Thread by @kavinbm

1/ Some thoughts on the future of social. I just posted a new blog post: "The Rise of Social Niches" - bit.ly/2lCALs3

Summary in the tweets below.

2/ In a world that's evolving so quickly it's strange that social products still feel the same (we're still using products invented in the 2G era). It feels like the right time for the next generation of social products to be created.

Here are 6 principles driving our thinking.

3a/ Advancements in Technology:

- Rise of 4G adoption
- Good smartphones across all prices
- Big strides in AI: Machine Learning, NLP, Vision & more
- Seamless payments & more trust
- The rise of crypto and blockchain

This has opened the door for tremendous innovation

3b/ Bits are cheaper than Atoms

We don't control atoms but we do bits and morphing them is efficient, cheap and quick. One can now bring richer experiences that people enjoy at the top to the masses, faster and cheaper and also in new and novel ways via the virtual world.

3c/ Self worth shifting online faster than ever

40% of people's waking life is now spent on their smartphones. The next generation is far more comfortable online than offline. This is truer in emerging markets where social norms are still catching up.

3d/ Vertical Communities

We don't live our lives in one massive community. We're specific in the activities we engage in (art, gaming, fitness etc). Would be no surprise that these networks would be naturally smaller in size. Some great examples @FortniteGame , @peloton, @whoop

3e/ Consumers as Owners

It's a bit strange that consumers aren't part of the value chain. Turning customers into owners is a fascinating idea and a potentially disruptive one. The technology to do that is emerging quite quickly.

3f/ Newer Business Models

All of the above will give rise to newer business models, ones that will put the customer at the centre. Unlikely to be ads in the traditional sense. Think some form of transactions (micro-transactions, virtual goods, subscriptions etc)

4/ Looking through history of this space, we've seen every new generation build on the advancements in tech and culture. The new products looked nothing like what existed at the time.

In the near future, things like "changing DPs" and even the "feed" will feel very antiquated.

5/ Lastly, there's been little innovation in this space in the last decade. Mostly incumbents using their distribution to copy. That's likely discouraged many people. But maybe that's more room to innovate?

We're excited🎢