Problem of Fathers and Sons in a Business
Every new generation reinvents the usual services
Who would have thought that the issue of social networking would become mainstream again in the early 20’s of XXI. Seemingly, there is Facebook and it has completely taken over the world. I even thought that it could replace the official ID. It turns out that the new generation isn’t going to use that old-school network. Just as the Facebook generation once didn’t want to use forums or LiveJournal. University of Oxford predicts that by 2070, the number of dead people on Facebook will exceed the number of living people. By the end of the century, Facebook will be a digital cemetery.
Recently we were traveling with my parents and younger sister in Georgia (a country, not a state). I noticed that my sister was checking-in somewhere and looking at her friends’ check-ins. I thought, “Wow, has Foursquare become great again?” It turned out that they had invented a new Zenly app for zoomers with exactly the same functionality. It just looks stylish, fashionable and young. Zenly, by the way, was bought by Snap.
Every new generation will inevitably reinvent services to suit themselves. Because it is not cool to use solutions that are popular with parents. For example, web3 reminds me a lot of web1, only on a new technology stack. We are back to the idea that it is safer to store your data outside of centralized servers. Like everyone used to store their files on their computer (duplicated on disks) and distribute them over the local network. Only now every step is recorded on the network, which makes the system more transparent to copyright holders.
I will repeat the thesis from my previous post that everything had been stolen before us. It only remains to steal it again, adapt it to current reality and release the product on the market in time.
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I’m Evgeny, a serial entrepreneur, and startup advisor. I write about startups, business development, and founders’ mind.