Untangling Web3

Hosted by Jack Davies & Alec Burns

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132

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Jun 2026

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The podcast that simplifies tomorrow's tech, today. Untangling Web3 dives deep into the world of the next-generation Internet, exploring the groundbreaking technologies, projects, and ideas shaping the future of the Web. Join us as we demystify the concepts behind Web3 and learn how you can be relevant in this radical digital and societal transformation. This series is hosted and produced by Jack Davies and Alec Burns.

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June 17, 202638 min

#134 Untangling: DeFi Lending w/ Sam MacPherson

DeFi lending is becoming one of the clearest examples of how blockchain technology can improve financial infrastructure. Stablecoins have created a global base layer for digital dollars, while lending markets allow those assets to remain liquid, transparent, and productive. As institutional interest grows, the next challenge is making DeFi safer, more efficient, and mature enough for large-scale capital allocation.In this episode of Untangling Web3, Sam MacPherson, Co-Founder and CEO of Spark, explores how DeFi lending has evolved from early crypto-native experimentation into serious onchain financial infrastructure. This conversation covers stablecoin adoption, liquidity, risk management, real-world assets, and why lending markets are becoming a core part of the digital assets ecosystem.Key Points Discussed:Stablecoins Are Driving DeFi Adoption: Stablecoins have found real product-market fit by giving users access to digital dollars, especially in markets where local currencies are unstable or hard to move. Once users hold stablecoins, the next natural step is earning yield, making DeFi lending a key layer of onchain finance.DeFi Lending Creates Transparent, Productive Liquidity: Spark enables users to deposit stablecoins such as USDC and USDS into lending markets that allocate capital across crypto-backed loans, real-world assets, treasury bills, and other yield sources. Unlike traditional finance, DeFi can make collateral, liquidity, risk exposure, and balance sheet composition visible on chain.Risk, Security, and Efficiency Matter More Than Hype: DeFi lending only works at scale if users can trust the infrastructure. Spark focuses on conservative risk management, secured lending, deep liquidity, and strong withdrawal availability, aiming to provide efficient stablecoin yield without chasing unsustainable returns or exposing users to unnecessary risk.DeFi lending is moving from speculation toward financial utility. The core value is not just higher yield, but a more efficient system where capital can move faster, remain transparent, and be allocated through programmable infrastructure.As stablecoins continue to scale and institutions enter digital assets, lending markets may become one of the most important bridges between traditional finance and DeFi. The future of onchain finance will depend on liquidity, security, and disciplined risk management — not just innovation for its own sake.--Learn more about Spark at:https://spark.fi/--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

June 9, 202636 min

#133 Untangling: Hybrid Onchain Institutions w/ Andrej Benčić

As digital assets move from experimentation into live institutional deployment, the challenge is no longer just getting financial products on chain. Banks, asset managers, fintechs, and crypto-native protocols now need the same level of security, risk controls, modelling, simulation, and operational predictability expected in traditional capital markets.In this episode of Untangling Web3, Andrej Benčić, Co-Founder and CEO of Tenderly, explores how hybrid onchain institutions are emerging as traditional finance and crypto-native infrastructure move closer together. This conversation covers why simulation before execution is becoming essential, how institutions can manage complex blockchain risk, and why operational tooling will be critical for the next phase of digital assets.Key Points Discussed:Onchain Finance Needs Institutional-Grade Risk Controls: As more capital moves into digital assets, small operational mistakes can create major reputational and financial risk. Smart contract security is only one part of the equation; institutions also need stronger processes for execution, monitoring, modelling, and day-to-day blockchain operations.Simulation Before Execution Becomes Standard Practice: Tenderly’s simulation infrastructure allows teams to model transactions, protocol behaviour, cascading failures, market stress, and complex multichain scenarios before anything happens on chain. This creates a safer environment for testing assumptions, understanding exposure, and reducing risk before real capital is deployed.Hybrid Onchain Institutions Are the Next Phase: Crypto-native protocols are becoming more operationally mature, while traditional institutions are learning from DeFi’s transparency, composability, and programmable financial infrastructure. The future sits between both worlds: institutions that combine traditional risk discipline with onchain technology, simulation, and real-time digital asset infrastructure.Hybrid onchain institutions represent a new model for financial infrastructure. The goal is not just to tokenize assets or launch protocols, but to operate on chain with the same discipline, predictability, and security that large-scale financial markets require.As blockchain adoption grows, simulation and modelling will become core infrastructure for managing risk. The institutions that succeed will be the ones that treat onchain operations as a full lifecycle challenge: not just launch day, but every transaction, upgrade, stress event, and market scenario that follows.--Learn more about Tenderly at:https://tenderly.co/--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

