Jack Dorsey Calls Social Media "Algorithm Store" The Greatest Idea

Jack Dorsey on Decentralized Social Networks

In a recent interview from Mike Solana of Pirate Wires, Jack Dorsey (Twitter co-founder and former CEO) revealed the turbulent past and uncertain future of social media as we know it.

The conversation touched on Jack’s departure from Bluesky, the juicy details of his past issues at Twitter and his current support for decentralized social protocols.

Dorsey's reflections offer a profound commentary on the evolving landscape of social media, infused with a healthy mix of fear and excitement about what lies ahead.

You can read the full interview here:

I hope as many people as possible read this interview and truly grasp what Jack is saying.

I respect Jack and I think his ideas matter. His insights into the emerging landscape of decentralized social networks and various approaches to open source social media is foretelling.

Of all the people in the world who can speak intelligently on the topic of social networks, Jack is definitely in the Top 10.

That said, I wanted to break down some of Jack’s comments from the interview and provide my own insights into why, what he’s saying, presents a massive opportunity to those who are paying attention.

The Birth And Evolution Bluesky

In the interview with Mike Solana, Jack talked about Bluesky which initially had the goal of being an open source protocol layer for social media platforms.

Bluesky was initially built as a Twitter alternative. It hopes to solve many of the problems traditional social networks face due (primarily) to their roots in centralized control and their ad-based business model.

Dorsey's inspiration came from his experience at Square, where funding open-source developers to work on the Bitcoin protocol had proven beneficial. He aimed to replicate this success by creating a decentralized protocol for Twitter, separating the protocol layer from the company itself.

However, Bluesky's journey deviated from its original path. Dorsey lamented that the team ended up "literally repeating all the mistakes we made" at Twitter.

Instead of becoming a truly decentralized protocol, Bluesky evolved into just another social media app, with a board, VCs, and a centralized structure.

This deviation has led Dorsey to shift his support to Nostr, a more decentralized protocol without a central authority or corporate backing.

If you’re on Nostr, let’s connect!

Today, we also have decentralized social protocols like DeSo which serve as a base layer blockchain to support web3 social media apps, SocialFi primitives and native monetization tools for onchain content creators. More on this later.

Twitter Problems And The Need For Decentralization

Dorsey's tenure at Twitter was plagued by several challenges, including a hostile board with an activist member, and inherent flaws in its business model reliant on brand advertising.

Jack identified what he called the core “critical sin" of Twitter as a dependency on brand advertising, which made it susceptible to external pressures and censorship.

One of Dorsey's most striking insights was the assertion that social media companies cannot remain censorship-resistant without moving to open protocols.

"We need to change the foundation everything is built on," Dorsey stated.

This belief underscores his commitment to supporting decentralized solutions like Nostr, which he sees as crucial for preserving freedom of speech and avoiding the pitfalls of centralized control.

The Elon Musk Saga And Taking Twitter Private

The interview also shed light on the dramatic events surrounding Elon Musk's acquisition of Twitter.

Dorsey had long advocated for taking Twitter private, believing it was the only way for the platform to survive in a more censorship-resistant form.

He expressed regret over the timing of Musk's purchase, but acknowledged that taking Twitter private was a prerequisite if it had any hope of running on a decentralized social protocol.

Dorsey was actually instrumental in adding Musk to the Twitter board, emphasizing Musk's authentic and expressive use of the platform.

Jack believed that Musk's ownership could help Twitter to move away from its dependence on brand advertising and explore other revenue streams like subscriptions, commerce, and direct response advertising.

Algorithm Store Proposed By Jack Dorsey Coming To DeSo Protocol In Focus App

In the interview with Mike Solana, Jack Dorsey mentions something he called the “greatest idea” in this new approach to social media - an algorithm store -where users can choose what content they see in their feeds.

Social media algorithms have been a controversial topic in recent years as users remain worried about how they lead to manipulation, censorship and political influence on traditional social apps like Twitter, Facebook and TikTok.

I love this idea and think it’s something that not only needs to happen, but WILL happen.

DeSo Protocol is one decentralized social protocol already building this concept of an algorithm store or feed marketplace. This will be a feature in the much-anticipated Twitter-like app, Focus (built on on DeSo).

Built on the DeSo blockchain, Focus will be fully decentralized and onchain.

Expected to launch sometime in June 2024, Focus will introduce new feed algorithms based on wallet balances. This makes the app much more resistant to bots and gaming vs traditional social network signals.

(Disclosure: I reserved $FOCUS tokens earlier this year and own some $DESO)

The Future of Social Media : Decentralize or Die

Jack Dorsey's vision for the future of social media is rooted in decentralization.

This resonates with my own personal views about social media and the future of social networks. This is why I write this newsletter and why I’m personally investing time and money into the onchain social space.

Jack warned that centralized platforms are vulnerable to censorship and external pressures and I agree. He argues that future social networks should be based on open protocols that guarantee rights rather than granting them.

This paradigm shift is essential for rebuilding a social media landscape that is truly free and resistant to manipulation from any single person, group, company or government.

The interview also touched on the broader implications of decentralized protocols beyond social media. Dorsey highlighted the importance of self-sovereign identity and the potential of technologies like Bitcoin and Nostr to empower individuals and protect their rights.

Jack points out how centralized entities, whether companies or governments, can be compromised, making decentralized alternatives more resilient.

Final Thoughts And Why You Should Care

So, what does all this mean and why are Jack’s comments so important?

Jack Dorsey's ideas and words hold weight — as the co-founder of one of the earliest and most successful social networks ever built (Twitter/X).

His reflection in the Solana interview provides a compelling vision for the future of social media — a future that is both uncertain, but hopeful and exciting.

His advocacy for decentralized protocols underscores the urgent need to rethink the foundations of our digital interactions.

The challenges faced by Twitter and Bluesky illustrate the pitfalls of centralized control, while the promise of Nostr, DeSo and similar onchain social platforms, offer a glimpse into a more free and resilient future for human interactions on social networks.

As we navigate this transformative period, Dorsey's insights remind us that the future of social media hinges on our ability to embrace decentralization.

The death of social media as we know it is the birth of a new era, where freedom of speech and individual empowerment are not just ideals, but the default reality for everyone.

Decentralized Social Opportunities

The big opportunity for YOU is to get involved and start using these decentralized social networks and onchain social media apps.

This is where I come in.

My goal is to empower you with the knowledge, tools, strategies and insights related to the financial side of onchain social technologies.

I present strategies on how to earn income and build wealth in this new era of decentralized social media.

In addition to this free newsletter, I’m now building a mini course for onchain creators. The course will be your ultimate guide to start earning income and building wealth through decentralized social networks, SocialFi apps, creator coins and native onchain content monetization.

To get early access to my mini course, make sure you're subscribed to this newsletter. Tentatively, I plan to launch the course by the end of June, 2024.

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