Mike | Abundance 🌟 pfp

Mike | Abundance 🌟

@abundance

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Imagine a decentralized Amazon, decentralized Uber, Airbnb, Spotify, Yelp, Notion, YouTube, etc. All working not to extract the most value from users, not to keep users glued to the screen thru manipulative and addictive UIs, but working to make the best user experience, provide the most reliable information, serve you the content you want and how you want it, and generally improve your life. To get there we first need a decentralized social network with an open social graph. This allows anyone to build an app or marketplace for real-world services where the reputation of users is known (using zk proofs etc.) while they can protect their data. This way we can have a decentralized "Uber" where the system doesn't extract 25% of fees from drivers. A decentralized "Amazon" that doesn't take 10-15% of seller fees, a decentralized "YouTube" that doesn't take 45% of creator fees, and so on - a whole decentralized economy that puts users in the center. Why not build this?
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Mike | Abundance 🌟 pfp
decentralized social networks are a fundamental building block to a decentralized economy. Why? because decentralized systems don't work without a reputation layer. Right now Amazon is telling you the reputation of sellers. So does Uber, Airbnb, etc for their service providers. And the same is true for every centralized platform out there, from Apple to X. But the interests of these centralized platforms don't align with our interests. They want to extract value from customers & service providers thru market dominance — they are building techno-feudalism. Amazon is not a "free market" for products, and X is not a free market for information. So if we want a vast ecosystem of decentralized markets and protocols to replace our feudal overlords, and if we want to give power back to people, we need to start with a robust decentralized social network. I had high hopes that Farcaster would be that network, but seems the Merkle team is more interested in building an X clone w a wallet.
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This is perhaps one of Dan's most important casts re: farcaster in the past year. It confirms my thesis that: 1) Merkle doesn't have a sustainable business model for FC in mind and 2) FC is squandering its competitive supremacy (having an open graph) by trying hard to be an X/twitter clone with a crypto wallet The great thing about protocols (over centralized platforms) is that you can create a sustainable model where the interests of users ALIGN with the interests of the protocol (more on that here: https://paragraph.com/@abundance/time-to-put-the-user-in-the-center) This is not that. Merkle's current approach indicates that it will be using centralizing vectors (algos, subscriptions, etc.) to keep users "locked-in." A better approach would be favoring decentralization - where anyone can build their own client, app, and so on, and plug into a vast interoperable ecosystem powered by the open graph.
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