The decentralized version is more valuable.

Bitcoin is worth $1T and PayPal is worth $64B.

Ethereum is worth $400B and Stripe is worth $65B.

So, if Farcaster really takes off as a protocol, and it’s getting there, it could be even more valuable than existing social media companies.

Note: this doesn’t reflect negatively on PayPal and Stripe, which are great companies and very hard to build.

Note also: Linux has created many more trillions in value than its closed source predecessor, AT&T Unix. Old hat today, but that was huge in the 90s and 00s.