Discussion

• @0xsisyphus @0xsisyphus on x

  This was an extremely well executed grift. With few users, no PMF and no revenue Paradigm and a16z gave the founder a $40m secondary exit, $110m more in funds, and now he's quietly leaving the company that he can no longer even bother to pretend to build Dead money everywhere

• @dwr Dan Romero on x

  Neynar is acquiring Farcaster. Over the next few weeks, we'll transfer ownership of the protocol contracts and code repositories, the Farcaster app, and Clanker to Neynar. They will run and maintain everything going forward. Some members of the Merkle team, Varun, and I will

• @karbonbased Karbon on x

  Raised $180m Dangle the carrot Let the proxy token run Retards running proxy token launch a broken L3 Proxy token dumps Sell equity No airdrop Rug all users gg [image]

• @_proxystudio Gordie Slater on x

  No big takeaways from Farcaster -> Neynar acquisition apart from it being interesting economically. My questions are: 1. Did Neynar raise prior to this? 2. How much capital does Farcaster end up returning to investors? 3. What were the actual terms of the Farcaster x Clanker

• @ljxie Linda Xie on x

  I'm really grateful to have had the opportunity to work with @dwr @varunsrin and the entire team on Farcaster. They have been extraordinary teammates to build with and learn from. It's no small feat they spent 5 years building decentralized social, not the easiest path in crypto,

• @alexmasmej Alex Masmej on x

  I attribute this to Farcaster being too early and focused on crypto professionals at the expense of traders ("Slack" vibe instead of fun CT jokes). Hindsight 20/20, of course. I respect builders and their product discipline was frankly inspiring. Farcaster taught this industry

• @hishboy @hishboy on x

  With Farcaster losing its founders, Chris Dixon's Read Write Own era is over. Crypto is for Internet Capital Markets. Period. [image]

• @sxtvik @sxtvik on x

  whole farcaster thing honestly feels like a slap in the face to anyone left in crypto still trying, in less than a year since raising 150m at 1b to abandon the company and tease something new is sad. in 2022, a16z prevented competing products to grow, csx was only fc clients, etc

• @macromate8 @macromate8 on x

  recent acquisition of farcaster marks the end of an experiment called web3, and simultaneously idealism in crypto truth is crypto was always about finance. it's about tokenising stocks for 24/7 trading, automating back office staff and providing an alternative shadow system

• @0xngmi @0xngmi on x

  why did the 2 biggest crypto social products, farcaster and lens, leave their products at exactly the same time?

• @jessepollak @jessepollak on x

  grateful to @dwr, @varunsrin, and the entire farcaster team for their years of partnership on making @farcaster_xyz and @base what they are today and excited to work even more closely with @rish_neynar and the @neynarxyz team to support farcaster's next chapter we expect no

• @serpinxbt Serpin Taxt on x

  farcaster raised $150m @ $1b only to get acquired by a company that raised $14m .. and their only product was building dev tooling for Farcaster? and the founders are leaving? WTF? am I missing something?