The End Of Web 2.0...Build Rituals Not Habits
I have no idea what to call this next era of the web. Last year I was calling it web 3 because it was good enough for Fred Wilson and so I am sticking with that.
Web 2.0 was glorious for me and I am so lucky to have been able to build and participate. For the most part, the winners of web 2.0 will come out of this recession/bubble/hard times/ stronger than ever which is a major reason not to start a web 2.0 company going forward.
Good luck today building a scale web 2 idea in the gated world of the app stores, and social networks. Money is expensive and so is buying a user let alone a customer.
If you must speculate on Web 2, I would bet a broken public web 2 stock is the way to go. That is what I am doing.
So if the puck, multiples and 'smart money' have moved away from Web 2, where do we look? How do we think about valuations? What should cap tables look like?
This is all I think about (and my partners at Social Leverage) when I have time or when we take pitches and talk to founders about their teams and products and plans.
Obviously crypto is one direction and I will continue to take flak as I continue down the NFT (loyalty, VIP, events, tickets, experience) rabbit hole.
Another direction which is always a choice is 'bootstrap' and when we talk to founders we try and drill down on is venture the right way to go.
Someone else thinking about this I found is Anu who I am now following and she had a great piece on the subject. She writes that 'rituals' not 'habits' will define the next era of social apps. Have a read.
I think this 'ritual' approach and thinking applies to all products, brands and communities as we move forward. The margins will be better as well.
I will keep on this subject on my blog here for the next year I imagine as this transition gets in full motion.
If you are a founder and thinking like this...hit me up!