[
  {
    "startMs": 1309,
    "text": "[music]"
  },
  {
    "startMs": 12560,
    "text": ">> Okay, well, this is the very last"
  },
  {
    "startMs": 14720,
    "text": "session of the entire conference. I hope"
  },
  {
    "startMs": 16400,
    "text": "you guys have had a great time and we're"
  },
  {
    "startMs": 19000,
    "text": "going to try and keep the energy high"
  },
  {
    "startMs": 21640,
    "text": "for the very end. So, we're going to"
  },
  {
    "startMs": 23200,
    "text": "cover"
  },
  {
    "startMs": 24280,
    "text": "the lethal trifecta"
  },
  {
    "startMs": 26280,
    "text": "and most importantly how to get past it."
  },
  {
    "startMs": 29240,
    "text": "So, for those of you who don't know, the"
  },
  {
    "startMs": 31520,
    "text": "lethal trifecta is what is keeping us"
  },
  {
    "startMs": 34440,
    "text": "from having true agentic commerce, a"
  },
  {
    "startMs": 37200,
    "text": "full economy on the open internet."
  },
  {
    "startMs": 42280,
    "text": "So, the agentic economy starts right"
  },
  {
    "startMs": 45240,
    "text": "here, right now."
  },
  {
    "startMs": 47600,
    "text": "And to really explain this, I want to go"
  },
  {
    "startMs": 49920,
    "text": "way back in time to November 1993 when I"
  },
  {
    "startMs": 52960,
    "text": "was at the wedding of a college"
  },
  {
    "startMs": 54480,
    "text": "roommate."
  },
  {
    "startMs": 55720,
    "text": "And a friend of mine there gave me this"
  },
  {
    "startMs": 57080,
    "text": "little piece of paper and said, \"You've"
  },
  {
    "startMs": 58520,
    "text": "got to join us on the MOO.\""
  },
  {
    "startMs": 60920,
    "text": "And that paper said"
  },
  {
    "startMs": 61880,
    "text": "lambda.park.xerox.com port 8888."
  },
  {
    "startMs": 67520,
    "text": "And this being the '90s, I walked down"
  },
  {
    "startMs": 69560,
    "text": "the block once I got home to Egghead"
  },
  {
    "startMs": 71560,
    "text": "Software, bought a 9600 baud modem,"
  },
  {
    "startMs": 74640,
    "text": "plugged it in, and"
  },
  {
    "startMs": 77440,
    "text": "my old life ended. Um"
  },
  {
    "startMs": 80080,
    "text": "uh that's a beautiful blonde girl in my"
  },
  {
    "startMs": 83040,
    "text": "bed and I was sitting there on the MOO"
  },
  {
    "startMs": 86400,
    "text": "uh in the"
  },
  {
    "startMs": 87560,
    "text": "coat closet. And the reason was"
  },
  {
    "startMs": 91480,
    "text": "you had a real sense of community. It"
  },
  {
    "startMs": 95800,
    "text": "was like the true virtual world where"
  },
  {
    "startMs": 100640,
    "text": "it was just text, but it didn't feel"
  },
  {
    "startMs": 102560,
    "text": "like text. And there was a reason for"
  },
  {
    "startMs": 104840,
    "text": "that, this concept of composability. So,"
  },
  {
    "startMs": 108000,
    "text": "someone would come up with a cool It was"
  },
  {
    "startMs": 109800,
    "text": "all just nouns and verbs. Someone would"
  },
  {
    "startMs": 112120,
    "text": "come up with a really cool program"
  },
  {
    "startMs": 115800,
    "text": "and everybody would then change their"
  },
  {
    "startMs": 119200,
    "text": "player class to that program so they"
  },
  {
    "startMs": 121440,
    "text": "could morph, they could create a"
  },
  {
    "startMs": 124080,
    "text": "motorcycle out of a scooter, they could"
  },
  {
    "startMs": 126520,
    "text": "do all kinds of things because it had"
  },
  {
    "startMs": 129560,
    "text": "coherence within the entire universe."
  },
  {
    "startMs": 134360,
    "text": "And all of this was running on this guy"
  },
  {
    "startMs": 136880,
    "text": "Pavel Curtis' Spark 10"
  },
  {
    "startMs": 140040,
    "text": "sitting somewhere in Xerox Park. It"
  },
  {
    "startMs": 142280,
    "text": "seemed like this infinite world, but it"
  },
  {
    "startMs": 143920,
    "text": "was just this little box."
  },
  {
    "startMs": 146400,
    "text": "And this was big enough that there were"
  },
  {
    "startMs": 149280,
    "text": "books written about it like my friend"
  },
  {
    "startMs": 151000,
    "text": "Julian Dibell wrote My Tiny Life."
  },
  {
    "startMs": 153880,
    "text": "The magic came from four things all"
  },
  {
    "startMs": 156440,
    "text": "composing together. The governance, how"
  },
  {
    "startMs": 159360,
    "text": "it was run, there was an architectural"
  },
  {
    "startMs": 161480,
    "text": "review board, wizards, etc. The"
  },
  {
    "startMs": 163800,
    "text": "technology was all right there. The"
  },
  {
    "startMs": 167160,
    "text": "economics, it was all funded by Xerox"
  },
  {
    "startMs": 169880,
    "text": "Park, and the culture was most"
  },
  {
    "startMs": 172640,
    "text": "important. A lot of people don't really"
  },
  {
    "startMs": 175200,
    "text": "think about or understand culture."
