Jack Dorsey Talks AI, Bitcoin & The Future of Decentralization

In this insightful clip from Market Mondays, Rashad Bilal and Troy Millings sit down with tech visionary Jack Dorsey to discuss the technologies set to redefine our future—and why so many people hesitate to embrace them. Diving straight in, Rashad asks Jack a powerful question: Which technologies are flying under the radar today but could transform our lives in 5 to 10 years? Jack Dorsey shares candid thoughts on AI, acknowledging the widespread fear that it might replace jobs or stifle innovation. He argues that this “closed mindset” is what truly holds us back. Instead, Jack advocates seeing AI as a foundation—a tool for unlocking new levels of creativity and productivity and reclaiming precious time. His advice is clear: don't just take others’ word for it; hands-on experimentation is the key to understanding whether a technology can genuinely benefit you or your business. Citing the Bitcoin ethos of “don’t trust, verify,” Jack urges viewers to form opinions through experience and not be swayed by hype or second-hand perspectives. The conversation shifts as Troy asks Jack about decentralization, referencing the rise and, perhaps, fizzle of the Web3 hype. Jack pulls back the curtain on what he saw as repackaging older, centralized products under a new label—often driven by venture capital rather than any real technological breakthrough. He reminds us that every new tech wave arrives alongside massive hype, and the challenge for everyone is to ground themselves and ask: Does this tech solve a problem or add real value? Jack recounts the early days of the Internet—a frontier period marked by openness and decentralization. He laments how discovery and data creation ended up centralized in a handful of companies, tightening control over both users’ data and online identities. The good news, according to Jack, is that we finally have the technology for data portability, but it’s still inaccessible and unrefined—meaning huge opportunities for those looking to build solutions in this space! He also warns about AI’s rapid centralization, with just a few major companies shaping its future. These entities control not only the algorithms but also the intelligence itself—potentially determining how millions experience truth, creativity, and discovery. Jack stresses the need for open-source models and decentralized intelligence so the technology belongs to everyone, not just a few tech giants. Whether you’re a tech enthusiast, an entrepreneur, or simply curious where the digital world is headed, this clip is packed with practical wisdom for evaluating new technologies and finding the right mindset for real, grounded innovation. *Key topics:*

• Overcoming fear and skepticism surrounding AI
• Why hands-on experimentation beats second-hand knowledge
• Decentralization, data portability, and the lessons of early Internet history
• Web3 hype versus true technological progress
• The risks of centralizing AI—and the promise of open source models

*Watch for actionable insights on how to spot what’s real in tech, how to verify new tools for yourself, and why embracing openness is key for the future.* #MarketMondays #JackDorsey #AI #Bitcoin #Decentralization #Web3 #OpenSource #Technology #FutureOfTech #BusinessInnovation

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Episode Transcript

Speaker 1 (00:00):
What technologies do you think people are kind of sleeping
on right now that will potentially change the world in
the next five to ten years.

Speaker 2 (00:10):
I don't know if they're sleeping on them, but I
think people are hesitant with AI. Back to the first
part of our conversation, like, I think people are hesitant
because they're afraid of it replacing their work or what
they're trying to build. And I think that mindset is

(00:30):
going to end up doing that in fact, and if again,
if you instead see it as a foundation that we
can stand on, and that it's something that enables you
to do even more with less and it gives you
time back, then it's a tool like anything else. And
I think that's I think that's the scary thing right now,

(00:53):
and I think people are letting the fear keep them
from experimenting with it and keep them from just trying
it and having more of a closed mind. So I
think it's really important with any new technology to try
it for yourself. Don't trust what you read from others,

(01:14):
don't trust other opinions on it. Form your own opinion
on your experience, and you have to dive into it
and trust yourself to learn from that. Experience. It might
be challenging, it might be frustrating, Well, who cares. You're
going to learn no matter what, and you could you'll
build that learning into into something else that will be
useful for yourself, for your business. There's a there's a

(01:35):
mantra within the Bitcoin circcles which is don't trust verify,
And what that really means is like, let your experience
be the guide of everything. Make your own decisions, form
your own opinions, because you're going to get thousands of
other ones from other people, but the one true one
is what you what resonates with you after you experience
it yourself. And these tools are available to you and

(01:58):
and you know you'll be able to understand like if
if they actually enable your how they diminish you in
any way, and you can overcome them. It's a decision. Jack.

