
854
00:45:27,766 --> 00:45:31,686
a lot of things, in fact, mostly
everything in the world,
855
00:45:31,686 --> 00:45:34,440
which if you, if you're really
on your deathbed, you're looking
856
00:45:34,440 --> 00:45:36,483
at your life, you know,
money is not
857
00:45:36,483 --> 00:45:39,485
the thing that you go
that was the most valuable thing.
858
00:45:39,485 --> 00:45:43,282
No, it was interactions
with friends. It was leading a
859
00:45:43,282 --> 00:45:46,659
an ethical, moral life.
It was deciding
860
00:45:46,659 --> 00:45:48,911
to do certain things or not to do
certain things.
861
00:45:48,911 --> 00:45:52,166
It was travelling.
It was, you know, making love
862
00:45:52,166 --> 00:45:53,833
a beautiful woman
or a beautiful man.
863
00:45:53,833 --> 00:45:56,795
It was deciding
is all these factors
864
00:45:56,795 --> 00:45:59,797
which are just so much
more important than money.
865
00:45:59,797 --> 00:46:02,050
And the great thing about value
for value model
866
00:46:02,050 --> 00:46:05,344
is it recognises this.
You can go, okay, beautiful.
867
00:46:05,344 --> 00:46:08,849
The there's things which are more
important than money,
868
00:46:08,849 --> 00:46:12,643
money, money, money. And
I suppose if we want to get
869
00:46:12,643 --> 00:46:15,313
onto it, if we're going to
look at it in the monetisation
870
00:46:15,313 --> 00:46:18,942
model, yes, it is very
much important. It is helpful
871
00:46:18,942 --> 00:46:21,152
to, to have money
so you can do it
872
00:46:21,152 --> 00:46:23,280
through this metal,
through this model,
873
00:46:23,280 --> 00:46:25,865
and you can do it through
the cheapest,
874
00:46:25,865 --> 00:46:28,911
quickest, most efficient
and best money we have today,
875
00:46:28,911 --> 00:46:31,663
which is Bitcoin.
And so this is kind of getting on
876
00:46:31,663 --> 00:46:33,791
to the Bitcoin
properties as well.
877
00:46:33,791 --> 00:46:39,045
How does Bitcoin relate to these
these four aspects? And this is
878
00:46:39,045 --> 00:46:41,172
this is really where
I started off this was actually
879
00:46:41,172 --> 00:46:43,090
my starting point
when I was coming up
880
00:46:43,090 --> 00:46:47,054
with these four four ideas
and then I just saw, okay, yeah,
881
00:46:47,054 --> 00:46:50,306
these actually relate to podcast
and 2.0 on value for value.
882
00:46:50,306 --> 00:46:53,976
So decentralisation.
Well, there's one sort of truth,
883
00:46:53,976 --> 00:46:57,188
this being the ledger,
and this is supported
884
00:46:57,188 --> 00:46:59,942
by a network of,
of nodes and miners.
885
00:46:59,942 --> 00:47:02,860
And so once again
it's, it's people.
886
00:47:02,860 --> 00:47:06,114
One of the things I think that
decentralisation is hard
887
00:47:06,114 --> 00:47:10,661
to envision is, is that
a lot of there is always
888
00:47:10,661 --> 00:47:14,373
a kind of one source
of truth in aspect, which is
889
00:47:14,373 --> 00:47:16,750
this is the one thing
which which everyone
890
00:47:16,750 --> 00:47:21,213
kind of agrees upon,
whether this be in an open source
891
00:47:21,213 --> 00:47:26,260
project about, you know, let's
just take podcasting 2.0.
892
00:47:26,260 --> 00:47:29,679
The namespace, the namespaces is
the, is the kind of one
893
00:47:29,679 --> 00:47:31,849
source of truth
and this is hasn't GitHub
894
00:47:31,849 --> 00:47:36,686
attached to it.
Now with with Bitcoin for example
895
00:47:36,686 --> 00:47:39,940
the the strong thing is being me
as a as a pleb
896
00:47:39,940 --> 00:47:44,527
as someone who just has,
you know like no idea about how
897
00:47:44,527 --> 00:47:47,780
I would be able to access
the Australian financial system
898
00:47:47,780 --> 00:47:51,659
without a bank and in this case
I can actually go
899
00:47:51,659 --> 00:47:54,996
see the Bitcoin network,
I can go see the code
900
00:47:54,996 --> 00:47:57,541
and I can go check and verify
every transaction
901
00:47:57,541 --> 00:48:00,460
that has ever been done.
There is this which has
902
00:48:00,460 --> 00:48:03,045
everything on there.
If I was trying to do
903
00:48:03,045 --> 00:48:06,132
that in a monetary form
here in Australia, for example,
904
00:48:06,132 --> 00:48:08,217
I wouldn't be able to see
I have no idea how much
905
00:48:08,217 --> 00:48:11,054
Australian dollars
there are in circulation
906
00:48:11,054 --> 00:48:14,016
or how much there is on the
the kind of like
907
00:48:14,016 --> 00:48:17,978
balance of the government or in
the Reserve Bank of Australia.
908
00:48:17,978 --> 00:48:21,315
No, I kind of get
a little feel for it
909
00:48:21,315 --> 00:48:24,400
by going through one of the banks
that we have here,
910
00:48:24,400 --> 00:48:28,780
Commonwealth Bank,
Suncorp, I g nab,
911
00:48:28,780 --> 00:48:31,490
whatever you choose,
but once again I'm very much
912
00:48:31,490 --> 00:48:34,494
restricted in this, so
Bitcoin is definitely
913
00:48:34,494 --> 00:48:38,831
decentralised. Self-Sovereign I'm
entirely responsible for my coins
914
00:48:38,831 --> 00:48:41,710
unless I choose a
custodial service. So once again
915
00:48:41,710 --> 00:48:44,463
it has this aspect of
being able to, to
916
00:48:44,463 --> 00:48:48,634
do everything yourself.
But if you choose to, to offload
917
00:48:48,634 --> 00:48:51,344
some of that responsibility
to another party
918
00:48:51,344 --> 00:48:54,556
which you can trust,
or which I hope you trust
919
00:48:54,556 --> 00:48:57,934
and you get to make that choice,
you at least have the choice
920
00:48:57,934 --> 00:49:02,271
to be self-sovereign.
And in this case you would have a
921
00:49:02,271 --> 00:49:05,650
a wallet of some sort,
which you controlled
922
00:49:05,650 --> 00:49:09,947
and created via your phone,
by your via
923
00:49:09,947 --> 00:49:12,907
something that is known
as a hardware wallet.
924
00:49:12,907 --> 00:49:17,286
And you can own kind of the coins
or the access
925
00:49:17,286 --> 00:49:20,498
to these coins yourself.
All you need to do is remember
926
00:49:20,498 --> 00:49:24,878
12 words and list.
So you're ready. You're you're,
927
00:49:24,878 --> 00:49:28,547
you're completely sovereign over
as little or as much wealth
928
00:49:28,547 --> 00:49:30,467
as you are comfortable
in doing in that sense.
929
00:49:30,467 --> 00:49:33,094
So once again, you kind of
earn the money
930
00:49:33,094 --> 00:49:37,014
and you have a lot more
knowledge about the
931
00:49:37,014 --> 00:49:39,726
what the properties
of this money, i.e.
932
00:49:39,726 --> 00:49:41,353
in Bitcoin's case,
there's only going
933
00:49:41,353 --> 00:49:44,606
to be 21 million of it.
It's only going to inflate
934
00:49:44,606 --> 00:49:47,900
at this certain rate
where you can see year on year
935
00:49:47,900 --> 00:49:52,364
it's actually the inflation
is deflationary. Let's get
936
00:49:52,364 --> 00:49:55,117
into permissionless.
The ease of access means
937
00:49:55,117 --> 00:49:58,202
that no central identity entity
can stop me
938
00:49:58,202 --> 00:50:01,789
or getting or using coins
however I see fit.
939
00:50:01,789 --> 00:50:04,333
So in the case of
of getting coins,
940
00:50:04,333 --> 00:50:07,670
we can say, okay, well,
I can earn them much like I'm
941
00:50:07,670 --> 00:50:11,632
doing through my podcast
right now. I can mine them
942
00:50:11,632 --> 00:50:14,719
through a miner,
I can buy them from a
943
00:50:14,719 --> 00:50:17,054
centralised exchange,
I can get them from
944
00:50:17,054 --> 00:50:20,016
a decentralised exchange,
I can get them
945
00:50:20,016 --> 00:50:23,311
from a family member who wants to
send it to me. I can get it
946
00:50:23,311 --> 00:50:25,813
by working for it.
There's a whole myriad
947
00:50:25,813 --> 00:50:29,650
of options of of getting access
to these coins. And once again,
948
00:50:29,650 --> 00:50:32,903
all you need is a
wallet of some sort
949
00:50:32,903 --> 00:50:37,284
and internet access.
What about using the coins? Well,
950
00:50:37,284 --> 00:50:39,702
in this case I can do
whatever I want with them,
951
00:50:39,702 --> 00:50:42,789
I can send them to my friend,
I can send them overseas.
952
00:50:42,789 --> 00:50:47,376
I don't need to go through a bank
to be able to do this. I can just
953
00:50:47,376 --> 00:50:49,963
create a transaction myself
and send it off.
954
00:50:49,963 --> 00:50:52,673
And you have a lot
more functionality of of what
955
00:50:52,673 --> 00:50:55,052
you can do with it. It is
truly permissionless.
956
00:50:55,052 --> 00:50:59,722
There is no one who can
really restrict what I do with it
957
00:50:59,722 --> 00:51:02,684
without, you know,
putting a gun at my head
958
00:51:02,684 --> 00:51:06,353
and saying, you know,
do this, otherwise bad things
959
00:51:06,353 --> 00:51:08,981
will happen to you.
So we can see, okay,
960
00:51:08,981 --> 00:51:13,527
in this case, bitcoin definitely
is permissionless value transfer.
961
00:51:13,527 --> 00:51:16,114
This is the classic thing
related to money.
962
00:51:16,114 --> 00:51:19,034
What is money all about?
Well, it's basically to
963
00:51:19,034 --> 00:51:22,913
transfer value from one place
to another. Now, money has
964
00:51:22,913 --> 00:51:26,666
three different properties
which are essential to it.
965
00:51:26,666 --> 00:51:29,293
These being
as a medium of exchange.
966
00:51:29,293 --> 00:51:32,963
So you can kind of see this
with currencies of being able to
967
00:51:32,963 --> 00:51:37,177
interchange between
different things of tokens.
968
00:51:37,177 --> 00:51:40,554
So you can see this
as in like a face
969
00:51:40,554 --> 00:51:43,182
or a playground park
or maybe in Disney World.
