In this episode Alex Danco (@alex_danco) of Social Capital joins Erik to talk about Silicon Valley, economics, innovation, crypto, software and more. He is a very unique thinker with interesting opinions about the tech space.Alex explains the influence of Peter Thiel and Rene Girard on his thinking. He explains what he means when he says the key to understanding the world is asking, "what is everyone is compelled to lie about?"He gives a history of how innovation has traditionally proceeded in the world and explains how Silicon Valley — via software specifically — has changed the mechanism of innovation. He talks about how this has resulted in disproportionate gains accruing to the huge tech companies. This new model of innovation has also changed how companies are valued. Alex breaks down the new metrics that are being used by VCs and founders to value their firms — and why this could be contributing to a new tech bubble.Alex also talks about the economics of the Valley and why gains in productivity from technology have not resulted in increased leisure for the Valley's inhabitants. He also talks about crypto, career strategy, cost disease, scooters, and much more.Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.