VCs investing in Web3 social, consider this:

The TAM in Web3 is 100x smaller than Web2. 

For your Web3 investment to make sense, the app should be expected to make 100x more revenue per user. Otherwise why invest in Web3, just do Web2.

To achieve this, a Web3 social app has to embrace the speculative nature of existing crypto users to generate enough trading fees, or demand for the token.

Don't buy into the mass adoption narrative the founder is pitching you, you know how expensive it is to acquire a user in Web2? The few million dollars he raises won't make a dent.

The picture is hypothetical, using BeReal's and OpenSea's total active users as a benchmark for what's achievable in Web2 vs Web3.