970
00:51:43,182 --> 00:51:45,518
I don't know. I've never
been there myself where
971
00:51:45,518 --> 00:51:49,063
there are tokens that you can use
as, as payment within it.
972
00:51:49,063 --> 00:51:52,233
Oh, I've got this many tickets.
I with this many tickets
973
00:51:52,233 --> 00:51:57,030
I can buy a lolly or a paper
aeroplane or something like that.
974
00:51:57,030 --> 00:52:02,077
We have the store of value
so something like fish
975
00:52:02,077 --> 00:52:04,663
for example, rots,
that's not useful
976
00:52:04,663 --> 00:52:08,250
as a store of value,
something like paper money,
977
00:52:08,250 --> 00:52:12,295
you know, that's pretty durable.
It doesn't doesn't degrade
978
00:52:12,295 --> 00:52:16,423
over time. Well, over a long time
it does. But that that one's
979
00:52:16,423 --> 00:52:20,887
pretty good gold Another example,
really, really good at not
980
00:52:20,887 --> 00:52:24,099
being kind of breakable
or you have to really, you know,
981
00:52:24,099 --> 00:52:28,686
melt it, add different things
if you want to if you want to
982
00:52:28,686 --> 00:52:31,648
change its composition
and whatnot,
983
00:52:31,648 --> 00:52:34,483
Sure, you can scrape off
a couple of gold items
984
00:52:34,483 --> 00:52:35,985
every time you
you struck your gold
985
00:52:35,985 --> 00:52:38,195
bar lovingly.
But as a store of value,
986
00:52:38,195 --> 00:52:41,949
it's worked very well over
the over time. Bitcoin is very
987
00:52:41,949 --> 00:52:45,244
much like this. It is going to be
a store of value.
988
00:52:45,244 --> 00:52:48,623
You keep your money
in there and over time
989
00:52:48,623 --> 00:52:53,503
it will appreciate. The last one.
Here is a unit of account.
990
00:52:53,503 --> 00:52:56,213
So this is being able
to price things and this is being
991
00:52:56,213 --> 00:53:01,260
able to say, okay, a house is
let's just say
992
00:53:01,260 --> 00:53:05,056
ten bitcoin at the moment
that's roughly 400,000 Australian
993
00:53:06,266 --> 00:53:11,061
and I can have something like
a chair within this house
994
00:53:11,061 --> 00:53:14,398
or a backboard
or a painting or poster
995
00:53:14,398 --> 00:53:17,568
or something like that.
I can still price that,
996
00:53:17,568 --> 00:53:20,237
that painting or poster,
but it's going to be
997
00:53:20,237 --> 00:53:22,282
in the same unit.
I don't need to use
998
00:53:22,282 --> 00:53:26,411
fish to, to price that.
I can also use Bitcoin,
999
00:53:26,411 --> 00:53:29,121
but it's going to be obviously
a much smaller amount.
1000
00:53:29,121 --> 00:53:32,250
In the case of my poster
behind me, it might be
1001
00:53:32,250 --> 00:53:38,172
0.004 bitcoin, which is a
much less amount
1002
00:53:38,172 --> 00:53:44,471
than the or ten bitcoin than than
I used to to value a house.
1003
00:53:44,471 --> 00:53:47,014
So we can very much see,
okay, Bitcoin satisfies
1004
00:53:47,014 --> 00:53:49,851
these, these properties
and much more things
1005
00:53:49,851 --> 00:53:52,186
like being fungible,
being divisible,
1006
00:53:52,186 --> 00:53:54,563
durable, portable,
counterfeit resistant
1007
00:53:54,563 --> 00:53:56,565
and it's got,
you know, really good
1008
00:53:56,565 --> 00:54:01,070
properties as far as money.
So this is going to get us all
1009
00:54:01,070 --> 00:54:03,907
onto the value tag.
So this is combining
1010
00:54:03,907 --> 00:54:08,036
value for value podcasting
2.0 and Bitcoin.
1011
00:54:08,036 --> 00:54:11,831
So the value tag, what is it
and how does it work with s?
1012
00:54:11,831 --> 00:54:14,501
So I'm going to go here
to the GitHub
1013
00:54:14,501 --> 00:54:17,170
for the podcast index.
So this is for the
1014
00:54:17,170 --> 00:54:19,547
podcast namespace
and this is where it's
1015
00:54:19,547 --> 00:54:21,465
starting to describe
what is the purpose
1016
00:54:21,465 --> 00:54:23,550
of the value tag?
How do you use it?
1017
00:54:23,550 --> 00:54:26,637
So the value tag
is a way to receive
1018
00:54:26,637 --> 00:54:30,516
direct payments for podcast
is to receive direct payments
1019
00:54:30,516 --> 00:54:33,228
from that audience in response
to the action of viewing
1020
00:54:33,228 --> 00:54:36,438
or listening to a created work
utilising so called Layer
1021
00:54:36,438 --> 00:54:39,108
two cryptocurrency
networks like Lightning
1022
00:54:39,108 --> 00:54:41,027
and possibly
other digital currency
1023
00:54:41,027 --> 00:54:43,780
mechanisms near real time
micro payments
1024
00:54:43,780 --> 00:54:45,572
can be directly sent
from listener
1025
00:54:45,572 --> 00:54:47,951
or viewer to the creator
without the need
1026
00:54:47,951 --> 00:54:51,246
for a payment process
or other middlemen. Once again,
1027
00:54:51,246 --> 00:54:56,083
this is getting back into the
the the whitepaper Bitcoin.
1028
00:54:56,083 --> 00:54:59,211
A purely peer to peer version
of Electrum electronic cash
1029
00:54:59,211 --> 00:55:01,630
would allow online payments
to be sent directly
1030
00:55:01,630 --> 00:55:03,842
from one party to another
without going through
1031
00:55:03,842 --> 00:55:06,552
a financial institution.
We have done it.
1032
00:55:06,552 --> 00:55:10,431
It is happening here
with with the value tag.
1033
00:55:10,431 --> 00:55:13,559
So basically what what
this is, it's you have
1034
00:55:13,559 --> 00:55:15,853
a lightning address,
you have some sort of address
1035
00:55:15,853 --> 00:55:17,521
and wallet
that I was talking about
1036
00:55:17,521 --> 00:55:20,400
just before you put this
in your source of truth,
1037
00:55:20,400 --> 00:55:24,112
the RSS feed, and then people
who are ingesting this
1038
00:55:24,112 --> 00:55:27,032
and this being the podcast apps,
they can have
1039
00:55:27,032 --> 00:55:29,451
a way of saying, okay,
if you want to support
1040
00:55:29,451 --> 00:55:34,204
this creator, you can there
choose a way to do it.
1041
00:55:34,204 --> 00:55:36,248
And there's a couple
of different ways of doing this,
1042
00:55:36,248 --> 00:55:40,085
which I'll get on to soon.
And this is how you can
1043
00:55:40,085 --> 00:55:43,172
directly send money
in, in this case
1044
00:55:43,172 --> 00:55:47,177
in the form of Bitcoin directly
from yourself to them.
1045
00:55:47,177 --> 00:55:49,846
If you are a American,
let's not and you're
1046
00:55:49,846 --> 00:55:54,059
listening to an Iranian.
Tell me a way of you being
1047
00:55:54,059 --> 00:55:59,856
able to get money to them.
I for example, for a podcast
1048
00:55:59,856 --> 00:56:02,775
that I would like
to support in the
1049
00:56:02,775 --> 00:56:05,987
in the United Kingdom,
I wanted to buy
1050
00:56:05,987 --> 00:56:09,199
one of their shirts,
sending money to them directly
1051
00:56:09,199 --> 00:56:12,284
from my bank account
to their bank account was awful.
1052
00:56:12,284 --> 00:56:14,286
And that is between
two countries which are,
1053
00:56:14,286 --> 00:56:18,123
you know, I'm their brethren.
We the convict
1054
00:56:18,123 --> 00:56:20,585
descended from them.
So there is very much
1055
00:56:20,585 --> 00:56:23,295
this aspect of, okay, this is
this is actually having
1056
00:56:23,295 --> 00:56:26,715
some real utility.
This is amazing. Now, one of
1057
00:56:26,715 --> 00:56:28,842
the most powerful
parts of the value
1058
00:56:28,842 --> 00:56:36,101
tag is the splits. And so
this is the ability to create
1059
00:56:36,141 --> 00:56:40,063
not just one payment
where it can go to you can say,
1060
00:56:40,063 --> 00:56:42,398
okay, if you're going to
pay something to me
1061
00:56:42,398 --> 00:56:46,152
or to this podcast,
it can go 50% here
1062
00:56:46,152 --> 00:56:48,570
and it can go 50%
to another person.
1063
00:56:48,570 --> 00:56:51,699
So, for example, for myself
and for one,
1064
00:56:51,699 --> 00:56:55,994
we could do it as 5050.
But no, we do it in other ways
1065
00:56:55,994 --> 00:57:01,000
as well by incentivising
the podcast apps and helping
1066
00:57:01,000 --> 00:57:04,838
to support them. So actually,
for every Satoshi, for every
1067
00:57:04,838 --> 00:57:06,922
portion of Bitcoin
that you send to us
1068
00:57:06,922 --> 00:57:11,302
directly within the apps,
10% will go out to six
1069
00:57:11,302 --> 00:57:14,472
different developers,
30% will go to myself,
1070
00:57:14,472 --> 00:57:17,891
30% will go to one and 30%
into a joint fund
1071
00:57:17,891 --> 00:57:21,396
that we use to help
improve the show by buying
1072
00:57:21,396 --> 00:57:26,233
more equipment, by broadcasting
this to to more people, to
1073
00:57:27,443 --> 00:57:30,362
kind of like a fund which we use
for development of the show.
1074
00:57:30,362 --> 00:57:33,157
And this is probably
the most powerful thing
1075
00:57:33,157 --> 00:57:37,996
about this,
because what it can do is it it's
1076
00:57:37,996 --> 00:57:40,498
a way of incentivising
everyone in the system.
1077
00:57:40,498 --> 00:57:44,293
Everyone gets a piece of the pie.
So podcasters obviously
1078
00:57:44,293 --> 00:57:46,253
app developers.
So this is the people
1079
00:57:46,253 --> 00:57:49,757
who are creating the apps
where you listen to. They provide
1080
00:57:49,757 --> 00:57:52,385
a valuable service,
but they get jack shit
1081
00:57:52,385 --> 00:57:56,139
because there is just no real
payment method for them
1082
00:57:56,139 --> 00:57:59,184
to be involved in the
in the moving of money
1083
00:57:59,184 --> 00:58:02,769
back and forth hosts.
If they want to get in on this,
1084
00:58:02,769 --> 00:58:06,733
they can do that by saying, okay,
if you want to put value
1085
00:58:06,733 --> 00:58:10,695
into your A a lightning address
into your feed, that's awesome.