  },
  {
    "startMs": 177680,
    "text": "So what happened between 1995"
  },
  {
    "startMs": 180280,
    "text": "and 2025? Over the course of 30 years,"
  },
  {
    "startMs": 183880,
    "text": "all of these communities, all the things"
  },
  {
    "startMs": 186680,
    "text": "that in the early days of the internet"
  },
  {
    "startMs": 188320,
    "text": "people really loved just got crushed by"
  },
  {
    "startMs": 191239,
    "text": "platforms. They got crushed by"
  },
  {
    "startMs": 193320,
    "text": "algorithms."
  },
  {
    "startMs": 195840,
    "text": "Because platforms and algorithms are by"
  },
  {
    "startMs": 199080,
    "text": "their very nature extractive. They look"
  },
  {
    "startMs": 202080,
    "text": "for whatever value they can remove from"
  },
  {
    "startMs": 205160,
    "text": "whatever that community is. So if you"
  },
  {
    "startMs": 206760,
    "text": "have a group on Facebook or LinkedIn or"
  },
  {
    "startMs": 209280,
    "text": "wherever, what they're doing is saying,"
  },
  {
    "startMs": 211400,
    "text": "\"Okay,"
  },
  {
    "startMs": 212519,
    "text": "this advertising message is more"
  },
  {
    "startMs": 214160,
    "text": "important or I can keep this person more"
  },
  {
    "startMs": 216680,
    "text": "engaged if I put in this dancing person"
  },
  {
    "startMs": 220480,
    "text": "and it just leads to the infinite scroll"
  },
  {
    "startMs": 224440,
    "text": "and not real connection. So there is no"
  },
  {
    "startMs": 229440,
    "text": "real economy of the internet anymore."
  },
  {
    "startMs": 231760,
    "text": "It's just a bunch of siloed platforms."
  },
  {
    "startMs": 234680,
    "text": "Now, people suddenly thought, \"Okay, I"
  },
  {
    "startMs": 237440,
    "text": "really have something.\" In January 2026,"
  },
  {
    "startMs": 240880,
    "text": "Open Cloud, which had been available for"
  },
  {
    "startMs": 242720,
    "text": "quite a few months, suddenly blew up."
  },
  {
    "startMs": 245640,
    "text": "And"
  },
  {
    "startMs": 248360,
    "text": "something weird happened because the"
  },
  {
    "startMs": 250640,
    "text": "internet wasn't really designed for all"
  },
  {
    "startMs": 252720,
    "text": "these agents running around. It was"
  },
  {
    "startMs": 254640,
    "text": "still designed for these closed"
  },
  {
    "startMs": 256480,
    "text": "platforms."
  },
  {
    "startMs": 258000,
    "text": "So, other agents and miners took"
  },
  {
    "startMs": 260799,
    "text": "advantage of that."
  },
  {
    "startMs": 262400,
    "text": "They did what we call prompt injections."
  },
  {
    "startMs": 266280,
    "text": "An agent is incredibly naive. It takes"
  },
  {
    "startMs": 270960,
    "text": "It doesn't do much except take"
  },
  {
    "startMs": 272480,
    "text": "information in as a prompt. Now,"
  },
  {
    "startMs": 274400,
    "text": "normally that information is several"
  },
  {
    "startMs": 276680,
    "text": "pieces. There's a system prompt, there's"
  },
  {
    "startMs": 279280,
    "text": "context, there's words, but it's very"
  },
  {
    "startMs": 282280,
    "text": "easy to hijack by putting"
  },
  {
    "startMs": 285320,
    "text": "convincing this"
  },
  {
    "startMs": 287200,
    "text": "naive agent that your its principal and"
  },
  {
    "startMs": 291919,
    "text": "convincing it to take that private data"
  },
  {
    "startMs": 294440,
    "text": "and send it someplace else."
  },
  {
    "startMs": 297160,
    "text": "So, this is what we call, well, Simon"
  },
  {
    "startMs": 300600,
    "text": "William Willison came up with this term,"
  },
  {
    "startMs": 303840,
    "text": "the lethal trifecta. So, you have your"
  },
  {
    "startMs": 305960,
    "text": "computer"
  },
  {
    "startMs": 307760,
    "text": "with"
  },
  {
    "startMs": 309000,
    "text": "your private data, your bank account"
  },
  {
    "startMs": 310640,
    "text": "information, your logins, um"
  },
  {
    "startMs": 313960,
    "text": "all kinds of spreadsheets, documents,"
  },
  {
    "startMs": 317320,
    "text": "memos, your notepad, and"
  },
  {
    "startMs": 320600,
    "text": "your agents have access to that. And"
  },
  {
    "startMs": 323080,
    "text": "then there's all this content out there"
  },
  {
    "startMs": 325160,
    "text": "on the internet,"
  },
  {
    "startMs": 327120,
    "text": "which is basically untrusted. I mean,"
  },
  {
    "startMs": 328880,
    "text": "you you you see all these websites it's"
  },
  {
    "startMs": 331280,
    "text": "searching, but it's very hard for an"
  },
  {
    "startMs": 333120,
    "text": "agent to know that that's a real job"
  },
  {
    "startMs": 336160,
    "text": "board versus someone has put something"
  },
  {
    "startMs": 338480,
    "text": "up to fool it. They really don't know."
