0x44b1b486…11desent to0x6f3e6272…223d·#19,985,856·view on Etherscan
+1
> i don't agree with the view that spending $2.3M on PH so far was overspending. we're trying to build the best internet scale meme machine. we're trying to convert eth raised to art, software, community, and more. what else besides PH (historically) and rounds (now) is truly attempting to achieve that ambitious goal of building the core grant infra for the internet scale meme machine? we've raised and spent over $50M so far and having spent $2.3M on the best bet that we have on that front doesn't seem like an over investment to me.
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> yes the PH team has had challenges. the biggest mistake was probably trying to go full onchain too early. they attempted to use skartnet as a rollup before that ecosystem was fully ready so that took a long long time to launch and then even after launch it had a lot of edge cases (like multisigs etc) that were harder to support and quickly iterate on. the nouns world was also changing faster than they could react (farcaster, base, etc) and ultimately they had to scrap the whole thing. a lot of soli & seneca's time that went into building PH the protocol on starknet was indeed a waste and that's sad but in the category of mistakes trying to go fully permissionless onchain too early is one i'm okay with. they also learned from that HARD and completely pivoted to a nimble farcaster lean-in experiment and iterate mode and in a matter of 6 months or so found the most promising thing we've seen in scaled meme machine funding so far.
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> i do hear lilforg's and sqx10's feedback / frustration and others also sharing that PH being sunset is disappointing. the reality on keeping PH alive as i've understand it is that it's hard b/c the permissionless (current) version is the onchain PH protocol version that is unweildy and the permissioned (old) version requires a lot of attention from seneca. we don't want that from seneca. we want him to sprint towards exploring this new product that's seeing signs of PMF. uplink is working on a product that can support the old PH use case it sounds like? that's a better outcome imo. in software it's hard for a different team to pick up someone else's product and iterate on that with passion.
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> also on lilfrog's point that rounds is just giving eth to existing large nouns players. i think what really gave me conviction that it's not that was /nouns-animations and /nouns-draws. the ppl posting there and earning there are many net new ppl. i'm seeing a vision of a thing where we can create channels for more contributions we want to incentivize and that creating a virtuous loop. on the /nouns channel i agree it can tend to feel that way. seneca has always excluded himself from the rounds. in the last 2-3 /nouns seneca started excluding me as well and i was supportive of that. maybe some way to scale down eth rewards for ppl with large farcaster followers so that rounds in general doesn't skew too heavily towards favoring ppl with too large followers would be good.
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> anyways, i'm just so so encouraged to see something that we've only dreamed of in the early days of nouns showing glimpses of real promise. internet scale meme machine LFG