"Respectfully, for as long as ROAS is negative they are nothing more than a meme regardless of any ethical or philosophical considerations."

this simply isn't the case. this logic implies that tesla, rivian, all negative earnings startups are memes, until they achieve profitability, which is obviously not true. if ROAS is negative then the advertisers are overpaying. in a peer to peer marketplace unobstructed by fat cats and data silos emerging from primitive architecture, advertisers would simply be able to pay less and achieve profitability.

Further, Base's model which allows the ad purchaser to define success and pay on conversion removes a lot of guesswork that was previously involved in the process.

The simple notion that zora coins are a tokenized representation of a granular unit in the attention economy means they are more than a meme. An idle taxi without people in it is still a business.

"the value of an ad has an indirect correlation with the reason Jeff Bezos is on the app (i.e., the content) and a direct correlation with how many times an ad will be shown, how valuable he is as a customer, and how many ad networks want their ads in front of him at the same time."

this is true but right now in the CT dialogue people are not grasping the concept that content is inherently valuable. this is admittedly due in part to Base's comms blunders, but the bezos example is a clean microcosm of what is actually going on behind the scenes. There is a reason why ARPU is so much higher for US vs lower GDP per capita nations. Bezos is the extreme, undeniable example to prove the point. Yes, the true value of the add is the total summation of the bezos' and all the other people that see the ad and their value to the ad agency. which is a function of the impressions it receives, the virality potential etc

it is kind of contradictory to say platform that is the source of value when it comes to ads, but also concede that the apps core job is to show as many ads to a user as possible without breaching the threshold where they leave.

Even Twitter pre X takeover, the reason they justified censorship was that they were losing advertisers bc of the content on the platform. this smells like bs to me, or at least a problem of their own making, bc if you dont get involved ads are just ads and everyone just treats it like the elephant in the room. once you do youre kind of assuming role as the publisher and ggs, but what do i know here, i digress

Ultimately the business model is built upon an inefficient market where first movers have walled data gardens that breed network effects. If you remove bandwidth limitations from zkTLS or universally embed native browser verifications and undermine this primitive characteristic, you'd end up with this sort of modular base layer and decentralized front ends bc creators would have 0 switching costs and it would be a race to zero.

People dont buy reddit or X or instagram merch, they buy logan paul merch and kim k makeup and stuff. I'd argue the platform's real value add and only proprietary reason for existence is the algorithm. it is non trivial to make a competing algorithm, and properly dialed in algos that work for users reallly work. But even then it's never really yours. ultimately social platforms are just like uber, doordash, airbnb and other web2 peer to peer marketplaces. they are the middle child of innovation and are surviving on primitive, frankly embarrassing market dynamics.

such as? im holding my airdrop, have tried out kuru and a couple of the apps. rabby wallet/ existing hw wallet setup you are used to is clunky and not fun. switching over to kuru wallet is better and can enjoy some UX improvements over status quo. the apps ive tried are fine, not game changing. i dont think monad is DOA, but they need to use raise money and treasury to do something cool and support a big app

guess we'll see. shooters shoot!

The encyclopedia of prediction markets! ty neel!

Noiceee

LFG

agreed!

incredibly ambitious. if it works, it just might change the fabric of society

love it rinko

none atm, i would def do the zkpass points program, they have $zkp (bullish ticker) announced and the points program is actually a p fun and easy way to see the different types of data points we can access

Thank you!

Yeah, farcaster high level metrics aren’t pretty rn, but you can’t tell that when using it. The timeline is the same as twitter, as in like, for a single person, it doesn’t matter if there are 40k or 5 million users bc the experience is roughly the same. Also the user demographic on farcaster is a higher value on average, lots of KOL type people. Farcaster probably does a better job of algo boosting signal from builder type people, almost like twitter did last cycle.

Regardless, they stuff they are building there is really cool. Rn frames v2 is the biggest tailwind. On a longer time frame, I think capabilities of web3 social will be too much for web2 to compete with, but short term yeah Clanker may rely on ecosystem projects to expand its reach. I’ll be looking at doing a follow up to this once the ecosystem forms better and will look to cover farcaster in that

Touché

Can you elaborate? Seems to me like it is just an experimental pvp form of rate limiting that helps taper off dead tokens/vitalize the battle around the cut line

Yeah Clanker is the bot token and proxy is the proxy swap dao token. Barkbark is a meme and pure degen play, team hasn’t been endorsing it or anything really. Test in prod vibes

Yeah have seen lots smart ppl be bullish wayfinder, was focusing on liquid stuff for this to help quantify the narrative but will def be looking closely at PROMPT leading up to launch!

Make onchain stress-free again!

A+ title

Yeah I still really like IPOR. planning to cover it again when timing is right. The swaps are cool but I think fusion and some of these structured products will succeed first