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Shaw Walters: ‘We’re Going to Automate All of the Jobs’

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Someday you’ll be out of a job. So will I, so will your neighbor, so will your best friend, and so will all of your family. All of our jobs will be automated, thanks to AI. This is the prediction of Shaw Walters (who in Web3 style typically just goes by “Shaw”), founder of Eliza Labs, and creator of ElizaOS.

“We’re going to automate all of the jobs. Like, all of the jobs are going to be automated,” says Shaw. “There aren’t going to be any jobs. And there shouldn’t be, because any work that I can get a robot to do is beneath me. And I think we will look back on this time like we look back on slavery. Like, ‘What the fuck were we doing?’”

Onstage at the AI Summit at Consensus 2025, Shaw will unpack this theory in a keynote titled, “How AI Agents and Humanoid Robots will Reshape Society…and Why Crypto is the Key.” Here he gives a quick sneak peek.

Interview has been condensed and lightly edited for clarity.

What excites you the most about AI Agents?

Personally, this is a sort of selfish quest. I don’t like sitting at my desk all day with my shoulders rounding, becoming this troll who’s coding all day.

What I want to do is to pace around and tell my agents to do things and code for me. Coding has gotten to the point where I have another window up, and I’m just coding with Gemini in Cursor. I just start speaking and saying, “Hey, this is what I want. I want you to change this, this, and this,” and it just starts going.

And why can’t that just be embodied? Why can’t I just be walking down the street talking to my agent and it’s writing my code for me? Why do I have to be sitting here glued to this desk? So I really want to unbox the user interface personally for myself, and have my agent with me everywhere I go. I can just call it if I have an idea. It answers my email.

What do you think will be the first killer use case of agents that really goes mainstream?

Well, definitely coding. It’s already the first case.

Fair. But what about for normies, for non-coders?

Well for us [at Eliza], it’s social agents. And then I run a remote team and DAO community, right? We have 20 people that come to work every day and develop code. I have a group chat right now of eight people. And we have 20 channels on Discord and we have a Telegram. So we have all this communication happening in all these places, and we have these very obvious problems everyone else has. I don’t know what’s going on in most of the chats. I don’t have time to read most of it.

I’d love if it was just summarized for me. They should be like, «Hey, what has this guy been working on right now?» And it’s like, «Oh, he worked on this. He answered this.» Great. So we have a bot that’s doing just that thing. It checks in with every single employee every day and gets a [status update] from them. And it’s tracking every single chat and all of our digital spaces and summarizes everything.

Why, in your mind, is crypto crucial to this larger vision of yours of AI Agents? Why is Web3 necessary?

I think it’s very obvious that it’s hard for me to give an agent a PayPal account. But I can just spin up a wallet for this agent and that agent. I could build a game where I’m like, «I need 10,000 wallets.» Because what I’m really doing is giving an agent the ability to prove that it is itself with a cryptographic signing tool, just like I’m giving any other user. So agents are just proxies for other users and they get the same benefits that any other user does.

But I think that there’s a bigger question here of like why crypto at all? And I think the reason is because I think that we should be able to create our own money. It’s not a power that we should necessarily give to states, although states have the ability to enforce it with force. So there’s a bigger question of, what’s the war we’re fighting here?

This is something that I’ll be sharing in my Consensus talk. We’re going to automate all of the jobs. Like, all of the jobs are going to be automated. There aren’t going to be any jobs. And there shouldn’t be, because any work that I can get a robot to do is beneath me. And I think we will look back on this time like we look back on slavery. Like, «What the fuck were we doing?”

We were making everybody work for dollars with all of their time. That’s crazy to me. They should have been pursuing their passions. They should have been asking, “Why are we here and what are we doing?” They should have been forming their own basis of spirituality instead of just going to work every day. And so, in that reality, well, there’s a big problem.

I can think of a few…

If there’s no jobs, then we have no money. But actually none of the rich people in our country have jobs. How do they make money? They’re investing. And I think this is the world we have to live in, where we’re all investors, and nobody’s a worker. It’s just insane to me that we live in a world where all the rich people don’t work, and yet we think that’s the way to getting rich.

I’m trying to visualize this. It’s wild to imagine a world where no one has jobs, and all the work is beneath us.

