Many of you have heard of the epic article by Kevin Kelly named 1,000 True Fans. It was a novel concept at the time of release in 2008. Over time, it has really gained traction as something to put into use by content creators.

While this is something that could apply to those creating articles on LEO, I want to broaden the idea. Instead of focusing upon the individual, can we utilize this same concept for the entire platform?

Here is where some investigation into the article will help.

Leo: 1,000 True Owners

Let us call them 1,000 true owners.

The problem with Web 3.0 is few people have embraced the concept of ownership. Instead, we have people whining to receive tokens, chasing airdrops and doing anything to get a few crumbs. This is the opposite of taking an ownership approach.

Certainly, there is nothing wrong with income. However, it should be used to lead to something bigger. Owners seek to increase the value of their assets, as much as they can. In most realm, there is usually little that can be done. That said, have you noticed how people act when they are about to put a house on the market? They do all they can to make the property valuable.

This is what needs to happen in Web 3.0. We need to cast off the Web 2.0 mindset.

Digging into the article, here is how it starts:

To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only thousands of true fans.

A true fan is defined as a fan that will buy anything you produce.

Under this scenario, lets change creator to platform and customer to owner.

If we do that, we can see how it starts to make sense.

Leo needs 1,000 true owners who are willing to utilize anything that is added to the platform. This means whatever applications, features, or components of the flywheel, people are willing to partake.

Why would they do this?

Because they have ownership.

One of the failures of Web 3.0 is that it is looking for users. We repeatedly hear about the need for users. However, this is a failed concept.

Instead, platforms should be focusing upon 1,000 owners. This is the starting point. If given the choice, I would prefer 1,000 owners to 10,000 users.

Why?

Users are not builders. They do not provide a great deal of value. The alpha between an owner and user is enormous. This means 1,000 users, given a year or two, can 100x their numbers simply by building.

Flywheel Effect

We often talk about the flywheel effect. This is something that makes a great deal of sense when compared to the likes of Amazon.

The problem is the tendency to approach things in a manner that seeks to grow at a pace that rivals that. Unfortunately, as we saw in Web 3.0, that is not practical. In fact, it has repeatedly failed.

What do 1,000 true owners have to do with the flywheel effect?

To start, we go back to the this part of the a true fan (owner):

A true fan is defined as a fan that will buy anything you produce.

A true owner will utilize anything you produce. This means that with each new addition, the owners will put it to use. This aids in starting the flywheel.

Kelly's article discusses the idea of true fans buying anything you produce, each paying an average of $100. This equates to $100K in income for the content creator.

If we apply Web 3.0 to this, the idea is for the 1,000 true owners to each grow their holdings, providing increasing orders of magnitude over time. Coupled with the development of the platform, things can grow at a steady pace.

Owners what to see the value of their holdings go up. For that to happen, responsibility has to be undertaken. Users do not care. To them, there is no commitment. This switches up when one is truly an owner.

Owners Are Investing With Their Time And Attention

Web 3.0 has failed simply because there are no owners. Instead, there are people with tokens in their wallet who spend a lot of their time on Web 2.0 trying to pump their bags.

If you do not believe this, head over to X and see how many are talking about projects. Then visit those blockchains or applications and see if you can find those people. My bet is most will not be there.

1,000 true owners means the efforts are spent on Leo. This is where ones focus is. After all, if you own a car, do you drive your neighbors? Of course not. I bet you stay in your own house and not the one next door.

Yet, people own a piece of a Web 3.0 digital platform yet they spend their time on a Web 2.0 platform.

We are in the attention economy. If the attention is on Web 2.0, there is where the economic strength is heading. I am sure Musk and Zuckerberg are very happy for that but it does no good for individuals. Big tech made it point long ago: you exist for their financial benefit.

Web 3.0 can change that but not if people have a Web 2.0 mindset.

The opportunity is that it does not take a great deal to stand out. If we embrace the 1,000 true owners approach, Leo could easily stand out. Activity will increase to levels not rivaled in this realm. Even with something like Threads, 1,000 true owners doing 20 threads/comments per day is 20K. Certainly this is far from the 500 million daily on X but it is a starting point.

Here is where the money can start to flow. As the owners see their stakes growing, we have the ability to drive that point home. Nothing drives success like success.

Instead of marketing, then it is simply telling others what we did. Nothing to promote. With blockchain, the wallets are transparent. We can see how things are paid out.

I believe those who adopt the Web 3.0 mindset will be the ones who benefit the most financially. Too many prefer to operate as users. This is actually to the benefit of the owners.

The question is who is that going to be?

With Leo, you can be one of the owners. You simply have to decide that is what you want.

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Posted Using InLeo Alpha