1086
00:58:10,695 --> 00:58:13,655
We just offset
we'll take 2% or 5%
1087
00:58:13,655 --> 00:58:17,367
of that, something like that.
The podcast index, they have
1088
00:58:17,367 --> 00:58:21,914
a standard 1%, which goes to them
for helping to create all of this
1089
00:58:21,914 --> 00:58:24,416
to maintaining a database
which these podcasting
1090
00:58:24,416 --> 00:58:26,585
apps can use.
You can even do this
1091
00:58:26,585 --> 00:58:30,923
for services for stats.
One is called Contacts
1092
00:58:30,923 --> 00:58:35,594
where you can get
stats which get in 10%,
1093
00:58:35,594 --> 00:58:40,141
actually four from us
goes to a place called Satoshis
1094
00:58:40,141 --> 00:58:43,186
dot stream, which gives us
some amazing stats
1095
00:58:43,186 --> 00:58:47,231
and allows us to say, okay,
this person sent in a message
1096
00:58:47,231 --> 00:58:49,150
and we can get it
going to our telegram
1097
00:58:49,150 --> 00:58:54,072
and to our discord and adds in
so many features. Sure. Amazing.
1098
00:58:54,072 --> 00:58:57,492
A service which I willingly
and gladly pay for.
1099
00:58:57,492 --> 00:59:00,536
There are things like
if you want to add collaborators
1100
00:59:00,536 --> 00:59:04,456
and every time that I
get a guest on the show,
1101
00:59:04,456 --> 00:59:07,960
I offer them the 30% that would
normally go to Juan.
1102
00:59:07,960 --> 00:59:11,255
I offered them that 30%,
and they can choose
1103
00:59:11,255 --> 00:59:15,217
to take that up if they want to.
I could also
1104
00:59:15,217 --> 00:59:18,762
do things like charities
if I wanted to, if I had a show
1105
00:59:18,762 --> 00:59:21,599
related to the
World Wildlife Fund
1106
00:59:21,599 --> 00:59:25,061
or something like that,
and it was a podcast directly
1107
00:59:25,061 --> 00:59:28,356
from that organisation,
they could have that as their
1108
00:59:28,356 --> 00:59:31,900
their kind of charity feed.
And so for every Satoshi,
1109
00:59:31,900 --> 00:59:35,405
every dollar that came in,
every portion of Bitcoin,
1110
00:59:35,405 --> 00:59:38,407
every monetary value,
let's just put it that way,
1111
00:59:38,407 --> 00:59:42,911
that could go directly to
their charity. There's so many
1112
00:59:42,911 --> 00:59:44,079
different things
you can do with that.
1113
00:59:44,079 --> 00:59:46,873
The splits is amazing.
It really just
1114
00:59:46,873 --> 00:59:48,876
alliance incentives.
You can even send it
1115
00:59:48,876 --> 00:59:50,836
back to the listeners
if you want.
1116
00:59:50,836 --> 00:59:54,047
So you've got someone
who is providing a lot of value,
1117
00:59:54,047 --> 00:59:57,885
but it is in a
in the form of artwork.
1118
00:59:57,885 --> 01:00:01,472
You can put in
5%, 10%, 20% for them,
1119
01:00:01,472 --> 01:00:03,891
whatever you want,
and that can go directly
1120
01:00:03,891 --> 01:00:07,728
from one listener to listener
who is actually helping
1121
01:00:07,728 --> 01:00:10,898
to support the show,
just not in a monetary form.
1122
01:00:10,898 --> 01:00:16,153
It opens up so many avenues of
of being able to incentive
1123
01:00:16,153 --> 01:00:19,657
wise people to do things to
just everyone is kind of
1124
01:00:19,657 --> 01:00:22,452
on the same board and everyone's
getting a piece of the pie
1125
01:00:22,452 --> 01:00:26,914
and it's really cutting out
these middlemen who in many cases
1126
01:00:26,914 --> 01:00:29,458
are non-productive
and who are solely there
1127
01:00:29,458 --> 01:00:31,918
to provide trust,
which I would say
1128
01:00:31,918 --> 01:00:34,463
is kind of the best case.
And in this case
1129
01:00:34,463 --> 01:00:36,715
I'm talking about
things like PayPal,
1130
01:00:36,715 --> 01:00:40,927
which are solely there
to facilitate and provide trust
1131
01:00:40,927 --> 01:00:42,847
that this goes
from here to there.
1132
01:00:42,847 --> 01:00:44,806
And in the worst case,
they are there
1133
01:00:44,806 --> 01:00:49,394
to restrict and control
whatever is that you're doing,
1134
01:00:49,394 --> 01:00:52,690
whilst also charging you for the
privilege of doing that.
1135
01:00:53,815 --> 01:00:55,610
For those of you
who haven't investigated
1136
01:00:55,610 --> 01:00:59,822
the music industry,
might just be worth
1137
01:00:59,822 --> 01:01:03,326
having a quick
check out of how much
1138
01:01:03,326 --> 01:01:07,454
a individual musician gets from
their royalties.
1139
01:01:07,454 --> 01:01:11,083
It's like 10 to 20% if that.
And so all the rest of
1140
01:01:11,083 --> 01:01:16,172
that money is going to the record
companies is going to distribute
1141
01:01:16,172 --> 01:01:19,425
is to providers.
And a lot of this is work
1142
01:01:19,425 --> 01:01:23,096
which is kind of
just been stagnated,
1143
01:01:23,096 --> 01:01:25,056
which is just like
this is the way it is
1144
01:01:25,056 --> 01:01:27,349
where where the big boys,
if you want to record,
1145
01:01:27,349 --> 01:01:29,936
if you want to put
your music out, this is how
1146
01:01:29,936 --> 01:01:32,813
you have to do it. Once again,
with value for value,
1147
01:01:32,813 --> 01:01:35,108
this can change that, but I'm
getting a little
1148
01:01:35,108 --> 01:01:36,943
bit ahead of myself
that that comes in the
1149
01:01:36,943 --> 01:01:42,072
in the near future. So how
how is this actually facilitated?
1150
01:01:42,072 --> 01:01:44,117
What is the value tag
and what's some
1151
01:01:44,117 --> 01:01:47,829
some real examples of this? Well,
one of this is streaming stats.
1152
01:01:47,829 --> 01:01:51,916
So basically
I can whip up a an app
1153
01:01:51,916 --> 01:01:55,670
one like let's just choose
Costa matic, for example.
1154
01:01:55,670 --> 01:02:01,717
And I can choose for every minute
on the minute I want 21 Satoshis
1155
01:02:01,717 --> 01:02:05,596
or 100 satoshis to go. Let's use
an easy example, 100 Satoshis
1156
01:02:05,596 --> 01:02:09,726
to go to my to the podcast.
So that means every minute
1157
01:02:09,726 --> 01:02:13,938
that I'm listening, it will,
it will go through to them.
1158
01:02:13,938 --> 01:02:17,775
Now, it won't necessarily be sent
every minute on the minute
1159
01:02:17,775 --> 01:02:21,195
because sometimes these apps
like to do batching and so
1160
01:02:21,195 --> 01:02:24,407
they might wait for 10 minutes
and then send in 10 minutes
1161
01:02:24,407 --> 01:02:27,409
worth of you listening.
But you know, if you finish
1162
01:02:27,409 --> 01:02:31,496
listening at 12 minutes,
they will then go, okay,
1163
01:02:31,496 --> 01:02:33,916
I will send that extra
2 minutes and bam,
1164
01:02:33,916 --> 01:02:37,961
that goes to the podcast.
Listen, the podcast host
1165
01:02:37,961 --> 01:02:40,130
or to whoever
they have in this play
1166
01:02:40,130 --> 01:02:43,509
in the in the feed.
So if you do 100 sets per minute,
1167
01:02:43,509 --> 01:02:48,054
that means every minute 100 sets
will get distributed
1168
01:02:48,054 --> 01:02:50,182
to the various splits
that you have set up.
1169
01:02:50,182 --> 01:02:53,643
So once again, for me
that would be 30% to one,
1170
01:02:53,643 --> 01:02:57,190
30% to myself, 30% to our
individual fund.
1171
01:02:57,190 --> 01:03:00,610
And then of those six developers,
which I have in the in the
1172
01:03:00,610 --> 01:03:04,362
in the feeds, but that
1% will go to this guy,
1173
01:03:04,362 --> 01:03:06,824
one person here,
1% here, and 4% pay
1174
01:03:06,824 --> 01:03:10,036
something like that.
So we can really see, okay,
1175
01:03:10,036 --> 01:03:13,664
this is really getting
into the aspect of micropayments.
1176
01:03:13,664 --> 01:03:16,041
And unlike subscriptions
or paywalls,
1177
01:03:16,041 --> 01:03:19,670
you are only paying for
what you actually use. And so
1178
01:03:19,670 --> 01:03:23,632
this is kind of known
as play to pay. And so once again
1179
01:03:23,632 --> 01:03:28,094
on the podcast index
namespace GitHub
1180
01:03:28,094 --> 01:03:31,389
and for the value tag here,
this system can be
1181
01:03:31,389 --> 01:03:34,893
thought of as play to pay rather
than the traditional pay
1182
01:03:34,893 --> 01:03:37,896
to play paywall approach.
When a media listener
1183
01:03:37,896 --> 01:03:40,733
such as within a podcast
app presses a play button
1184
01:03:40,733 --> 01:03:44,653
on an episode whose feed contains
a value block, a compatible app
1185
01:03:44,653 --> 01:03:47,614
will be expected to begin
streaming micropayments to the
1186
01:03:47,614 --> 01:03:50,409
designated recipients
on a time interval
1187
01:03:50,409 --> 01:03:53,119
that makes sense for the app.
The amount of each payment
1188
01:03:53,119 --> 01:03:55,831
can be any amount
the listener chooses,
1189
01:03:55,831 --> 01:03:57,791
including zero.
If the listener chooses
1190
01:03:57,791 --> 01:03:59,960
not to pay to listen
to this media,
1191
01:03:59,960 --> 01:04:03,713
then the app can ignore the value
block of that feed.
1192
01:04:03,713 --> 01:04:07,260
So we can really see, okay,
once again, this is enabling
1193
01:04:07,260 --> 01:04:10,679
so many cool things.
It's enabling a listener
1194
01:04:10,679 --> 01:04:13,682
to value their podcast
at whatever amount they want.
1195
01:04:13,682 --> 01:04:16,811
It enables the app to
perhaps take a portion
1196
01:04:16,811 --> 01:04:22,983
of this as well. It enables
you as the listener to know,
1197
01:04:22,983 --> 01:04:27,280
okay, I'm really
deciding on how much value I'm
1198
01:04:27,280 --> 01:04:29,072
getting for this. I'm not
getting overcharged.
