Profile picture
Chris Burniske
@cburniske
, 6 tweets, 2 min read Read on Twitter
Status as a Service (StaaS) has played its cards in Web 2.0, the next iteration will be in Web 3.0: eugenewei.com/blog/2019/2/19…
For the young, social signaling in the digital world is already more important than flexing in the physical world.
Meatspace will only continue to lose share to digital-space due to its abysmal distribution and high marginal costs of production.
In the digital world, status can be manufactured from a capital base of zero.
And for the young that lack meatspace capital and alway seek the new, the digital world is the highest leverage and most expedient avenue, the obvious choice.
Thank you @eugenewei, what an amazing article 🙏 + @dillchen @hicommonwealth for putting it on @placeholdervc's radar.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Chris Burniske
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @cburniske see all

Profile picture
Chris Burniske
@cburniske
The recent tumble of $BSV shows the importance of application interfaces as distributors in cryptoland.

While application interfaces operating atop open protocols can’t directly censor an underlying protocol, they can strangle distribution and therefore users.
Note, however, if demand remains for the underlying protocol, an opportunistic interface may add support or stick around to service the #cryptoasset’s userbase.

It will have less competition from other interfaces given many have left the field, and therefore a greater incentive.
The application interfaces as “distributors” that don’t have monopoly access to the underlying resource (very different from Web 2.0 things like $FB) is going to be a fascinating landscape to watch unfold.

The suppliers and consumers should win as the distributors duke it out.
Read 3 tweets
Profile picture
Chris Burniske
@cburniske
.@jmonegro’s abstraction of what capital represents is one of my favorite pieces of his since Fat Protocols. placeholder.vc/blog/2019/2/19…
“Capital is, in essence, the power to organize the economic resources of a social system, and its worth a function of how much of those resources can be directed to the holder’s benefit.” -@jmonegro
Joel’s exploration of capital goes beyond investment and productive capital into the lands of political and social capital, where the power to guide resources is just as valuable though harder to quantify.
Read 3 tweets
Profile picture
Chris Burniske
@cburniske
In cryptoland, paper law is a second class citizen to cryptographic law.
Certainly, paper law can still enforce with authority in the meatspace, forcing bad actors to atone.
But in cryptonetworks, if the paper law isn’t encoded in the protocol (ie, “cryptographic law”), it has no native say over how the economy functions.
Read 5 tweets

Related threads

Profile picture
Karol 🌿
@karolcummins
💔🇫🇷NotreDame🇫🇷💔

Fire fighters in Paris announced that they will not be able to save Notre Dame Cathedral

Macron Pledges To Rebuild Notre Dame Cathedral “Because It Is, In Deepest Sense, Our Destiny”

I am absolutely heartbroken.

The entire world mourns with France.💔🙏🏽
💔🇫🇷NotreDame🇫🇷💔

Commander of the Paris fire brigade: "We can consider that the two towers of Notre-Dame are saved"

Good news: all the artworks have been saved. The treasure of the cathedral is intact, the crown of thorns, the holy sacraments. #NOTRE_DAME
💔🇫🇷NotreDame🇫🇷💔

Social media users and politicians express solidarity with Parisians

Macron’s plan to set out a fix for 'yellow vest' anger postponed due to ND fire.

Schiff and Nunes sent a bipartisan letter asking for a briefing from Mueller and his team late last month.
Read 83 tweets
Profile picture
Rahul Desai ¯\_(ツ)_/¯
@RDesai01
Doing a notes tweetstorm on @eugenewei's Status as a Service: eugenewei.com/blog/2019/2/19…

Hopefully this will be good motivation for me to sit with it and really read.
@eugenewei Two beginning premises:

1) People are status-seeking monkeys.

2) People seek out the most efficient path to maximizing social capital.

Wei begins with these because few would dispute them but they're also rarely used to analyze social networks.
This is partly bc we lack ways to measure the values & movement of social capital with the same accuracy and precision we do financial capital.

But "social capital is, in many ways, a leading indicator of financial capital, and so its nature bears greater scrutiny."
Read 82 tweets
Profile picture
Adam Thomas
@datatheism
This article is a brilliant take on what a social networks *really* are. Think of them as SaaS businesses, but instead of software, they provide status. eugenewei.com/blog/2019/2/19…
@eugenewei (Former Head of Video at Oculus, Head of Product at Flipboard and Hulu) calls this Status as a Service. I'm going to try a very hasty summary that does the full article a disservice.
Basically, @eugenewel argues that the value of a social network relies not simply on utility (finding friends etc.) but its ability to confer status. Can I use the social network to accumulate social capital?
Read 11 tweets
Profile picture
Nathan Baschez
@nbashaw
Finally finished “Status as a Service” and it’s just as good as everyone says it is. Some will say it’s obvious and already widely understood, but I’ve never seen anyone lay out the mecanics this clearly.

eugenewei.com/blog/2019/2/19…
One additional thought:

I would love to see research on how the brain responds to online status gains vs. status built in other ways. I get some joy from doing a good tweet, but a lot more joy from being a respected part of a team.
To me the main value in Twitter is that I am able to meet people I wouldn’t otherwise have been able to meet. These relationships are the real social capital I actually care about.
Read 7 tweets
Profile picture
Eugene Wei
@eugenewei
Now that the hardcover window has passed, and since people don't read, here's a Tweetstorm summary of Status as a Service, which I'll abbreviate as StaaS (h/t @naval) to disambiguate from SaaS. eugenewei.com/blog/2019/2/19…
A whole class of companies are better understood as Status as a Service (StaaS) businesses. This is especially true of social networks.
Status as a Service businesses are best analyzed along dimensions of social capital. They build off two principles:
* People are status-seeking monkeys
* People seek out the most efficient path to maximizing status
Read 26 tweets
Profile picture
Tren Griffin
@trengriffin
"Wealthy people tend to receive a much more direct and immediate payoff for their time which is why they tend to be better about valuing it." That's a sentence from the invisible asymptote essay by Eugene Wei. Those with $$$ are more willing to subscribe. eugenewei.com/blog/2018/5/21…
"The less cash a consumer has available, the more valuable optionality is to that consumer." This means non wealthy people are less likely to lock themselves into a subscription. The longer term the commitment, the harder it is. 25iq.com/2018/08/11/how…
Unfortunately, this is why subscriptions are unlikely to scale very much beyond affluent consumers for a service like journalism. Don't shoot the messenger on this point. I wish this was not true and I hope I am wrong. Another solution will be required since news = a public good.
Read 3 tweets

Trending hashtags

#FDR #Senator #ciswit #internment #GaySteelMIll #honours #HomervLisaandThe8thCommandment #field #Brockway #Homertime #SheReady #SenorBeaverotti #EO #masterpiece #CapeFeare #constitutional #Gnosticism #VicePresidentCletus #bigotry #children #martech #antifreewill #Kodos #fashion #computing
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!