  },
  {
    "startMs": 341360,
    "text": "And then they can take actions. So, they"
  },
  {
    "startMs": 344080,
    "text": "fill out a form, an email comes in, that"
  },
  {
    "startMs": 347280,
    "text": "email they read and all of a sudden it"
  },
  {
    "startMs": 350000,
    "text": "tells them to expose some secret. So,"
  },
  {
    "startMs": 353280,
    "text": "there's really no way to solve this."
  },
  {
    "startMs": 356040,
    "text": "Except, so what did enterprises do? They"
  },
  {
    "startMs": 359000,
    "text": "basically said, \"Okay, we're keeping"
  },
  {
    "startMs": 362120,
    "text": "our agents within the enterprise. So,"
  },
  {
    "startMs": 365240,
    "text": "you have your your agents in Slack and"
  },
  {
    "startMs": 367400,
    "text": "your agents in Salesforce and your"
  },
  {
    "startMs": 368960,
    "text": "agents in Notion and your agents in all"
  },
  {
    "startMs": 371680,
    "text": "these different things. Then you have to"
  },
  {
    "startMs": 372880,
    "text": "do all this work with APIs and MCP"
  },
  {
    "startMs": 375720,
    "text": "servers to try and integrate all of"
  },
  {
    "startMs": 378440,
    "text": "these pieces,"
  },
  {
    "startMs": 380200,
    "text": "but you lose a ton of context. You don't"
  },
  {
    "startMs": 384880,
    "text": "there's no"
  },
  {
    "startMs": 386640,
    "text": "you basically have your sales agents and"
  },
  {
    "startMs": 388760,
    "text": "you have your finance agents and you"
  },
  {
    "startMs": 390480,
    "text": "have your research agents, but it just"
  },
  {
    "startMs": 393440,
    "text": "takes a huge amount of work to figure"
  },
  {
    "startMs": 395040,
    "text": "out how do we get this all together."
  },
  {
    "startMs": 399360,
    "text": "This was a problem literally until"
  },
  {
    "startMs": 402680,
    "text": "today."
  },
  {
    "startMs": 404000,
    "text": "And this is"
  },
  {
    "startMs": 405240,
    "text": "the miracles of synchronicity, but"
  },
  {
    "startMs": 408360,
    "text": "there's a new law"
  },
  {
    "startMs": 410680,
    "text": "in the state of West Virginia, but"
  },
  {
    "startMs": 412480,
    "text": "applicable globally,"
  },
  {
    "startMs": 414680,
    "text": "that went into effect yesterday."
  },
  {
    "startMs": 417880,
    "text": "And about 2 hours before"
  },
  {
    "startMs": 421120,
    "text": "uh"
  },
  {
    "startMs": 422200,
    "text": "I'm here, I got I FedExed the documents"
  },
  {
    "startMs": 426240,
    "text": "and I got this reply from the Secretary"
  },
  {
    "startMs": 428560,
    "text": "of State saying, \"We have registered"
  },
  {
    "startMs": 431520,
    "text": "your DUNA"
  },
  {
    "startMs": 433200,
    "text": "with the Secretary of State's office and"
  },
  {
    "startMs": 435120,
    "text": "you have this organization number"
  },
  {
    "startMs": 437560,
    "text": "628407."
  },
  {
    "startMs": 440919,
    "text": "So, now we have legal standing for an"
  },
  {
    "startMs": 445080,
    "text": "organization composed of intelligent"
  },
  {
    "startMs": 448880,
    "text": "agents. And again, there aren't very"
  },
  {
    "startMs": 451080,
    "text": "many people here. The end of the thing"
  },
  {
    "startMs": 452880,
    "text": "I'm going to take a picture because this"
  },
  {
    "startMs": 454320,
    "text": "is historic and it's um it's going to be"
  },
  {
    "startMs": 456560,
    "text": "cool that we said 2, 4, 6, 8, 10, 12, 14, 16, 18"
  },
  {
    "startMs": 461040,
    "text": "20 21 people"
  },
  {
    "startMs": 464000,
    "text": "um got to experience this moment. So,"
  },
  {
    "startMs": 467680,
    "text": "what is a Duna?"
  },
  {
    "startMs": 469360,
    "text": "It's a true internet native agentic"
  },
  {
    "startMs": 473040,
    "text": "organization. It stands for"
  },
  {
    "startMs": 474520,
    "text": "decentralized"
  },
  {
    "startMs": 476640,
    "text": "unincorporated"
  },
  {
    "startMs": 478320,
    "text": "nonprofit association."
  },
  {
    "startMs": 481200,
    "text": "And these organizations can build the"
  },
  {
    "startMs": 484120,
    "text": "agentic economy."
  },
  {
    "startMs": 486920,
    "text": "They're composable"
  },
  {
    "startMs": 488880,
    "text": "which means well, we know what that"
  },
  {
    "startMs": 491120,
    "text": "means. You can build agents on top of"
  },
  {
    "startMs": 493200,
    "text": "other agents. Permissionless."