1199
01:04:29,072 --> 01:04:31,242
I get to choose as soon as I stop
listening,
1200
01:04:31,242 --> 01:04:34,871
as soon as I stop paying. And so
the cool thing about this
1201
01:04:34,871 --> 01:04:37,748
is it's really passive.
It really requires
1202
01:04:37,748 --> 01:04:41,918
no active decision making
to be made. And whilst
1203
01:04:41,918 --> 01:04:45,130
also giving flexibility
in determining the amount.
1204
01:04:45,130 --> 01:04:48,009
So as the listener
once again can choose,
1205
01:04:48,009 --> 01:04:52,054
you know what, I want to
really support this amount
1206
01:04:52,054 --> 01:04:54,514
to this particular creator.
I think they're worth
1207
01:04:54,514 --> 01:04:58,436
100 stats per minute. This one,
which I don't value as much.
1208
01:04:58,436 --> 01:05:00,938
It's not my favourite show,
but it's still okay.
1209
01:05:00,938 --> 01:05:03,815
I'm going to send them
ten sites per minute
1210
01:05:03,815 --> 01:05:06,318
and you can really see
just having this ability
1211
01:05:06,318 --> 01:05:09,989
to kind of do a set and forget
way of supporting
1212
01:05:09,989 --> 01:05:13,659
your favourite creator
is just a game changer.
1213
01:05:13,659 --> 01:05:17,579
It's really, really amazing and
when it catches on, you're
1214
01:05:17,579 --> 01:05:20,625
really going to be able to do
some more cool things, such
1215
01:05:20,625 --> 01:05:24,128
as seeing in your stats,
what do listeners actually prefer
1216
01:05:24,128 --> 01:05:27,547
listening to? When do they stop
dropping off? And Oh, I can.
1217
01:05:27,547 --> 01:05:32,637
Okay, they only made it halfway
through this show. Oh, maybe I'm
1218
01:05:32,637 --> 01:05:34,764
doing something weird there
and you can kind of
1219
01:05:34,764 --> 01:05:37,724
see this with the value.
You can kind of see this
1220
01:05:37,724 --> 01:05:40,393
and things like YouTube
with podcasting,
1221
01:05:40,393 --> 01:05:42,396
you can't see this at all
because the
1222
01:05:42,396 --> 01:05:45,440
the analytics mechanisms
of all of the open
1223
01:05:45,440 --> 01:05:49,027
source podcasting doesn't really
allow for this. It's it's
1224
01:05:49,027 --> 01:05:53,032
not what I could
how could I say this
1225
01:05:53,032 --> 01:05:55,742
surveilled enough? There's
there's enough privacy.
1226
01:05:55,742 --> 01:05:58,746
What was the last night?
That sort of information
1227
01:05:58,746 --> 01:06:00,706
doesn't go through
all the way to the host
1228
01:06:00,706 --> 01:06:04,168
and to the podcast
podcasting themselves.
1229
01:06:04,168 --> 01:06:06,461
But if people are voluntarily
sending your money,
1230
01:06:06,461 --> 01:06:09,005
you can see this.
It's really, really cool.
1231
01:06:09,005 --> 01:06:11,675
Another way of doing
this is via boosts
1232
01:06:11,675 --> 01:06:14,260
and boost to grams. So this is
the nomenclature,
1233
01:06:14,260 --> 01:06:16,137
this is the naming
of these things.
1234
01:06:16,137 --> 01:06:18,349
So these are individual
one off payments
1235
01:06:18,349 --> 01:06:22,186
that are typically larger
and usually occur due
1236
01:06:22,186 --> 01:06:26,190
due to a call to action
or maybe a highlight that isn't
1237
01:06:26,190 --> 01:06:28,900
within the episode.
So a call to action
1238
01:06:28,900 --> 01:06:31,445
is one for you, right now.
If you're really enjoying
1239
01:06:31,445 --> 01:06:34,072
everything that's been happening,
hit the send me a boost,
1240
01:06:34,072 --> 01:06:37,576
Send me through now.
I used an example of
1241
01:06:37,576 --> 01:06:39,786
a bitcoin before.
Send me through a bitcoin
1242
01:06:39,786 --> 01:06:42,206
now. Okay. Obviously most people
aren't going to be sending
1243
01:06:42,206 --> 01:06:46,335
through 38,000 or 40,000
or whatever it is at the moment,
1244
01:06:46,335 --> 01:06:49,505
but I could just give a highlight
an example and say, Hey,
1245
01:06:49,505 --> 01:06:51,548
if you've been
enjoying it so much,
1246
01:06:51,548 --> 01:06:53,300
send me something
through something funny
1247
01:06:53,300 --> 01:06:57,972
like 8008 Abuad donation,
or you can do this
1248
01:06:57,972 --> 01:07:01,349
unprompted on your own.
This can be automated
1249
01:07:01,349 --> 01:07:05,438
for recurring amounts
for support, even if the
1250
01:07:05,438 --> 01:07:08,940
listening is a regular.
So if you're more of someone who
1251
01:07:08,940 --> 01:07:12,027
who just wants to support a show,
but you're not necessarily
1252
01:07:12,027 --> 01:07:14,780
going to be listening in
to every single episode,
1253
01:07:14,780 --> 01:07:17,867
you can do it so that you will
have a boost
1254
01:07:17,867 --> 01:07:20,119
come in a certain amount
for each episode,
1255
01:07:20,119 --> 01:07:22,913
for each piece of content
that I create.
1256
01:07:22,913 --> 01:07:25,166
Or you could do this
on a schedule,
1257
01:07:25,166 --> 01:07:27,876
much like Dave Jones
does for for myself,
1258
01:07:27,876 --> 01:07:33,007
for this show, where he will send
in his regular 1 to 1 one two.
1259
01:07:33,007 --> 01:07:37,385
So 12,112 sets,
which has a special
1260
01:07:37,385 --> 01:07:41,514
meaning to him every week on the
on a Wednesday. And it's
1261
01:07:41,514 --> 01:07:43,266
a show of support
even if he doesn't
1262
01:07:43,266 --> 01:07:47,980
necessarily have time to tune in
to this actual show. We can also
1263
01:07:47,980 --> 01:07:50,440
see this being done
through another service
1264
01:07:50,440 --> 01:07:55,737
called Oche, which which allows
for one time payments, recurring
1265
01:07:55,737 --> 01:07:57,947
one time payments
and in the future
1266
01:07:57,947 --> 01:08:00,826
we'll see this through
apps such as POD fans,
1267
01:08:00,826 --> 01:08:02,494
which have this
service built into it,
1268
01:08:03,788 --> 01:08:06,248
the booster Graham
So that is a boost. Boost to
1269
01:08:06,248 --> 01:08:08,626
Graham is essentially
the same thing but with a message
1270
01:08:08,626 --> 01:08:12,545
attached to it as well.
So this can provide the show
1271
01:08:12,545 --> 01:08:16,175
for extra content
and valuable feedback.
1272
01:08:16,175 --> 01:08:19,261
And it's kind of way
of solving the black box
1273
01:08:19,261 --> 01:08:22,305
problem of
writers and podcasters,
1274
01:08:22,305 --> 01:08:25,434
which I referenced before.
So this is where
1275
01:08:25,434 --> 01:08:28,520
for my first year
and a half of podcasting,
1276
01:08:28,520 --> 01:08:31,899
it really did
feel like I was speaking to avoid
1277
01:08:31,899 --> 01:08:35,277
very little feedback
would come to me and some of
1278
01:08:35,277 --> 01:08:38,697
it was so hard to find.
I didn't even know it was there,
1279
01:08:38,697 --> 01:08:42,993
such as someone left us a review
on Apple Podcasts. I don't have a
1280
01:08:42,993 --> 01:08:45,912
notification system
that blinks up and tells me,
1281
01:08:45,912 --> 01:08:48,164
Oh, you've received a new thing
on Apple Podcasts.
1282
01:08:48,164 --> 01:08:51,460
No, I would have to go to that
day in and day out to see
1283
01:08:51,460 --> 01:08:57,091
or did someone do anything that
is very much a painful
1284
01:08:57,091 --> 01:09:00,886
process because I remember
doing this myself. I would listen
1285
01:09:00,886 --> 01:09:03,764
to a whole bunch of podcasts
and I would want to
1286
01:09:03,764 --> 01:09:05,975
give them some feedback,
say, Hey, I really enjoyed
1287
01:09:05,975 --> 01:09:07,810
listening to the show.
Now how would I
1288
01:09:07,810 --> 01:09:10,688
typically do this? Well,
I couldn't do without it
1289
01:09:10,688 --> 01:09:12,523
within the podcasting app,
so usually
1290
01:09:12,523 --> 01:09:15,275
I'd have a try and see,
do they have any social?
1291
01:09:15,275 --> 01:09:17,360
Okay, yeah, maybe they have
an Instagram. All right,
1292
01:09:17,360 --> 01:09:19,404
I'll go over to them all.
But this kind of weird
1293
01:09:19,404 --> 01:09:23,199
just sending them
an unprompted message. Whatever.
1294
01:09:23,199 --> 01:09:26,453
I'll do it anyway.
Oh, that message. Did that
1295
01:09:26,453 --> 01:09:28,663
actually go through
or are they just ignoring it?
1296
01:09:28,663 --> 01:09:30,457
I'm not too sure
because it doesn't have the Reed
1297
01:09:30,457 --> 01:09:33,793
functionality.
And funny little example here was
1298
01:09:33,793 --> 01:09:39,550
I sent a podcast
or a message in 2021 sorry, 2020
1299
01:09:39,550 --> 01:09:42,761
and they didn't
respond to it until 2023.
1300
01:09:42,761 --> 01:09:45,555
And they were just like,
Oh my God, I'm so sorry.
1301
01:09:45,555 --> 01:09:48,850
This went into the
the non primary
1302
01:09:48,850 --> 01:09:50,685
section of Instagram
and I just don't
1303
01:09:50,685 --> 01:09:55,064
check the other bit. Thank you.
Thank you for giving me a review
1304
01:09:55,064 --> 01:09:59,194
and sending some feedback.
Two years, 2 to 3 years
1305
01:09:59,194 --> 01:10:03,364
after the fact.
So the amazing thing for this is
1306
01:10:03,364 --> 01:10:05,283
you really are solving
that problem
1307
01:10:05,283 --> 01:10:07,368
when you get a booster
Graham in you
1308
01:10:07,368 --> 01:10:11,164
no matter the amount.
It's kind of a just
1309
01:10:11,164 --> 01:10:16,545
direct, in-your-face
show of support. Someone values
1310
01:10:16,545 --> 01:10:18,588
your podcast
and it doesn't matter
1311
01:10:18,588 --> 01:10:21,216
how much it is
really the bigger amount.
1312
01:10:21,216 --> 01:10:24,552
Yeah, sure. That's amazing.
