 So parlaying off Anastasia's talk, can you raise your hand if you're a scientist? We have one scientist in the room. Can you raise your hand if you're a Web3 person? Okay, and then what about if you deploy checks to your capital allocator? Okay, all right, great. So I'll keep this more focused than on the Web3 things, but I'd like to advocate for the need to regenerate how we fund science. So just quick background on myself. I started two science startups. I'm a YC alum. I co-founded the Deep Tech Fellowship at Ondec, and now I'm leading Deci Investments at Orange Dow, which is the Dow of YC alumni. And there's no doubt in anyone's mind that science is absolutely magical. It touches every part of our everyday. I mean, I'm only giving this presentation here because we have the magic of science. But science is getting less bang for its buck. Although we've seen an exponential increase in the number of PhDs that have come out of universities, the Nobel Prize laureates have flatlined. And Einstein said that if he had an hour to study a problem, he would spend 55 minutes examining the contexts, the details of that problem, and only five minutes brainstorming the solutions. So I'd like to bring you through some of the problems that we're experiencing in traditional science and science funding, starting with universities. So when I was a scientist at university, I would have to spend a lot of time trying to go in and actually get grants for the research that I wanted to do. It turns out if you query scientists, about half their time is spent looking for grants. The universities already have a phenomenal brand, so they're indifferent to a lot of what the market forces are, and they're focused on prestige and publications instead of making real-world impact. So that real-world impact is left to the entrepreneurial scientists at universities to fight their way through the system and actually bring this to life. Now if you look at the NSF and the A&H, which are the primary grand tours, again, 50% of the scientist's time is wasted or spent, actually trying to get these grants, but they're slow to move, they're inefficient, and usually about half of the capital ends up going to the universities as a toll for all the administration that's needed to get done to keep all the lights on, et cetera. And what's also hilarious is that you actually are supposed to take some of that grant that you tirelessly worked to go get in order to pay a publication to post your literature. It's pathetic. At the end of the day, fiat papers are practically dead, right? They're just PDFs that get published somewhere and then they're never seen again. We absolutely can do better, right? And finally, when we look at venture capital, they have a fiduciary responsibility of returning capital to their LPs. And so a lot of these science projects don't have the billion dollar TAMs to support venture investment, so we have to find a better way. We're looking at new funding mechanisms, and by the way, this is Dolly Art, so one example of how science can actually really make real-world impacts, it's the beautiful art we're seeing here. So ViBio, who actually launched two days ago with $12 million, is creating partnerships for folks with rare genetic diseases to find one another and to find private investigators that'll actually help them look for treatments for the rare genetic disease. So these guys are a Web3 company, but married by them is a Web2 company who for this rare genetic disease that impacts the sodium channel for folks, where there's only 30 patients globally, Ethan Perlstein with Perlara Bio was able to in January of this year bring capital together and help these folks, again, hire a private investigator to look at their rare genetic disease. At the base case, these folks will receive personalized attention in a way that no other doctor or no other researcher could have given to them, and because they all share the same genetic issue, we can now cross-correlate and see what are the things that might actually make your condition worse. Is eating a banana going to hurt everyone in your cohort if it hurts just you? Right, in a good case, we can actually find new treatments because now we have an end of 30 as opposed to just trying to go through the end of one for one person's rare disease where they're interacting with their primary care physician. And in the moonshot case, we're actually able to find a new class of drugs that are going to go from helping just those 30 individuals to potentially millions and millions of people. And so there's an opportunity for patients to be the ones that are making the initial investments, and then since they have the biggest empathy for rare disease, be the ones to call the shots and where that capital gets reinvested if a moonshot case is hit. And this isn't fantasy, these are just five of a handful of Web 3 DAOs and organizations that are working on making exactly what I said a reality. Lab DAOs making open tools, Valley DAOs focused on bio-manufacturing, HairDAOs helping men and women with hair loss, Deci Labs is building scientific nodes, and VitaDAO is democratizing longevity funding. These are all projects that you can get involved with today that you can donate to today. These are real scientific innovations. So again, coming off on Anastasia's talk, we have the ability to take this further and create our own FROs from a fertility DAO to cancer DAO or my personal favorite, the next generation semiconductor superior to silicon DAO. For those that don't know, I'm a materials engineer. My first startup, we were 3D printing solar cells, so I'm always excited to see what new materials can help us push through Moore's law, and now I have the infrastructure to build a community around that and actually capitalize that research project. So any scientist will have the ability to kickstart whatever research project it is that they want and have the folks that contribute to that kickstarter be shareholders or along for the ride to contribute their talent, to contribute their time, to contribute any kind of resources that they wanna bring to the table. Right now, GR14 is available where you can go and actually fund some of these projects. Currently, there are web two solutions. This is experiment.com. The founder's giving a talk at Protocol Labs today, but we need a native web three solution that allows folks to participate with the liquidity that they've already generated from aping into things like NFTs early on. Requesting research funding isn't new, right? The XPRIZE has built a career of doing this. Elon Musk put in $100 million for climate removal, carbon sequestration to help with climate change. But again, we can target anything imaginable. We can make bounties for specific enzyme binding that might target the next version of baseline cancer therapeutics. We could be searching for room temperature semiconductors. I mean, think about all the lab space that's not being utilized because COVID's keeping folks from being able to do the research they'd like to. That's CAPEX that's just sitting there unused. We can put that CAPEX to work. We can figure out finally a way to make low cost insulin that moves around the entire patent system so that way folks that have diabetes don't have to die because they can't afford the insulin from pharmaceutical companies. And another, again, pet favorite of mine is quantum computing. We could allocate a prize for the first person who makes a stable 10,000-bit quantum