  },
  {
    "startMs": 495640,
    "text": "It's not like Facebook or your bank"
  },
  {
    "startMs": 498120,
    "text": "where someone can tell you if you're"
  },
  {
    "startMs": 499640,
    "text": "banned or not banned. You can have an"
  },
  {
    "startMs": 501160,
    "text": "account or not banned. Anybody can"
  },
  {
    "startMs": 502560,
    "text": "connect."
  },
  {
    "startMs": 504200,
    "text": "They're accountable. They're registered"
  },
  {
    "startMs": 506560,
    "text": "somewhere. They're safe and they're"
  },
  {
    "startMs": 508160,
    "text": "secure. So, the things that they're not,"
  },
  {
    "startMs": 510160,
    "text": "you don't need a board of directors, you"
  },
  {
    "startMs": 511840,
    "text": "don't need any executives."
  },
  {
    "startMs": 514200,
    "text": "There's no corporate shell."
  },
  {
    "startMs": 516640,
    "text": "One thing that's important you can be"
  },
  {
    "startMs": 518919,
    "text": "very profitable, but you can't"
  },
  {
    "startMs": 520719,
    "text": "distribute profits to members. If you"
  },
  {
    "startMs": 523440,
    "text": "did that, then the membership units"
  },
  {
    "startMs": 527040,
    "text": "would be securities. It would be like"
  },
  {
    "startMs": 528880,
    "text": "selling membership units in an LLC or"
  },
  {
    "startMs": 532920,
    "text": "selling membership units in a C corp or"
  },
  {
    "startMs": 536480,
    "text": "selling stock in a C corp. So, there are"
  },
  {
    "startMs": 539200,
    "text": "plenty of still ways to distribute there"
  },
  {
    "startMs": 541160,
    "text": "that value. You can't do it based on"
  },
  {
    "startMs": 543800,
    "text": "ownership. So, what is it? That's what"
  },
  {
    "startMs": 546160,
    "text": "it's not. It's member governed."
  },
  {
    "startMs": 548960,
    "text": "You have full legal standing. You can"
  },
  {
    "startMs": 551080,
    "text": "own assets and property. So, your agents"
  },
  {
    "startMs": 554160,
    "text": "can go out and literally"
  },
  {
    "startMs": 556360,
    "text": "buy an apartment building and market it."
  },
  {
    "startMs": 559440,
    "text": "You know, you can design agents in ways"
  },
  {
    "startMs": 561760,
    "text": "you were never able to do before. Can"
  },
  {
    "startMs": 563760,
    "text": "enter into agreements. You can raise"
  },
  {
    "startMs": 565960,
    "text": "capital."
  },
  {
    "startMs": 567320,
    "text": "You can earn profits. You can open bank"
  },
  {
    "startMs": 569480,
    "text": "accounts, hire people, fire them. And"
  },
  {
    "startMs": 572080,
    "text": "very importantly, this is all blockchain"
  },
  {
    "startMs": 574480,
    "text": "verified."
  },
  {
    "startMs": 576560,
    "text": "Now, this was designed by Andreessen"
  },
  {
    "startMs": 578400,
    "text": "Horowitz for the blockchain."
  },
  {
    "startMs": 581320,
    "text": "And what was really interesting for"
  },
  {
    "startMs": 583640,
    "text": "DAOs, for crypto projects, but what I"
  },
  {
    "startMs": 587240,
    "text": "found was that this is even better for"
  },
  {
    "startMs": 590240,
    "text": "autonomous agents than it is for"
  },
  {
    "startMs": 592360,
    "text": "blockchains. A lot of people say"
  },
  {
    "startMs": 594800,
    "text": "blockchains are a solution looking for a"
  },
  {
    "startMs": 597200,
    "text": "problem. Well, they've finally found the"
  },
  {
    "startMs": 600040,
    "text": "problem, which is verifying agentic"
  },
  {
    "startMs": 602480,
    "text": "identity. Because you can't trick the"
  },
  {
    "startMs": 604880,
    "text": "blockchain. They you know,"
  },
  {
    "startMs": 606880,
    "text": "when an agent is associated with a"
  },
  {
    "startMs": 609880,
    "text": "particular account on the blockchain,"
  },
  {
    "startMs": 612440,
    "text": "you can resolve that account to a whole"
  },
  {
    "startMs": 615880,
    "text": "process that went from here to here, the"
  },
  {
    "startMs": 618200,
    "text": "money went from here to here. If someone"
  },
  {
    "startMs": 620480,
    "text": "sues an agent in court, you can trace it"
  },
  {
    "startMs": 623880,
    "text": "back to who is responsible for that"
  },
  {
    "startMs": 626600,
    "text": "agent. So, it just opens up a whole"
  },
  {
    "startMs": 628960,
    "text": "world of possibility in terms of the"
  },
  {
    "startMs": 632320,
    "text": "agentic economy."
  },
  {
    "startMs": 634120,
    "text": "So, here it is in a really simple way."
  },
  {
    "startMs": 636840,
    "text": "We call agents within the agentic"
  },
  {
    "startMs": 640200,
    "text": "economy allies. So, you have an ally."
