The following is a guest post from Oleg Fomenko, the CEO of Sweatcoin.
In the rapidly evolving landscape of technology, where innovation is standard and breakthroughs are expected, one fundamental principle often gets overlooked amidst the buzz and excitement: understanding the consumer.
Tech companies, ranging from Silicon Valley giants to Web3 startups, often find themselves enamored with creating new technology, frequently at the expense of their users. Web3 companies, in particular, have a disadvantage before they even get off the ground.
The oversight of consumer desires is not just a minor misstep; it’s a critical error that determines the success or failure of a product, service, or application. This is a problem that we are seeing en masse in the Web2 world, with companies like Reddit and Twitter squandering the dedication of the user base in favor of misguided “innovation.”
Reddit, which is self-described as “a network of communities where people can dive into their interests, hobbies, and passions,” recently came under fire for their purge of third-party applications. For years, users have used various applications with differing features and user experiences to access their favorite community forums. Applications such as Apollo were highly popular due to its slick user interface and customizable features.
Earlier this year, when Reddit announced it would be banning such applications, users were irate and thousands of subreddits went dark and stopped using their forums to protest the decision made by Reddit leadership. Leadership stuck with their unpopular choice and effectively banned all third-party applications, causing a massive uproar in the community and causing the platform to catch a lot of self-inflicted heat.
The case of Twitter is even more dramatic, and the implications are more widespread. Elon Musk’s highly public,
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Author: Oleg Fomenko
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