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https://warpcast.com/~/channel/coins
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jesse.base.eth 🔵
@jessepollak
try to argue against content coins from first principles. if a video on tiktok has millions of views, it has value. why should a single platform control that value? why shouldn't that value be explicit? why shouldn't the creator benefit from that value? seems good to me.
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krel
@krel
would you care to steelman a stance against eg pumpfun as an intellectual exercise?
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jesse.base.eth 🔵
@jessepollak
steelman is that pump fun market structure is designed right now in such a way that creators don't earn from creation — they earn from the price going up. this creates a natural incentive for them (and other market participants) to artificially drive the price up, rather than letting the market be actually a neutral guide. we can solve this by building better market structures that reward creators based on attention and activity (like zora and clanker) and reducing upfront sniping. these can lead to a healthier market, which can lead to better, positive sum outcomes. i also think that pump has a culture that's very focused on price + trading vs. content, which naturally leads to a short termism. i think this is a hard environment from creators to succeed in and feel good about. to fix this, we need to create a new cultural foundation that is built on long term thinking and recognition that creators and the content they create is valuable in and of itself. intrinsic motivations must be strong.
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