computer. Now, the question I often get is why Web3, right? Like, can't you just do this with the Web2 solutions that we have right now? And frankly, we can do a lot of what we want to do with Web2 solutions, but Web3 gives us a few unique benefits. The first in is absolutely built-in escrow systems. You know that when someone tells you that that check, that fund being secured is secured, you can see it on chain. You can see that it's in that protocol. You can check ether scan. You can make sure that you're not getting rug pulled. The second is the transparency in those transactions allow you to see who the players are in the game. Instead of trying to obfuscate some grassroots movement to try and finesse an organization, you can actually follow the trail down and see who's participating. Next, we can actually find those who are credible and who have really put their money where their mouth is and reward them. And on the flip side of that, those who publish claims that we find out are faulty. We can start to hold them accountable because we have an on-chain record in the same way that you might have a research gate profile that'll show you, okay, actually you continue to publish fraudulent research. Now we have a record showing how, when and in what style you do so. And then finally, anyone anywhere with an internet connection can contribute. You don't need to be a PhD student at MIT. If you were really interested in quantum mechanics, you could help push that frontier forward from anywhere. A lot of people forget this, but science is the infrastructure. It's the bridge that brings us from where we are today into the future that everyone wants to live in. Into the post-scarcity future that we can come together to create, but we have to understand the past in order to know where we're going. Katlyn Caraco, the inventor of the mRNA vaccine, was unfundable for a decade. She petitioned the NSF and the NIH to give her funding for this mRNA research that she wanted to do and repeatedly was denied over and over and over again. She had to funnel money from one of her other grants to do chemistry really when she shouldn't be in order to prove to the world that she had something that she knew was going to work. And I'm thankful that she was as persistent and courageous as she was. Nikola Tesla, arguably the best inventor of his time, died penniless. And so we know that when we can coordinate, focus people together, bring together the right resources, and at the end of the day, have a common mission, we can do really, really impactful things and sometimes extraordinarily dangerous things, right? The Manhattan Project took an idea from a nuclear bomb and in just three years made it a reality. And so we're working with technologies here that are literally world impacting and with great power comes great responsibility. Again, the factor that ties all of this together is us working together, us being focused and pulling together the right resources to make the impacts that we want to in the world. Now, I was memeing earlier about fiat papers and how they're basically dead artifacts as soon as they get published, but we have an opportunity to create NFT papers and that might resonate here a little bit more with the folks in Web Three. I mean, there's a whole host of benefits. My favorite one is that everything is actually gonna be publicly available, so you don't need to have projects like Sci Hub where you illegally backdoor to go grab papers. You know, once again, science is a public good, we all understand that. If you're in the US, your tax dollars have gone to fund hundreds of billions of dollars worth of science projects and yet you need to pay to access these, it makes absolutely no sense, right? The Library of Alexandria that will end up building here will be unburnable, unlike our historical unfortunate precedents. And as this space continues to get built, in the same way that we've seen DeFi protocols act like little plugins that lego together to make bigger and bigger, more complicated stacks brought to life, as we start to build the DeFi protocols, we'll see the same kind of evolution in the space where you can imagine things like futures on research getting traded and whatnot. I mean, we can have a very long discussion of if we should do that, but the question is, it's all entirely possible. All the innovation we've seen in DeFi can be applied to DeSci. At the very least, let's say all of this goes to zero, right, nothing of what I articulated makes any sense, you can at least understand the value of an NFT paper as a collectible. Bill Gates certainly did, he bought Da Vinci's notebook, this one right here for $30 million at auction at Sotheby's just a few years ago. What do you think Nikola Tesla's original patents will be worth if they were minted as an IP NFT? And again, with his stamp, so it's a one of one, you see Nikola Tesla's ETH address minted on chain. Or something close to home, what about Catlin Caro's original mRNA paper? This is a piece of history that we owe the ability for all of us to congregate here today to, we can't take that away. So in the way Bitcoin allowed folks to own their own money, IP NFTs allow you and scientists around the world to own their IP and decentralized science allows anyone anywhere to build and contribute to our global tree of knowledge. Now unfortunately, I don't have enough time to actually dig into what it would take to build the tree of knowledge, what that would mean for society, but you can kind of think about a Wikipedia that goes down to the very root base data points and those data points would be published on something like IPFS that was accessible for anyone anywhere to go in and build the conclusions, the graphs, the tables, the charts, all the supporting evidence that goes into a scientific paper. And we know that when Harvard or MIT publishes a scientific paper, those data points are then sensationalized and turn into headlines by media. And then when those headlines are continuing to be retweeted, governments find out about them and then they make, they pass laws based on the sensational headlines. But finally, we can go back and find the root cause open to everyone, the root data anyone can analyze and we'll no longer have controversy around what is a story, what's getting spun, we can all go back to the root data and see what it says. So where does this go? Let's imagine on the flip side that all this does work, that I'm not as crazy as I might look. Well, we'll actually be able to build, like I mentioned, that global accessible tree of knowledge with all of the innovations that we've been able to manifest as a species and we'll continue to build. Scientists will be able to live in their own zone of genius. We'll be able to abstract away all the intellectual property, all the MNA, all of the things that keep them from working on what they do best. At the end of the day, all the time a scientist loses, not working in the lab, is time wasted for us to bring that future that we also want, that post scarcity future closer to the present. And then finally, in the theme of Y Combinator, when we have aligned incentives, we actually get to make what people want. So finally, I'd like to invite you all, if you'd like to continue to build, if you'd like to continue to learn more, I'm hosting Deci Boston this September. You can scan the QR code if you'd like or go to DeciBoston.com. But thank you all so much and I hope you enjoyed. Thank you so much. Thanks.