timdaub
@timdaub.eth
The Moloch equilibrium Farcaster is in right now: 1. Founder builds a PMF mini app. 2. Finds that PMF mini app can capture entire Farcaster audience. (It's great) 3. Finds that growing outside of the Farcaster distribution is the way to re-underwrite the project for investors. 4. Result: Every founder thinks that way therefore Farcaster, the protocol, doesn't grow. It stops finding investors that want to keep underwriting it. Eventually even the projects which built on top of it fail too as their PMF fades by virtue of the substrate protocol failing. This is what @ameensol and @jamesyoung discovered happened to "ETH 2.0" when it failed scaling in 2018. I lived through this on Ethereum with them. So by launching MolochDAO @ameensol and @jamesyoung successfully re-educated the Ethereum community to stop just investing in dapps. Farcaster is literally caught in that Moloch trap. How to fix this? Best possible reading material: https://slatestarcodex.com/2014/07/30/meditations-on-moloch/
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timdaub
@timdaub.eth
I asked ChatGPT what it thinks Scott Alexander's essay suggests of how to overcome the Moloch equilibrium trap
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ken
@tipsysquid
is there a reason to not pursue app specific standalone farcaster client? * start: miniapp + farcaster native users * new underwrite: standalone farcaster client + new onboarded users + miniapp
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Dan Romero
@dwr.eth
Just use mini app as top of funnel and upsell your daily actives to your own app. That’s a win-win.
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misha 🪨
@mishaderidder.eth
Reading this also made me remember how I started in crypto back in the days. The first DAO I participated in was a Moloch-style DAO facilitated by DAOhaus. I always liked the system and it worked well (up to a point when the DAO became redundant). Later I was in token-based DAOs which were mostly quite detrimental because they are easily captured by large token holders. One might argue that @purple DAO (which is a nounsDAO system, much better than the token DAO I think) could (should) be the MolochDAO for Farcaster, but I feel it never really took off. Maybe it’s time to ask what it can do for Farcaster protocol? (Not the app.) I think for the protocol to be successful (and interesting) in the long term it should expand beyond the current Farcaster app and become a true ecosystem. It’s something that seems to be forgotten.
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