But it's more the, the aspect
1313
01:10:24,552 --> 01:10:26,721
that you can know, you can see,
you can feel it.
1314
01:10:26,721 --> 01:10:30,100
It's something tangible
which just is an absolute
1315
01:10:30,100 --> 01:10:33,979
game changer. So boost booster
Graham's and streaming sites
1316
01:10:33,979 --> 01:10:39,400
to two amazing functionalities
that occur from the value tag.
1317
01:10:39,400 --> 01:10:42,238
Now I've been talking about this
for a while but what's some
1318
01:10:42,238 --> 01:10:46,115
case examples? And so I'm going
to give you some of our stats
1319
01:10:46,115 --> 01:10:51,454
that we've done for the show.
So I received we've received our
1320
01:10:51,454 --> 01:10:56,085
first revenue boost,
which came in of July 2021
1321
01:10:56,085 --> 01:10:59,796
from a supporter who doesn't tune
in that much, I don't think,
1322
01:10:59,796 --> 01:11:03,550
by the name of Chad F And so
if you're looking
1323
01:11:03,550 --> 01:11:06,552
at your screen now,
and if you can't see the graph
1324
01:11:06,552 --> 01:11:10,099
that I'm talking about, either
go on to the YouTube channel
1325
01:11:10,099 --> 01:11:15,688
or go on to a new podcast app,
new podcast app sitcom one
1326
01:11:15,688 --> 01:11:20,609
like Fountain Costa Matic,
Chiara Costa Pod verse,
1327
01:11:20,609 --> 01:11:22,987
and they will be able
to show these pod friend,
1328
01:11:22,987 --> 01:11:24,570
they will be able to show
these images
1329
01:11:24,570 --> 01:11:28,449
within the actual app.
And you can see from we've
1330
01:11:28,449 --> 01:11:30,703
I've created this graph
which goes from quarter
1331
01:11:30,703 --> 01:11:35,748
three of 2021 through to quarter
one of 2023 because that is
1332
01:11:35,748 --> 01:11:39,545
the most recent. And you can see
it's once again
1333
01:11:39,545 --> 01:11:43,006
one of those kind of
bar graphs turning into hopefully
1334
01:11:43,006 --> 01:11:45,216
exponential graphs
where just the amounts
1335
01:11:45,216 --> 01:11:48,345
just get larger and larger.
So we first started off
1336
01:11:48,345 --> 01:11:53,434
in our first three months
with getting about 209,000.
1337
01:11:53,434 --> 01:12:00,231
So that's a year later we're
sitting at 1,860,000
1338
01:12:00,524 --> 01:12:02,775
and then roughly
another year later
1339
01:12:02,775 --> 01:12:05,863
we're sitting at
4 million and something.
1340
01:12:05,863 --> 01:12:07,905
And you can really just see
like the numbers
1341
01:12:07,905 --> 01:12:11,909
stop and go up here
now in terms of, okay,
1342
01:12:11,909 --> 01:12:16,039
how much actually is this?
Is this better than advertising,
1343
01:12:16,039 --> 01:12:20,711
for example? Well,
we can put it this way. If you do
1344
01:12:20,711 --> 01:12:26,591
the math, 4,363,000
SATs comes out as roughly
1345
01:12:26,591 --> 01:12:30,220
a grand and a half,
1 to 1 and a half
1346
01:12:30,220 --> 01:12:34,600
to two grand Australian. So one
and a half to $2,000. How much
1347
01:12:34,600 --> 01:12:36,310
would we have gotten
if we had done
1348
01:12:36,310 --> 01:12:39,854
kind of the standard advertising
in that time period? Well,
1349
01:12:39,854 --> 01:12:43,359
for the amount of listeners
that our show gets, which is
1350
01:12:43,359 --> 01:12:45,444
I'd say in that time period
it was probably about
1351
01:12:45,444 --> 01:12:52,117
100,000 listeners.
You can typically get 15 to $20
1352
01:12:52,368 --> 01:12:54,661
cost per mile.
So this is for every
1353
01:12:54,661 --> 01:12:57,372
thousand times
that someone listens to the show,
1354
01:12:57,372 --> 01:13:01,417
you'll get maybe 15 to $20.
If you do the math for that.
1355
01:13:01,417 --> 01:13:03,045
Once again,
that's roughly equalling
1356
01:13:03,045 --> 01:13:07,091
to that one and a half to $2,000,
which are reasonable numbers.
1357
01:13:07,091 --> 01:13:10,301
Everything I said
there was was reasonable.
1358
01:13:10,301 --> 01:13:13,764
Now that's okay.
So you can kind of say, well,
1359
01:13:13,764 --> 01:13:17,725
that's roughly
equivalent and okay, why,
1360
01:13:17,725 --> 01:13:19,520
why should I do it then? Wouldn't
it just be easier
1361
01:13:19,520 --> 01:13:23,356
to do advertising? Well, mean,
not necessarily. I would argue
1362
01:13:23,356 --> 01:13:25,943
that my show is better
because we've never taken
1363
01:13:25,943 --> 01:13:29,070
advertising money for it.
So I can avoid
1364
01:13:29,070 --> 01:13:32,533
all the censorship issues
that I talked about before.
1365
01:13:32,533 --> 01:13:35,077
I never had to do any meetings
with advertisers
1366
01:13:35,077 --> 01:13:38,663
or sponsors about, you know,
agreements on this,
1367
01:13:38,663 --> 01:13:42,042
on how we can do the
the host read host, read
1368
01:13:42,042 --> 01:13:45,253
or talking about this product or,
you know, you need to say it
1369
01:13:45,253 --> 01:13:49,757
this way or say say it more
with more passion or
1370
01:13:49,757 --> 01:13:53,220
remember to make sure you say
the code at the end and there's
1371
01:13:53,220 --> 01:13:57,306
a lot of hassle that can go into
all of that as well. And I think
1372
01:13:57,306 --> 01:14:00,560
of the downside of of advertising
and sponsorship,
1373
01:14:00,560 --> 01:14:02,229
there's some other things
which you can maybe
1374
01:14:02,229 --> 01:14:04,564
call downsides.
You do have to constantly
1375
01:14:04,564 --> 01:14:07,109
remind your audience.
You do have to ask
1376
01:14:07,109 --> 01:14:08,985
when you first start off,
it kind of
1377
01:14:08,985 --> 01:14:11,988
feels like begging, like,
please send me some support.
1378
01:14:11,988 --> 01:14:14,408
But no, when you get into
the meat of it, it goes
1379
01:14:14,408 --> 01:14:17,453
on providing a show and providing
value for you. I just ask that
1380
01:14:17,453 --> 01:14:20,204
you provide it back. That's
that's all I'm asking for.
1381
01:14:20,204 --> 01:14:23,625
So with our show,
you can kind of see, okay,
1382
01:14:23,625 --> 01:14:25,961
you know, it's done.
It's starting to make some sense
1383
01:14:25,961 --> 01:14:29,756
and I'm going to continue
doing this. And
1384
01:14:29,756 --> 01:14:32,551
this is not a big show.
I started off from scratch.
1385
01:14:32,551 --> 01:14:35,804
I wasn't a famous person
before I started and I hopefully
1386
01:14:35,804 --> 01:14:38,474
never will be famous. So that
doesn't sound fun.
1387
01:14:38,474 --> 01:14:41,935
But I do want to
I do think I can get to a level
1388
01:14:41,935 --> 01:14:45,396
where I will be able to
to form a lifestyle, to have a
1389
01:14:45,396 --> 01:14:48,900
an income generated
from the podcast, from people
1390
01:14:48,900 --> 01:14:52,570
supporting into me. And if
I find that kind of
1391
01:14:52,570 --> 01:14:56,073
thousand true fans,
which is a very famous
1392
01:14:56,073 --> 01:14:59,744
blog post by Kevin Kelly,
which is this aspect of you know
1393
01:14:59,744 --> 01:15:03,164
if you get a thousand people
who are willing to support you
1394
01:15:03,164 --> 01:15:06,627
in a monetary form, that's that's
kind of all you need. You don't
1395
01:15:06,627 --> 01:15:08,587
you don't need to
be a famous megastar.
1396
01:15:08,587 --> 01:15:10,756
You don't need to be
getting millions
1397
01:15:10,756 --> 01:15:13,007
and millions of downloads
per episode. You can
1398
01:15:13,007 --> 01:15:16,636
you can survive on a much,
much less than that. Now, Adam
1399
01:15:16,636 --> 01:15:22,809
Curry is another classic example
for his stats. I
1400
01:15:22,809 --> 01:15:25,145
it's hard to measure
because I don't listen
1401
01:15:25,145 --> 01:15:29,440
to his show that often,
but they have segments
1402
01:15:29,440 --> 01:15:31,984
in that show where they just
thank everyone for
1403
01:15:31,984 --> 01:15:34,363
for his supporting them.
And because they
1404
01:15:34,363 --> 01:15:37,114
were getting so much
they had to put caps on it of,
1405
01:15:37,114 --> 01:15:43,956
you know, you if it's less than
kind of $150, we don't have time
1406
01:15:43,956 --> 01:15:46,332
that the show
will just go so long.
1407
01:15:46,332 --> 01:15:51,712
And so they have people
sending in 300,$400 regularly.
1408
01:15:51,712 --> 01:15:56,717
And then every now and then 5000,
you know, thousands of thousand.
1409
01:15:56,717 --> 01:16:00,180
So it's definitely
to to create it to a level
1410
01:16:00,180 --> 01:16:02,849
to get it to a level
where you are able to
1411
01:16:02,849 --> 01:16:06,520
just sustain not just one
family or two, but two family
1412
01:16:06,520 --> 01:16:08,646
and and to do it in a way
where you don't need
1413
01:16:08,646 --> 01:16:12,818
to have a full network,
you don't need to be this crazy
1414
01:16:12,818 --> 01:16:15,279
big celebrity or popular
or something like that.
1415
01:16:15,279 --> 01:16:17,113
Now you can have your niche
and you can
1416
01:16:17,113 --> 01:16:21,618
you make it for yourself.
Now, another case example here is
1417
01:16:21,618 --> 01:16:23,828
is just showing that
people are actually using this.
1418
01:16:23,828 --> 01:16:26,081
Everything that I talked about
now is how,
1419
01:16:26,081 --> 01:16:28,958
look, it's kind of nerdy.
I get it talking about RSS
1420
01:16:28,958 --> 01:16:30,711
feeds, talking
about audio, talking
1421
01:16:30,711 --> 01:16:34,547
about all these different things.
Why do I care, Karen? Well,
1422
01:16:34,547 --> 01:16:37,175
it's it is the way of the future
that is kind of like
1423
01:16:37,175 --> 01:16:41,721
nerds determine
where where things go. And it's,
1424
01:16:41,721 --> 01:16:44,224
you know, if you're on
that boundary point between nerdy
1425
01:16:44,224 --> 01:16:48,520
and or normal, then then
it might be worth exploring some
1426
01:16:48,520 --> 01:16:50,564
of these things.
