He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why

Eric Tang

In Episode #759, Nathan interviews Eric Tang. He’s a computer programmer and co-founder of Live Peer, a decentralized video live streaming platform incentivized with the blockchain. He was introduced to the blockchain in 2014, and it’s pretty much everything that Eric thinks about now.

Famous Five:

  • Favorite Book? – The Hard Thing About Hard Things
  • What CEO do you follow? – Jerry Colonna
  • Favorite online tool? — MetaMask
  • How many hours of sleep do you get?— 6.5
  • If you could let your 20-year old self, know one thing, what would it be? – Eric would tell himself to be more focused and worry less

Time Stamped Show Notes:

  • 01:06 – Nathan introduces Eric to the show
  • 02:07 – Wowza does video transcoding in a centralized way
  • 02:30 – One of the big CDN players is Akamai
  • 02:59 – There are two different cases for why people would use Live Peer over the other players in the industry
    • 03:05 – Live Peer is in a decentralized world
    • 03:11 – App developers nowadays are building decentralized applications
    • 03:18 – The applications do not have a server
    • 04:13 – They can duplicate their projects over the blockchain
    • 04:17 – Live peer is the only solution for decentralized apps
    • 05:20 – The government wouldn’t be able to figure out the IP of Live Peer
  • 06:06 – The idea of blockchain is the participants are the stakeholders
  • 06:16 – When you use Facebook live, you’re just a user and not actually benefiting from it
  • 06:27 – In a decentralized world, if you’re a participant of Live Peer, you earn tokens which grow and become more valuable
  • 07:07 – From an ecosystem standpoint, the companies building businesses around bitcoin and ethereum are early coin holders
    • 07:28 – Joseph Lubin, Ethereum’s co-founder, is now hiring 400 people for ConsenSys to build applications around the ethereum ecosystem
  • 07:55 – Ethereum provides a smart contract platform which bitcoin doesn’t provide
  • 08:47 – How Ethereum and bitcoin are competitors and how they are not competing explained
  • 09:17 – Anyone can build their own bitcoin blockchain but they won’t be always successful
  • 10:18 – Eric thinks co-blockchains will also exist
  • 10:50 – Eric thinks bitcoin is a great way to hold value as it has a great network now
  • 11:11 – Ethereum has its own value and for a completely different purpose
  • 11:29 – We use the ethereum platform to hold our tokens
  • 11:50 – In the open blockchain world, anyone can be an investor
    • 12:10 – There’s just more risk in investing earlier
  • 12:44 – Can someone cheat the system by having fake miners grow the value earlier?
    • 13:00 – Some are pumping the tokens and selling them
    • 13:13 – When a company comes, Eric would have them hold their tokens at first
  • 13:48 – If you have a lot miners, you’re already contributing a lot to the network
    • 14:00 – The network will leverage the access capacity
    • 14:12 – if you spun out a bunch of miners, Live Peers will have a large capacity in terms of amount of transcoding and live streaming work we can do
    • 14:23 – This creates a cheaper price for the amount of live streaming
  • 14:43 – Nathan makes a comparison using Live Peer 1 and Live Peer 2 as competitors
    • 14:49 – When investors spend money on the 2 companies and contribute more resources, the prices of the service will go down for the consumers
    • 15:07 – The longer they spend money, the more users they can drive
  • 15:55 – If Nathan launches an email marketing tool, how can he create traction if people don’t understand crypto
    • 16:18 – There’s actually a need for people to simplify the complexity of crypto
  • 16:59 – Eric is thinking of providing incentives for individual stakeholders to get new users on board
    • 17:23 – The big investors can put aside a big percentage of tokens and just incentivize it
    • 17:37 – It’s like an employment equity pool
  • 17:54 – The early participants will benefit more from the ecosystem
  • 18:03 – The first bitcoin transaction was 10K bitcoins for a pizza
    • 18:16 – The bitcoin price to buy a pizza is a little over $2500 (a coin)
  • 20:30 – The Famous Five

3 Key Points:

  1. More developers are building decentralized applications because of the security piece.
  2. The participants in the blockchain are the stakeholders as well.
  3. The one who will win is those who can spend more money and contribute resources for a longer span of time—this will attract more users and create cheaper prices for the consumers.

Resources Mentioned:

  • Simplero – The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • GetLatka – Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Show Notes provided by Mallard Creatives