Two major Web3 social media giants have been acquired: Lens was taken over by Mask Network, and Farcaster was acquired by Neynar. Here are three points I want to make: 1. Founders must focus: Stani was simultaneously developing DeFi and social protocols, two products with completely different characteristics. You can't do two things at once; ultimately, you have to return to Aave. 2. Large VC funding rounds don't create product-market fit (PMF): Farcaster raised $180 million; a lot of that investment is likely to be wasted. 3. Users brought in by airdrops aren't real users: Driven by the anticipation of airdrops, crypto users migrated from Twitter to Lens, a phenomenal success. But how many remain today? Now it's up to @suji_yan to lead @thefireflyapp and @LC to carry the banner of Web3 social media.