And what I can tell you
1427
01:16:50,564 --> 01:16:53,317
is that it is gaining adoption.
So the other graph
1428
01:16:53,317 --> 01:16:57,654
that you'll see on your screen
was showing the V for V stats,
1429
01:16:57,654 --> 01:16:59,823
and now these are coming
from the actual podcast
1430
01:16:59,823 --> 01:17:04,744
index itself
because they ask for a 1% payment
1431
01:17:04,744 --> 01:17:09,373
of everything that goes through
1% fee, they actually get
1432
01:17:09,373 --> 01:17:11,960
quite a good bit of data
on what's actually going
1433
01:17:11,960 --> 01:17:13,962
on, how much is actually
roughly flowing
1434
01:17:13,962 --> 01:17:17,466
through the system.
Now, not everyone gets this.
1435
01:17:17,466 --> 01:17:22,261
So just taking from that
the website which is stats dot
1436
01:17:22,261 --> 01:17:26,099
bond podcast index
dot org slash V for V,
1437
01:17:26,099 --> 01:17:27,725
this is a look
at the total assets
1438
01:17:27,725 --> 01:17:29,645
flowing through the value
for value lightning,
1439
01:17:29,645 --> 01:17:32,396
podcasting economy over
various periods of time.
1440
01:17:32,396 --> 01:17:36,068
We calculate this data
based on our visibility as a 1%
1441
01:17:36,068 --> 01:17:39,404
split on podcast
index dot org API calls.
1442
01:17:39,404 --> 01:17:41,030
Therefore the true numbers
could be higher,
1443
01:17:41,030 --> 01:17:43,992
but they cannot be
lower than listed here.
1444
01:17:43,992 --> 01:17:45,868
This represents
our best approximation
1445
01:17:45,868 --> 01:17:49,163
of how many sets are flowing
across the entire ecosystem
1446
01:17:49,163 --> 01:17:52,376
from listeners to creators
guest via episode splits,
1447
01:17:52,376 --> 01:17:55,628
platforms, services and apps.
So it's really showing,
1448
01:17:55,628 --> 01:17:58,631
okay, what's going on,
where is all of this stuff going?
1449
01:17:58,631 --> 01:18:02,636
So I'll just read from the 90 day
period that they have here
1450
01:18:02,636 --> 01:18:08,100
in the last 90 days,
110,000 807,468
1451
01:18:08,100 --> 01:18:11,435
sets, which is equalling
to about 30 grand.
1452
01:18:11,435 --> 01:18:14,398
I'm guessing that's USD
has been flowing
1453
01:18:14,398 --> 01:18:16,108
through the system.
So that's more than
1454
01:18:16,108 --> 01:18:18,527
a four Bitcoin.
The transaction count,
1455
01:18:18,527 --> 01:18:21,113
there's been about a
million transactions and unique
1456
01:18:21,113 --> 01:18:28,494
senders is roughly hovering about
3 to 400 per day. Once again, I
1457
01:18:28,494 --> 01:18:32,248
would say in terms of
the full numbers, you know,
1458
01:18:32,248 --> 01:18:34,667
is this millions,
is this billions of dollars?
1459
01:18:34,667 --> 01:18:37,421
No, no, not yet. It's still
relatively small.
1460
01:18:37,421 --> 01:18:41,173
But what I can say is,
once again, this is this is
1461
01:18:41,173 --> 01:18:44,219
getting distributed across
a variety of places.
1462
01:18:44,219 --> 01:18:47,264
At the moment. There's about
13,000 podcasts
1463
01:18:47,264 --> 01:18:52,644
which have this enabled. Now.
Are every single 13,000 of them
1464
01:18:52,644 --> 01:18:55,104
getting an equal split of that
absolutely no way
1465
01:18:55,104 --> 01:18:57,774
because many of them
have enabled it, but they don't
1466
01:18:57,774 --> 01:18:59,693
talk about it.
They don't ask for value
1467
01:18:59,693 --> 01:19:03,572
back from their audience
unless people know about
1468
01:19:03,572 --> 01:19:06,115
the service, what you're
what you're operating,
1469
01:19:06,115 --> 01:19:08,577
what you're asking for,
how to do it. They're not
1470
01:19:08,577 --> 01:19:11,078
going to do it. And so
even though you can
1471
01:19:11,078 --> 01:19:14,623
maybe say, Oh,
that's not that much, in the last
1472
01:19:14,623 --> 01:19:17,127
couple of months
we have received.
1473
01:19:17,127 --> 01:19:19,296
So in this 90 day period,
I would say we
1474
01:19:19,296 --> 01:19:22,673
as the mere mortals, we probably
got about 2 million of that.
1475
01:19:22,673 --> 01:19:27,095
So that definitely more than our
fair share. But it's because we
1476
01:19:27,095 --> 01:19:30,931
follow the system and we
we ask for the value back
1477
01:19:30,931 --> 01:19:34,269
and we make it obvious as to
how how supporters can help
1478
01:19:34,269 --> 01:19:38,314
support via this way.
Now, effort and patience
1479
01:19:38,314 --> 01:19:41,234
definitely does get rewarded.
So even though
1480
01:19:41,234 --> 01:19:44,488
the numbers are small,
they're growing and when I
1481
01:19:44,488 --> 01:19:49,868
first started off this in
when was at 2021
1482
01:19:49,868 --> 01:19:54,914
that was 400 podcasts
which which had value enabled.
1483
01:19:54,914 --> 01:19:58,960
That's up to 13,000 now.
And you can see over time,
1484
01:19:58,960 --> 01:20:01,421
the graph of that
also shows, okay,
1485
01:20:01,421 --> 01:20:03,006
this is regularly
gaining adoption.
1486
01:20:03,006 --> 01:20:04,841
People are becoming
interested in this
1487
01:20:04,841 --> 01:20:07,594
and it's it's not slowing
down, it's not going downwards.
1488
01:20:07,594 --> 01:20:09,762
More and more people
are getting interested
1489
01:20:09,762 --> 01:20:13,809
of these three 13,000
about three quarters
1490
01:20:13,809 --> 01:20:16,978
of these three speak feeds,
which are an interesting
1491
01:20:16,978 --> 01:20:19,939
little side project here
and which is getting more,
1492
01:20:19,939 --> 01:20:22,484
I suppose, onto
the room for more.
1493
01:20:22,484 --> 01:20:23,777
What's going to come
in the future,
1494
01:20:23,777 --> 01:20:28,073
What are some other cool things,
how individuals
1495
01:20:28,073 --> 01:20:32,034
are able to to make this
make a big difference
1496
01:20:32,034 --> 01:20:34,371
just on their own.
And there's this thing
1497
01:20:34,371 --> 01:20:37,207
called Popping and Hive.
So one of the things
1498
01:20:37,207 --> 01:20:40,335
about podcasting 2.0 is that
everyone is welcome
1499
01:20:40,335 --> 01:20:42,796
to participate
for value for value
1500
01:20:42,796 --> 01:20:45,422
and for Bitcoin. Actually,
everyone is able to participate.
1501
01:20:45,422 --> 01:20:48,635
This is the permissionless.
Everyone can get out of it.
1502
01:20:48,635 --> 01:20:50,886
And it's important
to remember that
1503
01:20:50,886 --> 01:20:54,640
value is subjective and there's
one of the things I kind of you
1504
01:20:54,640 --> 01:20:57,435
value for value. It's it's
a bitcoin thing.
1505
01:20:57,435 --> 01:20:59,979
You can send bitcoin.
Yeah, sure you can,
1506
01:20:59,979 --> 01:21:02,481
but you can also send
other things. It's value
1507
01:21:02,481 --> 01:21:06,819
for value is subjective. And so
there's these two things
1508
01:21:06,819 --> 01:21:09,530
which are being created,
one called pod banks, which is a
1509
01:21:09,530 --> 01:21:11,908
notification system
that can reduce the amount
1510
01:21:11,908 --> 01:21:14,743
of energy required
for scraping feeds just to check
1511
01:21:14,743 --> 01:21:16,537
if they have changed.
So typically,
1512
01:21:16,537 --> 01:21:20,417
the way that something like Apple
or Spotify will check to see
1513
01:21:20,417 --> 01:21:24,671
if new podcasts have been
updated is or a new episode of
1514
01:21:24,671 --> 01:21:27,047
they change their artwork.
Do they change the description
1515
01:21:27,047 --> 01:21:29,801
in one of their shows
is they just scrape,
1516
01:21:29,801 --> 01:21:32,345
they are just clawing
every single fee
1517
01:21:32,345 --> 01:21:36,015
that every single podcast host,
you know, every half an hour.
1518
01:21:36,015 --> 01:21:38,225
Give me that data, you know,
and this requires
1519
01:21:38,225 --> 01:21:41,645
a ton of energy to do, wouldn't
it make more sense
1520
01:21:41,645 --> 01:21:45,609
if the podcast hosts
or the people who are in the feed
1521
01:21:45,609 --> 01:21:48,278
just send out a message
every every time that they
1522
01:21:48,278 --> 01:21:50,404
change something.
And then that would
1523
01:21:50,404 --> 01:21:54,074
allow Apple to now
get a new version of their feed.
1524
01:21:54,074 --> 01:21:56,578
And so they're not wasting
all of this energy
1525
01:21:56,578 --> 01:21:59,872
checking for things that actually
haven't changed. Well,
1526
01:21:59,872 --> 01:22:02,292
this is what pumping does
pumping is a way
1527
01:22:02,292 --> 01:22:04,418
for the podcast host
to send out a message.
1528
01:22:04,418 --> 01:22:07,046
And then this is written on the
The Hive blockchain,
1529
01:22:07,046 --> 01:22:09,673
which is very much suited
for this sort of stuff.
1530
01:22:09,673 --> 01:22:12,551
I won't get into all the details,
but it's very cool
1531
01:22:12,551 --> 01:22:16,972
where something which is
a kind of niche, hard
1532
01:22:16,972 --> 01:22:20,018
to fix problem was solved by
by really kind of
1533
01:22:20,018 --> 01:22:22,645
one guy proposing it
and then a couple of people
1534
01:22:22,645 --> 01:22:25,064
getting into it.
And so this was a guy
1535
01:22:25,064 --> 01:22:28,443
by the name of Brian of London,
and he has also done
1536
01:22:28,443 --> 01:22:30,278
some other cool
things like the Hive
1537
01:22:30,278 --> 01:22:33,405
Two Lightning Bridge.
So there's blockchain,
1538
01:22:33,405 --> 01:22:36,283
the Hive blockchain,
they have their own version
1539
01:22:36,283 --> 01:22:41,163
of currency on it. And if you are
listening to one of their
1540
01:22:41,163 --> 01:22:43,958
their feeds, so I've mentioned
the three speak before.
