title
How the basic attention token can overthrow the $330 billion digital ad industry | Brendan Eich

description
Lex Fridman Podcast full episode: https://www.youtube.com/watch?v=krB0enBeSiE Please support this podcast by checking out our sponsors: - The Jordan Harbinger Show: https://jordanharbinger.com/lex/ - Sun Basket: https://sunbasket.com/lex and use code LEX to get $35 off - BetterHelp: https://betterhelp.com/lex to get 10% off - Eight Sleep: https://www.eightsleep.com/lex and use code LEX to get special savings GUEST BIO: Brendan Eich is the creator of JavaScript and co-founder of Mozilla and Brave. PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 SOCIAL: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/LexFridmanPage - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Reddit: https://reddit.com/r/lexfridman - Support on Patreon: https://www.patreon.com/lexfridman

detail
{'title': 'How the basic attention token can overthrow the $330 billion digital ad industry | Brendan Eich', 'heatmap': [{'end': 210.066, 'start': 197.815, 'weight': 0.816}, {'end': 286.173, 'start': 274.767, 'weight': 0.797}], 'summary': "Delves into the potential impact of brave browser's philosophy and basic attention token, discussing alternate ad blocking, direct payments, ad revenue sharing, and disruption of advertising flow, as well as challenges in traditional subscription models and proposed solutions. it also addresses blockchain regulation, brave's ad model, and its potential impact on the browser industry, including the potential challenge to google's ad dominance.", 'chapters': [{'end': 120.658, 'segs': [{'end': 36.01, 'src': 'embed', 'start': 3.106, 'weight': 0, 'content': [{'end': 4.267, 'text': 'as opposed to just fighting.', 'start': 3.106, 'duration': 1.161}, {'end': 10.271, 'text': 'this is the really interesting thing about Brave is as opposed to just fighting and then being treated like an ad blocker,', 'start': 4.267, 'duration': 6.004}, {'end': 12.533, 'text': "you're providing an alternate.", 'start': 10.271, 'duration': 2.262}, {'end': 20.319, 'text': "there's a philosophical idea here that might change the nature of the internet with a basic attention token.", 'start': 12.533, 'duration': 7.786}, {'end': 28.425, 'text': "Maybe what is basic attention token, BAT, and how does it work? Okay, I'll tell the story first by saying how I came to it.", 'start': 20.399, 'duration': 8.026}, {'end': 36.01, 'text': "I realized for a long time at Firefox we were dependent on this Google search deal and I thought you know, now that Chrome's out,", 'start': 28.485, 'duration': 7.525}], 'summary': 'Brave offers an alternative to ad blocking, utilizing basic attention token (bat) to change the internet.', 'duration': 32.904, 'max_score': 3.106, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw3106.jpg'}, {'end': 124.72, 'src': 'embed', 'start': 99.002, 'weight': 2, 'content': [{'end': 105.849, 'text': "All the ads you see on the web are placed in your browser by it calling out to various ad tech partners, and Google's among them.", 'start': 99.002, 'duration': 6.847}, {'end': 108.952, 'text': 'And so if you block those scripts, you break the..', 'start': 106.41, 'duration': 2.542}, {'end': 115.936, 'text': 'the advertising flow of money from the brands and their agencies to the publishers.', 'start': 109.893, 'duration': 6.043}, {'end': 120.658, 'text': 'And if you want to reconnect it directly with the user, you have limited choices.', 'start': 116.676, 'duration': 3.982}, {'end': 124.72, 'text': "The user generally isn't gonna sign up with a ACH bank connection or a credit card.", 'start': 120.678, 'duration': 4.042}], 'summary': 'Blocking ad tech scripts breaks advertising flow, limiting user payment options.', 'duration': 25.718, 'max_score': 99.002, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw99002.jpg'}], 'start': 3.106, 'title': "Brave's impact on internet and basic attention token", 'summary': "Discusses the potential impact of the brave browser's philosophical idea and basic attention token (bat), including alternate ad blocking, direct payments, ad revenue sharing, and disruption of advertising flow.", 'chapters': [{'end': 120.658, 'start': 3.106, 'title': "Brave's impact on internet and basic attention token", 'summary': "Discusses how the brave browser's philosophical idea and basic attention token (bat) could potentially change the nature of the internet by providing an alternate to traditional ad blocking, allowing direct payments and ad revenue share for private ads, and disrupting the advertising flow of money from brands and agencies to publishers.", 'duration': 117.552, 'highlights': ["Brave's philosophical idea and Basic Attention Token could change the nature of the internet The philosophical idea behind Brave and Basic Attention Token has the potential to change the nature of the internet by disrupting the advertising flow and providing an alternate to traditional ad blocking.", 'Brave enables direct payments and ad revenue share for private ads Brave browser allows users to make direct payments and potentially get an ad revenue share for private ads, providing an alternative revenue model for publishers and creators.', 'Advertising flow disruption by blocking ad tech JavaScripts Blocking ad tech JavaScripts in the browser disrupts the advertising flow of money from the brands and their agencies to the publishers, potentially reshaping the digital advertising landscape.']