 Thank you, Balaji. Very popular. We're not YouTubers, just to be clear. I was here, actually, I was at the network state last year and I expected it to be the same as last year. It was 20 people at a penthouse and I was very shocked to see so many people coming today. So Balaji, you've had some exponential growth. It's really exciting. Okay, so I came here today to talk about media. It's the only thing I understand and specifically I want to talk about building communities, aka countries, on top of social media in 2023, okay. I came to this conference because I'm really fascinated with the idea of building your own country. And I really believe somebody here in the audience at some point will build their own country. Maybe it's you. Maybe it's you. Maybe it's you. Okay, whatever it is, it's going to happen, whether it's tomorrow or 10 years or 20 years from now. Now, my bet is that this new virtual country will start as a TikTok account. It will start as a Twitter account. It will start as a YouTube channel. So I've been breathing and living every single day social media for the last seven to eight years. I understand a thing or two about social media. We built a channel called Nas Daily on top of every social media that exists. Instagram, TikTok, Facebook, YouTube, Snapchat, Douyin in China. Okay, maybe V-Contact at some point. And we've grown it to roughly 60 million followers in 13 different languages. It is possible. It was possible to build a business and a community and a country on top of social media. So it's not possible today. And I'm going to talk about why. I'm going to talk about the past of social media, the present of social media, and the future of social media. The past of social media looked something like this. From 2015 to 2021, if you wanted followers, if you wanted a community, just start a YouTube channel, start a Twitter account, start a Facebook channel, and you're good. This was fine and dandy all until one problem came about. What is that problem? Does anybody know? Saturation. No, it's not saturation. We're just starting. We are 1% of the career economy. The problem is this, TikTok. This new invention from China changed the game of social media. It changed everything we know about building an online community because TikTok said, I don't give a shit about your community. All I care about is showing a nice video to my users. And I want that video to be short. And if you dance, it's even better. So clearly now it doesn't matter on TikTok. If you have 500 followers or 5 million followers, it doesn't matter. If the video is good, you will get a lot of views. If the video is bad, you're dead. We have 7 million followers on TikTok and you can get 10 million views on a video or 100,000 views. You will never know. And this was so addictive that every social media in the world copied it. They were like, oh, I'm going to become TikTok. YouTube copied it with YouTube shorts. Facebook copied it with Facebook Reels. Instagram copied it with Instagram Reels. Now all social media roughly functions the same. This is the present of social media where it's very, very algorithmically driven. Now, can you build a country on top of an algorithm? No, you cannot. Imagine there's a tornado and the president of a country wants to inform the citizens of the tornado and the algorithm says, nah, I'm just not going to tell them about the tornado. It's like, what? Like these are my citizens. So it is impossible to build a business or a community or a country for that matter on top of social media. That's why community 1.0 has a problem. It has become a billboard. It's just TV. The creator doesn't matter. It's just the video that matters. And the only one getting rich, who's getting rich in this scenario? The stock owner of the platform. That's it. That's the only person getting rich, the employee and the investor of TikTok and social media platform. So where is social media going from here? In my opinion, the future of social media looks something like this. There needs to be a layer 2 solution on top of social media. Just like we built it for blockchain, we need to build it for social media. And in this layer 2 solution, there is no goddamn algorithm. There's no algorithm. Your community, your ownership, you own the data, you own the audience, you own it all. And actually, we're starting to see a little bit of that happening today. Why do you think discord is big? Why did discord blow up during COVID? You see it in the discord chat groups. You see it in the telegram groups. You see it in WhatsApp. You see it in Slack. We're actually building our own platform as well called mass.io, which is similar to that idea. It gives you a private space where you control your community and you are the one making the money. And I think in the future, there's going to be a huge explosion of these platforms that sit on top of social media. There's also Patreon. There's also Substack, by the way. And when you design social media from the beginning, it has to be creator first. It should not be algorithm first or user first. The founder is what matters because the founder of the country is the one that's going to make the country. Countries don't happen organically. And so in this scenario, the founder of the community should be able to make money and own the community. Can anybody guess? How much money do we make from a million views on YouTube? 5K? 200, what? 10 pounds? No, not 10 pounds. 5K may be in America, but if it's international, it's 1K. If it's in India, $200. If it's in other countries, so from $200 to 5K, but the average is 1K. How much money do we make from 1 million views on top of TikTok? Zero. It does not work. The economics do not work. And that's why you should not need a million people to make $1,000. You should be able to make $1,000 from 100 people. That is the only way to build a sustainable business and a sustainable community. And so eventually, this is what I think will happen. People used to make $0 at the beginning of the internet, then roughly $10,000 if you're a community builder from Facebook channels, maybe some Reddit's, maybe some YouTube's. Actually, most YouTubers are broke. Do not be fascinated with the top 1%. Most content creators today are still broke. Eventually, you'll start to see the sub-stacks and the patreons and the NAS IOs making $100,000 a month from their community. And eventually, somebody will make $1 million a month from an online community that's no more than 10,000 people. And when that happens, when that happens, you'll have a big business. And when you build a big business, eventually that big business will give more benefits to its members. It will give healthcare. Then it will give real estate, locations to meet at, travel together. Let's do things together. And eventually, it will give you a passport. And eventually, it will function like a state. This is the natural flow that I suspect will happen for anybody that wants to build a virtual online country in the future. So just to summarize in the last minute, no more slides. Just to summarize in the last minute, you're going to get attention on social media. Here's my TikTok. Here's my YouTube. Here's my Facebook. Then you're going to get money on another social media, which is the sub-stacks, the NAS IOs, the patreons, and whatnot. You'll build that community. And then eventually, that'll be a big business. And eventually, it'll become ideally a country. Maybe tomorrow, maybe 10 years from now. But I'm really excited for that future. Thank you guys. Before we go, I just want to take one video, if we can turn back the lights on. Can you turn back the lights on? I want to take one video for social media. Maybe we'll turn this into a video. I'm going to say welcome to, and I want everybody to say the network state. But I want your energy. So let's test. Can you light up the audience? So I'm going to say this. This is a test. Can you light up the audience, please? So I'm going to say welcome to, what the fuck is this energy? Come on, guys. The network state. Okay? More energy. Okay? One, two, three. Welcome to the network state. Okay, let's do one more time, guys. One more time. The network state. Not the network state. The network state. Okay? Let's light up the audience again. And let's do, yeah, making confidence hard. Get, you know how much money we'll make from this? Zero. One, two, three. Welcome to...