Last summer I sat down with Tom Secunda, who co-founded Bloomberg LP with Mike Bloomberg, to talk about areas of shared philanthropic interest. Tom told me that academic institutions do not have access to the kind of AI/ML infrastructure that the top tech companies have and he wanted to fix that. His idea was a consortium of Universities in New York State, the New York State Government, and philanthropic donors. His vision was a large shared facility in upstate NY with state-of-the-art AI/ML infrastructure that participating academic institutions could make available to their faculty for cutting-edge AI/ML research.

Tom is a convincing person. He convinced me that this was a good idea last summer and he went on to convince Governor Hochul and the top Universities in New York State and his fellow philanthropist Jim Simons.

I am glad Governor Hochul and her team were quick to recognize the promise of this idea. Today, Governor Hochul will announce Empire AI in her State of the State Address.

Empire AI will be a "state-of-the-art artificial intelligence computing center in Upstate New York to be used by New York's leading institutions to promote responsible research and development, create jobs, and unlock AI opportunities focused on public good."

Over $400mm of public and private funding has been committed over ten years to build and operate the Empire AI facility. New York State is contributing $275mm and over $125mm is coming from participating Universities and philanthropy.

I am excited to see New York State step up like this. Other states, like Massachusetts, have done something similar but this NYS effort is significantly larger. I expect more states will follow now. Cutting-edge AI/ML research should not be limited to large tech companies. We need our academic institutions to be on equal footing. This model, particularly if more states adopt it, can help make that possible.

New York is one of the leading AI centers in the US, along with California and Massachusetts. We see this every day as entrepreneurs building AI companies come knocking on our door. It is very encouraging to see our local government supporting and investing in this new area of economic development.

I want to congratulate Governor Hochul, the leaders of our academic institutions, and Tom Secunda, for their vision and initiative here. This is important.

Chris Dixon, who leads the A16Z crypto fund, and has been an entrepreneur, VC, and friend of mine for over twenty years, has written a book called Read Write Own that is available for pre-order now and will start shipping at the end of the month. Chris gave me a copy right before the holidays and I read it over the last week.

I asked Chris why he wrote the book and he had two answers, one personal and one practical. The personal one is “I have focused my career on investing in blockchain networks. During the recent downturn, I felt a need to rearticulate to myself why I am doing that.”  The practical one is “I want to explain blockchain networks to young adults who are thinking about where to start their careers, to the mother of the software engineer at Coinbase who wants to understand what her child is working on, and to lawmakers and regulators in DC who need to understand why they are important.”

What Chris calls Blockchain Networks, I call Web3. The term Web3 is important to me because my investing career first took meaning during the initial phase of the web, which I think of as Web1. It took off during the second phase of my career which many call Web2. And I’ve spent the last decade of my career imagining what a better version could be, which I call Web3.

Chris takes the same journey but he calls these phases Read, Write, and Own. The initial phase of the web, when the web browser arrived, was mostly a reading experience. Then in the early 2000s, the web became two-way and we could Read and Write. What Blockchain Networks have unlocked is the ability to own things on the web. You can own your identity. You can own your social media posts. You can own your money. You can own your art. You can own your music. And so on and so forth.

Chris’s book has three parts. The first part is a history of the web and how we got to where we are right now. The second part is a detailed description of what makes Blockchain Networks work and why they are important and powerful. The third and final part is a series of descriptions of new kinds of applications that are being built on Blockchain Networks.

While I enjoyed all three parts of the book, I was energized by the final section. Chris imagines a future that is very different from where we are today. It is one I very much want to see emerge. I think you will too.

You can pre-order Read Write Own here.I encourage you to do that. I expect you will turn that last page and be excited, like I am, about what is coming now that we can own the Internet instead of it owning us.

2007 was a heady time for USV. Web2 was finally happening, four years after Brad and I spent 18 months telling the world it was coming to mostly deaf ears. We finally raised our first fund at the end of 2004 and three years later things were finally coming together and quickly. Though we made investments with a much bigger impact during that time, the one I loved the most as a user was Tumblr. Every morning I would wake up and scroll through my feed and find amazing thoughts, images, music, and more. Sadly Tumblr did not transition to the iPhone/mobile world and was displaced by things like Instagram and TikTok and SoundCloud, but for a while, Tumblr was the greatest thing on the Internet and I loved it.

That's when we first met Jared Hecht, who was employee number eight at Tumblr. During Jared's time at Tumblr, he, along with our good friend Steve Martocci, attended a Twilio (another USV investment that I have huge heart for) hackathon and made GroupMe overnight which became an instant sensation and then a company and then an exit to Skype/Microsoft.

Tumblr and Twilio and web2 and what you could do with all of this stuff was a time of infinite possibility. A lot has changed since then on the consumer web but the friends we made then have stuck and today Jared is telling the world something we have known for a few months and that is that he is joining USV as a Venture Partner.

I think we are at the beginning of another heady time, as web3 and AI present the opportunity to make a new internet that, like the early days of web2, has endless possibilities.

So Jared joins us with a decade and a half more experience than when we first met him, two successful startups that taught him so much, but also with the memories of the early days of web2 and the pattern recognition that comes from it. We will need that right now. Because it is opportunity time again on the consumer web.