Brendan GahanCEO/Co-Founder Of Creator Authority (Influencer Marketing Agency)

Facebook is in trouble with #web3 #deso #bitclout #mfmclips #mfmpodcast @shaanpuri @thesamparr

Name: Facebook is in trouble with #web3 #deso #bitclout #mfmclips #mfmpodcast @shaanpuri @thesamparr
Uploaded: 2022-02-16T13:25:49+00:00
Duration: 33 s
Channel: Brendan Gahan
Description: In this short discussion, the speakers argue that Web3 technologies, exemplified by the decentralized platform Decentra, could upend Facebook and…

16 Feb 2022 · 1 min

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In this short discussion, the speakers argue that Web3 technologies, exemplified by the decentralized platform Decentra, could upend Facebook and Instagram by giving users ownership of their profiles, social graphs, and content. They describe a radical shift where the core social network database is made openly accessible, allowing anyone to build new applications on top of the same data with custom feed algorithms and no censorship. This openness promises users greater choice over how their feeds are curated and opens new avenues for content monetization, positioning Web3 as a disruptive force against traditional, closed social media platforms.

Web3 will destroy Instagram and Facebook. Why? With Web3, users own their profiles, social graph, and content. Sean from the MFN podcast explained this best while talking to the founder of Decentra, a decentralized blockchain platform.
You're turning a social network inside out. The thing that Facebook and Twitter would never do, they would never just give you root access to its database. What you're saying is here's a social network and the database is fully open and available to all. And so you're kind of taking a social network and you take the thing they protect at its core and you're turning it inside out. You're putting it right at the surface for people to use.
That's the big idea.
And what does that mean? That means people are complaining about the Facebook algorithm, right? Fake news, or I don't like that Facebook censors. Well, you're shit out of luck. You can't go use Facebook 2, which has a different algorithm. But with this idea of DeSo, somebody could just make a new app with a new algorithm that says, I'm only going to show pictures of hot girls. I'm not going to censor anything. You get to decide how your feed is curated. And so you could build another app that people could use without starting all over from scratch. So it gives people choice.
I think that's the big idea. Now, all of this has a dramatic impact on how users can monetize their content, something I'll cover next.