}], 'duration': 117.552, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw3106.jpg', 'highlights': ["Brave's philosophical idea and Basic Attention Token could change the nature of the internet by disrupting the advertising flow and providing an alternate to traditional ad blocking.", 'Brave enables direct payments and ad revenue share for private ads, providing an alternative revenue model for publishers and creators.', 'Blocking ad tech JavaScripts in the browser disrupts the advertising flow of money from the brands and their agencies to the publishers, potentially reshaping the digital advertising landscape.']}, {'end': 351.334, 'segs': [{'end': 171.117, 'src': 'embed', 'start': 135.785, 'weight': 0, 'content': [{'end': 141.606, 'text': 'People are doing great, who are big names like New York Times and The Washington Post, but how many subscriptions are you as a user gonna pay for??', 'start': 135.785, 'duration': 5.821}, {'end': 147.008, 'text': "This is why startups like Tony Hale's Scroll are trying to do a portable subscription system.", 'start': 142.087, 'duration': 4.921}, {'end': 150.169, 'text': 'By the way, just on a small tangent there, even the New York Times.', 'start': 147.448, 'duration': 2.721}, {'end': 153.11, 'text': "it's really annoying how difficult it is just to subscribe.", 'start': 150.169, 'duration': 2.941}, {'end': 154.751, 'text': "There's way too many clicks.", 'start': 153.13, 'duration': 1.621}, {'end': 155.451, 'text': "They don't make it easy.", 'start': 154.891, 'duration': 0.56}, {'end': 156.371, 'text': 'I had friends a few years ago.', 'start': 155.471, 'duration': 0.9}, {'end': 163.394, 'text': "I think they fixed this who would pay for the paper and then they'd go online and they'd get up charged for the digital and there was no break.", 'start': 156.371, 'duration': 7.023}, {'end': 164.574, 'text': 'There was no connection between them.', 'start': 163.414, 'duration': 1.16}, {'end': 169.856, 'text': "But publishers are not that technical and they can't all get you to subscribe.", 'start': 165.715, 'duration': 4.141}, {'end': 171.117, 'text': "You can't have a thousand subscriptions.", 'start': 169.876, 'duration': 1.241}], 'summary': "Startups like scroll aim to simplify portable subscriptions for users frustrated by multiple subscriptions and cumbersome processes, such as the new york times' complicated system.", 'duration': 35.332, 'max_score': 135.785, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw135785.jpg'}, {'end': 228.656, 'src': 'heatmap', 'start': 197.815, 'weight': 0.816, 'content': [{'end': 200.938, 'text': 'but it could be done on the Bitcoin blockchain and it could be fairly efficient,', 'start': 197.815, 'duration': 3.123}, {'end': 206.082, 'text': 'even though Bitcoin went through a period when we had this prototype running in 2016 into 2017,', 'start': 200.938, 'duration': 5.144}, {'end': 210.066, 'text': 'where Bitcoin was very congested and very slow to confirm, and the fees got very high.', 'start': 206.082, 'duration': 3.984}, {'end': 215.489, 'text': 'And a lot of users who were not Bitcoin maximalists or even experienced.', 'start': 210.826, 'duration': 4.663}, {'end': 220.451, 'text': 'we helped them out by embedding a Coinbase buy widget and they had the income to buy, but it was hard.', 'start': 215.489, 'duration': 4.962}, {'end': 223.973, 'text': 'It was like, do I buy $5 a month? But the fee is like 450.', 'start': 220.471, 'duration': 3.502}, {'end': 228.656, 'text': "I better buy in larger batches, right? And they're like, I don't want to own that much Bitcoin.", 'start': 223.973, 'duration': 4.683}], 'summary': 'In 2016-2017, bitcoin was congested and slow, causing high fees, prompting users to buy larger batches.', 'duration': 30.841, 'max_score': 197.815, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw197815.jpg'}, {'end': 255.802, 'src': 'embed', 'start': 231.517, 'weight': 3, 'content': [{'end': 239.907, 'text': "And the real idea that I had of private ads that pay the user a rev share couldn't be realized alone in that kind of system.", 'start': 231.517, 'duration': 8.39}, {'end': 246.796, 'text': 'In these cryptocurrency systems, especially with the blockchain we switched to Ethereum, you can have smart contracts.', 'start': 241.029, 'duration': 5.767}, {'end': 250.881, 'text': 'The Bitcoin system is not Turing complete, so what you can do with the script is more limited.', 'start': 247.276, 'duration': 3.605}, {'end': 255.802, 'text': 'But you can still do sort of clever things, even with Bitcoin script.', 'start': 251.441, 'duration': 4.361}], 'summary': 'Private ad rev share idea not feasible alone, switched to ethereum blockchain for smart contracts, limitations with bitcoin script.', 'duration': 24.285, 'max_score': 231.517, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw231517.jpg'}, {'end': 307.865, 'src': 'heatmap', 'start': 274.767, 'weight': 4, 