June 2, 202649 min

#132 Untangling: The Future of Money w/ Sean Lee

Money is entering a new phase. Stablecoins are moving from crypto-native tools into real financial infrastructure, tokenization is bringing traditional assets on chain, and digital assets are becoming increasingly embedded in the future of finance. In this episode of Untangling Web3, Sean Lee, Co-Founder of Open Stable Network, Host of the Onchain Capital podcast, and former CEO of the Algorand Foundation, explores the future of money through stablecoins, tokenization, digital assets, AI, and global financial infrastructure. The conversation covers why stablecoins are gaining traction, how regulators and institutions are approaching blockchain, and what the next decade of money could look like.Key Highlights:Stablecoins as the Next Layer of Money: Stablecoins are becoming one of the clearest real-world use cases for blockchain technology. By representing fiat currencies on chain, they offer faster settlement, easier cross-border movement, and practical utility without the volatility of crypto-native assets. As more jurisdictions develop stablecoin regimes, digital money is moving closer to mainstream financial infrastructure.Tokenization and the Convergence of Finance: Digital assets now sit across multiple categories: crypto-native assets like Bitcoin and Ethereum, tokenized assets like stablecoins and money market funds, and traditional financial products wrapped in blockchain infrastructure. Institutions are no longer treating tokenization as an experiment; major financial firms are building real products around digital assets, on-chain settlement, and programmable markets.AI, On-Chain FX, and the Future Financial Stack: The future of money will be shaped by stablecoin-based settlement, tokenized markets, AI-powered financial agents, and on-chain foreign exchange. As more currencies, assets, and financial products move onto blockchain rails, AI could help users research, manage, and execute financial decisions — but questions around trust, liability, identity, and quantum security still need to be solved.The future of money is not simply about replacing banks or making everything crypto-native. It is about building a financial system where stablecoins, digital assets, and tokenized markets work alongside existing institutions while improving speed, access, transparency, and interoperability.As money becomes programmable and more assets move on chain, the financial system could become more global, automated, and efficient. Stablecoins may become the settlement layer, tokenization may unlock access to broader markets, and AI may become the interface that helps people navigate an increasingly complex world of digital finance.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

May 27, 202634 min

#131 Untangling: How to Unlock Private Markets w/ Ultan Miller

Private markets have become home to some of the world’s most valuable and transformative companies, from AI and robotics to space technology and fintech. But access to these markets remains restricted, fragmented, illiquid, and difficult for most investors to reach. As more companies stay private for longer, the ability to participate in the upside of innovation is increasingly limited to a small group of institutions, funds, and high-net-worth investors.In this episode of Untangling Web3, Ultan Miller, CEO of Hecto, explores how private markets can be unlocked through standardized, compliant access to pre-IPO investments. This conversation covers what is broken in today’s private market structures, how tokenization and blockchain can create new forms of access and liquidity, and why the future of investing may involve private market index products built around the most exciting sectors in technology.Key Points Discussed:Why Private Markets Are Locked Away: Many of the most important technology companies now stay private for longer, meaning everyday investors miss out on much of the growth before IPO. Access is restricted by regulation, wealth thresholds, deal scarcity, complex SPV structures, and layers of fees that make private market investing difficult even for eligible investors.Tokenization as a New Access Layer: Tokenized private market products can give investors financial exposure to high-growth companies without requiring direct equity ownership. By using blockchain infrastructure, standardized frameworks, and compliant structures, private assets can become easier to access, hold, transfer, and integrate into broader digital markets.Building Private Market Indexes for the Future: Hecto is creating index-style products for private markets, starting with exposure to the largest pre-IPO companies and expanding into themes such as robotics, AI, quantum, longevity, and other high-growth technology sectors. The goal is passive, long-term access to innovation — not short-term speculation or day trading.As blockchain, private markets, and compliant financial technology converge, the opportunity is to build a more open system where access to innovation is no longer limited to insiders. The future of private market investing may look less like exclusive deal-by-deal access and more like transparent, standardized, tokenized products that allow broader participation in the companies shaping the next generation of technology.--Learn more about Hecto here:https://www.hecto.finance/--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