1541
01:22:43,958 --> 01:22:47,837
So this is basically
a video podcast, which is
1542
01:22:47,837 --> 01:22:50,506
something that they use on this,
this blockchain people
1543
01:22:50,506 --> 01:22:53,842
create these video podcasts.
If you go into an app
1544
01:22:53,842 --> 01:22:57,305
and you are listening via
lightning via Bitcoin,
1545
01:22:57,305 --> 01:23:00,307
he's created a way
where as you are listening,
1546
01:23:00,307 --> 01:23:04,020
it can automatically convert this
and turn it into hive.
1547
01:23:04,020 --> 01:23:07,148
So something that these people
on this platform
1548
01:23:07,148 --> 01:23:11,444
value more than Satoshis
So this is really cool stuff
1549
01:23:11,444 --> 01:23:14,863
where it's just
kind of everyone's
1550
01:23:14,863 --> 01:23:17,117
working together
and there's just no,
1551
01:23:17,117 --> 01:23:19,452
there's no restrictions. If you,
if you've got your
1552
01:23:19,452 --> 01:23:20,912
own sort of thing
and you're willing
1553
01:23:20,912 --> 01:23:23,914
to put in a bit of work
and effort to to try create
1554
01:23:23,914 --> 01:23:27,418
something new, the value tag,
for example, it's
1555
01:23:27,418 --> 01:23:29,045
it's not only lightning.
You can use
1556
01:23:29,045 --> 01:23:30,713
whatever cryptocurrency
you want in there.
1557
01:23:30,713 --> 01:23:34,551
If you're willing to put
in the time to do
1558
01:23:34,551 --> 01:23:37,302
the hard development
that's required. If you're
1559
01:23:37,302 --> 01:23:38,721
if there are other
people out there
1560
01:23:38,721 --> 01:23:41,015
who will create apps
that will support this,
1561
01:23:42,100 --> 01:23:45,310
it's it's kind of
the very definition of the free
1562
01:23:45,310 --> 01:23:48,648
and open market. Everyone can do
what they want, and it's
1563
01:23:48,648 --> 01:23:51,525
through the interaction
of everyone doing what they want
1564
01:23:51,525 --> 01:23:54,612
that we find out what actually
is valuable, what do actually
1565
01:23:54,612 --> 01:23:58,658
a lot of people want and need.
And this is then finally
1566
01:23:58,658 --> 01:24:01,994
getting us into what else is
in the future.
1567
01:24:01,994 --> 01:24:04,247
I've been only talking
about podcasting here,
1568
01:24:04,247 --> 01:24:07,667
but digital content comes in.
Many forms can come, the music
1569
01:24:07,667 --> 01:24:11,462
can come in, writing can come in
video and RSS supports
1570
01:24:11,462 --> 01:24:13,840
all of these.
You can have a blog,
1571
01:24:13,840 --> 01:24:16,717
you can put music in
in an audio file
1572
01:24:16,717 --> 01:24:19,762
and you can put video in.
And though they might not
1573
01:24:19,762 --> 01:24:23,682
be podcasts, they're definitely
digital. This is
1574
01:24:23,682 --> 01:24:27,228
commonly associated
with audio, but RSS, which stands
1575
01:24:27,228 --> 01:24:31,356
for really simple
syndication is a simple but also
1576
01:24:31,356 --> 01:24:35,319
powerful tool, so commonly
just for the empathy of kind
1577
01:24:35,319 --> 01:24:38,155
of people talking.
But why can't you do it
1578
01:24:38,155 --> 01:24:40,240
for music? And well,
the thing is, you can.
1579
01:24:40,240 --> 01:24:43,536
And so there was a band
called Able in The Wolf,
1580
01:24:43,536 --> 01:24:45,872
which was comprised
of two podcasters,
1581
01:24:45,872 --> 01:24:48,582
and they decided,
Hey, we want to actually
1582
01:24:49,626 --> 01:24:53,755
create some music using this
new system and see
1583
01:24:53,755 --> 01:24:55,840
is this actually better
than perhaps
1584
01:24:55,840 --> 01:24:58,426
something like Spotify,
where you as the artist,
1585
01:24:58,426 --> 01:25:01,554
as the creator,
you get very little.
1586
01:25:01,554 --> 01:25:06,225
For every thousand
listens that someone is on there,
1587
01:25:06,225 --> 01:25:09,311
you'll get maybe
I think it's a cent or $0.02.
1588
01:25:09,311 --> 01:25:14,442
It's an absurdly small amount
if you compare this to roughly
1589
01:25:14,442 --> 01:25:16,569
what we've seen,
which is very similar
1590
01:25:16,569 --> 01:25:19,447
to the amount of money
that you can get via,
1591
01:25:19,447 --> 01:25:22,408
via advertising.
So it was roughly around that 15
1592
01:25:22,408 --> 01:25:25,912
to $20 per thousand.
They actually experienced
1593
01:25:25,912 --> 01:25:29,498
something similar. So they put
their music up in an RSS feed,
1594
01:25:29,498 --> 01:25:32,710
they put images,
which is kind of like
1595
01:25:32,710 --> 01:25:35,046
what you would see
for the episode artwork
1596
01:25:35,046 --> 01:25:37,798
or the band, the cover,
the cover art that you would
1597
01:25:37,798 --> 01:25:42,261
typically see on a a CD back
when those were a thing
1598
01:25:42,261 --> 01:25:48,184
and they were able to
to do this and that was it just a
1599
01:25:49,351 --> 01:25:52,855
a need for a drive for it.
People enjoyed listening to music
1600
01:25:52,855 --> 01:25:56,609
and whilst it's kind of
the functionality is not great
1601
01:25:56,609 --> 01:26:00,113
at the moment because you have to
use a podcast app and it's
1602
01:26:00,113 --> 01:26:03,032
to use a music app
much like YouTube music,
1603
01:26:03,032 --> 01:26:05,243
much like kind of Spotify
used to be before
1604
01:26:05,243 --> 01:26:07,871
it added podcasts.
There's there's ways
1605
01:26:07,871 --> 01:26:10,206
where this is becoming
more and more valuable.
1606
01:26:10,206 --> 01:26:11,707
Another thing
I haven't talked about
1607
01:26:11,707 --> 01:26:16,253
was the value time split.
So this is being able to say
1608
01:26:16,253 --> 01:26:20,382
directly within an episode,
I want it to change
1609
01:26:20,382 --> 01:26:23,511
from my normal split
between my myself one
1610
01:26:23,511 --> 01:26:28,265
and the developers, I'd like that
to go to somewhere else. And this
1611
01:26:28,265 --> 01:26:30,643
then allows for so much
more functionality
1612
01:26:30,643 --> 01:26:35,648
like being a DJ, having a DJ set,
you know, welcome.
1613
01:26:35,648 --> 01:26:37,274
You know, talking
about the latest greatest hits
1614
01:26:37,274 --> 01:26:39,735
is a new one I found
play the song
1615
01:26:39,735 --> 01:26:42,905
and as song's playing
all the splits,
1616
01:26:42,905 --> 01:26:44,532
everything changes
and the money goes
1617
01:26:44,532 --> 01:26:46,201
towards the artist.
And then when the
1618
01:26:46,201 --> 01:26:49,078
DJ comes back in,
it goes back to him.
1619
01:26:49,078 --> 01:26:51,788
We're going to see,
hopefully Adam Curry doing this,
1620
01:26:51,788 --> 01:26:58,755
recreating his old MTV, MTV days.
And it could be kind of
1621
01:26:58,755 --> 01:27:01,341
it's almost like
a revival of radio and deejays.
1622
01:27:01,341 --> 01:27:05,677
We might see this
happening within what is,
1623
01:27:05,677 --> 01:27:08,430
I suppose, commonly
the podcasting world.
1624
01:27:08,430 --> 01:27:12,894
We can see this happening
writing with how there are
1625
01:27:12,894 --> 01:27:17,148
things like nostalgia, which is a
it's a protocol basically
1626
01:27:17,148 --> 01:27:18,983
where it's
kind of imagined Twitter.
1627
01:27:18,983 --> 01:27:22,069
But as you're
people can can send you
1628
01:27:22,069 --> 01:27:24,738
instead of a like,
which is just a kind
1629
01:27:24,738 --> 01:27:28,243
of meaningless hot.
There's actually ten sets a very,
1630
01:27:28,243 --> 01:27:30,286
very micropayment,
a portion of bitcoin
1631
01:27:30,286 --> 01:27:33,247
which goes to you
things like stack a news
1632
01:27:33,247 --> 01:27:37,502
blue sky. There's also this idea
of of being able to write
1633
01:27:37,502 --> 01:27:40,296
and people as they're reading,
as they get past
1634
01:27:40,296 --> 01:27:43,173
a certain paragraph, Yeah,
a payment might go
1635
01:27:43,173 --> 01:27:45,801
or something like that.
We can also see this
1636
01:27:45,801 --> 01:27:47,970
with video happening
with picture group I mentioned
1637
01:27:47,970 --> 01:27:50,847
or the three speak
three speak feeds before.
1638
01:27:50,847 --> 01:27:53,768
Those are all video
and even something like,
1639
01:27:53,768 --> 01:27:55,395
like YouTube, which
you might not think
1640
01:27:56,604 --> 01:27:59,064
I was kind of Reilly
on them a bit before but they
1641
01:27:59,064 --> 01:28:02,527
they've something similar
which is super chats
1642
01:28:02,527 --> 01:28:04,612
of being able
to support the creator
1643
01:28:04,612 --> 01:28:06,530
of being able
to send them a message
1644
01:28:06,530 --> 01:28:09,408
as you support them.
And so it shows up on the screen.
1645
01:28:09,408 --> 01:28:13,662
They can thank you directly.
I see this with Twitch as well.
1646
01:28:13,662 --> 01:28:15,622
There's a hunger,
there's a desire.
1647
01:28:15,622 --> 01:28:18,126
The trend is going
towards supporting people
1648
01:28:18,126 --> 01:28:21,296
and in more peer to peer manner
and therefore
1649
01:28:21,296 --> 01:28:24,215
having a digital money
that is programmable.
1650
01:28:24,215 --> 01:28:28,094
A bitcoin makes sense
because you can do so many cool
1651
01:28:28,094 --> 01:28:32,849
things with it. You
create splits, you can tell it
1652
01:28:32,849 --> 01:28:36,810
when to stop and turn on
and you can do recurring payments
1653
01:28:36,810 --> 01:28:40,480
and you can do payments
which don't make sense
1654
01:28:40,480 --> 01:28:42,358
in the current financial system.
