JD

@darkstar

63 Following

1672 Followers

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def can target based on Geo but not as limited with the model based on geo

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crypto is a universal, global business model. most apps/products today need to target based on Geo-- factors include discretionary income, credit cards, payment support. Display & mobile products have different features & restrictions on their model not crypto. & that's the TAM

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... & i was there.

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blockchain's big unlock in consumer is providing services to individuals that were previously impossible or prohibitive. the tech NOW makes it available. i think that's why we'll see an explosion of applications integrating & leveraging stablecoins, w/ a focus on global first.

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one of those songs that you gloss over or scroll past & then months down the road, your buddy sends it to you and you're like "this is amazing!". so don't waste time & just press play now. https://open.spotify.com/track/3cY2nHVVX2ZER1ttxGzLav?si=909220592f8a4daf

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Such a good one.

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an everyday guy going to work. just like us.

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the challenge of consumer applications & experiences in crypto can be attributed to who these companies are building for -- mainly developers. & if you build for devs with hopes that they will build for consumer, you still need to understand consumer GTM, product and models.

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most crypto cos should have vastly different metrics that drive their success. each company should define their own lead metrics, and measure against those -- vs. today, measuring against industry-wide KPIs. lag metrics lead to building short term capture, lead metrics drive towards product durability.

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id argue it's a garmin and we don't have the iphone yet. current focus has been incredibly limited and servicing customers seeking a specific product purview.

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"optimizing for value capture today feels premature." https://hackmd.io/@mikeneuder/ethesis

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think most of the consumer bottleneck in crypto could be attributed to the industry over indexing on bottom of the funnel mechanics. traditionally, markets scale and the biggest businesses are built through capturing the bottom (data, revenue). crypto started there & has maintained 99% of its energy there. when really TAM is about expanding outside of the presumed metrics of "Crypto" by providing valuable technology & experiences to consumers they aren't getting elsewhere. or said differently, the only reason "crypto" remains a separate consumer category is that the development is fostering the existing customers & perceptions of what they want. it's a cycle to spin out of.

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correct, and believe that's where many are stuck in their thinking -- that the game on the field today will be the same game tomorrow. why we see a lot of the same product mechanics, expectations and quick rise and capture moments in its brief history. but things evolve and growth is slower than early, quick capture.

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writing a more thorough breakdown but quickly-- Capture: existing TAM, crypto market dependent, defined metrics, bottom of funnel Created: expands TAM, multi-market dependent, defining metrics, top of funnel if done correctly, created should feed capture and expand it as well.

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consumer crypto should be gauged less on value captured and more on value created. the former provides short term wins, capturing high velocity moments through behaviors which already exist. the latter creates or expands markets, catalyzing new behaviors which can have significant longer and more durable markets.

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great tan lines

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nhl season looms.

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“You can't use twentieth century metrics and concepts to analyze twenty first century demand and perception.” https://lefsetz.com/wordpress/2024/09/05/one-more-oasis/

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to kick off the wave of adoption for the first class of consumer crypto companies, founders will measure their success more like SaaS & Commerce businesses than Social, Media or Gaming businesses. we are still in the phase of defining customers & audience in crypto. we have core users, mercenaries, bots... all of which are still in their value discovery phase. where clicks, users and views worked to show web2 growth, in web3 -- similar to high TVL growth in DeFi -- those metrics are often fragile and misleading. for consumer crypto to shine, it's less focus on output metrics and more focus on its unique consumer behaviors-- this will shepherd foundations where incentives drive new and efficient ways to transfer value. then we're off to the next step.

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