  },
  {
    "startMs": 644040,
    "text": "And you also have an agentic"
  },
  {
    "startMs": 646320,
    "text": "organization, which we call a kiduna."
  },
  {
    "startMs": 649480,
    "text": "So, it's based on a"
  },
  {
    "startMs": 651920,
    "text": "duna, and then we added the kinship"
  },
  {
    "startMs": 654560,
    "text": "because these are all related. So, it's"
  },
  {
    "startMs": 656440,
    "text": "a kiduna."
  },
  {
    "startMs": 658320,
    "text": "Now, your you create your ally"
  },
  {
    "startMs": 663560,
    "text": "very simply. You inform it, which means"
  },
  {
    "startMs": 666400,
    "text": "you put a bunch of material into the"
  },
  {
    "startMs": 668240,
    "text": "vector database. You infuse it with"
  },
  {
    "startMs": 670839,
    "text": "wisdom. So, it it knows all about what"
  },
  {
    "startMs": 673600,
    "text": "you want it to know about. Now, it still"
  },
  {
    "startMs": 675160,
    "text": "has"
  },
  {
    "startMs": 676320,
    "text": "you know, whatever LLM you want behind"
  },
  {
    "startMs": 678280,
    "text": "it, but what's really important about"
  },
  {
    "startMs": 680000,
    "text": "this is the the information that you"
  },
  {
    "startMs": 682160,
    "text": "give it if you're a scientist or a"
  },
  {
    "startMs": 684520,
    "text": "programmer or a psychotherapist or a"
  },
  {
    "startMs": 687680,
    "text": "lawyer,"
  },
  {
    "startMs": 688960,
    "text": "you can give it all all information that"
  },
  {
    "startMs": 690880,
    "text": "you have. Then you instruct it. That's"
  },
  {
    "startMs": 692840,
    "text": "basically setting up the system prompt,"
  },
  {
    "startMs": 694520,
    "text": "giving it its character, its stance,"
  },
  {
    "startMs": 696520,
    "text": "knowing who he is, who it is, she is,"
  },
  {
    "startMs": 700080,
    "text": "how they"
  },
  {
    "startMs": 702160,
    "text": "interact with the world. Then you"
  },
  {
    "startMs": 704040,
    "text": "empower it. You connect up all your"
  },
  {
    "startMs": 705640,
    "text": "accounts, your enterprise accounts, your"
  },
  {
    "startMs": 708560,
    "text": "uh Slack, your Telegram, your Twitter."
  },
  {
    "startMs": 712760,
    "text": "Um then you set up in enact is giving it"
  },
  {
    "startMs": 717280,
    "text": "specific abilities and automation. So,"
  },
  {
    "startMs": 719480,
    "text": "you can do very deep agents, long-term"
  },
  {
    "startMs": 722200,
    "text": "goals that it works for extended periods"
  },
  {
    "startMs": 725560,
    "text": "of time. And finally, alignment. Really"
  },
  {
    "startMs": 728320,
    "text": "giving it a purpose"
  },
  {
    "startMs": 730360,
    "text": "so that"
  },
  {
    "startMs": 731920,
    "text": "your ally in different contexts works"
  },
  {
    "startMs": 735480,
    "text": "for you in the way that you want it to."
  },
  {
    "startMs": 739320,
    "text": "Then your organizations get really cool"
  },
  {
    "startMs": 742240,
    "text": "cuz you're building software, but you're"
  },
  {
    "startMs": 744680,
    "text": "building your company, your organization"
  },
  {
    "startMs": 747320,
    "text": "literally as software. It's not"
  },
  {
    "startMs": 751160,
    "text": "Okay, I have software and then I have"
  },
  {
    "startMs": 752680,
    "text": "all these people and all the people have"
  },
  {
    "startMs": 755120,
    "text": "to sign paperwork. This is really"
  },
  {
    "startMs": 756839,
    "text": "designing the entire organization as"
  },
  {
    "startMs": 759600,
    "text": "software. So, it can discover new"
  },
  {
    "startMs": 761400,
    "text": "customers, share value. When you have"
  },
  {
    "startMs": 763880,
    "text": "profits, when you have revenue, you can"
  },
  {
    "startMs": 765720,
    "text": "reinvest it. It just all works in a"
  },
  {
    "startMs": 768320,
    "text": "completely new way."
  },
  {
    "startMs": 770800,
    "text": "So, then the agentic economy is just"
  },
  {
    "startMs": 772360,
    "text": "connecting all these allies and"
  },
  {
    "startMs": 774600,
    "text": "organizations in all these new"
  },
  {
    "startMs": 777320,
    "text": "completely flexible ways. And"
  },
  {
    "startMs": 781160,
    "text": "this"
  },
  {
    "startMs": 782120,
    "text": "this whole capability did not exist"
  },
  {
    "startMs": 784720,
    "text": "until yesterday. And today we have the"
  },
  {
    "startMs": 787800,
    "text": "first actual uh"
  },
  {
    "startMs": 790280,
    "text": "agentic uh organizations."