There's no way
1655
01:28:42,358 --> 01:28:44,484
you can send anything
less than a dollar
1656
01:28:44,484 --> 01:28:47,195
or $2 anywhere else
because it all
1657
01:28:47,195 --> 01:28:51,117
just gets chewed up in the
that things like PayPal
1658
01:28:51,117 --> 01:28:55,662
will ask for. So all of
that kind of makes sense in this
1659
01:28:55,662 --> 01:28:59,958
digital programmable money way.
All right. That was a whole
1660
01:28:59,958 --> 01:29:04,505
lot of stuff. So let's get into
to my summary podcast. Podcasting
1661
01:29:04,505 --> 01:29:06,591
is finally improving.
There's new features, there's
1662
01:29:06,591 --> 01:29:09,719
new functionalities,
and it provides a better
1663
01:29:09,719 --> 01:29:12,555
listening experience and dare
I even say, a new
1664
01:29:12,555 --> 01:29:15,099
listening experience.
Podcasting 2.0
1665
01:29:15,099 --> 01:29:19,311
is offering so much in terms of
benefit for the listeners,
1666
01:29:19,311 --> 01:29:22,148
but then benefits
also for the people creating it
1667
01:29:22,148 --> 01:29:26,652
of creating a connectivity
between between the two of us
1668
01:29:26,652 --> 01:29:31,032
as a listener. They can now
or I can now decide
1669
01:29:31,032 --> 01:29:34,077
how I want to listen,
how to give value back,
1670
01:29:34,077 --> 01:29:36,871
and if it is,
if I choose to do that
1671
01:29:36,871 --> 01:29:39,289
in one of two three form in a way
that makes
1672
01:29:39,289 --> 01:29:41,208
the most sense, doing it
within the app
1673
01:29:41,208 --> 01:29:45,003
actually makes sense.
It makes sense to just cut out
1674
01:29:45,003 --> 01:29:49,841
all of these middlemen,
to cut out so much bullshit of
1675
01:29:49,841 --> 01:29:52,470
apple scraping
feeds, of wasted energy,
1676
01:29:52,470 --> 01:29:55,430
of getting out of the app,
of trying to go into Instagram
1677
01:29:55,430 --> 01:29:57,391
or somewhere else
to try and find the link,
1678
01:29:57,391 --> 01:29:59,851
do this. Everything is
making sense
1679
01:29:59,851 --> 01:30:03,730
in terms of efficiency,
in terms of energy, in terms
1680
01:30:03,730 --> 01:30:09,069
of being able to connect.
It's so much better now beyond
1681
01:30:09,069 --> 01:30:12,114
all of the the boring
kind of money stuff.
1682
01:30:12,114 --> 01:30:16,159
So I was giving you stats
then of how much I've made of
1683
01:30:16,159 --> 01:30:21,082
of how you can make this of
how you can get more or less or
1684
01:30:21,082 --> 01:30:24,252
all of these sorts of things.
The most important thing
1685
01:30:24,252 --> 01:30:26,753
that all of this has enabled
and in particular
1686
01:30:26,753 --> 01:30:29,881
Bitcoin has enabled,
has helped me to connect more
1687
01:30:29,881 --> 01:30:35,304
with others in a I suppose,
a direct manner, in a in a way
1688
01:30:35,304 --> 01:30:37,931
that I haven't
experienced before. And and also
1689
01:30:37,931 --> 01:30:39,725
it allows me
to behave more ethically
1690
01:30:39,725 --> 01:30:42,520
and truthfully.
There was a period
1691
01:30:42,520 --> 01:30:47,024
where I kind of had reached
the, the boundary
1692
01:30:47,024 --> 01:30:49,944
point of what I wanted
to do with the podcast. If I,
1693
01:30:49,944 --> 01:30:52,654
if I grew it anymore,
I needed to be
1694
01:30:52,654 --> 01:30:55,699
compensated for that because I'm
spending a whole lot of time,
1695
01:30:55,699 --> 01:30:59,119
energy and effort creating all
of these things.
1696
01:30:59,119 --> 01:31:03,666
And to do that long
term, I would need to to
1697
01:31:03,666 --> 01:31:06,836
receive some sort of monetary
payment for that.
1698
01:31:06,836 --> 01:31:09,713
How was I going to do that?
I've always had an aversion
1699
01:31:09,713 --> 01:31:13,509
to advertising, to sponsorships,
and this is enabled me
1700
01:31:13,509 --> 01:31:16,386
to do it in a way which I do
believe is more ethical.
1701
01:31:16,386 --> 01:31:20,056
I do believe it's more truthful,
and it's solving
1702
01:31:20,056 --> 01:31:22,393
so many of those problems
of the black box,
1703
01:31:22,393 --> 01:31:28,106
of feeling alone,
of of not having the support,
1704
01:31:28,106 --> 01:31:29,774
knowing that
someone actually cares,
1705
01:31:29,774 --> 01:31:33,529
that you're creating something,
that it is valuable to them.
1706
01:31:33,529 --> 01:31:36,990
All of this, all of that eclipses
any monetary amount
1707
01:31:36,990 --> 01:31:41,162
that that I've actually received.
So that's kind of my
1708
01:31:41,162 --> 01:31:45,791
my summary of podcasting,
2.0 of value for value and how
1709
01:31:45,791 --> 01:31:48,002
these are delivering
on the promise of Bitcoin
1710
01:31:48,002 --> 01:31:52,088
of enabling peer
to peer transactions between two
1711
01:31:52,088 --> 01:31:56,676
willing participants. Amazing.
So let's just get onto
1712
01:31:56,676 --> 01:31:58,386
my final section.
Here is my value
1713
01:31:58,386 --> 01:32:01,599
ask my call to action. Well,
I would just recommend
1714
01:32:01,599 --> 01:32:05,144
checking out the three podcasts
that I that I've kind of create
1715
01:32:05,144 --> 01:32:08,564
and participate in.
Almost every individual
1716
01:32:08,564 --> 01:32:11,317
I've listed in in
this episode has appeared
1717
01:32:11,317 --> 01:32:13,985
on the model. So Adam
Curry, Dave Jones,
1718
01:32:13,985 --> 01:32:17,782
Brian of London, Chris Fisher,
James Cridland
1719
01:32:17,782 --> 01:32:19,617
and I can't remember
if I have listed
1720
01:32:19,617 --> 01:32:23,119
some more people, perhaps
almost all of them have
1721
01:32:23,119 --> 01:32:24,997
appeared on here.
And so if you want
1722
01:32:24,997 --> 01:32:27,542
more information,
we would just recommend
1723
01:32:27,542 --> 01:32:32,003
checking out some of the back
catalogue and learning more about
1724
01:32:32,003 --> 01:32:35,257
the individual nuances
and that part
1725
01:32:35,257 --> 01:32:38,135
that portion in this part
and creating all of this.
1726
01:32:38,135 --> 01:32:41,137
I would also just say
I have created the Value
1727
01:32:41,137 --> 01:32:45,309
for Value podcast. I have created
two seasons that so far
1728
01:32:45,309 --> 01:32:48,563
and it really does
dive into the nuances. I,
1729
01:32:48,563 --> 01:32:52,065
I have not done value for value A
the justice
1730
01:32:52,065 --> 01:32:56,904
deserves here, but I've,
I've tried to and season three,
1731
01:32:56,904 --> 01:32:58,948
I'm going to be
basing upon this episode.
1732
01:32:58,948 --> 01:33:01,492
So all of these individual kind
of chapters that I've
1733
01:33:01,492 --> 01:33:04,662
created from this
I'll be explaining in more depth.
1734
01:33:04,662 --> 01:33:06,581
I'll be explaining
more of the nuances
1735
01:33:06,581 --> 01:33:09,000
and more of the history
in the back story and how you
1736
01:33:09,000 --> 01:33:11,836
can participate either
as a listener or as a
1737
01:33:11,836 --> 01:33:15,297
content creator yourself.
And then finally
1738
01:33:15,297 --> 01:33:18,759
there's the Mere Mortals
book reviews. And so things like
1739
01:33:18,759 --> 01:33:20,677
the Bitcoin standard,
which was where
1740
01:33:20,677 --> 01:33:23,430
I was talking about
the the definitions
1741
01:33:23,430 --> 01:33:27,475
of, of money of, of commoners
as heir as another book
1742
01:33:27,475 --> 01:33:30,479
review I did which will help
you learn more about
1743
01:33:30,479 --> 01:33:33,064
kind of the open source
IP protection
1744
01:33:33,064 --> 01:33:35,318
and things like that.
Know if you want
1745
01:33:35,318 --> 01:33:38,237
a lot of the ideas and what's
kind of driven me
1746
01:33:38,237 --> 01:33:41,782
to appreciating Bitcoin,
to appreciating value
1747
01:33:41,782 --> 01:33:45,077
for value in podcasting
app, I would recommend
1748
01:33:45,077 --> 01:33:47,203
checking that out as well.
And then if
1749
01:33:47,203 --> 01:33:49,332
you feel like a cheeky,
cheeky boost
1750
01:33:49,332 --> 01:33:51,375
right at the end here,
that is the lifeblood
1751
01:33:51,375 --> 01:33:54,170
of this show.
It is the way that I,
1752
01:33:54,170 --> 01:33:56,046
it, it keeps me going
to be honest.
1753
01:33:56,046 --> 01:33:58,381
If I wasn't getting boosts
and boostagrams and I wouldn't
1754
01:33:58,381 --> 01:34:01,510
be continuing this on.
So I really do appreciate
1755
01:34:01,510 --> 01:34:04,930
that meremortals podcast dot
com is where you can find links
1756
01:34:04,930 --> 01:34:07,265
to all of those things.
And if you go
1757
01:34:07,265 --> 01:34:09,810
to the support page,
you'll see the graphs,
1758
01:34:09,810 --> 01:34:13,521
you will see how you can
participate, the becoming
1759
01:34:13,521 --> 01:34:16,192
a Mere Mortalite
in receiving some swag
1760
01:34:16,192 --> 01:34:20,654
if you reach a certain level
a Mere Mortals t shirt, all sorts
1761
01:34:20,654 --> 01:34:21,905
of different things
you can do there.
1762
01:34:21,905 --> 01:34:26,159
So I really hope you enjoy today
long long rant,
1763
01:34:26,159 --> 01:34:28,244
but I really enjoyed it
and it was something
1764
01:34:28,244 --> 01:34:32,166
that's just been on my mind for
for 2 to 3 years. I'm glad
1765
01:34:32,166 --> 01:34:35,293
finally was able to get all
this out into the open.
1766
01:34:35,293 --> 01:34:37,296
Thank you so much for
for joining all the way
1767
01:34:37,296 --> 01:34:41,591
to the end here. And I really do
hope you enjoy and look forward
1768
01:34:41,591 --> 01:34:45,887
to interacting and creating
more connections with you.
1769
01:34:45,887 --> 01:34:48,682
My dear listeners,
that is it for now.
1770
01:34:48,682 --> 01:34:49,934
For now, Kyrin out.
