Sure, but good luck raising another fund. Fees also have to support the fund, etc. Still can make life-changing money, but $20-40M post tax in SV is just an early employee at a successful startup. So your "SV career" is kind of over. Many people will say who cares / I would take that deal, but the reality is most people in "SV" (even not living there) are status driven. Again, not saying he's doing this / won't be able to return and raise another fund. Just going to be super hard. No risk, no reward.
there is status is having something that sells well? not the same as social status, but still status
tedditAnother observation that took me a while to properly model: people use Twitter differently. Most people don’t post. It’s a news and entertainment app. Fodder for a group chat. For people who post, they post for their group of friends also on the app. For a very small group of users—but the group of users that makes Twitter valuable—it’s a PVP status video game. Engagement turns into followers which is the intra-network relative metric of status. Even more so since Elon killed the Ancien Régime blue checks. See also @packy’s The Great Online Game. https://www.notboring.co/p/the-great-online-game
socialWhich happens all the time IRL? Status seeking monkeys going to status
I don’t think I improved anything and no plans this year. Status quo?
AMA1. Where do they spend time today, 2. How are they underserved by that platform? 3. Can you find 10 people that are extremely unhappy with the status quo and are willing to try your channel 4. Be the most active user in the channel, reply to every cast thoughtfully
AMAStill not understanding. Channels are a way to earn status of they are good an attract a community.
Like is as valuable as the status of the person giving it
But if I'm a top 1% talented 18 yo and I have opportunity to go to elite university that guarantees increase in status vs. bet on some new thing, it needs to have an appropriate payoff relative to the risk. This is why Thiel and YC work. The money and shortcut into an elite network.
Elite universities are selling status. That takes time to build. Most talented young people seeking status don't want to be in the generation of students who don't get the status. Thiel Fellowship and YC are more interesting competitors since they have crossed the status threshold.
1. Entertainment 2. Meet new people 3. Increase status / audience
May work, but what’s a real life example of being able to buy your way into a club that people think is high status? (There are always exceptions, but as the primary avenue for joining.) Country clubs are more about who you know than how much you have.
Twitter a different game than Facebook / Instagram in terms of new user activation. Most people lurk so networks not based on immediate friend group extremely hard to activate avg. person (who isn't wired to play an online public status game like Twitter). Contact book upload unlikely be well-received at this stage.
So just to push — if Warpcast thinks it’s legit then security threat is no different than status quo in that if you don’t trust us… :) cc @cassie who can weigh in on security trade offs honestly
Make manufacturing high status! https://twitter.com/zackkanter/status/1708549516851630306
Have been asked a few times what I think about Friend Tech: - Based on Crypto Twitter, Racer and team are deeply cryptonative - To date all successful crypto apps have had a financial game - Social networks are about status, which is earned - To date all social x financialization haven't worked So I have no idea!
I think Racer deeply understands crypto culture. So not surprising Stealcam and Friendtech have been hits. My pov on social networks is that they are status based. Hard to mix speculation / overt financial incentives, esp. upfront. But always a first time for an exception!
Sorry was referring to the decentralized primitive above. I’m skeptical that a social graph built on speculation is sustainable. Have seen several attempts before. Could be wrong. My pov: Social graphs are about status, not speculation. There’s a bit of overlap, but mostly a different beast.
Example of someone who accrued actual status as a advisor? Silicon Valley antibodies are pretty good at sniffing out value creation most of the time.
It’s not as much about the graph (which is important) as it’s about the habit / muscle memory of the status quo app. Much harder to overcome.
.@0xfoobar By subdomains do you mean more specific namespaces, e.g. Farcaster fnames being name.farcaster.eth? My guess is if the root .eth namespace is available it will command higher status and value. https://twitter.com/0xfoobar/status/1687209523239604230
Do you think LK-99 or equivalent breakthrough leads to increased power to status quo countries or more of an arm the rebels situation?
What historical technology have been adopted in developing countries and then become the norm and high status in developed countries?