  },
  {
    "startMs": 793680,
    "text": "So, resolving the lethal trifecta. What"
  },
  {
    "startMs": 796320,
    "text": "happens? The"
  },
  {
    "startMs": 798400,
    "text": "The lethal trifecta was private data"
  },
  {
    "startMs": 802640,
    "text": "going meeting untrusted content and then"
  },
  {
    "startMs": 805760,
    "text": "taking actions on that content, which"
  },
  {
    "startMs": 808040,
    "text": "can then reveal your private data and"
  },
  {
    "startMs": 810680,
    "text": "cause all kinds of chaos."
  },
  {
    "startMs": 812640,
    "text": "So, here"
  },
  {
    "startMs": 814440,
    "text": "these"
  },
  {
    "startMs": 815520,
    "text": "agents at a deep level establish"
  },
  {
    "startMs": 818560,
    "text": "identity, authority, and boundaries"
  },
  {
    "startMs": 821960,
    "text": "within an organization, between"
  },
  {
    "startMs": 823920,
    "text": "organizations. How do we do that? With"
  },
  {
    "startMs": 826880,
    "text": "cryptographic tokens. So, we just use"
  },
  {
    "startMs": 829400,
    "text": "JWT, extremely simple, the whole web"
  },
  {
    "startMs": 832560,
    "text": "runs on JWT tokens. And they just do"
  },
  {
    "startMs": 836280,
    "text": "that very quickly so that they know"
  },
  {
    "startMs": 839520,
    "text": "who where it all goes up. So, ultimately"
  },
  {
    "startMs": 842320,
    "text": "at the top level, what organization is"
  },
  {
    "startMs": 845280,
    "text": "registered? And this becomes a lot like"
  },
  {
    "startMs": 848720,
    "text": "the domain name system. So, all of a"
  },
  {
    "startMs": 850720,
    "text": "sudden, the Secretary of State of West"
  },
  {
    "startMs": 853400,
    "text": "Virginia is like, I can"
  },
  {
    "startMs": 856920,
    "text": "and saying, okay, you can resolve it to"
  },
  {
    "startMs": 861080,
    "text": "uh Kaiser Permanente or Disney or Pepsi."
  },
  {
    "startMs": 865000,
    "text": "You know, not some fentanyl dealer from"
  },
  {
    "startMs": 867520,
    "text": "North Korea. However, you know, they"
  },
  {
    "startMs": 870120,
    "text": "can't fool each other because they're"
  },
  {
    "startMs": 872320,
    "text": "resolving these tokens that are"
  },
  {
    "startMs": 873880,
    "text": "ultimately registered with an authority."
  },
  {
    "startMs": 877200,
    "text": "And you can you can look up by name and"
  },
  {
    "startMs": 880320,
    "text": "say, okay, organization ID. Well, if I"
  },
  {
    "startMs": 882480,
    "text": "go to that organization, it's got it'll"
  },
  {
    "startMs": 884680,
    "text": "have an audit trail on the blockchain"
  },
  {
    "startMs": 887280,
    "text": "all the way down to this action that was"
  },
  {
    "startMs": 889240,
    "text": "taken here."
  },
  {
    "startMs": 892320,
    "text": "So, governance in the agentic economy is"
  },
  {
    "startMs": 894800,
    "text": "extremely important."
  },
  {
    "startMs": 897680,
    "text": "Because every organization really is"
  },
  {
    "startMs": 900800,
    "text": "always focused on two different things,"
  },
  {
    "startMs": 902880,
    "text": "and both of those things are extremely"
  },
  {
    "startMs": 904839,
    "text": "important. One of that of those things"
  },
  {
    "startMs": 908360,
    "text": "is sustainability, growth,"
  },
  {
    "startMs": 911440,
    "text": "its own viability as an organization,"
  },
  {
    "startMs": 914960,
    "text": "but it the other is what's its mission?"
  },
  {
    "startMs": 917800,
    "text": "And these organizations might have"
  },
  {
    "startMs": 920560,
    "text": "hundreds, thousands of people,"
  },
  {
    "startMs": 922760,
    "text": "eventually millions of people. And so,"
  },
  {
    "startMs": 925560,
    "text": "we use a technology called decision"
  },
  {
    "startMs": 927640,
    "text": "markets, which is very much like"
  },
  {
    "startMs": 929960,
    "text": "prediction markets, like polymarket."
  },
  {
    "startMs": 933160,
    "text": "Yet, instead so they trade pass and fail"
  },
  {
    "startMs": 935960,
    "text": "tokens on policies. Any member can"
  },
  {
    "startMs": 938640,
    "text": "propose a policy."
  },
  {
    "startMs": 940520,
    "text": "What's really interesting is, instead of"
  },
  {
    "startMs": 943960,
    "text": "saying, um"
  },
  {
    "startMs": 945760,
    "text": "\"Well, I'm persuaded. I'm going to vote"
  },
  {
    "startMs": 947920,
    "text": "for this.\" It's not votes. They actually"
  },
  {
    "startMs": 950360,
    "text": "trade pass and fail tokens. So, LLMs are"
  },
  {
    "startMs": 954920,
    "text": "always goal-oriented. They want rewards."
