David Hoffmann

I mean, wallet first approach rather than social approach, whereas previously they would have been reversed.

They were a social network with a wallet.

They had pretty big ambitions around this, and they've been doing it for five years, and they've built through multiple bear markets.

I don't think it's a good take to say that they haven't tried.

This is Dan.

He said, the goal has always been to build an ad-scale decentralized social networking protocol with one billion people using it every day.

They were trying to get to Twitter-level usage and saturation.

How are they doing that?

Well, it's Twitter.

But it's decentralized was the take.

You own, as a user, you own your own property.

Any client can build on top of it.

We're protocol first.

That was the pitch.

And it didn't take off.

And I'm curious your thoughts on, like, why it didn't take off.

Because I do think they genuinely tried.

And they aren't the only team that has tried.

And there's been, like, Lens Protocol.

There's been a number of crypto social networks that tried.