Farcaster, who has been persisting for four or five years, is about to transform and give up the social direction, turning towards the wallet direction. Taking this opportunity, let me share my views on web3 social. 1/First review the mobile internet From PC to mobile Internet, why is there a big platform opportunity for social networking/communication? The core is that the world has added billions of new devices: not everyone used to have computers, but later everyone has smartphones (even one person has more than one). Because everyone has a smartphone, there is a broader demand for "connecting others", and products such as Telegram, WeChat, and Whatsapp have the opportunity to emerge. It is also because smartphones provide capabilities that PCs do not have that opportunities have emerged for giants such as Instagram (photography), Meituan Waimai, Didi Chuxing (location sharing+conversation capabilities), TikTok (video recording), etc What does Crypto bring? From mobile Internet to Web3, are there more people and devices? No, it's even less. People do not have any new connectivity needs; At the same time, users in the cryptocurrency industry do not have very unique social needs, and most of their needs can be met through platforms such as Telegram, WeChat, etc. The cost of transferring social relationships and content is the highest. As for the needs of identity on chain and fully decentralized storage, they are niche demands of a very small number of people. Since there is no strong demand from the most degen cryptocurrency community. So web3 social networking is a pseudo proposition and cannot be implemented. Products like Binance Square are more of a feature within Binance trading platforms, serving the community needs of Binance users. They are not independent, platform level products. Where are the future new devices? Perhaps it's VR or robots. If these devices require new communication and connection methods, there may be room for new social opportunities. At present, it is not clear enough.