May 13, 202649 min

#130 Untangling: The Future of Finance w/ Pierre Person

Business finance is undergoing a major shift. For years, companies have relied on fragmented tools, manual processes, slow settlement, unpredictable costs, and financial infrastructure that still feels disconnected from the speed of modern tech. As blockchain, stablecoins, tokenization, and AI continue to evolve, finance is moving toward a more automated, transparent, and programmable market structure.In this episode of Untangling Web3, Pierre Person, CEO and Co-Founder of Usual Labs and Fira Money, explores the future of finance through the lens of regulation, DeFi, stablecoins, tokenized markets, and on-chain financial infrastructure. Drawing on his experience as a former French MP involved in crypto policy and now as a founder building financial products, Pierre explains why traditional finance and decentralized finance are starting to converge — and why the next generation of financial markets will likely be built on blockchain rails.Key Points Discussed:Stablecoins as the Foundation of Future Finance: Stablecoins are becoming core infrastructure for global finance, not just crypto trading tools. Pierre explains why stablecoin issuers need to move beyond the traditional model of privatizing collateral yield, and how Usual is building a more transparent system where users can access ownership, governance, and value generated by real-world assets such as T-bills and money market funds.Tokenization, DeFi, and the Convergence of Markets: On-chain finance is not about reinventing every financial product — it is about rebuilding market infrastructure with automation, liquidity, transparency, and lower costs. Fixed-rate lending, tokenized assets, on-chain settlement, and institutional capital moving into blockchain markets point toward a future where traditional finance and DeFi increasingly merge.Regulation, Privacy, and AI in Financial Infrastructure: Regulation must protect markets without freezing innovation, especially in a global technology like crypto. Pierre argues that finance needs better alignment across jurisdictions, stronger privacy protections, and practical AI tools that help users understand markets, manage savings, and access financial knowledge that was previously limited to institutions.The future of finance is likely to be more open, automated, and on-chain. Stablecoins are emerging as the liquidity layer, tokenization is bringing real-world assets into programmable markets, and DeFi infrastructure is creating new ways to lend, borrow, settle, and manage capital.As traditional financial institutions move closer to blockchain infrastructure, the key question is no longer whether finance will adopt crypto rails, but how quickly markets, regulators, and users will adapt. The long-term opportunity is a financial system where capital moves faster, assets are more transparent, and access to modern financial tools is no longer limited by geography, legacy systems, or institutional gatekeepers.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

May 6, 202638 min

#129 Untangling: Permissionless Commerce w/ Siddharth Menon

As the internet made information global and permissionless, payments have remained trapped behind banks, payment processors, jurisdictional rules, delayed settlements, account approvals, and platform-level restrictions. For online businesses, creators, developers, and emerging agentic commerce, the ability to accept money is still far less open than the ability to publish content or build software.In this episode of Untangling Web3, Siddharth Menon, founder of PayRam and co-founder of WazirX, explores how permissionless commerce can reshape the future of payments, stablecoin adoption, and blockchain-based financial infrastructure. The conversation covers why traditional payment systems create friction for merchants, how self-hosted crypto payment gateways unlock new forms of online commerce, and why the next wave of blockchain utility may come from payments rather than speculation.Key Points Discussed:Why Online Payments Are Still Broken: Traditional payments remain opaque, slow, and heavily permissioned. Merchants depend on payment service providers, acquirers, banks, and compliance processes that can delay settlement, freeze funds, reject accounts, or disrupt business operations when volume increases. In a borderless tech economy, payments still behave like a fragmented, jurisdiction-by-jurisdiction system.Permissionless Commerce and Self-Hosted Payment Gateways: PayRam is built around the idea that merchants should be able to run their own payment gateway, similar to running a WordPress site. Instead of signing up, completing KYC, or relying on a centralized processor to custody funds, merchants can accept blockchain payments directly into their own wallets, using self-custody infrastructure designed to reduce complexity and key-management risk.Stablecoins, Programmable Payments, and Agentic Commerce: Crypto payments are evolving beyond “send and receive” into programmable commerce: escrow, automated subscriptions, campaign payouts, multi-chain stablecoin payments, and agent-friendly checkout flows. PayRam supports payment links across networks including Bitcoin, Ethereum, Polygon, Base, and Tron, with stablecoins positioned as a practical bridge between blockchain infrastructure and everyday commerce.Permissionless commerce represents a major shift in how payments, tech platforms, and blockchain infrastructure can work together. Instead of treating crypto as another payment option inside the existing processor model, self-hosted payment systems give merchants direct control over how they accept, manage, and settle funds.As stablecoins become more widely used and AI agents begin spinning up digital services, stores, and automated workflows, payments infrastructure needs to become faster, more open, and easier to integrate. Blockchain-based commerce offers a path toward that future: global payments without unnecessary intermediaries, programmable money for new business models, and a more permissionless internet economy.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

