cdixonCollected web3 twitter threads
Why web3 matters Chris Dixon @cdixon There’s a lot of talk lately about the possibility of a prolonged financial downturn, reminiscent of 2008. 2008 was a difficult time for many people. 2,951 9:39 AM • Jun 27, 2022 Composability is to software as compounding interest is to financeBlockchains are the new app storesTokens are a new digital primitive, analogous to the websiteGoing from Web 2 to Web 3 - “Your take rate is my opportunity”The web3 playbook: using token incentives to bootstrap new ...
cdixonToys, Secrets, and Cycles: Lessons from the 2000s
I started my internet career in the early 2000s during the dot-com bust. It's hard to picture this now, but the internet was a thing that people used only intermittently, to check email or plan travel or do some research. The average internet user spent about 30 minutes a day online, compared to about 7 hours today. To use the internet, you had to sit down in front of a desktop PC and "log on" (most people still had dial-up), nothing like the always-on, high-speed mobile internet we use ...
cdixonWhy web3 matters
Why Web 3 matters 🧵 Web 1 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders. Web 2 (roughly 2005-2020) was about siloed, centralized services run by corporations. Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook. We are now at the beginning of the Web 3 era, which combines the decentralized, community-governed ethos of Web 1 with th...
cdixon.org
cdixonCollected web3 twitter threads
Why web3 matters Chris Dixon @cdixon There’s a lot of talk lately about the possibility of a prolonged financial downturn, reminiscent of 2008. 2008 was a difficult time for many people. 2,951 9:39 AM • Jun 27, 2022 Composability is to software as compounding interest is to financeBlockchains are the new app storesTokens are a new digital primitive, analogous to the websiteGoing from Web 2 to Web 3 - “Your take rate is my opportunity”The web3 playbook: using token incentives to bootstrap new ...
cdixonToys, Secrets, and Cycles: Lessons from the 2000s
I started my internet career in the early 2000s during the dot-com bust. It's hard to picture this now, but the internet was a thing that people used only intermittently, to check email or plan travel or do some research. The average internet user spent about 30 minutes a day online, compared to about 7 hours today. To use the internet, you had to sit down in front of a desktop PC and "log on" (most people still had dial-up), nothing like the always-on, high-speed mobile internet we use ...
cdixonWhy web3 matters
Why Web 3 matters 🧵 Web 1 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders. Web 2 (roughly 2005-2020) was about siloed, centralized services run by corporations. Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook. We are now at the beginning of the Web 3 era, which combines the decentralized, community-governed ethos of Web 1 with th...
cdixon.org
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Certain categories of web2 websites and apps fall into a usability-monetization death spiral. 🧵
Relying on ads and monetizing at low CPMs, the incentive is to add ever more intrusive ads to increase click rates.
User experience degrades, requiring more intrusive ads, in a downward cycle.
News sites, cooking sites, games, music, Q&A, travel, and many other web2 categories that didn’t figure out subscriptions or high-CPM business models fall into this trap.
This isn’t the fault of the sites or the people behind them. They are generally hard working, creative people. The problem is that, until recently, ads were their only option.
This can be fixed by web3 and NFTs. Imagine NFTs that are some combination of collectibles, patronage, social status, and access.
Creators can develop deep, meaningful relationships, with their fans, instead of the transient, transactional interactions they have today.
Creators can get paid appropriately for their work, and users can enjoy a clean, modern experience that doesn’t compromise their privacy with intrusive ads.
We’ve already funded a series of game companies working in this area, and would love to fund teams in other categories.
Lack of genuine ownership and the reliance on ads was the original sin of the internet. We now have the tools to fix this.
===
Originally published on November 8, 2021
Certain categories of web2 websites and apps fall into a usability-monetization death spiral. 🧵
Relying on ads and monetizing at low CPMs, the incentive is to add ever more intrusive ads to increase click rates.
User experience degrades, requiring more intrusive ads, in a downward cycle.
News sites, cooking sites, games, music, Q&A, travel, and many other web2 categories that didn’t figure out subscriptions or high-CPM business models fall into this trap.
This isn’t the fault of the sites or the people behind them. They are generally hard working, creative people. The problem is that, until recently, ads were their only option.
This can be fixed by web3 and NFTs. Imagine NFTs that are some combination of collectibles, patronage, social status, and access.
Creators can develop deep, meaningful relationships, with their fans, instead of the transient, transactional interactions they have today.
Creators can get paid appropriately for their work, and users can enjoy a clean, modern experience that doesn’t compromise their privacy with intrusive ads.
We’ve already funded a series of game companies working in this area, and would love to fund teams in other categories.
Lack of genuine ownership and the reliance on ads was the original sin of the internet. We now have the tools to fix this.
===
Originally published on November 8, 2021
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