# Top stories on Kiwi News, week 23 2023 Mon 5 to Sun 11 June 2023 Page: https://news.kiwistand.com/weekly/2023-W23 The 20 top stories on Kiwi News from Mon 5 to Sun 11 June 2023, ranked by upvotes, comments and clicks, with 0 comments in total. Most-shared sources: github.com. Summaries are AI summaries of the linked article. ## 1. “How will they make money?” is the wrong question - Kiwi News: https://news.kiwistand.com/stories/How-will-they-make-money-is-the-wrong-question?index=0x6484654761c34c984e500d99cb6951b1f06b9c5e250a769459356fa90292eda3f28f90a4 - Source: https://medium.com/i-m-h-o/how-will-they-make-money-is-the-wrong-question-a5890c2c2cc0 - Submitted by macbudkowski.eth, 7 upvotes, 0 comments Union Square Ventures partner Albert Wenger's... wait, the article's author is not named in the text, so I should not name him. The article argues that for large consumer networks, the central question is not how they will make money but whether they can become durable networks that establish new behaviors, since monetization at scale tends to follow. The author lists four tests: whether 100M+ people could adopt a new behavior, whether engagement deepens over time (citing Evernote and early Facebook), whether growth is sustainable, and whether the core behavior can be monetized. Ev Williams is quoted saying that having many users and being unable to monetize them is a non-existent problem, and the article applies this view to Snapchat. ## 2. @eatkiwi bot repo - a moderately complex FC bot template - Kiwi News: https://news.kiwistand.com/stories/eatkiwi-bot-repo-a-moderately-complex-FC-bot-template?index=0x64828a5d5e52fefe7ed290bfbf740e488146ed8e1fc25311f37c0060926cfc46c8946c0c - Source: https://github.com/seanbhart/eatkiwi - Submitted by seanhart.eth, 6 upvotes, 0 comments The @eatkiwi Farcaster bot is open-source code that suggests Kiwi News links and titles when users mention it or reply to a cast containing a link. The bot runs two components: stream_notifications, which processes mentions and replies, and stream_casts, which periodically fetches new Kiwi News content and posts it to the platform. The default title and summary style is creative, witty and sarcastic in the style of The New Yorker, though users can request another style, such as Hacker News or Scooby-Doo. The repository credits @alexpaden for the command framework and uses a local MongoDB instance to prevent duplicate casts. ## 3. The diversity myth - Kiwi News: https://news.kiwistand.com/stories/The-diversity-myth?index=0x64841ffbf7d8c3c5c930f3ca85bb3d47c9b908757f6532abab42334815e611d70f72fe03 - Source: https://newcriterion.com/issues/2023/6/the-diversity-myth - Submitted by tim, 6 upvotes, 0 comments ## 4. Bedrock Explainer (Optimism’s latest update) - Kiwi News: https://news.kiwistand.com/stories/Bedrock-Explainer-Optimisms-latest-update?index=0x6481e2558a3554a63c2dbf89041a34a0c4673a47a4bf5164954d6e1fdb5ac5605bd8652c - Source: https://community.optimism.io/docs/developers/bedrock/explainer - Submitted by ccarella.eth, 4 upvotes, 0 comments The OP Stack, Optimism's open-source software for deploying onchain products, uses a protocol upgrade process meant to keep the platform from changing against the interests of businesses building on it. Upgrades are drafted by OP Labs or other core contributors and reviewed by the Developer Advisory Board, then face a 7-day veto period in which tokenholders, chains, apps, and end-users can override the board's decision. Vetoed proposals enter an appeals and discussion phase and can be resubmitted. The article states that no single entity, including OP Labs or the Foundation, can unilaterally dictate the OP Stack's future. ## 5. Brian Armstrong’s net worth has slumped by $361 million to $2.2 billion - Kiwi News: https://news.kiwistand.com/stories/Brian-Armstrongs-net-worth-has-slumped-by-dollar361-million-to-dollar22-billion?index=0x64818a3cf80c2bcc5ac75af689ec78a150242832372ba7043af952e688f97ee71fa502d6 - Source: https://archive.is/4k3Nn - Submitted by lens.ahn.eth, 4 upvotes, 0 comments ## 6. web3 trenches podcast with @timdaub - Kiwi News: https://news.kiwistand.com/stories/web3-trenches-podcast-with-timdaub?index=0x647dc812399a49f6152d777c2745201f2973c5960a020dd7f9acbb93995ac61694d19cec - Source: https://web3-trenches-podcast.simplecast.com/episodes/014-wie-dai-riley-reid-timdaub-aristotle-onassis - Submitted by tim, 5 upvotes, 0 comments ## 7. Farcaster as a digital nation - Kiwi News: https://news.kiwistand.com/stories/Farcaster-as-a-digital-nation?index=0x647f6e702ebeb00b0a0c7e8f370bb64cc5485e7145760e781d0eb1af9d78c781b7ca169d - Source: https://littleconfucian.substack.com/p/farcaster-as-a-digital-nation - Submitted by realcameron.eth, 4 upvotes, 0 comments The author, a self-described novice to Farcaster, argues that the network can become a well-connected digital nation if it applies the conditions that made Singapore prosper: safety, leadership, opportunity and ease of use. On safety, the author says new users need a sense of community and psychological security, and notes that Farcaster is taking early steps such as interest groups like chesscasters. On leadership, the author argues that early projects need one clear leader with one clear vision, even at the cost of some decentralization. The piece also suggests Farcaster should offer builders infrastructure, financial and marketing support, and should simplify its terminology for newcomers. ## 8. The Optimistic Vision - Kiwi News: https://news.kiwistand.com/stories/The-Optimistic-Vision?index=0x6481e26fb686a9551c7e9acd8baf52dcc9b47178e0f3462297b8be95204b6073d4302689 - Source: https://www.optimism.io/vision - Submitted by ccarella.eth, 3 upvotes, 0 comments Optimism promotes its OP Stack as onchain infrastructure for enterprises. Named examples include Giwa by Upbit, described as Korea's largest exchange onchain, Vision by Bitpanda for regulated finance, and Soneium by Sony for creators, fans and IP. The company states that Optimism powers 60% of Ethereum transactions and that OP Stack chains saw 800M monthly transactions and $31.8T in stablecoin settlement volume in 2026. ## 9. Shattering Barriers: Unlocking Access, Opportunity, and Rewards in the New Era - Kiwi News: https://news.kiwistand.com/stories/Shattering-Barriers-Unlocking-Access-Opportunity-and-Rewards-in-the-New-Era?index=0x647f6ed2baa7853567fbd75a97cebb489698d6da8149c8d06ebe2e7aa771acaec8429f94 - Source: https://hackernoon.com/shattering-barriers-unlocking-access-opportunity-and-rewards-in-the-new-era-of-social-networking - Submitted by realcameron.eth, 2 upvotes, 0 comments The author argues that Farcaster, a decentralized social protocol with Warpcast as one client, offers early adopters access and opportunity that established networks lack. Alex describes gaining a data engineering job, about $10,000 (6.9 ETH) to build projects, referrals and mentors after joining, and says the network has about 1,500 followers for him, roughly 15% of the total network. He also cites community contests and grants, such as the competing Purple DAO and Purpler DAO, and startups like unlonely.app that emerged from the Farcaster community. ## 10. Social Architect's toolbox - Kiwi News: https://news.kiwistand.com/stories/Social-Architects-toolbox?index=0x64808d48980d7a03faaff1c70a28646982bc2423e56da7a56667ccbe81225ed4d794da1b - Source: https://github.com/hintjens/socialarchitecture/blob/master/ch01.txt - Submitted by macbudkowski.eth, 4 upvotes, 0 comments ## 11. Learnings from Zuzalu, New Cities, Network States, Initiatives in Africa & Latam - Kiwi News: https://news.kiwistand.com/stories/Learnings-from-Zuzalu-New-Cities-Network-States-Initiatives-in-Africa-and-Latam?index=0x647fef3d01d9f8b7c3be30f01fe16cccbbc3a4163cfe8caf7008282f0898cb287c5a99b2 - Source: https://rss.com/podcasts/stranded-technologies-podcast/983277 - Submitted by web3d3v.eth, 3 upvotes, 0 comments ## 12. @jason: If crypto is regulated & slow it’s not *that* different than banking - Kiwi News: https://news.kiwistand.com/stories/jason-If-crypto-is-regulated-and-slow-its-not-that-different-than-banking?index=0x64831dcfe9742a3019a144a8e172fd749b9b70afec15dc9883eca46243705a19b0ba496b - Source: https://twitter.com/Jason/status/1666663485684715520 - Submitted by lens.ahn.eth, 3 upvotes, 0 comments ## 13. Coinbase charged by the SEC - Kiwi News: https://news.kiwistand.com/stories/Coinbase-charged-by-the-SEC?index=0x647f2b9f7c0e644fe652d63524d51e2c9e86b477cb3d1ed3820b4b4bd14cc53d067d318e - Source: https://www.sec.gov/news/press-release/2023-102 - Submitted by thatalexpalmer.eth, 2 upvotes, 0 comments The SEC has charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency, and with failing to register the offer and sale of its staking-as-a-service program. The SEC's complaint, filed in U.S. District Court for the Southern District of New York, alleges that Coinbase has made billions of dollars since at least 2019 by facilitating the buying and selling of crypto asset securities. It also names Coinbase Global Inc. (CGI) as a control person liable for certain violations. SEC Chair Gary Gensler said the alleged failures deprive investors of critical protections. ## 14. Vitalik Defends Bitcoin Maximalism - Kiwi News: https://news.kiwistand.com/stories/Vitalik-Defends-Bitcoin-Maximalism?index=0x6483667d05f631beb390b61a15434b46093956658f98b5fd53041ca74720a3722357e46f - Source: https://vitalik.ca/general/2022/04/01/maximalist.html - Submitted by kaspotz.eth, 2 upvotes, 0 comments ## 15. Middleware Thesis by Karthik Senthil - Kiwi News: https://news.kiwistand.com/stories/Middleware-Thesis-by-Karthik-Senthil?index=0x647df2115f333185310e293e86b06a9467f7e618f206532955fdd6c8ea56ea23d51554fb - Source: https://learnhax.notion.site/learnhax/The-Middleware-Thesis-b2583af12af24e5da97525ce1baa49be - Submitted by ishika.eth, 3 upvotes, 0 comments ## 16. How Reddit Became the Enemy - w/ Apollo Developer Christian Selig - Kiwi News: https://news.kiwistand.com/stories/How-Reddit-Became-the-Enemy-w-Apollo-Developer-Christian-Selig?index=0x64810bb7f2f8874924523e4a74203350e220b1515ded84b1d3a2e88382d9c70b5724dc9b - Source: https://youtu.be/Ypwgu1BpaO0 - Submitted by tim, 3 upvotes, 0 comments ## 17. Inside Argentina's currency exchange black markets - Kiwi News: https://news.kiwistand.com/stories/Inside-Argentinas-currency-exchange-black-markets?index=0x6481d34642990d3c5d11dbc0c3cb9bba77cd171a80041bf86914e83e3445b6a70cd6334c - Source: https://tinyurl.com/4y8dp5ur - Submitted by cypherr.eth, 2 upvotes, 0 comments ## 18. An interview with a DAO money grabber, how they are draining treasuries - Kiwi News: https://news.kiwistand.com/stories/An-interview-with-a-DAO-money-grabber-how-they-are-draining-treasuries?index=0x6483664e6fe2bf0fba4805012d3b4ee3b4338d303feb6f4b6df72fc239d332cbf050a5a1 - Source: https://daotimes.com/an-interview-with-a-dao-money-grabber-how-they-are-draining-treasuries - Submitted by kaspotz.eth, 2 upvotes, 0 comments An anonymous self-described member of a group of "money grabbers" tells the publication how they extract funds from DAO treasuries, in an interview conducted after the publication's earlier article on the dark side of DAOs. He says the group builds trust with admins, social media managers and delegates, then pushes low-effort proposals and seeks admin roles that provide a regular salary. He claims the group has earned over a million dollars in over a year and aims to control one or two treasuries. He also says that DAOs are inherently vulnerable because they rely on human trust. ## 19. SEC sues Binance - Kiwi News: https://news.kiwistand.com/stories/SEC-sues-Binance?index=0x647e220607cfb09264f6648a40eab2e6b312843aa3fb02aa2a4dc50895c7eec13ffa186e - Source: https://www.bloomberg.com/news/articles/2023-06-05/sec-sues-binance-and-ceo-zhao-for-breaking-us-securities-rules - Submitted by tim, 3 upvotes, 0 comments ## 20. The days are long but the decades are short - Kiwi News: https://news.kiwistand.com/stories/The-days-are-long-but-the-decades-are-short?index=0x6480634510941fd967644ac593e93e24dcf7518bf33d06a0776f4c951d10930d235eb459 - Source: https://blog.samaltman.com/the-days-are-long-but-the-decades-are-short - Submitted by macbudkowski.eth, 3 upvotes, 0 comments The author, who turned 30, presents a numbered list of life advice gathered over the past decade, with the closing line "The days are long but the decades are short." The list covers priorities such as keeping close relationships, doing work you care about, and making time for family, and it stresses avoiding regret, keeping a low burn rate, and not wasting time. Advice on managing existential angst and on being kind to others also appears, and the post says that most of it comes from personal reflection rather than formal study.