'content': [{'end': 277.228, 'text': 'The Guardian in the UK once did an experiment for a month.', 'start': 274.767, 'duration': 2.461}, {'end': 278.528, 'text': 'They bought out their own ad space.', 'start': 277.248, 'duration': 1.28}, {'end': 281.07, 'text': 'they put in a pound and they were paid 30 pence.', 'start': 279.128, 'duration': 1.942}, {'end': 286.173, 'text': '70% was coming out to the intermediary vendors they were using.', 'start': 282.15, 'duration': 4.023}, {'end': 289.536, 'text': "And that's like the opposite of what the app store does.", 'start': 287.394, 'duration': 2.142}, {'end': 292.058, 'text': 'The app store takes 30% and gives the publisher 70%.', 'start': 289.576, 'duration': 2.482}, {'end': 293.839, 'text': 'So pretty broken.', 'start': 292.058, 'duration': 1.781}, {'end': 300.323, 'text': 'In the old days of Superstation TBS, the media um owner would get 85.', 'start': 293.919, 'duration': 6.404}, {'end': 307.865, 'text': 'so these splits have become really unbalanced and the middle players, the the ad tech vendors, are taking out way too much money.', 'start': 300.323, 'duration': 7.542}], 'summary': "The guardian's ad experiment revealed 70% loss to intermediaries, highlighting unbalanced ad revenue splits.", 'duration': 33.098, 'max_score': 274.767, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw274767.jpg'}, {'end': 356.436, 'src': 'embed', 'start': 330.306, 'weight': 5, 'content': [{'end': 337.708, 'text': 'I forget which site he was running, but once he started using an ad partner that was sharing his audience information across multiple sites,', 'start': 330.306, 'duration': 7.402}, {'end': 339.709, 'text': 'he saw his competitors stealing all his traffic.', 'start': 337.708, 'duration': 2.001}, {'end': 345.171, 'text': "And then what's worse is the clickbait sites that just have much cheaper rates steal all that traffic.", 'start': 340.049, 'duration': 5.122}, {'end': 351.334, 'text': 'And that facilitates fraud, it facilitates fake news, all sorts of problems.', 'start': 345.831, 'duration': 5.503}, {'end': 356.436, 'text': 'So Grave blocks it, and then we give users the ability to give back.', 'start': 351.754, 'duration': 4.682}], 'summary': 'Using ad partner led to traffic theft, clickbait sites, and fraud. grave blocks it and allows users to give back.', 'duration': 26.13, 'max_score': 330.306, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw330306.jpg'}], 'start': 120.678, 'title': 'Challenges and solutions in subscription and ad tech models', 'summary': "Outlines the challenges of traditional subscription models, such as overcharging and inconvenience, and introduces a potential solution - a portable subscription system. it also delves into the inefficiencies of micropayments using bitcoin and proposes using ethereum's smart contracts to revolutionize the ad tech industry, addressing excessive cuts taken by ad tech vendors and the facilitation of fraud and fake news.", 'chapters': [{'end': 171.117, 'start': 120.678, 'title': 'Challenges of subscription models', 'summary': 'Highlights the challenges of traditional subscription models, such as overcharging, inconvenience, and the limitations of multiple subscriptions, while introducing the concept of a portable subscription system as a potential solution.', 'duration': 50.439, 'highlights': ['Publishers overcharge users to cross-subsidize content and push for multiple purchases, creating inconvenience for subscribers.', 'The limitations of multiple subscriptions are highlighted, questioning the feasibility of users paying for numerous subscriptions to access content.', "Startups like Tony Hale's Scroll are exploring a portable subscription system as a potential solution to the challenges of traditional subscription models.", 'The inconvenience and complexities of subscribing to digital content from established publishers, such as the New York Times, are emphasized, including difficulties in the process and upcharges for digital content.']}, {'end': 351.334, 'start': 171.677, 'title': 'Micropayments and ad tech revolution', 'summary': "Explores the challenges and inefficiencies of micropayments using bitcoin and the potential of using ethereum's smart contracts for a three-sided ecosystem to revolutionize the ad tech industry, highlighting the excessive cuts taken by ad tech vendors and the facilitation of fraud and fake news.", 'duration': 179.657, 'highlights': ["The inefficiencies of micropayments using Bitcoin led to high fees and congestion, prompting a switch to Ethereum for its smart contract capabilities. Bitcoin's congestion and high fees led to challenges for users contributing to micropayments, resulting in a switch to Ethereum for its smart contract capabilities.", 'Ad tech vendors take out a significant portion of the ad revenue, with an example of an intermediary vendor taking 70% of the revenue, highlighting the unbalanced nature of the current system. Ad tech vendors take out a significant portion of the ad revenue, with an example of an intermediary vendor taking 70% of the revenue, highlighting the unbalanced nature of the current system.', 'Ad tech intermediaries facilitate fraud and fake news by allowing malware vendors and clickbait merchants to steal traffic from legitimate sites through audience information sharing and exploitation. Ad tech intermediaries facilitate fraud and fake news by allowing malware vendors and clickbait merchants to steal traffic from legitimate sites through audience information sharing and exploitation.']