Speaker 1 (02:12):
You've been an advocate obviously for bigcoin, but you've talked
around this topic of decentralization, and over the past ten
years we've seen more institutions come into the space more
and more. I wonder, you know, a few years ago
Web three was the big talk. What are your thoughts
on decentralization now and how far away are we or

(02:34):
how soon will we see it come to fruition from
your early talks.

Speaker 2 (02:40):
Well, first, like with any of these technologies like Web three, AI, Bitcoin,
like all these things that we're talking about, Web two,
like whatever it was in the past, there's always going
to be this like massive hype cycle, and it's going
to be easy to get into that sec into that
hype without really understanding the fundamentals. So again this goes
back to like touching ground and experiencing yourself. Does this

(03:04):
actually bring value to you? Or is someone trying to
sell you something that's just repackaged but the same thing.
And I saw a lot of Web three ultimately as
a repackaging of the same thing. And what I mean
by that is like I saw a lot of vcs
who were using it as a way to rebrand something
that already existed or was still somewhat centralized and wasn't

(03:27):
really solving the problem. And it was just frustrating seat
But I realized that with every technology, technology, every new
technology that really comes up, always has a hype cycle.
So it's really up to you all and to us
to understand, like, again, does this actually give me time back?
Does this actually add value to what I'm doing. Does

(03:49):
it add value to my customers or not? And if
it doesn't, it's okay to ignore it because it'll go
away or it'll settle into something that does. I would
say that the early Internet, for those of you who
were on it, it was amazing. It was like, you know,
this wild wild West of like frontier of like everything

(04:11):
was new and everything was decentralized. There was Usenet, there
was IRC, there was Gopher, there was a web. There
were no centralizing forces, and then all of that disappeared
in like five years because of a few companies building
something that was convenient to people, which was like how

(04:34):
do I find things on the Internet? And you had
Alta Vista and you had Deja News, and you had Google,
and you had Facebook and you had Twitter. These centralized
the discovery mechanism of the Internet, so you went to
one place to find all this incredible content. But the
problem was the content lived on the services as well,

(04:57):
so you had the discovery and the creation and also
the API all owned by one company, and that to
me is wrong. It's wrong for the company because it
puts a ton of pressure on them, and it's wrong
for the customer because the company actually owns your data
and they own your identity. And you've all experienced this

(05:19):
if you're trying to move your data to another thing,
or you have to resegn up or whatnot. That's not
how things should exist. So now we find we finally
have technology to enable data portability and moving your identity
around with it without a company owning it. But it's
not accessible right now, it's not well designed, but it's
just work and it's an opportunity for some businesses as

(05:40):
well for those of you who are still looking for
some opportunities. It's a way to you know, it's something
that needs to be figured out more so I'd say
we're still pretty early with it, but at the same time,
there's never been more energy around it. And the thing
that worries me the most is the most centralized of

(06:00):
these services that we become more dependent upon is AI.
We have five or six companies that are building very
centralized services that are you go to, you sign up to,
you pay for, and the CEOs that these companies can
change the intelligences, they can change the algorithms, they can
literally decide, based on a question you have, how it's

(06:23):
going to answer, and you've seen this play out obviously
in the press. Thankfully we have open source models, and
thankfully we have people who are pushing that more and more,
and like we have again a third horse in the race,
which is completely open and owned by the people. But

(06:46):
we need to desire it, we need to want it,
and we need to ultimately use it to not become
dependent upon five companies or just one company for this
really important technology which is effectively intelligent. We've seen it
with social media, we've seen it with intelligence, we've seen
it with with a number of other things on the internet, discovery.

(07:11):
Now we need to make sure that all these things
can be open source and they can be decentralized and
really usable by any business.