sari

More people actually own content in Second Life than own an NFT—vastly more. And these NFT-connected metaverses like Decentraland have very tiny user bases mostly populated by people who’ve invested in it. If you buy land in Decentraland, you have an incentive to have people come in.

That’s where status comes in.

So: reputation markets are inefficient, which means we need to find ways to incentivize social capital investing. What could an AngelList for social capital investing look like? P2P credentialing could be one approach.

At Decent, we view artist monetization as a question of incentive alignment: how might an artist and their fans share in value jointly created? To answer this question, we need to move beyond patronage.

Moreover, I’m excited about the real user benefit that can come from balancing algorithms and curation: while Facebook and Google rightly focus on algorithms only, most content is best delivered by a mixture; getting that mixture right will likely prove to be both massively popular and massively valuable.

Above all, they don’t want to be on the same social networks as their moms, dads, aunts, uncles, and grandparents.

In the process, though, Mr. Dorsey said he now believes that he made a critical mistake: not hiring experts to help him understand the potentially far-reaching importance of apparently small design choices.