}], 'duration': 230.656, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw120678.jpg', 'highlights': ['A portable subscription system is explored as a potential solution to traditional subscription challenges.', "Startups like Tony Hale's Scroll are investigating portable subscription systems.", 'Established publishers like the New York Times face complexities and upcharges for digital content subscriptions.', "Ethereum's smart contract capabilities are preferred over Bitcoin for micropayments due to high fees and congestion.", 'Ad tech vendors take a significant portion of ad revenue, with an example of an intermediary vendor taking 70% of the revenue.', 'Ad tech intermediaries facilitate fraud and fake news through audience information sharing and exploitation.']}, {'end': 819.165, 'segs': [{'end': 427.476, 'src': 'embed', 'start': 398.184, 'weight': 0, 'content': [{'end': 401.586, 'text': "If you're a Coinbase, you're gonna have to know who's at that address.", 'start': 398.184, 'duration': 3.402}, {'end': 403.967, 'text': "You're gonna have to- Like the actual identities of people involved.", 'start': 401.606, 'duration': 2.361}, {'end': 407.223, 'text': 'with Coinbase members, you sign up and they know you and they comply with the regulations.', 'start': 404.401, 'duration': 2.822}, {'end': 410.865, 'text': "They're a regulated money services business.", 'start': 407.243, 'duration': 3.622}, {'end': 417.529, 'text': "But if somebody's using their own so-called self-custodial wallet,", 'start': 412.126, 'duration': 5.403}, {'end': 423.994, 'text': "where they have the hardware private key and they're not named and they want to send to that address,", 'start': 417.529, 'duration': 6.465}, {'end': 427.476, 'text': 'our friends in the federal government are talking about requiring, at some threshold, knowing who that is.', 'start': 423.994, 'duration': 3.482}], 'summary': 'Coinbase complies with regulations, but gov may require id for self-custodial wallets.', 'duration': 29.292, 'max_score': 398.184, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw398184.jpg'}, {'end': 465.209, 'src': 'embed', 'start': 435.146, 'weight': 1, 'content': [{'end': 439.971, 'text': 'I think the beauty of being able to send peer to peer without any bank in the middle, without any, you know,', 'start': 435.146, 'duration': 4.825}, {'end': 443.275, 'text': 'huge wire charge and two day delay and all that nonsense is beautiful.', 'start': 439.971, 'duration': 3.304}, {'end': 446.679, 'text': "And I've used it and I love it, but we're pragmatistic, brave about crypto.", 'start': 443.295, 'duration': 3.384}, {'end': 452.503, 'text': "And we realized that anything like a revenue split, we can't facilitate without being licensed in a certain way,", 'start': 446.779, 'duration': 5.724}, {'end': 453.944, 'text': 'and it requires knowing who the user is.', 'start': 452.503, 'duration': 1.441}, {'end': 456.365, 'text': "So our default mode doesn't know who the user is.", 'start': 454.224, 'duration': 2.141}, {'end': 465.209, 'text': "It instead imputes to the user's browser some of the revenue and allows that browser to steer it back to the creators.", 'start': 456.845, 'duration': 8.364}], 'summary': 'Cryptocurrency enables peer-to-peer transactions, but licensing is needed for revenue split and user identification.', 'duration': 30.063, 'max_score': 435.146, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw435146.jpg'}, {'end': 575.589, 'src': 'embed', 'start': 543.735, 'weight': 2, 'content': [{'end': 545.136, 'text': "And that's part of our mission at Brave.", 'start': 543.735, 'duration': 1.401}, {'end': 551.358, 'text': 'So we want to have the economics that got captured by these big tech companies through tracking and through social networks.', 'start': 545.436, 'duration': 5.922}, {'end': 559.861, 'text': 'We want to block that for your own safety and then let you opt into a cleaner world where you keep your data defended in your browser and you can actually realize value from it.', 'start': 551.658, 'duration': 8.203}, {'end': 564.983, 'text': "So the way our ad system works, I mentioned it being private, but how does that work? We don't see your data at all.", 'start': 560.181, 'duration': 4.802}, {'end': 571.066, 'text': 'All browsers are sort of the mother of all data feeds your history, all your searches at all engines.', 'start': 565.363, 'duration': 5.703}, {'end': 575.589, 'text': "each engine sees the queries you send to it, but it doesn't see the others, but the browser sees them all.", 'start': 571.066, 'duration': 4.523}], 'summary': "Brave's mission is to block data tracking, enabling users to keep their data defended and realize value from it.", 'duration': 31.854, 'max_score': 543.735, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw543735.jpg'}, {'end': 647.489, 'src': 'embed', 'start': 617.351, 