Q&A Feed

Anything geared towards specific communities is a massive opportunity. I have this pet theory that any subreddit with a million plus members should be a $10 million a year business. And, that’s not to say that all clients or channels should be businesses. But, I genuinely believe that every kind of niche internet commu...

Fundamentally if you ask any of the developers who are here today, the number one thing that they want for their app is users and if the protocol doesn't have users then they're not actually getting what they want from Farcaster. So I think of the Ronnie Coleman point - everyone wanna be a bodybuilder, but nobody wann...

Shoutout to Cassie - it's important to have people who stand up and ask “When is it going to be decentralized” and “Why is it not good enough right now?” So to get to those two questions - first, Base is open and permissionless. We spent 9 months creating the Law of Chains, a neutrality framework that we constructed w...

I think decentralized social will not go mainstream by being a decentralized substitute to what is social. I think it has to provide a fundamentally new experience. And I strongly believe that digital assets will upgrade what it means to be online. I think supporting creators, finding meaning and expressing yourself by...

So a bunch of the VCs are actually here today, but generally: 1. The people we're working with are all great people 2. Varun and I are ultimately the final decision makers on everything There's this meme that somehow the VCs are kind of pulling strings from behind the scenes, but the reality is they ultimately want u...

I think the short answer is a billion is four orders of magnitude away from where we are today and there's a lot we don't know about what's gonna break on the path to getting there. What we've been thinking about is how do we get the next 10X to a million users? And there's a very, very long github issue with all the t...

I think we're close. It goes back to those three thing I talked about. First we need cheaper everything, and we've been making progress on that. With 404, we saw cost go down 10x and usage go up 5X. We need it to be really cheap and easy for everyone to be on chain. The second thing is identity and social substrate...

I think it's just I think that there's this thing in crypto where people love focusing on the decentralized governance before they've actually built something valuable. And I'm like, okay, let's get to something that is actually sustainable where you have 10 million people using it every day. And if we stop working on...

I don't think it should be owned by anyone, to be clear. The important thing about onchain is that for the first time, we own everything ourselves. I think it's going to become much more heterogeneous and emergent. There's not going to be a reputation protocol. Instead, there are going to be millions of applications...

We tried to contribute to a protocol without distribution of product and then we sort of lost to a product that HAD distribution. So I think Dan’s advice of product-led protocols and being close to your user and getting your product out is one of our key learnings.

It kind of seems like a lot of people follow these grandiose plans to do a crazy startup idea that's gonna change like the world or like Tesla or SpaceX, and the thing that I found out with Degen is that we just created a hat coin that’s now breaking new grounds with Layer 3s. I was just messing around on my computer t...

The more clients we have the more avenues people have to interact with the protocol and the more ways in which we can onboard people. I'm very excited for Supercast to onboard more people and I'm also very excited for what Warpcast is doing to onboard more people. The more clients that we have the better as long as the...

We have no plans for a token, and I think that's been one of the greatest things about Base thus far. It allows a lot of emergent creativity to happen. You've seen a lot of other people filling the space. That's also forced us to just do things better. In the last nine months we didn't have $100M or $200M worth of toke...

When I was leaving my fund Scalar Capital to transition to go back to building something, we were excited by bounties as a whole because we really love the idea that people can globally earn crypto seamlessly for doing work. But one of the big issues is the cold start problem. It's so hard building a separate platform...

With L3s, apps can now sponsor up to hundreds of millions of transactions and so you can now onboard people into those applications and onchain with them never having to bridge over. And so I think that gets uniquely unlocked because the design space is so constrained by right now L2 gas space. When that goes away with...

During Onchain summer last year, we went in feeling like we had to have something really good every day or it was going to fail. But when I look at what was the most inspiring and generative, it was actually the stuff that emerged organically that people around the world made in a matter of days. In decentralized econo...

It's because we've been able to combine two things in a way no one else really has. First, Coinbase is a trusted brand that's been around for literally twelve years. We had to figure out how to carry that brand into a maximally decentralized context. A key piece was deciding to build on the OP stack [rather than a ne...

It's this classic thing with network effects and exponential growth before it blows up, they look so small and not interesting to someone who is already at scale. So I think it's extremely hard to time, and when they will see Farcater as an inflection point, it will be too late because I think it's gonna have enough mo...

There's a fundamental problem which is that most networks tend to ossify and the original contributors get set in stone, and it's really hard for anyone who's later to get into that in the same way. And I think that there is a powerful counter to that, which is to have a lot of different interfaces for the same thing....

🧙🏼‍♂️🧙🏼‍♂️ Done.