Today “foot traffic” is determined by esoteric algorithms while customer relationships are mediated by social networks. Platforms like Apple, Youtube, and Facebook take 30% to 100% of creator profits.

beyond the take rate, it's hard to build where foot traffic can be rerouted overnight by a change in the algo

i used to run consumer biz w/ $1b+ annual sales. retail site selection was the most impt investment decision (customer profiles, future infrastructure changes around the area).

Founder @ Artichoke Capital, web3 venture | former consumer operator, PE investor & lawyer | www.artichoke.capital | shawnwlim.twitter

on the web, you generally only have a few platforms (malls) to choose from, and they decide how that traffic is routed within their property w/ no recourse when that is suddenly changed.

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

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yep - also farcaster popularity is perfectly timed with the re-emergence of the section 230 debates in the US. @dwr masterminding this thing.

The Farcaster thesis must hit you right in the feels then - excited to have more voices here!