1/ It's 1995. Netscape is the dominant browser. Your laptop costs $6,000. The World Wide Web has 16M users.

And GeoCities is the 3rd-most-popular website in the world.

"Community" is again becoming the defining word of the internet. In many ways, community began with Geocities. Image
2/ GeoCities helped people discover the internet & find like-minded people online with "Neighborhoods"

GeoCities had 28 neighborhoods built around interests, like Area51 for sci-fi & fantasy and Hot Springs for health & wellness.

Early web users found community & belonging. Image
3/ In 1995, Bill Gates said: "The internet is becoming the town square for the global village of tomorrow."

Before Google & search, GeoCities helped people understand online community through the familiar paradigms of neighborhoods and, within neighborhoods, blocks.
4/ One early GeoCities user remembers:

"The idea that in the beginning, cyberspace is an empty space that has to be populated, was I think easily linked to this idea of America being an ‘empty’ continent. GeoCities provided web space with a story, with a narrative." (@business)
5/ GeoCities shut down ~10 years after Yahoo bought it for $3.7B in 1999

But its ethos of belonging & concept of online communities can be seen in today's 7M Discord servers or 1M+ subreddits

The internet is niche & as more people come online, niches grow big & new niches form. Image
6/ The legacy of GeoCities is helping people transition from real-world communities to online communities with the familiar metaphor of neighborhoods.

In a time when online "community" is again a buzzword, it's interesting to look back on where it started.

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More from @rex_woodbury

28 Apr
OnlyFans 2020 numbers:
• Revenue grew +553% to $391 million
• Users grew 5x from 20 million to 120 million
• Over 300 creators made more than $1 million

OnlyFans' success is a fascinating combination of business model innovation & the desire for online belonging.

👇👇👇
OnlyFans' business model lets creators stitch together subscriptions, tipping, & microtransactions.

Creators can send out locked DMs that look like personal messages, but are sent en masse to thousands of subscribers. One message can earn a creator thousands of dollars.
Locked DMs are a way for creators to earn income at scale and for subscribers to feel personally connected to the creator.

@lucymort_ calls this “the commodification of intimacy.” Online relationships with OnlyFans creators can become replacements for real-life intimacy.
Read 8 tweets
16 Apr
1/ Cash App overtook Venmo by embedding itself in culture and by targeting *all* of America, not just NYC, SF, and LA.

Over 200 hip-hop artists have name-dropped Cash App in their songs—the app has captured the zeitgeist in a way that Venmo hasn't been able to.

👇👇👇👇👇👇
2/ Venmo had the headstart, founded in 2009 to Cash App's 2013.

The founders wanted to pay each other for a weekend trip without writing a check, and figured they should be able to use SMS

It was a similar insight to the one PayPal had a decade earlier with payments over email.
3/ Cash App was created by Square in 2013 and operates like a startup inside Square.

While Venmo took off in big cities like NYC and LA, Cash App focused on the South.

Payment network effects are often hyper local: you sign up for the app that your friends are using.
Read 9 tweets
16 Apr
1/ Survey of Gen Zs—66% prioritize financial stability over doing something they enjoy. This is a pretty stunning reversal from the Millennial mindset.

We're seeing the ripple effects of a generation that grew up during the financial crisis.

(Source: XYZ University)
2/ In David Brooks' words:

“Children can now expect to have a lower quality of life than their parents, the pandemic rages, climate change looms, & social media is vicious. Their worldview is predicated on threat, not safety.”
3/ This worldview built on threat instead of on safety is clearest in young people's distrust of institutions & companies.

Many watched their parents work within “the system” and be promised good lives and stable jobs—only to be laid off during the recession or pandemic.
Read 6 tweets
15 Apr
1/ Interesting exercise: ranking Disney's acquisitions of Pixar, Marvel, and Lucasfilm (Star Wars).

My highly-unscientific ranking:
1) Marvel
2) Pixar
3) Lucasfilm

Rationale 👇👇👇
2/ Marvel, which Disney bought for $4B in 2009, wins for delivering $20B in box office grosses, 11 upcoming films, and 12 series for Disney+.

Credit goes to Kevin Feige for getting such high ROI out of this acquisition. 5,000+ characters (!) yet to tap into. Image
3/ Ranked second is Pixar, which Disney bought for $7.4B in 2006. It was Bob Iger's first acquisition as CEO.

$11B in box office grosses since, but my sense is Pixar's true value comes in merchandise and IP value to the parks. Image
Read 6 tweets
14 Apr
1/ Different mediums lend themselves to different people.

FDR was successful in large part because of radio. If TV had existed, he likely wouldn't have been president.

JFK was elected largely *because* of television. Same with Obama and social media.

More examples 👇👇👇
2/ Radio was built for FDR. He had a calm, soothing voice and a knack for connecting with the American people.

Even before running for president, FDR used radio to host monthly chats with New Yorkers while governor.

Meanwhile, virtually no one knew that FDR was in a wheelchair. Image
3/ Two decades later, JFK used TV to fuel his rise. JFK's good looks, youth, & charm made TV the perfect medium for him.

Much of JFK's campaigning was done on TV, and he was acutely aware of its power.

Five days into office, he delivered the first live press conference on TV. Image
Read 9 tweets
14 Apr
1/ I continue to think that Baby Boomers are tech's most underserved demographic. Huge market + decades-long tailwinds.

Every day, 10,000 people in the US turn 65. By 2040, 1 in every 5 Americans will be over 65, and 50% of the population is already over 50. Image
2/ Baby Boomers are already the wealthiest generation in history, collectively earning double that of the “Silent Generation” above them. Boomers control 70% of U.S. disposable income and 50% of U.S. consumer spending dollars.

Yet just ~5% of advertising dollars target Boomers. Image
3/ And they're underratedly tech-savvy.

Boomers make up a third of all internet users, 90% have a computer, and 70% have a smartphone.

30 million US Boomers call themselves “heavy Internet users"—roughly defined as using the Internet for 15 hours or more each week. Image
Read 4 tweets

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