Agree w @ljin18 that many any more communities will shift from big social to bespoke community platforms.
But I'd add that the SaaS products accelerating this trend will soon feature a crypto backbone. Why?
Crypto is a new stack for building internet businesses. Thread.👇
But I'd add that the SaaS products accelerating this trend will soon feature a crypto backbone. Why?
Crypto is a new stack for building internet businesses. Thread.👇
First, it's helpful to first view existing crypto networks as the earliest examples of the new internet-native business stack in action.
Consider the very rough analogy that Bitcoin provides a somewhat equivalent service to PayPal. They both store and xfer value from A to B.
Consider the very rough analogy that Bitcoin provides a somewhat equivalent service to PayPal. They both store and xfer value from A to B.
But whereas PayPal is a US company with employees, Bitcoin was built by an internet community of passionate, capitalist cypherpunks that collectively own and operate the network.
In place of PayPal's employment agreements, the rules for compensating the work done in the Bitcoin network is expressed in code. The payments are programatic. Talent is open to anyone on the internet, not just those who can fill a W-2 tax form.
Now say you and I run a subreddit community and decide to start a business... Well, if we each live in different countries, it's complicated.
Where to incorporate? Where to bank? How to split payments? Who do we hire to set this up? How much will it cost? How will we pay?
Where to incorporate? Where to bank? How to split payments? Who do we hire to set this up? How much will it cost? How will we pay?
SaaS products can abstract some of these steps, but they're built on a legacy stack that passes high fees and platform risk on to us, the founders.
We won't own our business. We'll just share our revenue with the platform. And we'll build by their rules.
We won't own our business. We'll just share our revenue with the platform. And we'll build by their rules.
Smart Contract platforms like Ethereum are new stack to express rules of economic collaboration as code.
Plus, they enable allow packets of value flow like packets of information...with very low marginal cost, to anyone, anywhere.
Plus, they enable allow packets of value flow like packets of information...with very low marginal cost, to anyone, anywhere.
This means we can now:
- “Incorporate” a business digitally and own it like we can own digital gold (BTC)
- Earn, save and spend together
- Reward contribution with micro-payments that grow community and loyalty
- Integrate #DeFi for real-time payroll & borrowing
- “Incorporate” a business digitally and own it like we can own digital gold (BTC)
- Earn, save and spend together
- Reward contribution with micro-payments that grow community and loyalty
- Integrate #DeFi for real-time payroll & borrowing
Developers and crypto enthusiasts are the first communities building internet-native bizs in this way, but I believe many more communities will follow suit.
SaaS products that build on this new stack will be able to offer better economics, alignment and flexibility to founders.
SaaS products that build on this new stack will be able to offer better economics, alignment and flexibility to founders.
sorry for all the typos, burnt the midnight oil!