It’s inevitable.

Are we writing poetry all day? How are we filling our time? What does humanity look like?

Okay, so let’s say you somehow received an airdrop that you put into a project, and now you have something like $80 million worth of value. What would you do? What’s your next move?

I see where you’re going with this. So the idea is that you think about what your passions are, and how you’d spend your time if you had unlimited money? And then that’s what you’d be doing in this world where all the jobs are automated.

Yeah. I would be at my computer working on AGI. I would be working on that all day.

Let’s go there now. What’s your guess of when we get to AGI, or if we get to AGI?

What is AGI?

[Both laugh.]

So, does AGI to you imply sentience?

Well, my favorite coined term was that AGI is the thing that computers can’t do yet. How about that?

It’s a bit of Zeno’s Paradox, right? It will forever be outside of its grasp.

Yes, we have normalized the fact that, like, I can talk to ChatGPT on voice in my phone and get instant answers to almost anything. Like, we’re sitting here having ChatGPT do tarot readings, and give us answers to how “Magic: the Gathering” works.

Wild times! Thanks Shaw, this was fun. See you in Toronto. Can’t wait for your talk.

Jeff Wilser will host the AI Summit at Consensus 2025, and is host of The People’s AI: The Decentralized AI Podcast.

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First Solana ETF to Hit the Market This Week; SOL Price Jumps 5%

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Solana SOL jumped about 5% Monday morning amid rumors that a SOL Staking exchange-trade fund (ETF) by Rex Shares and Osprey Funds could start trading on the market as soon as Wednesday.

The token later fell back slightly, now trading up about 2.3% over the past 24 hours at $157 at press time.

A spokesperson for Osprey confirmed to CoinDesk that the «fund will launch Wednesday,» following a post on X by the automated headline account «Unfolded.»

Just last week, Rex filed a letter with the Securities and Exchange Commission (SEC) asking whether comments had been resolved for their filing. Later that day, the asset manager posted on X that the ETF was “coming soon,” suggesting that the SEC had no further comments.

The REX-Osprey SOL+Staking ETF would be the first of its kind in the U.S. Several issuers are still awaiting approval for a spot SOL ETF which would likely also include staking capabilities.

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Katana Mainnet Goes Live as Pre-Deposits Hit $232M

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Self described ‘DeFi-first’ layer-2 blockchain Katana has launched its mainnet after receiving $232 million in pre-deposits.

Deposits flooded in after Katana was revealed to the public less than a month ago. DefiLlama data shows that deposited jumped from $75M to $2320M between June 1 and June 30.

Depositors will receive randomized reward NFTs called Krates, as well as a share of 70 million KAT tokens, Katana’s native token. Upon launch, yield farmers will be able earn more KAT by staking on platforms like Morpho and Sushi.

The blockchain aims to solve one of DeFi’s largest problems: Liquidity.

A lack of liquidity can lead to a multitude of issues including slippage, inefficient pricing and unsustainable yields.

Some of the mechanisms Katana will use to solve that the issues is VaultBridge, which is a product that enables yield generation on deposited assets on Ethereum, as well as chain-owned liquidity (CoL), which allows Katana to retain 100% of net sequencer fees and convert them into liquidity reserves.

«Katana represents the endgame for how blockchains create value in DeFi,» Marc Boiron, co-contributor of Katana said in a press release.

The launch coincides with yield farming incentives including token rewards for liquidity providers on Morpho and Sushi.

Despite being based on Ethereum, Katana is blockchain agnostic so users can generate a yield on blockchains like Solana through Katana’s collaboration with Jito, a liquid staking protocol.

UPDATE (June 30, 2025, 17:46 UTC): Updates to reflect new numbers in pre-deposits.

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Why Are There No Big DApps on Ethereum?

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On July 30, 2025, we will be celebrating a decade since Ethereum launched on mainnet. Inarguably, one of the biggest milestones in this industry’s short life.

When it launched as the world’s first smart contract platform, this was obviously something entirely new and a completely new way of thinking about software. Instead of renting access to someone else’s platform that could change the rules or lock you out at any moment, one could – in theory – now participate in systems that belonged to everyone and no one, where the rules were written in code and couldn’t be arbitrarily changed by a CEO’s whim. Users would own their date, and software would be maintained and managed by a network rather than a boardroom. The consequences seemed pretty utopian.

