Farcaster

Some key insights from the X Space the attached post led to 👇

1. "Lens is the Tumblr of Web3 ... Farcaster is for builders."
2. "Advertising is not valuable to the advertisers on Twitter. Instagram/YouTube are the valuable users."
3. "If you're a web2 company, 1MM users = PMF. For web3, the bar is way lower. You're seeking the first 10K-100K users."
4. "I believe [web3/decentralized social] has already found PMF. It's just a matter of seeing if they can scale."

There was also an intriguing discussion about how most social companies are just fundraising mechanisms, most users are bots to bait real people into interacting, and the exit strategy precludes any interest in building a community around the network. I'm unsure if this applies to FC specifically, but it was a fascinating insight.

Some key insights from the X Space the attached post led to 👇

1. "Lens is the Tumblr of Web3 ... Farcaster is for builders."
2. "Advertising is not valuable to the advertisers on Twitter. Instagram/YouTube are the valuable users."
3. "If you're a web2 company, 1MM users = PMF. For web3, the bar is way lower. You're seeking the first 10K-100K users."
4. "I believe [web3/decentralized social] has already found PMF. It's just a matter of seeing if they can scale."

There was also an intriguing discussion about how most social companies are just fundraising mechanisms, most users are bots to bait real people into interacting, and the exit strategy precludes any interest in building a community around the network. I'm unsure if this applies to FC specifically, but it was a fascinating insight.

https://x.com/ChrisJourdan/status/1848802081983148477

dev, founder. For fun /milo /artist. For funds
diviswap.com

Glad to hear it. Would have been awesome to hear your perspective on the space. They did say you have an open invite if you think it’s worth your time

was there also any insights shared on socialfi narratives that have played out (friendtech, fantasy tops etc.)?