Web 2.0

In web2 we talk about “users” and “viewers” being “acquired” In web3 we talk about “owners” and “members” who “join” and “participate.” words matter & we’re seeing an ecosystem and language get built around purposeful action in a very cool way.

Sometimes we don’t quite process that billions of people on the planet get unlimited entertainment, voice and video calling, maps, restaurant reviews, weather, news, an encyclopedia, mail, messaging, and more for *free* just because 1-2% of us click an ad every now and then.

Web2 moat: network effect Web3 moat: composability

web2: retention is easier than growth web3: growth is easier than retention switching costs in web3 are lower than web2 because of interoperable data