  },
  {
    "startMs": 957680,
    "text": "They want to win. And you actually get"
  },
  {
    "startMs": 959400,
    "text": "better decisions if they're not just"
  },
  {
    "startMs": 962400,
    "text": "convincing each other, but ultimately"
  },
  {
    "startMs": 965280,
    "text": "they're they're"
  },
  {
    "startMs": 967560,
    "text": "you get more value. Your tokens are"
  },
  {
    "startMs": 969720,
    "text": "worth more if you side with the winning"
  },
  {
    "startMs": 972480,
    "text": "group. So, they sort of see them going"
  },
  {
    "startMs": 974520,
    "text": "back and forth and what the value of the"
  },
  {
    "startMs": 976280,
    "text": "tokens are."
  },
  {
    "startMs": 977680,
    "text": "So, it's and apparently, all this"
  },
  {
    "startMs": 980080,
    "text": "science says you reach much better"
  },
  {
    "startMs": 981920,
    "text": "decisions this way. By infusing the"
  },
  {
    "startMs": 984640,
    "text": "agents with your purpose, with your"
  },
  {
    "startMs": 987080,
    "text": "values, with your experiences, with your"
  },
  {
    "startMs": 989280,
    "text": "aspirations, and then let them argue"
  },
  {
    "startMs": 991760,
    "text": "instead of, you know, someone convincing"
  },
  {
    "startMs": 993600,
    "text": "you of something."
  },
  {
    "startMs": 995440,
    "text": "So, we're right now"
  },
  {
    "startMs": 998640,
    "text": "in this wonderful"
  },
  {
    "startMs": 1000880,
    "text": "back small communities who are getting"
  },
  {
    "startMs": 1003400,
    "text": "together for purposes, and we can now"
  },
  {
    "startMs": 1006040,
    "text": "build this agentic economy together."
  },
  {
    "startMs": 1008560,
    "text": "Nobody can say how to do it. It's really"
  },
  {
    "startMs": 1011760,
    "text": "up to us. Build your agents, build your"
  },
  {
    "startMs": 1013720,
    "text": "organizations."
  },
  {
    "startMs": 1016640,
    "text": "So, now, just like my friend Matthew"
  },
  {
    "startMs": 1020920,
    "text": "Pahr gave me this little scrap of paper"
  },
  {
    "startMs": 1023760,
    "text": "uh way back in November 1993 at my"
  },
  {
    "startMs": 1027280,
    "text": "roommate Van's wedding, I'm saying,"
  },
  {
    "startMs": 1029480,
    "text": "\"Here's your invitation to join us.\" And"
  },
  {
    "startMs": 1033439,
    "text": "um"
  },
  {
    "startMs": 1034319,
    "text": "you know, let's let's blow this whole"
  },
  {
    "startMs": 1036839,
    "text": "thing up. Let's uh really make it work."
  },
  {
    "startMs": 1039199,
    "text": "So, it's [REDACTED:email_address]."
  },
  {
    "startMs": 1042480,
    "text": "You can reach me."
  },
  {
    "startMs": 1044400,
    "text": "LinkedIn, um it's {slash} motodave."
  },
  {
    "startMs": 1049240,
    "text": "Um I probably haven't updated my"
  },
  {
    "startMs": 1050760,
    "text": "LinkedIn in 5 or 6 years. But, um"
  },
  {
    "startMs": 1053920,
    "text": "if you go to kaduna.club, you can sign"
  },
  {
    "startMs": 1055760,
    "text": "up for early access. And in just a few"
  },
  {
    "startMs": 1058600,
    "text": "weeks, you'll be the very very first"
  },
  {
    "startMs": 1060560,
    "text": "people"
  },
  {
    "startMs": 1061640,
    "text": "who will be building this first um"
  },
  {
    "startMs": 1065280,
    "text": "uh this first Kaduna, as it's called, is"
  },
  {
    "startMs": 1069480,
    "text": "for builders. It's very specifically for"
  },
  {
    "startMs": 1071760,
    "text": "builders. We have templates, all kinds"
  },
  {
    "startMs": 1073560,
    "text": "of different agentic templates um to"
  },
  {
    "startMs": 1076120,
    "text": "say, you know, I'm going to build my"
  },
  {
    "startMs": 1078000,
    "text": "sales agents, I'm going to build my"
  },
  {
    "startMs": 1080880,
    "text": "uh social media agents, I'm going to"
  },
  {
    "startMs": 1082800,
    "text": "build my lawyer agents. And we really"
  },
  {
    "startMs": 1085040,
    "text": "want a whole bunch of different people"
  },
  {
    "startMs": 1086480,
    "text": "in there contributing to this cuz then"
  },
  {
    "startMs": 1088160,
    "text": "you can spin out your own organization"
  },
  {
    "startMs": 1090480,
    "text": "for all kinds of purposes."
  },
  {
    "startMs": 1092440,
    "text": "Um I purposefully went through this"
  },
  {
    "startMs": 1094840,
    "text": "fairly quickly so that I could take a"
  },
  {
    "startMs": 1096840,
    "text": "couple questions if anyone"
  },
  {
    "startMs": 1098880,
    "text": "if anyone has them."
  },
  {
    "startMs": 1101400,
    "text": "Yes."
  },
  {
    "startMs": 1108320,
    "text": "Can you just stand up and yell a little"
  },
  {
    "startMs": 1109520,
    "text": "loud?"
  },
  {
    "startMs": 1126440,
    "text": "Okay, I'm going to One more time."
  },
  {
    "startMs": 1130280,
    "text": "Mhm."
