> The idea that someone is going to make an engaging experience on a “decentralized” network is honestly a bit silly to me. The market potential of this business is low. Decentralized networks with much larger incentives have failed to capture critical mass.

When decentralized networks win, they often win so big that they become invisible. AOL is dead, the web isn't. Email, the global telephone network, the internet itself, these are all decentralized networks.

The hardest part of doing this for social media is actually discovery. It's easier to show people an "engaging" feed when your algorithm has access to the full firehose to select from. But that doesn't mean doing it in a decentralized way is impossible, and if you pass a law that drives people away from centralized services, the incentive to do it goes up.