> So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of the domain name friendster.com.
I don't know anything about how to project future ad revenue of a domain, but would this be likely to be valued at only $10,000? Unless I'm misremembering my limits, even if it made $4,500 next year and continued to cut in half every year after that, it would still account for $9,000 of revenue projecting indefinitely into the future, even bumping that up to something like 60% of the previous year's revenue it would already put it at more than $10,000 (although I don't know whether ad revenue tends to scale with inflation or not; my instinct is that the prices of ads probably would roughly increase with inflation over time)?
I know I'm nitpicking a bit about the title, but I can't help but actually be curious now that I thought of this.
That's obviously an upper bound, because those domains won't make $9000/year forever. But valuing them at $10k if they make $9k/year is equally unsound. Not to mention the domain is worth more than its ad revenue. You could also end up selling it to a company that came up with the name and saw that the domain is available for purchase for some reasonable 4-5 figure amount (like in the example of this very article, where someone buys a domain for a five-figure amount)
Obviously there is a lot we don't know (is the $9k pure profit or are there substantial costs? How likely is the domain to sell?), but it sounds like the seller got the better end of the deal. He got more than $40k in value, in return the author got a deal he could afford
I think it will be very important for the onboarding process to be effortless, so you should focus on that. Until you reach some kind of saturation, most people will be downloading the app because a friend wants to add them. Having a way to generate a QR download code on my phone when I "add" a friend so they can take a photo and then download it, and immediately connect us, would be huge.
Do you have any kind of development plan for new features?
For a moment I thought maybe the app was US exclusive or something and not available in my region.
But following the link from the post worked fine and I could install it.
I literally searched Friendster and the app is named Friendster but App Store gave me all kinds of other crap in the search result instead. Weird.
Anyway, installed the app finally thanks to the link.
… 11 years going for me. Good on you. I don’t have any other social media accounts. I’ll do my best to join up on this one. Wholesome.
If so this is a meta-or-dead social network.
Making it federated etc. would make me trust it more.
though id have the utmost respect for someone who could hold onto the possibility to threaten the facebook/instagram/snapchat moat, realistically i don't think anyone in here could stick to the ideals so strongly.
it's not even a valuable thought exercise. if this thing were to gain any traction at all it's assuredly gonna get acquired. you gotta be tech-buddha to resist that.
And then it gets stolen and has a trip around the world, meeting new people.
The guy wants people to meet in person rather than doing social media the normie way.
Starting a network effect product like a social network where you exclude half the social graph seems like... quite a decision.
Warning bells. Slippery slopes. I think we should know by now that social networks do not mix well with the advertising business model. It would have been nice to see that eventuality ruled out explicitly here (PS: for the future as well as just for now).
Friendster was not the first social network.
sixdegrees.com had it beat by 5 years.
Ask HN: How to make Friendster great? (98 points, 11 months ago, 141 comments) https://news.ycombinator.com/item?id=44053119
"in todays fast paced business environment.."
the incentive structure on medium is so busted. just people churning out half-working insights to look good for job interviews or promotions, it's like the worlds laziest portfolio. it straight up isn't any sort of bastion of knowledge-share.
makes things like https://beej.us/guide/ an absolute treasure
on instagram, there is a social disincentive to unfollow people and you can also make someone else unfollow you in a couple ways (the button that does just that, as well as blocking someone for a second and unblocking them), doing these actions has a real cost to confrontation. people you thought you would never see again will see you again and say "I thought we were following each other???? oooo :O ... ooooh >:O"
you are making that activity a first class citizen, with no presumption of ill will behind it, this has value to it
What an absolute garbage economy.
If you want a business model, require payment for long-term subscriptions or large celebrity/news accounts, but you have to overcome the network effect first. Maybe have a dozen or so permanent connections to start with, like MySpace's 8 priority friends.
Its a damn shame Google nerfed it after forcing it on people who werent asking to be forced into it. Google Plus was a very tech heavy Social Media platform, if Google had half a brain they could have built their own serious LinkedIn alternative.
It's a damn shame. I feel like Google giving up on Google+ and Microsoft giving up on Windows phones were both mistakes.
You hit me right in the gut, are we long lost siblings? Lol
Dowsing a user's circles from their public information and Gmail inbox seems like a perfect task for AI.
Arbitrary labels are great ... until they're not.
What does this mean? Like in practical feature terms and benefit to the end user?
Your system kills the social networks ability to act as someone's modern day rolodex of contact information of previous acquaintances. What do they get in exchange for that?
Persistent irrelevant celebrities are a real thing, but those two wouldn’t crack the top 500.
Ultimately, users define their network in current-day social media and the relevance of any celebrity or other person within it.
400M people still find Selena Gomez relevant to themselves - she’s simply not relevant to you. I asked Gemini very simply “is Selena Gomez relevant” and it responded with essentially “more in 2026 than ever.”
You can be married to each other and your posts won't show up on the other person's feed (there's a post on HN about this)
In that sense, maybe this is Facebook doing its part for domestic harmony…
https://news.ycombinator.com/item?id=16278631