Ben’s List 60

Article

Web3

Bootstrapping Web3 Networks: The Limitations of Token Incentives

“One of the most important principles of bootstrapping a network is to start with the most underserved users. Acquiring users is not enough to reach liquidity. You also need the right type of users, i.e. those who feel the problem most deeply and would put up with any amount of friction to engage with your network. When you acquire these users, activity outpaces adoption and the utility of the network grows. As a result, the network becomes significantly more valuable for newer users. This is especially important for networks that require active participation from users — because liquidity requires recurring engagement, not just one-time adoption.”


Business

The metaverse sucks — IRL meetings are the way to go for growth

“In-person interactions do something that a virtual room full of Sims-style avatars can never achieve — they build relationships, rapport and trust. They allow you to look a colleague or business partner in the eye and relate to them as a fellow human — just as our ancestors have done for thousands of years. That’s obviously important for growing a business by forging relationships with customers, but it’s crucial for internal purposes too, not least building a strong company culture.”

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