These are four static directions in the visual language of a16z crypto's State of Crypto decks and Chris Dixon's Read Write Own. That language is thesis-first: one bold claim with the key phrase highlighted, a single diagram doing the work, a small category label top-left, and a source line at the bottom. None of the numbers are invented, and token mechanics are marked designed.
State of Crypto 2025: chart left, highlighted thesis rightState of Crypto 2024: step ladder, thesis panel on the right
01
Read. Write. Own.
The Dixon eras, applied to AI.
WHY NOW
AI is entering its own era.
ERA 1
Read
AI answers questions. You rent access.
ERA 2
Write
AI acts for you and holds your work, health and money. Shareholders keep the upside.
ERA 3 NOW
Own
Models are interchangeable, privacy runs in the browser, and the rails exist. Users can own the AI they pay for.
perspectiveaiFramework after C. Dixon, Read Write Own (2024)
Mirrors Dixon's three eras: read (democratized information), write (democratized publishing), own (democratizes ownership). readwriteown.com/terminologyhistory
02
Follow the subscription
Diagram on the left, highlighted thesis on the right.
WHY NOW
Where a monthly AI subscription goes
TODAYYou payAI companyShareholders
PERSPECTIVEYou payBuys $POVYou own it
Revenue routing is designed, not yet live.
Users pay for AI every month. The upside still goes to shareholders.
perspectiveaiSchematic, not to scale
Mirrors the State of Crypto 2025 layout: the evidence takes the left two thirds, and the bold thesis sits on the right with its key phrase highlighted. State of Crypto 2025
03
Who captured the value
Every era settles who owns the upside.
WHY NOW
Every era of the internet decided who owns the upside. AI's is being decided now.
ERA
WHERE THE VALUE WENT
Open web
Users and builders, at the edges
Platforms
A handful of companies
AI today
Shareholders, while users pay every month
User owned AI
The people who use it (designed)
perspectiveaiFirst two rows after C. Dixon, "Why Web3 Matters" (2021)
Mirrors Dixon on web1, where most of the value went to the edges, users and builders, and web2, where most of it went to a handful of companies. a16zcrypto.com/why-web3-matters
04
The ladder
Four steps that unlock it, with the punchline on black.
WHY NOW
What had to be true for user owned AI
Models commoditizeTop models are interchangeable
AI holds your lifeWork, health, money in chat
Users reject equityThey push back on being owned
The rails existOnchain payouts, card checkout
All four are true now. The window for user owned AI is open.
perspectiveai
Mirrors the State of Crypto 2024 "Cost to send USD" ladder: stacked pill rows on a dotted spine, ending in a highlighted step, with the thesis in a panel on the right. State of Crypto 2024