'weight': 5, 'content': [{'end': 620.853, 'text': 'And then pick the best ad from a fixed catalog per day.', 'start': 617.351, 'duration': 3.502}, {'end': 627.936, 'text': 'And the catalog is fixed across a large population per day and it only updates once a day, because new offers come in and old ones expire,', 'start': 621.173, 'duration': 6.763}, {'end': 629.737, 'text': 'sometimes every week or every month.', 'start': 627.936, 'duration': 1.801}, {'end': 635.68, 'text': 'And that catalog, and there can be many such catalogs, sold by our direct sales team.', 'start': 630.237, 'duration': 5.443}, {'end': 642.065, 'text': "And so we're making an anonymous audience available to advertisers without the advertisers tracking them.", 'start': 636.561, 'duration': 5.504}, {'end': 647.489, 'text': "Instead, each browser is a little machine learning system that's picking the best catalog entry.", 'start': 642.385, 'duration': 5.104}], 'summary': 'Anonymously offer catalog entries to advertisers using machine learning.', 'duration': 30.138, 'max_score': 617.351, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw617351.jpg'}, {'end': 691.551, 'src': 'embed', 'start': 667.78, 'weight': 4, 'content': [{'end': 674.101, 'text': 'And the machine learning is learning about you specifically, locally, in order to choose from the catalog of different ads.', 'start': 667.78, 'duration': 6.321}, {'end': 681.463, 'text': "Couldn't this possibly be like a multi-billion dollar, isn't this taking on the Google ad? Could be.", 'start': 674.521, 'duration': 6.942}, {'end': 685.266, 'text': 'So, like what I mean, one question to ask.', 'start': 681.983, 'duration': 3.283}, {'end': 691.551, 'text': 'there seems to be some really profound ideas here that are different than what the internet has grown up to be.', 'start': 685.266, 'duration': 6.285}], 'summary': 'Machine learning personalizes ads locally, potentially competing with google. offers new, profound internet ideas.', 'duration': 23.771, 'max_score': 667.78, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw667780.jpg'}, {'end': 751.257, 'src': 'embed', 'start': 714.913, 'weight': 3, 'content': [{'end': 718.977, 'text': "First of all, if Brave gets 95%, I'm gonna demand a recount because I won't believe it.", 'start': 714.913, 'duration': 4.064}, {'end': 720.278, 'text': "I don't know.", 'start': 719.857, 'duration': 0.421}, {'end': 725.283, 'text': "I think we're trying to put things into web standards that can be standardized across browsers.", 'start': 720.298, 'duration': 4.985}, {'end': 731.587, 'text': 'So the main value of Brave will be the trust users have in us and our ability to give the best deal to users.', 'start': 725.323, 'duration': 6.264}, {'end': 734.968, 'text': 'So 70% of the gross ad revenue we give to the user.', 'start': 731.647, 'duration': 3.321}, {'end': 738.89, 'text': 'And if they go through that KYC process I mentioned, they can take it out.', 'start': 735.548, 'duration': 3.342}, {'end': 740.17, 'text': 'They can also give it back.', 'start': 739.25, 'duration': 0.92}, {'end': 741.491, 'text': 'They could take some out, give the rest back.', 'start': 740.19, 'duration': 1.301}, {'end': 744.572, 'text': 'They can add basic attention tokens to give back.', 'start': 741.531, 'duration': 3.041}, {'end': 748.935, 'text': "Some of them turn off the ads because they just don't like ads, but they put in $20 a month.", 'start': 745.092, 'duration': 3.843}, {'end': 751.257, 'text': 'So I believe Zuko of Zcashframe does that.', 'start': 748.955, 'duration': 2.302}], 'summary': 'Brave offers 70% of ad revenue to users, building trust and promoting web standards.', 'duration': 36.344, 'max_score': 714.913, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw714913.jpg'}], 'start': 351.754, 'title': "Blockchain, regulation, and brave's ad model", 'summary': "Discusses the challenges of blockchain regulation, the potential impact of government regulations on cryptocurrency transactions, the role of web browsers in creating a more private online experience, and brave's ad model that gives 70% of gross ad revenue to users, potentially challenging google's ad dominance.", 'chapters': [{'end': 616.891, 'start': 351.754, 'title': 'Blockchain, regulation, and the browser', 'summary': 'Discusses the challenges of blockchain regulation, the potential impact of government regulations on cryptocurrency transactions, and the role of web browsers in creating a more private and valuable online experience.', 'duration': 265.137, 'highlights': ["The regulators are pushing for more identification and compliance in cryptocurrency transactions, including the requirement to know the identities of users at certain thresholds. The regulators, including the Treasury Department's FinCEN agency and the Office of Foreign Asset Control's OFAC, are imposing stricter identification and compliance requirements for cryptocurrency transactions, potentially necessitating the disclosure of user identities at specific thresholds.", 'The chapter acknowledges the potential of cryptocurrencies and the benefits of peer-to-peer transactions while recognizing the need for pragmatic approaches given regulatory challenges. Acknowledging the potential of cryptocurrencies for peer-to-peer transactions, the chapter emphasizes the need for pragmatic approaches in light of regulatory challenges to ensure compliance and user identification.', 'The discussion highlights the role of web browsers in creating a more private and valuable online experience, aiming to empower users to block tracking and social networks while realizing the value of their data. The chapter emphasizes the role of web browsers in empowering users to block tracking and social networks, enabling them to keep their data defended and realize its value, thereby creating a more private and valuable online experience.']