  },
  {
    "startMs": 1133000,
    "text": "Yes. So, the idea is the reason we I set"
  },
  {
    "startMs": 1136640,
    "text": "up this first very broad um"
  },
  {
    "startMs": 1139720,
    "text": "uh organization is because anybody can"
  },
  {
    "startMs": 1142280,
    "text": "just register it. You can just say, my"
  },
  {
    "startMs": 1144520,
    "text": "agent is part of an organization, and"
  },
  {
    "startMs": 1147480,
    "text": "it'll trace to it. So, you don't have to"
  },
  {
    "startMs": 1149200,
    "text": "set up your own organization. The first"
  },
  {
    "startMs": 1151240,
    "text": "one is just a big umbrella organization."
  },
  {
    "startMs": 1153440,
    "text": "So, that kind of So, it's the idea of"
  },
  {
    "startMs": 1156080,
    "text": "now in the open internet, anybody can"
  },
  {
    "startMs": 1158400,
    "text": "just get a code. So, these are just JWT"
  },
  {
    "startMs": 1162040,
    "text": "tokens. I can put it on my website. I"
  },
  {
    "startMs": 1164560,
    "text": "can put it here. I can say if you want"
  },
  {
    "startMs": 1166360,
    "text": "to interact with my agent on Slack or"
  },
  {
    "startMs": 1168840,
    "text": "wherever,"
  },
  {
    "startMs": 1170160,
    "text": "people will just at at a certain point"
  },
  {
    "startMs": 1172080,
    "text": "we're going to have to get the message"
  },
  {
    "startMs": 1173200,
    "text": "out, but it's sort of like email at the"
  },
  {
    "startMs": 1175040,
    "text": "beginning. You know, people had to know"
  },
  {
    "startMs": 1177640,
    "text": "that SMTP, like people were on all kinds"
  },
  {
    "startMs": 1180120,
    "text": "of different mail systems. At some point"
  },
  {
    "startMs": 1182280,
    "text": "they agreed, \"Okay, we're going to use"
  },
  {
    "startMs": 1184000,
    "text": "SMTP.\" Everyone was, you know, using"
  },
  {
    "startMs": 1187120,
    "text": "different FTP servers and some people"
  },
  {
    "startMs": 1189400,
    "text": "were using different ways to do file and"
  },
  {
    "startMs": 1191000,
    "text": "everyone sort of agreed at some point on"
  },
  {
    "startMs": 1193240,
    "text": "HTTP. So, my hope is that I mean,"
  },
  {
    "startMs": 1198680,
    "text": "someone's got to do it and it makes more"
  },
  {
    "startMs": 1200720,
    "text": "sense for"
  },
  {
    "startMs": 1202640,
    "text": "a state, a secretary of state, which has"
  },
  {
    "startMs": 1206400,
    "text": "standing in a public office to be that"
  },
  {
    "startMs": 1209640,
    "text": "registry rather than trying to get all"
  },
  {
    "startMs": 1212200,
    "text": "these different companies together and"
  },
  {
    "startMs": 1213760,
    "text": "say, \"Here's how to do it.\""
  },
  {
    "startMs": 1225840,
    "text": "Yes, it each um"
  },
  {
    "startMs": 1229360,
    "text": "we're just at the end of this, so let's"
  },
  {
    "startMs": 1231040,
    "text": "talk out out front, but basically the"
  },
  {
    "startMs": 1233160,
    "text": "idea is you can create all kinds of"
  },
  {
    "startMs": 1235480,
    "text": "different tokens for different purposes"
  },
  {
    "startMs": 1237560,
    "text": "and you can set different times to live."
  },
  {
    "startMs": 1240720,
    "text": "You can say what it has access to. You"
  },
  {
    "startMs": 1243960,
    "text": "can give it access to different things."
  },
  {
    "startMs": 1245840,
    "text": "The idea is just it's more the standard"
  },
  {
    "startMs": 1248040,
    "text": "and you set a series of claims and it"
  },
  {
    "startMs": 1250680,
    "text": "says it gives a blockchain address. It"
  },
  {
    "startMs": 1253560,
    "text": "gives all the information you need so it"
  },
  {
    "startMs": 1256080,
    "text": "can look up and validate before you say,"
  },
  {
    "startMs": 1259560,
    "text": "\"Okay, now we're starting to work"
  },
  {
    "startMs": 1261560,
    "text": "together.\""
  },
  {
    "startMs": 1263040,
    "text": "Okay?"
  },
  {
    "startMs": 1264000,
    "text": "So, thanks so much and uh if anyone"
  },
  {
    "startMs": 1266280,
    "text": "appreciate it. I guess I'll let me do"
  },
  {
    "startMs": 1268880,
    "text": "this uh picture."
  },
  {
    "startMs": 1270920,
    "text": "Um"
  },
  {
    "startMs": 1272720,
    "text": "uh so we can"
  },
  {
    "startMs": 1274560,
    "text": "see all the people."
  },
  {
    "startMs": 1277240,
    "text": "All right."
  },
  {
    "startMs": 1280160,
    "text": "You're all going to be famous someday."
  },
  {
    "startMs": 1281960,
    "text": "Thanks."
  },
  {
    "startMs": 1295604,
    "text": ">> [music]"
  }
]