However, nearly ten years on from Ethereum’s launch and the dreams of a Web3 version of Amazon, eBay, Facebook or TikTok haven’t arrived, and are nowhere on the horizon.

Gavin Wood, Ethereum co-founder, and his vision of “Web3” envisaged exactly that. Joe Lubin, the renowned founder of Consensys, said that “Ethereum will have that same pervasive influence on our communications and our entire information infrastructure.»

The libertarian journalist Jim Epstein predicted a year after Ethereum’s launch that “the same types of services offered by companies like Facebook, Google, eBay, and Amazon will be provided instead by computers distributed around the globe.”

Vitalik Buterin himself envisaged Ethereum “law, cloud storage, prediction markets, trading decentralized hosting, [hosting] your own currency,” in his 2014 Bitcoin Miami speech, where he announced Ethereum to the world. “Perhaps even Skynet,” the fictional artificial neural network from the Terminator films. He has described the platform he created as both a threat and an opportunity to platforms like Facebook and Twitter back in 2021.

The Scale Problem

The barrier to achieving this vision is scale. The most successful consumer applications today serve hundreds of millions of users. Instagram processes more than 1 billion photo uploads daily. eBay handles roughly 17 billion dollars in transactions each quarter. Facebook’s messaging platforms process trillions of messages annually.

Ethereum processes about 14 transactions per second, and Solana can handle over 1000. Instagram handles over 1 billion photo uploads daily. eBay processes 17 billion dollars in transactions quarterly. The math doesn’t work.

Let’s entertain the decentralized eBay example for a moment. A truly decentralized eBay would demand far more than simple payments. Every listing creation or update would require onchain transactions for item metadata, pricing, and condition details. Auctions would need automatic bidding resolution with time-locked smart contracts. Escrow systems would have to hold funds until delivery confirmation, with DAO arbitration for disputes.

User reputation systems would require immutable rating storage tied to wallet addresses. Inventory management would need real-time stock tracking, possibly through tokenized goods. Shipping confirmations would demand oracle integration for delivery proofs. Marketplace fees and tax royalties would need smart contract enforcement. Optional identity verification systems would require decentralized credential management. Each interaction would multiply the transaction load exponentially beyond what current infrastructure could support.

It goes without saying that this would require a blockchain of unprecedented speed and throughput. Frankly, a decade after Ethereum, the infrastructure just hasn’t been there to support it.

The Economics Don’t Work

The business model hasn’t always made sense either. Modern applications need massive scale to generate revenue that covers development costs. Furthermore, layer 2 solutions fragment users across platforms, where (for example) Arbitrum users can’t directly interact with Polygon applications. This defeats the purpose of building unified global computing.

This isn’t theoretical. OpenSea struggled with profitability despite dominating NFT trading with high-value transactions & fee-tolerant users. If you can’t profit from selling digital art to crypto enthusiasts paying hundreds in fees, how do you build a marketplace for used goods? The economics are even worse for lower-value transactions that define mainstream commerce. A decentralized social network charging $5 per post would be dead on arrival.

Gaming applications that require a few dollars in transaction fees for every item trade won’t attract players who expect the same for free elsewhere. So far, the only viable on-chain businesses have been those that can extract massive value from relatively few users – essentially high-stakes financial applications and speculative trading.

The Calvary Is Coming

The industry accepted a false tradeoff: security and decentralization, or functionality and scale, but not both. But transaction throughput has steadily increased (and will continue to) across networks as the technology matures. We can now achieve massive scale even with proof of work chains, maintaining the security and decentralization that made blockchain revolutionary in the first place (rather than the premature embrace of proof of stake that compromised these principles).

Zero-knowledge proofs allow users to prove transaction validity locally, submitting only small cryptographic proofs that are aggregated recursively and in parallel by a network of provers. Networks can process millions of transactions without every node verifying each one individually. When users prove their own transactions, the marginal cost of adding an additional transaction approaches zero, and blockchains can finally support the economics that mainstream applications require.

But ten years on, it’s clear that the vision once laid out by the futurists of Web3 has moved at a disappointing pace. Let’s hope the next decade moves a little faster – and, fingers crossed – our blockchains too.

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