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RE: Network Effects And The Flywheel

in LeoFinance10 months ago

I think the points you brought up will definitely help with the retention. But I also think we need to change how Hive is being marketed to new users. They are told that they can earn a lot just by posting. What ends up happening is that they earn very little on their first few posts and end up quitting. The better approach would be something like, "Hey, I saw you are posting travel pictures on Instagram. Why don't you try posting it on Hive too, and maybe you can get a few bucks while you're at it." If we saw an account on Twitter gets banned unfairly, or their post gets taken down, we can point them to Inleo.

We need to inform them of the benefits of Web3, and not just entice them with the chance of making money.

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People need to stop thinking of Hive as a social media network. It is not that. We are dealing with a database can be used for a variety of purposes.

The social media is built at the platform level.

I think the only way for the variety of purposes to materialize is if a big company decides to invest in Hive.

So you are saying the only way anything other than social media appears if with VC money.

With the current market situation and public sentiment, in a way, yes. Those "variety of purposes" need a good amount of capital to pay for the writers, the servers, and other fees. They can maybe try to go for ad revenue, but I don't think it will be enough. If they try to offer something already existing and established in Web2, then it will be an uphill battle of trying to get users. With low users, I don't see a lot of advertisers coming and paying a lot.