April 22, 202645 min

#128 Untangling: Verifiable Compute w/ Leo Fan

As AI, cloud infrastructure, and blockchain systems scale, one critical issue remains unresolved: trust in compute. Today, most computation—whether powering AI models or executing financial transactions—operates as a black box. In this episode of Untangling Web3, Leo Fan, founder and CEO of Cysic, explores how verifiable compute and zero-knowledge proofs can transform computation into something that is not just fast and scalable, but provably correct. Key highlights:Why Verifiable Compute Matters in an AI-Driven World: Modern compute infrastructure has been optimized for performance and scale, not for verifiability. As computation moved from local machines to centralized cloud providers and data centers, users increasingly lost visibility into how results are produced. This becomes critical with AI systems, where outputs are often trusted without insight into the underlying process. Verifiable compute introduces a new trust model: instead of trusting a provider, users can independently verify that a computation was executed correctly.Zero-Knowledge Proofs as the Foundation of Trustless Compute Zero-knowledge (ZK) proofs enable computation to produce a compact, cryptographic “proof” alongside its output, certifying correctness without requiring re-execution. This transforms compute into something that can be verified quickly—even on low-power devices—while being executed on high-performance infrastructure. In blockchain systems, this replaces the need for every validator to re-run all computations, dramatically improving scalability. In AI, it allows developers to prove that a specific model, input, and workflow were used, even if the underlying system remains partially opaque.From Black Boxes to Verifiable Systems: Verifiable compute bridges AI, blockchain, and decentralized systems, enabling a future where critical workflows—financial transactions, autonomous agents, and enterprise decision-making—can be trusted without relying on centralized intermediaries. This unlocks new architectures where compute happens off-chain at scale, while proofs are verified on-chain or by distributed networks. However, significant challenges remain: performance overhead in proof generation, developer complexity in integrating ZK systems, and limited user awareness of the need for verifiability. Verifiable compute represents a fundamental shift in how digital systems are designed and trusted. By combining zero-knowledge proofs, blockchain, and advanced AI infrastructure, computation can move from opaque black boxes to transparent, provable systems. As AI agents take on more responsibility and automation expands across industries, the ability to verify outcomes will become essential—not optional. The long-term vision is clear: a world where trust is no longer assumed, but mathematically guaranteed.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

March 31, 202657 min

#127 Untangling: Humanoid Robots w/ Peter Corke

Humanoid robots are rapidly moving from science fiction into reality, powered by breakthroughs in robotics, AI, and artificial intelligence. In this episode of Untangling Web3, Professor Peter Corke, one of the world’s leading robotics experts, breaks down what robots really are, how they’ve evolved from factory arms to human-like machines, and how close we are to truly intelligent, autonomous humanoids. From perception systems powered by AI to the economic and ethical implications of automation, this episode offers a grounded, technical, and deeply insightful look at the future of robotics.Key highlights:What Actually Defines a “Real” Robot: A robot is not just a machine that moves—it is a system built around three core components: perception, planning, and actuation. Perception enables robots to understand their environment using sensors like cameras and lidar, increasingly powered by AI and deep learning. Planning determines how a robot achieves a goal, breaking complex tasks into actionable steps in real time. Actuation executes those plans through motors and physical movement. These three components operate continuously in a loop, often hundreds or thousands of times per second, enabling autonomy. Why Humanoid Robots Exist in Human Form: Humanoid robots are designed to resemble humans not just for aesthetic reasons, but for practical and economic ones. The entire physical world, from tools, buildings, and infrastructure, has been designed for the human body. A robot with two arms, two legs, and human-like dexterity can immediately operate within this environment without requiring redesign. The Challenge of Trust, Safety, and Physical AI When AI operates in the digital world, errors are often harmless. In robotics, mistakes can have real-world consequences—damage, injury, or worse. This raises critical challenges around reliability, verification, and safety. Ensuring that robots behave predictably and safely in dynamic environments remains one of the biggest barriers to widespread adoption.Humanoid robots represent the convergence of robotics, AI, and artificial intelligence into systems that can perceive, reason, and act in the physical world. While the technology is advancing rapidly, significant challenges remain in reliability, safety, and societal impact. The future of robotics will not be defined by a single breakthrough, but by the integration of multiple disciplines, from deep learning to neuroscience. As machines become more capable, the key question is no longer just what robots can do, but how humanity chooses to integrate them into society.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