}, {'end': 819.165, 'start': 617.351, 'title': "Brave's ad model and its impact on the internet", 'summary': "Discusses how brave's ad model uses anonymous audience and machine learning to select ads from fixed catalogs, giving 70% of gross ad revenue to users, potentially challenging google's ad dominance and reshaping the internet's economic dynamics.", 'duration': 201.814, 'highlights': ["Brave's ad model gives 70% of gross ad revenue to users, potentially reshaping the internet's economic dynamics. The browser allocates 70% of the gross ad revenue to users, providing the potential to reshape the economic dynamics of the internet.", "Machine learning selects ads from fixed catalogs, without tracking users, potentially challenging Google's ad dominance. The machine learning system selects ads from fixed catalogs without tracking users, potentially posing a challenge to Google's ad dominance.", 'The catalog is fixed across a large population and updated once a day, potentially impacting a wide user base. The fixed catalog is updated daily across a large population, suggesting potential impact on a wide user base.', "Brave's model aims to standardize web standards and reduce counterparty risk, potentially leading to a better internet ecosystem. Brave aims to standardize web standards and reduce counterparty risk, potentially contributing to a better internet ecosystem.", 'Usage of basic attention tokens and KYC process, potentially offering users different options for managing ad revenue. The use of basic attention tokens and a KYC process offers users various options for managing their ad revenue.']}], 'duration': 467.411, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw351754.jpg', 'highlights': ['The regulators are imposing stricter identification and compliance requirements for cryptocurrency transactions, potentially necessitating the disclosure of user identities at specific thresholds.', 'The chapter emphasizes the need for pragmatic approaches in light of regulatory challenges to ensure compliance and user identification for peer-to-peer cryptocurrency transactions.', 'The chapter highlights the role of web browsers in empowering users to block tracking and social networks, enabling them to keep their data defended and realize its value, thereby creating a more private and valuable online experience.', "Brave's ad model allocates 70% of the gross ad revenue to users, potentially reshaping the economic dynamics of the internet.", "The machine learning system selects ads from fixed catalogs without tracking users, potentially posing a challenge to Google's ad dominance.", 'The fixed catalog is updated daily across a large population, suggesting potential impact on a wide user base.', 'Brave aims to standardize web standards and reduce counterparty risk, potentially contributing to a better internet ecosystem.', 'The use of basic attention tokens and a KYC process offers users various options for managing their ad revenue.']}, {'end': 1079.615, 'segs': [{'end': 907.047, 'src': 'embed', 'start': 877.45, 'weight': 0, 'content': [{'end': 877.91, 'text': 'It might happen.', 'start': 877.45, 'duration': 0.46}, {'end': 881.873, 'text': "So Brave might inspire Google to completely change the way they're doing things in the browser?", 'start': 878.19, 'duration': 3.683}, {'end': 889.438, 'text': "They're already doing something you may have read about called the Privacy Sandbox or Flock, which they have this bird metaphor going.", 'start': 881.913, 'duration': 7.525}, {'end': 899.543, 'text': 'Turtle Dove Fledge, but these systems have been very googly, kind of over-engineered and yet depending on differential privacy,', 'start': 890.359, 'duration': 9.184}, {'end': 900.724, 'text': 'which has weakness over time.', 'start': 899.543, 'duration': 1.181}, {'end': 907.047, 'text': "if you know how that works, it's kind of injecting noise to hide you in a crowd, but over time an adversary can pull you out of the crowd.", 'start': 900.724, 'duration': 6.323}], 'summary': "Google's privacy sandbox and flock may change with brave's influence, using differential privacy, but it has weaknesses over time.", 'duration': 29.597, 'max_score': 877.45, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw877450.jpg'}, {'end': 947.375, 'src': 'embed', 'start': 918.977, 'weight': 3, 'content': [{'end': 921.859, 'text': "It's gonna be more like pieces of what we do in Brave,", 'start': 918.977, 'duration': 2.882}, {'end': 927.245, 'text': 'this anonymous ad matching or the blind signature cryptography we use to confirm the ad impressions.', 'start': 921.859, 'duration': 5.386}, {'end': 928.866, 'text': "That's David Chaum's invention.", 'start': 927.325, 'duration': 1.541}, {'end': 930.627, 'text': 'that could get standardized.', 'start': 929.767, 'duration': 0.86}, {'end': 932.288, 'text': 'In fact, some of that is being standardized.', 'start': 930.687, 'duration': 1.601}, {'end': 937.79, 'text': "Even Google's, in favor of so-called trust tokens, which are Xiaomi and blind signature certs,", 'start': 932.628, 'duration': 5.162}, {'end': 940.952, 'text': "but they're not using them for ad confirmations because they don't want to blow up their own business.", 'start': 937.79, 'duration': 3.162}, {'end': 947.375, 'text': 'And they need to let some of the publishers they serve have other ad tech scripts on the page.', 'start': 941.792, 'duration': 5.583}], 'summary': "David chaum's invention, blind signature cryptography, and trust tokens are being standardized, with google favoring trust tokens for ad confirmation.", 'duration': 28.398, 'max_score': 918.977, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw918977.jpg'}, {'end': 1001.373, 'src': 'embed', 'start': 970.192, 'weight': 1, 'content': [{'end': 977.393, 'text': "And if you give the users a better browser that's faster, then you'll get enough users to give back or support publishers.", 'start': 970.192, 'duration': 7.201}, {'end': 981.378, 'text': 'The speed and the battery savings and the data plan savings are significant.', 'start': 978.134, 'duration': 3.244}, {'end': 989.269, 'text': "There's so much bad JavaScript involved in ad tech that if you block it and you sort of chop off the what's called the programmatic waterfall which chains a bunch of requests.", 'start': 981.398, 'duration': 7.871}, {'end': 991.37, 'text': "Yeah, that's one of the incredible things about Brave.", 'start': 989.389, 'duration': 1.981}, {'end': 1001.373, 'text': "I guess you're saying you should attribute it to the fact that the messy JavaScript no offense is.", 'start': 991.57, 'duration': 9.803}], 'summary': 'Improving browser speed leads to significant battery and data plan savings, and supports publishers by blocking bad javascript in ad tech.', 'duration': 31.181, 'max_score': 970.192, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw970192.jpg'}, {'end': 1055.955, 'src': 'embed', 'start': 1030.143, 'weight': 2, 'content': [{'end': 1035.983, 'text': "I know Google engineers could make everything super efficient, but they can't, especially in antitrust court, do it.", 'start': 1030.143, 'duration': 5.84}, {'end': 1038.665, 'text': 'They cannot take over all the publishers and do that.', 'start': 1036.025, 'duration': 2.64}, {'end': 1041.787, 'text': "They're trying with accelerated mobile profile, AMP.", 'start': 1038.685, 'duration': 3.102}, {'end': 1043.667, 'text': "They're trying to pull publishers.", 'start': 1041.807, 'duration': 1.86}, {'end': 1046.329, 'text': "They're like, oh, you poor publishers don't know how to make your pages fast.", 'start': 1043.688, 'duration': 2.641}, {'end': 1048.371, 'text': 'Put them on our AMP system.', 'start': 1047.21, 'duration': 1.161}, {'end': 1050.552, 'text': "We'll give you extra placement in the search carousel.", 'start': 1048.431, 'duration': 2.121}, {'end': 1055.955, 'text': "That's an antitrust problem for one, but it's also publishers we talk to hate it because it degrades their brand.", 'start': 1050.932, 'duration': 5.023}], 'summary': "Google's attempts with amp raise antitrust concerns and degrade publishers' brands.", 'duration': 25.812, 'max_score': 1030.143, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw1030143.jpg'}], 'start': 820.186, 'title': "Brave's impact on browsers", 'summary': "Discusses brave's potential impact on the browser industry, including its potential to inspire google to change its privacy practices, challenges of standardizing privacy features, the advantages of brave in terms of speed and efficiency, and the implications for publishers and creators.", 'chapters': [{'end': 1079.615, 'start': 820.186, 'title': "Brave's impact on browsers", 'summary': "Discusses brave's potential impact on the browser industry, including its potential to inspire google to change its privacy practices, the challenges of standardizing privacy features, the advantages of brave in terms of speed and efficiency, and the implications for publishers and creators.", 'duration': 259.429, 'highlights': ["Brave's potential to inspire Google to change its privacy practices Brave's innovative features may prompt Google to reconsider its approach to privacy, such as divesting from DoubleClick, in response to growing antitrust concerns and the need for genuine innovation.", "Challenges of standardizing privacy features The standardization of privacy features, such as anonymous ad matching and blind signature cryptography, faces obstacles due to Google's Privacy Sandbox and the complexities of preserving user privacy while accommodating various ad tech scripts on publishers' pages.", "Advantages of Brave in terms of speed and efficiency Brave's efficiency, speed, and battery savings, attributed to blocking bad JavaScript and programmatic waterfall, demonstrate its significant impact on user experience, data plan savings, and battery consumption, outperforming even Chrome in terms of speed.", "Implications for publishers and creators The chapter highlights the power shift towards users and the potential for Brave to empower publishers and creators by offering a faster browser that benefits users and, in turn, supports publishers, challenging Google's attempts to control publishers through AMP and other initiatives."]