February 26, 202634 min

#126 Untangling: The New Space Race

In this week’s episode, we're zooming out - literally - to explore the new space race unfolding before our eyes. With companies like SpaceX leading the charge, and global powers like China and Russia ramping up ambitions, the conversation dives into how space technology, orbital infrastructure, and interplanetary flight are moving from sci-fi fantasy to strategic reality. From Moon bases to Mars colonies and even AI data centers in orbit, this episode asks whether we are entering a new era of competition for dominance beyond Earth.Key Points Discussed:Moon vs Mars: The Strategic Pivot in the Space Race: Elon Musk’s long-term vision of colonizing Mars has recently shifted toward a more immediate and achievable target: the Moon. Alec explains how lower gravity, accessible water ice for rocket fuel, and reduced escape velocity make the Moon an ideal staging ground for deeper space flight into the universe. Rather than launching massive payloads directly from Earth, building infrastructure on the Moon could dramatically lower costs and enable larger-scale exploration missions.AI, Data Centers, and Orbital Infrastructure: One of the most futuristic ideas discussed is the concept of orbital data centers powered by solar energy. With AI driving massive demand for compute and cooling, placing data centers in space could offer abundant energy, passive cooling, and fewer regulatory hurdles. The episode explores how AI, satellites, and space technology could converge—blurring the lines between aerospace engineering and digital infrastructure, and turning orbit into the next frontier for critical tech systems.Global Competition and the Return of Geopolitics in Space: This isn’t just about innovation—it’s about power. The hosts unpack how China, Russia, and the U.S. are all accelerating lunar and orbital ambitions, reigniting a geopolitical race reminiscent of the Cold War. With NASA’s Artemis program, SpaceX’s government contracts, and China’s plans for a lunar research station in the 2030s, space is once again becoming a symbol of dominance. As the world shifts toward a multipolar order, the competition for strategic position beyond Earth may define the next decades of global influence.The new space race isn’t just about planting flags. It’s about infrastructure, sovereignty, AI, and the future of human civilization. As private companies and governments invest billions into lunar bases, orbital data centers, and deep-space missions, the boundary between science fiction and reality is shrinking fast. Whether driven by survival, competition, or pure ambition, humanity’s push into the universe is accelerating, and the next 10 to 20 years could reshape not just space technology, but life on Earth itself. Watch this space.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

January 28, 202644 min

#125 Untangling: The 'AI Bubble'

In this week’s episode of the Untangling Web3 podcast, we tackle one of the biggest narratives dominating tech and global markets right now: the so-called AI bubble. With headlines predicting an imminent crash in artificial intelligence stocks and skepticism mounting around LLMs, the hosts unpack whether we’re witnessing genuine over-exuberance, or simply the growing pains of a transformative technology. Drawing on real market signals, user adoption, and infrastructure realities, this episode cuts through the hype to examine what’s really going on beneath the surfaceKey Points Discussed:Why People Are Calling It an AI Bubble: The episode explores the core arguments behind the bubble narrative, including sky-high valuations, heavy reliance on a handful of AI-driven tech stocks, and the dominance of companies like Nvidia in propping up broader markets. Alec and Jack discuss concerns around circular investment models, where capital flows between AI companies and hardware providers, raising questions about whether real value is being created or simply recycled on balance sheets.The Reality of AI Adoption and LLM Progress: Despite investor anxiety, the hosts highlight a stark contrast at the product level: LLMs are improving rapidly and becoming deeply embedded in everyday workflows. From replacing search to enhancing productivity, AI tools are delivering tangible value to consumers and businesses alike. The conversation emphasizes that while enterprise-level ROI may take longer to materialize, dependence on AI systems is already a reality—and unlikely to reverse.Hidden Risks: Chips, Energy, and Global Dependencies: Beyond market sentiment, the episode dives into structural risks that could act as real pressure points for the AI boom. These include reliance on a single chip manufacturer (TSMC), rising energy and water demands from data centers, and geopolitical tensions between the U.S. and China. Unlike valuation debates, these are physical constraints that could trigger disruption regardless of how strong AI demand remains.Is there an AI bubble? Possibly—but not in the simplistic way the headlines suggest. While a short-term correction in tech markets may be inevitable, Alec and Jack argue that artificial intelligence itself is here to stay. The real story is one of scale, infrastructure, and timing: massive long-term bets paired with very real near-term constraints. Whether markets cool or surge next, AI and LLMs are already too deeply woven into the digital economy to disappear.--Learn more about Web3 at:https://untanglingweb3.com/--Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at theuntanglingweb3podcast@gmail.com.Love what you're hearing? Show your support by becoming a subscriber and don't forget to leave us a stellar review.The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.