}], 'duration': 259.429, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/2gWTXWFxtjw/pics/2gWTXWFxtjw820186.jpg', 'highlights': ["Brave's potential to inspire Google to change its privacy practices Brave's innovative features may prompt Google to reconsider its approach to privacy, such as divesting from DoubleClick, in response to growing antitrust concerns and the need for genuine innovation.", "Advantages of Brave in terms of speed and efficiency Brave's efficiency, speed, and battery savings, attributed to blocking bad JavaScript and programmatic waterfall, demonstrate its significant impact on user experience, data plan savings, and battery consumption, outperforming even Chrome in terms of speed.", "Implications for publishers and creators The chapter highlights the power shift towards users and the potential for Brave to empower publishers and creators by offering a faster browser that benefits users and, in turn, supports publishers, challenging Google's attempts to control publishers through AMP and other initiatives.", "Challenges of standardizing privacy features The standardization of privacy features, such as anonymous ad matching and blind signature cryptography, faces obstacles due to Google's Privacy Sandbox and the complexities of preserving user privacy while accommodating various ad tech scripts on publishers' pages."]}], 'highlights': ["Brave's ad model allocates 70% of the gross ad revenue to users, potentially reshaping the economic dynamics of the internet.", 'Blocking ad tech JavaScripts in the browser disrupts the advertising flow of money from the brands and their agencies to the publishers, potentially reshaping the digital advertising landscape.', 'Brave enables direct payments and ad revenue share for private ads, providing an alternative revenue model for publishers and creators.', "The machine learning system selects ads from fixed catalogs without tracking users, potentially posing a challenge to Google's ad dominance.", "Brave's potential to inspire Google to change its privacy practices Brave's innovative features may prompt Google to reconsider its approach to privacy, such as divesting from DoubleClick, in response to growing antitrust concerns and the need for genuine innovation.", 'The chapter emphasizes the need for pragmatic approaches in light of regulatory challenges to ensure compliance and user identification for peer-to-peer cryptocurrency transactions.', 'The regulators are imposing stricter identification and compliance requirements for cryptocurrency transactions, potentially necessitating the disclosure of user identities at specific thresholds.', "The standardization of privacy features, such as anonymous ad matching and blind signature cryptography, faces obstacles due to Google's Privacy Sandbox and the complexities of preserving user privacy while accommodating various ad tech scripts on publishers' pages.", 'A portable subscription system is explored as a potential solution to traditional subscription challenges.', "Startups like Tony Hale's Scroll are investigating portable subscription systems.", 'Established publishers like the New York Times face complexities and upcharges for digital content subscriptions.', "Ethereum's smart contract capabilities are preferred over Bitcoin for micropayments due to high fees and congestion.", 'Ad tech vendors take a significant portion of ad revenue, with an example of an intermediary vendor taking 70% of the revenue.', 'Ad tech intermediaries facilitate fraud and fake news through audience information sharing and exploitation.', 'The use of basic attention tokens and a KYC process offers users various options for managing their ad revenue.', 'Brave aims to standardize web standards and reduce counterparty risk, potentially contributing to a better internet ecosystem.', 'The chapter highlights the role of web browsers in empowering users to block tracking and social networks, enabling them to keep their data defended and realize its value, thereby creating a more private and valuable online experience.', "Advantages of Brave in terms of speed and efficiency Brave's efficiency, speed, and battery savings, attributed to blocking bad JavaScript and programmatic waterfall, demonstrate its significant impact on user experience, data plan savings, and battery consumption, outperforming even Chrome in terms of speed.", "Implications for publishers and creators The chapter highlights the power shift towards users and the potential for Brave to empower publishers and creators by offering a faster browser that benefits users and, in turn, supports publishers, challenging Google's attempts to control publishers through AMP and other initiatives."]}